It's not a secret there is one thing that's going to separate those of you who go on to become money-making Traders and are consistently profitable from those of you who joined the 95% that unfortunately either completely give up on trading blow their account or fail atTrading all together this one thing is a strategy that you can stay consistent to and that will make you money over time and while this is not the only thing you need to be a profitable Trader you will never become a profitable Trader without a money making strategy so in this videoWhat I want to do is break down a trade I had on the New Zealand dollar along with teach you the entire strategy that I have used now for over 8 years to pull profits out of the market and it has been consistently profitable for me throughout that whole time so if thatSounds good go a and click that like button for me go a And subscribe if you are new and I'll catch you after the intro and Disclaimer first off I'm going to go through what a trading strategy is along with why we need one and how to create one for those of you who are brand new then we'll dive into the entire rule set for the whole strategy itself let's get started with what is a trading strategyA trading strategy is simply a method of buying and selling based on a set of predetermined rules that we use to make trading decisions this strategy and set of rules is just a fixed plan that we use every time we step in the markets in order to place trades I want you toThink of this as counting cards in blackjack so in a casino the the casino always has an edge even in the game of blackjack the casino has an edge but when you count cards in blackjack you start to have an edge over the casino a strategy for us does the same exactThing and so just think of a strategy as a set of rules that we use every time we go into the markets in order to place trades next up why do we need a trading strategy the reason that you need a trading strategy is because despite what I personally thought whenever I startedTrading me and you will never get to a point where we can when 100% accurately predict exactly what the Market's going to do I'm not even kidding whenever I first started trading I literally thought that I would get so good at trading that one day I'd be able to justLook at the market and I would know exactly what it was going to do I thought that I would become a wizard and be able to tell the future for some reason but that's not the case and that's why we need a trading strategy markets are slightly unpredictable so aTrading strategy gives us a rules-based way to place trades that gives us a money-making advantage over the market and that's the way professional Traders actually pull profits out of the market it's not by being a wizard and knowing what prices are going to do it's by having a statistic Advantage based on aRules-based trading strategy so that's why you need to learn one as soon as possible next up how do you create a trading strategy well you create a trading strategy using different conditions that you look for each and every time that you place a trade along with a rules-based way that you actuallyEnter the market and a rules-based way you place a stop-loss and a Target on a specific trade all of these are necessary so I use an acronym that I call C if you've been a part of the channel for a while you've definitely heard of that but C stands forConditions entries stops and targets and so the set of rules we create using the acronym C will be like our treasure map to Buried Treasure and the buried treasure is profits in our trading account it'll again be like the rules for counting cards except we're usingRules of a trading strategy in order to gain an edge over the market now that that's clear let me walk you through the conditions that we're looking for with this trading strategy first off this can be traded on any time frame I personally use the 4H hour chart now what we'reLooking for with this strategy the first initial condition is going to be a market in Trend and when markets are trending they tend to do something like this pull back then break into new highs and a lot of times instead of just having this One Singular pullback we'llSee a situation of what I call and what is considered accumulation so we'll see prices start to consolidate after our impulsive move and then eventually throughout this consolidation we'll see prices break above the previous swing high that was the highest point of this consolidation so this is what we're looking for with thisStrategy the initial thing we want to see is that price is in Trend the way we're going to do that is we're going to use a 50 EMA so just assume that this is the 50 EMA and what we're going to do is as long as price is trading above the 50EMA we're going to say that's an uptrend after we see an uptrend price is consistently making higher highs and higher lows as well we want to see this period of accumulation that looks like this after we see price break above that while in an uptrend we're going to beLooking for a pullback into this top layer of that accumulation phase this is going to be the conditions we need to see before we go and look for an actual entry reason these are the conditions of the strategy for a bullish trade so to break that down one more time we want toSee the market in Trend meaning making new higher highs compared to the previous highs and new higher lows right here compared to our previous lows we also want to see all this happening above the 50 EMA we want to see a phase of accumulation which is going to beDefined as we want to see a swing high