Day Trading Forex With The Best Day Trading Strategies


hello traders it’s samurai trader here
I’m about to give a recap of the five range euro USD forex market