that is tested at least twice it can be tested more than twice but we want to see it tested at least twice before the break through that in continuation in this uptrend now after we see that weWant to see a pull back into the top layer of this accumulation or back into that previous resistance area and those are the conditions for a bullish entry we'll move on to the entry reason right after I go through a bearish example of this right now in a bearish version ofThis trade we would want to see prices pushing lower and then we would want to see what we would want to see a period of accumulation this is accumulation of sell Traders traders that are looking to sell the market after this period of accumulation that would be right in thisArea we would like to see price push back up to this area right here and all this needs to happen under what moving average that would be the 50 EMA right so we want to see all this happening below the 50 EMA once we have prices inA downtrend below the 50 EMA and we have a period of accumulation where a support level has been tested multiple times and we get a pullback into that level then we have have all our conditions met and at that point we can look for an entry reason and something that makes thisEven more powerful is if this level has been tested in the past throughout a bigger period of consolidation so something like this would be an example of that we would have this level tested multiple times back here in a period of consolidation then we have thisDowntrend below the 50 EMA then we have the accumulation period followed by the breakout of that accumulation period period and the pullback into it with that being the case we're going to go down some real charts now take a look at a real example of this on a trade I hadOn the New Zealand dollar and I'm going to share the entry reason stops and targets that I personally use for this exact trading strategy so let's take a look based on what you just learned about a bearish version of this strategy this is a bearish trade would we haveAll of the conditions met where price is right now where I just circled hopefully you were able to say yes and here's the reason we have price is doing what this is the 50 EMA by the way we have prices pushing below the 50 EMA we have this pullback we have whatWe consider an area of accumulation right here we then have a break through that area of accumulation and a pullback that comes right back into it so to draw this out the way we would be looking at this is right at this area of accumulation after we have priceBreaking through it I would mark off my zone of accumulation like this and at that point I would be waiting for price to push back up into that zone we've already broken through it so now that we've broken through it all the conditions except a pullback into thisZone have been met so in this case our little area of accumulation was buyers trying to step in sellers taking back control buyers trying to step in again creating our one two tests of this area of accumulation and then sellers taking over completely and continuing thisDowntrend so now the only thing left to do is wait to see if we get a pullback into this zone now what do we have have right here we have a pullback that comes up and actually touches our Zone with this Wick so this is exactly what we'reLooking for in terms of conditions we have our downtrend we are still below the 50 EMA we're even kind of pushing off the 50 EMA giving some added Confluence to help our trade out even further and now that we're here we have remember the acronym all of C taken careOf C is conditions all of our conditions are taken care of now we move on to the next step in that acronym for this strategy which is what are we going to use as an entry so for this specific strategy I use Simple Candlestick and chart patterns I'm looking for simpleCandlestick patterns or a simple chart pattern meaning in this area I'm looking for selling pressure for a bearish trade what would selling pressure look like well it would look something like this big red candle as soon as I see this big red candle come into play after all myOther conditions are met the close of this candle is when I actually press the sell button this is going to be my entry so now what do we have now we have the conditions met for this entire strategy for a bearish trade we now have an entryIn place because our entry was met after all our confluences were met as well the next step in our CEST process is finding a place for stops and finding a place for our Target now two things I want to share before we talk about the stops and targets firstOff this was actually an even more accurate trading opportunity because of the fact what did I say earlier remember the added Confluence of having this be a level that was a previous level of consolidation already well this is a level that was it had already been tested multiple times in the past thenWe also ended up getting all the Confluence that we needed all of the conditions for this exact strategy here with this downtrend accumulation breakout and pullback so that added even more Confluence to this specific trade also this is a trade I took and shared with all the members of the TTC forxUniversity you can see that right over here and this is something I share with them two to five times a week depending on how many trades I end up getting based on the strategies they're learning inside of the University if you'd like access to all that plus you'd like toGet these emails two to five times a week all you got to do is click the top Link in the description or go to www.tcf university.com if not no big deal at all let's go ahead and move on to stops and targets on this specific trade and for this entire strategy thatI use So I entered the trade based on this entry candle and for a stop loss I just use something called the ATR indicator it's easily found all you got to do is go to your indicators on whatever platform you use type in average true range and it should be oneOf the top ones that pops up so the average true range gives you an average of the last 14 candles on the chart so this stop-loss placement keeps me in line with the volatility of the market and the volatility of the pair that I'm trading so with this being the case inThe top left of my screen you can see this is 20 Pips we discount that last number so right now the ATR is 20 Pips what that means for my stop loss is I'm going to go 20 Pips above this swing high so up to that swing high is about24 Pips if I add 20 to that my stop loss will be 44 Pips so that's how I place the stop loss for this strategy and now we have c e and s taken care of the last thing we need to do is find a spot toTake our Target now this part of my trading is one of the only parts that's mostly subjective not objective if if you've noticed I have rules for everything for my target I have rules but they're not as set in stone as the rules for everything else I like to getAs much as I can out of the market and specifically in this case all I did was look left for structure in order to take these targets I went out to a daily time frame as a matter of fact and I also looked here at the next level we wouldHit that's been tested multiple times I got about a 1.9 to1 reward to risk ratio out of this bad boy here so my targets were actually a little bit lower right in that area again just based on this next level of support that's been resistance before so for targets for meAt least I use structure looking left the next level specifically I use the next level price will inevitably hit if we continue this downtrend and if we go back over to the 4our chart and I click play for you pause that let me actuallyJust go over to a real time chart of the New Zealand dollar you'll see this trade right here this is the chart I actually placed it on I used a different chart to do the tutorial because I have this one marked up but as you can see we do inFact go down enough to hit those 1.9 to1 Targets on this trade so we started with a bearish version of this strategy why don't we take a look at a bullish version now for a bullish example now I want you to take a look at the chart andTell me do you think there's something you should be paying attention to at this moment where price is right now hopefully you were able to say yes and here's the reason we have price pushing up going above the 50 EMA we then have a pullback an area ofAccumulation why is this considered an area of accumulation because it's been tested multiple times within this pullback so we have one two we call this three tests before the pullback here and the break above now that we've had this breakout after having a trending moveAbove the 50 EMA what are we doing now now we are going going to create a zone at the top of our area of accumulation which would be right there and if we want some extra added confirmation we can look left and if we look left whatDo we see we see that this is in fact an area that's been tested also recently in the past along with being an area of accum accumulation right now before the breakout so now that we have all of these factors together the next thing we're looking for after our accumulationThat word's getting harder to say throughout the video the next thing we're going to be looking for is price to push higher and eventually pull back to this Zone that's the only other thing we need for our conditions to be met let's see what price does eventuallyPrice does this where it does in fact pull back to that area of accumulation at this point do we have all of the conditions met in our acronym CEST yes so our conditions are checked off what's the next thing we're going to be looking for it's our actual entry andWhat are we using for that it's just going to be buying pressure either a specific Candlestick pattern like an engulfing a close above a big green candle would be completely fine or some type of chart pattern maybe we end up getting a little double bottom right inThis area before prices push higher both of those entries would be fine in my standards or at least for my specific way of trading this strategy so that's what we're looking for for e or for entry let's see what we get and voila that would be a close above green candleA big green candle that would be what we consider buying pressure after all of our conditions are met be aware of this we're not just trading based on a Candlestick pattern if you go out just trying to trade based on a single Candlestick pattern you're going to loseMoney we're waiting for all of these factors to align a very specific set of rules just like people that count cards in blackjack have a very specific set of rules they use in order to gain an edge over the casino we are using a very specific set of rules to gain an edgeOver the market and instead of being The Gambler we become the casino by doing so so in this case we have our entry right there do you remember what the stops and targets were when we're looking for stop losses remember the only thing I'm using is the ATR indicator which gives me theAverage of the last 14 candles at the point of this candle if we look up here to the left we have a 31 pip remember we discount that last number we have a 31 pip ATR so with that being the case we're going to go or I'm going to goExcuse me 31 Pips below my swing low right there that red candle down to that swing low we have 45 so we add 31 to that we end up with a 76 pip stoploss after that 76 pip stop- loss in order to find a Target I'm going to look left andSee where's the next level of structure price is going to hit and to me it looks like about this area due to the fact that we have support resistance support resistance so this is going to be and by the way I'm going to be managing the position up to this area but that'sGoing to be about where I decided to take targets right at around a 1.9 to1 reward to risk ratio on this specific trade let's hit play and see how this specific trade would have worked out as you can see the market eventually pushes up high enough to in fact hit thoseTargets one thing I want to make very clear and I want you to keep in mind is that you're not going to win every single trade that you place just like if a player is counting cards in blackjack they're not going to win every single hand they have an advantage that playsOut over a long sample size of hands they play for us it's over a long sample size of Trades we place that's when our advantage plays out you're not going to be 100% accurate with any trading strategy that you use so just because all I showed was winning examples don'tTake that as this strategy only wins it wins and it loses and for my testing and trading it gives me around a 60% accuracy with whatever Target I use as long as I'm using structure for my targets which is an unbelievable Edge over the market when it plays out over aLarge sample size of Trades so now you've got the strategy down but wait there's more a strategy by itself is not going to make you a profitable Trader even if it is in fact a strategy that gives an edge over the market your emotions and your risk management areGoing to play a major role in your ability to become a profitable Trader let me do a visual example of this to make it more clear so I call this the triangle of trading success in the middle of this triangle is all the traders that are currently making moneyOn the outside is everyone that's losing and the reason everyone on the outside is not making money is because they haven't mastered these three skills the first one we just worked on that's a strategy that has a proven Edge that will make you money if you stayConsistent to it over time that's the first part of this it needs to be rules-based so you can actually follow it and stay consistent to it and it needs to be profitable over time so that it actually makes you money the next skill profitable Traders have mastered and non-profitable Traders have not isRisk management go into any trading environment whether you're trading in stocks crypto Forex like me whatever it may be go into it understanding that there is a very high likelihood that you will be losing a lot of Trades what do I mean by that think about a 55 or a 60%Accurate strategy that means 40 out of every 100 trades if you have a 60% accuracy that you place you will lose you're going to have losing trades what we do in order to handle our promotions and keep those losing trades from blowing our account or making us lose aLot more than we're comfortable with is we manage risk correctly as professional Traders we're not out here trying to gamble our way to getting rich as fast as possible if that's what you want to do with your money obviously it's completely up to you you can do whateverYou want to I'm just telling you how professional Traders go about placing trades we don't do it with a 10 20 30% risk on every every trade because that's a great way to become emotional about your trades also a great way to blow your account very quickly we do it withA very small risk per trade and although we have a small risk per trade as long as we have an edge over the market that plays out over a long period of time we will make money consistently so managing risk is super important there's three different types of managing risk theFirst is going to be what I call your risk Capital this is the amount of money based on your net worth that you're comfortable trading with you're not going to be Trad or I guess you can again your money do what you want toWith it but I would never put 100% of my life savings into a speculative trading account like swing trading or day trading in Forex it just does it's really risky so it doesn't make sense to risk everything you have on that now what you can do is break it up and goI'm going to risk a certain percent of my net worth on Forex and that percentage is going to be whatever makes you comfortable could be 10 20 30 40 50% of all the money you have that's completely completely up to you the second part of risk management is goingTo be risk per trade every time you place a trade how much are you risking on that trade for me it's between 1 and 2% it's going to be different for everyone and the third part of risk management is what I call overall risk exposure what this means is how manyTrades can you be in at once if I'm risking 2% per trade and I only want to have an overall risk exposure of 10% that means I can only be in five trades at once if you'll come up with a number that will keep you comfortable for allOf those a comfortable risk capital a comfortable risk per trade and a comfortable overall exposure then you'll have risk management down and that's how you do it after having risk management down the third thing that separates profitable Traders from people that are still struggling from people that will either completely give up completelyFail blow their accounts is going to be trading psychology so if you don't have a good trading mindset which is highly affected by the way by your risk management and your strategy but trading psychology is something that you must Master as well you have to understandLosses are a part of trading and you have to be able to control your emotions without making silly mistakes when those losses occur you can't switch strategies once a week and expect to ever be profitable I know there's some of you out there doing that comment below ifIt's you don't worry you're not alone I did it to at the beginning of my career I'm just trying to save you the heartache that I went through before realizing trading psychology is an extremely important part of becoming a professional and profitable Trader now if you want help with all three of theseWe do go through this in a very organized way throughout the TTC forx University again that also comes with email analysis like New Zealand dollar that you saw earlier today and it comes with priority email support which means I will be the one answering any trading related questions that you have we alsoHave a 30-day money back guarantee on the University so if you're interested in that top Link in the description or you can go to www.tcf university.com if you're not interested in that no worries at all make sure to click the like button if you enjoyed the video and learnedSomething comment below if you made it to the end subscribe if you're new and I'll catch you in the next video see you soon

The internet is littered with a ton of different day trading strategy setups and systems and I'm not saying that some of them aren't profitable but if I had to start over from scratch if I was a beginner or someone struggling to make money from day trading then the strategyI'm gonna be sharing with you today is exactly where I would start so in this video I'm going to be breaking this entire strategy Down based on a set of rules you can use like a checklist to check off every time you're about to place a trade in your own day tradingAnd this strategy is the exact strategy I used to get involved here on the Canada Yen the trade you see on the screen down here on the 15 minute chart so I'm going to talk you through this trade teach you the strategy and by theEnd of this video you're going to have a full rules-based day trading strategy that is perfect for beginner or struggling Traders so if that sounds good go ahead and click that like button for me go and subscribe if you're new to the channel hit that notification BellAnd I'll be right back after the intro and disclaimer foreign I'm glad you stuck around through the intro and disclaimer you're gonna be happy that you did if you're brand new to the channel my name is Steven I've been trading for over a decade and on this channel I try my best to give you every trick tip and strategy that I'veLearned through the past decade of my own trading experience in order to help you speed up your journey to profitable trading so with that said let's take a look at this strategy in this Canada Yen trade this specific strategy uses two different time frames and one of theseTime frames is going to be used for something very specific it's going to be used to tell me if I'm going to be buying or selling it's also going to be used to tell me where I'm going to be buying and selling let me explain moreAbout that by taking a look at the charts as you can see here on the Canada Yen I have plotted this blue line this blue line is the 50 EMA so the first thing I want to see with this strategy is that price is trending above the 50EMA what that means is that price is consistently making higher highs higher lows higher highs higher lows and higher highs here on the Canada Yen and anytime I'm using this strategy this has to be happening above the 50 EMA and a lot of people get confused by marketsThat start to do something like this if prices instead of making higher highs and higher lows in a very clear way like they are here on the Canada Yen if they were doing something like this I would just not trade so to keep this really simple and to keep you fromHaving to deal with do I need to trade or not based on if the market is trending or consolidating if it's not an extremely clear Trend meaning if you can't clearly see prices making higher highs and higher lows then I just simply don't trade at that time and I'll waitFor Trend to become clear in this case it was a bad trade I was looking for an uptrend looking for prices to be making higher highs and higher lows at the point that I see that prices are in fact making higher highs and higher lows thanI know I'm going to be looking for buy trades after I know I'm looking for bad trades that's step one which direction do I want to trade the next step is where where am I looking for those buy trades and for this specific strategy it's only one place that's why thisStrategy is so good if you're a beginner or a struggling Trader with your day trading is because we're looking for one place to place a buy or sell trade saying place that many times felt awkward but right here at the previous high that was just broken is the areaI'm looking for price to pull back to in order to place possible by trades so we have the direction which is up I want to be buying this Market because why because we are in an uptrend prices are making higher odds and higher lows andWe now have the where which is what or where the where is the previous level of resistance that's likely to become support in an uptrend so now that I've broken that down kind of on a whiteboard let's go to the actual trade itself here on the Canada Yen so right here inMarket replay mode based on the drawing I just did what can you see happening do we have a valid uptrend well our prices consistently making higher highs and higher lows yes they are is it clear high or high high or low now we just made a higher high after I see thisHigher hot made my next step is going to be to point out the previous level of resistance in a zone that looks something like that once I have this level pointed out I know I'm in buy mode because we're in an uptrend and now IKnow where I want to be a buyer it is in this Zone we just pointed out in Gray so the next step here is to wait for price to pull back to this gray Zone and then I'm going to be dropping down to a day trading time frame in order to place myEntry so earlier I said I used two different time frames for this strategy when I'm day trading I'm always looking for Trend meaning what direction do I want to go do I want to be a buyer or a seller so I look for Trend on the fourHour chart and I also look for the structure level or the where do I want to buy on the four hour chart after I have these two things pointed out I wait on this time frame for prices to get into that zone then I drop down to myDay trading time frame which is the 15 minute chart so if we push the candles forward here just a bit you can see that we now have gotten into our buy zone so at the moment I get into that buy zone I'm dropping down to a 15 minute chartThis is the 15 minute chart I forgot to mention this during the recording and here we are a day later I'm editing this video but I wanted to let you know you can also use this on even lower time frames by looking for Trend and structure on the one hour and lookingFor your trades on a five minute chart so keep that in mind moving forward now on the 15 minute chart I'm looking for two very specific chart patterns using this strategy I am either looking for a double bottom in this zone or I'm looking for a head and shoulders patternIn this Zone shoulder neckline head second shoulder push higher those are the only two ways I'm going to be entering a trade with this strategy once the other conditions I just said are met so here on the 15 minute chart let's push price forward and see what we getRight here we get a double bottom but what I'm going to be waiting on is not just the double bottom not just the head and shoulders pattern I want to see a break of the neckline I want to see a breakout showing me that buying pressure is going to continue past the doubleBottom so with that being the case and that being my actual entry I have no reason to enter yet as we push forward I still do not have a reason to enter the trade because we have no close above the neckline of this double bottom so weContinue waiting to see what price does we continue waiting for a close above our actual neckline on this double bottom which eventually turns into a triple bottom and eventually does in fact break above the neckline of our double bottom so with this being the case we finally get a close above theNeckline of this double bottom that is my actual entry so after all the other things are met that I'm looking for on the four hour chart we have price in an uptrend making new higher lows and higher highs we have the previous level of resistance that should turn intoSupport that price has now pulled back to I've now dropped down to the 15 minute chart and I'm looking for what I'm looking for a double bottom or a head and shoulders pattern with the break of a neckline for confirmation once I get that that is when I'm actually going to be pressingThe buy button so that's when I decided to actually place this specific trade and we'll jump out to the four hour for now hit the play button as you can see since doing so prices have in fact pushed higher and the specific trade is currently at about a 2.1 to 1 reward toRisk ratio just using this very simple strategy now you can say I wait for trend for structure and for chart patterns to trade but if you do that you're probably going to be very inconsistent in your trading which is why it's important to create a framework that is rules for theSpecific strategy which is what I'm going to show you now I do this through a process I call c-e-s-t it's an acronym that if you've been a part of the channel for a while you know all too well c-e-s-t stands for conditions entries stops and targets so for this strategyWhat would the conditions be the conditions would be four hour chart it's in an uptrend and is pulled back to the previous resistance that was broken in this uptrend those are the only conditions I'm looking for for this strategy what would be the entry the entry for thisStrategy would be we're in our Zone and price either makes a double bottom and breaks above the neckline or makes a head and shoulders pattern and breaks above the neckline of that head and shoulders pattern the next thing we have to do is establish rules for our stopsAnd Targets in order to be consistent for me the stop loss goes below the zone that I created and I personally just manage my position on a lower time frame which is exactly what I'm doing now and those are the rules for a bullish version of this strategy just so you canSee that I not only trade this way myself I also sent this trade out to all the members of the TTC 4X University you can see that on the left side of your screen and again that's something included in the TDC Forex University if you're interested in learning more aboutThat it'll be the top Link in the description or you can go to www.thetradingchannel.com otherwise what I want to do now is move on and show you a bearish version of this strategy the bearish version of this strategy is the same exact thing just flipped upsideDown let's take a look right now on the Whiteboard so instead of being in an uptrend let's say this is our 50 EMA we want to see prices making new lower lows and lower highs now below the 50 EMA when that starts to happen instead of looking at a previous resistance we'reActually going to be looking at the previous support level that price has just broken we're gonna be waiting for price to get back up to that level we're gonna be dropping down then to lower time frames to look for either double tops or a head and shoulders pattern andThe entry will be the break of the neckline of the double top or the head and shoulders pattern let's take a look at an example of this on the charts here we have the pound Yen prices are pushing below the 50 EMA are they also creatingNew lower highs and lower lows well it's pretty clear to see that we have a high here pushing to a low a lower high a lower low an equal high and now a lower low this would be a good trending Market to the downside meaning I'm looking forSell trades that's the direction I want to look for trading opportunities in now because of the fact that we're below the 50 EMA creating lower highs and lower lows in a downtrend the next step is to point out the area that I see for a possible trade that area is always goingTo be the recent level of support that was broken in this case we have this move here back up back down previous level of support that was broken is right here already have that zone drawn in for you what's the next steps well now we have the conditions met right theConditions were four hours shows me Trend in this case it's a downtrend and four hour shows me an area of structure like we have here that I'm going to be trading in the next thing we wait for is to pull back up to this area then weTake a look at entries let's hit play and see when we actually get into our Zone we are now in our zone so let's take a look now on a lower time frame so as you can see here we've come into our Zone starting all the way back here butHave we had a double top or a head and shoulder pattern that broke below the neckline of that double top or head and shoulder pattern well no we have not we get this like double top right here but the neckline would be way down here we get another double top here here almostLike a triple top but in that case we would need this level to be broken we have not gotten any type of double top yet that's broken the neckline or a head and shoulders pattern that has broken a neckline so let's keep pushing price forward and see if we actually get oneHere we have another double top okay so now we're looking right here this is our double top we have one top here followed by our second top all we need is a break below this neckline and we have a valid trade so let's push the market forward one moreTime and there we go this would be a valid trade and the way I would be looking to trade this is by placing a stop loss depending on if the price the top of the double top is close to or far away from the top of my zone if it'sSuper far away let's say we get a double top way down here I'll do it over here way down here I wouldn't be putting my stop balls all the way above my zone I would just go one ATR or 10 20 Pips five Pips whatever you want to do I wouldJust go above that double top if it happened super low in the zone like this but for this case this double top happened very high in the zone so with that being the case I'm just going to put my stop loss right above the zone I'm gonna aim for something like a twoTo one and be wary of my levels of structure I see this level here as a pretty major little zone so what I'm going to do is go in between that zone and that's going to be my target so there you go the trade is set up we haveAll of our conditions met let's hit play and see how it worked out oh no we had a losing trade which is a great segue into the next part of the video I wish that I could tell you that this strategy would win a hundredPercent of the time trust me if it would win 100 of the time I would have way more money in my trading account right now and I wish I could tell you that there was any strategy out there that could win 100 of the time but that'sJust not the case winning 100 of the time while trading is not possible what that means is that you will have losses no matter what strategy you're trading no matter how good you get a trading you're never gonna know exactly what the Market's going to do back whenever IFirst started trading for some reason I truly believed that the reason professional traders made money is because they knew exactly what price was going to do and every trade they place they just won those trades but throughout my trading career I learned that that's not the case at all theTruth is that we are trading as professional Traders whenever you be become a professional Trader you will be trading based on a statistic advantage that plays out over a large sample size of Trades so it's not about knowing exactly what the Market's going to do it's about trading a proven rules-basedSystem that's proven to be profitable over a large sample size of Trades and that you know will create profits if you do it over and over again even though it will have some losses in between so now that you know that losses are a part ofTrading and I'm sure that if you've ever experienced a loss you know that it can be somewhat emotional it can make you want to switch strategies it can make you want to shrink your target up on the next trade or push your stop loss higher and higher or lower lower to keep fromLosing money you get really emotional during losses and that's completely normal but what we have to do as Traders is find a way to mitigate those emotions during losses so since you know that losses are a part of trading what are some ways we can mitigate those emotionsWell the first one is really simple the first one this is what I do all the students in the university is risk management the more money you are risking on each trade the more emotional you're going to be and look you may have a day in the future onceYou're already a professional Trader you understand everything there is to know about trading you have your whole trading plan set up you may choose to risk a pretty high amount because you're good at that point and you'll know when that's the case you'll know when you'reGood at trading but until that gets here until you become good at trading your point in trading is not to try to gain as much money as you can by risking 10 percent or more of your account if you do that you will blow your account and the reason this doesn't workWhen you're a beginner or a struggling Trader is because you're not good at trading yet so while you're in the beginner slash struggling Trader phase of your trading career your risk management needs to be much much lower so that you mitigate the emotions you have when you have losses and you loseMoney slower risk management the amount we risk on each trade can help us to gain more over a certain period of time but it can also cause us to lose more over a certain period of time so if you're a beginner or someone just starting out or even someone who hasJust become profitable then risking a ton of your account on every trade is more than likely going to end and you blowing that account or pushing that account to such a negative balance that you can't control your emotions any longer so the way we handle those emotions that we have whenever we'reLosing trades is by having a good risk management plan the second way we do this is to have more confidence more faith in the system strategy or strategies that we are trading in the way we gain more faith in those systems is through the process of back testingBack testing is nothing more than taking the rules like you just learned in this video the CEST rules you take those rules you look back in historic data throughout the past 100 trades or more and you ask yourself how many times did It win versus lose when it won what wasMy reward to risk ratio and with these two numbers you can figure out if a strategy is likely to be profitable in the future the only strategies you should be trading are strategies likely to be profitable in the future and the way that we determine if something'sLikely to be profitable in the future is through back testing and this back testing process also gives us an incredible amount of confidence that helps us deal with drawdowns losing trades and helps us handle our emotions and have a better trading mindset now mastering a strategy or strategies thatMakes money over time mastering your risk management and mastering your trading mindset or trading psychology is something that can be really difficult on your own and for that reason I'm looking for 500 new or struggling traders to Mentor throughout the rest of this year on their journey to profitableTrading inside of the TDC Forex University if you want to learn more details about that University all you have to do is click the top Link in the description or go to www.thetradingchannel.com it obviously comes with a full University style course it comes with the pro trade report every Monday talking about theZones I'm actually looking to trade in it comes with three to five Trading alerts per week of Trades I'm actually taking based on the strategies you're learning in the course and it comes with priority email meaning that you will have contact with me directly for any trading related questions that you mayHave on top of all that it also has a 30-day money-back guarantee so if you'd like to check out the details of that again top Link in the description or go to www dot the trade example.com if not completely fine too I wish you all theLuck in your future trades and I'll talk to you in the next video

Advanced Crypto Trading Strategies: Maximizing Profits in the Volatile Market As the cryptocurrency market continues to evolve, so do the strategies employed by traders. While basic trading techniques can help you navigate the market, advanced strategies can provide an edge and maximize your profits. In this article, we will explore some of the most effective […]

This Candlestick pattern formation will be one of the most simple Candlestick patterns you have ever learned but do not knock it for being simple the reason this Candlestick pattern works so well is one it gives you a consistent set of rules you can follow while trading whenIt comes to why you actually press that buy or sell button to enter a trade and two it is an extremely logical pattern that shows you buying or selling pressure by looking for what is called close above and below Candlestick patterns the first thing we'll take aLook at is a bullish example of this pattern this pattern consists of nothing more than the close above a previous high of a previous candle so if we have something like a downtrend happening and then we get a Candlestick followed by a bullish Candlestick that closes aboveThe eye of that Candlestick this is a clear logical sign that we have buying pressure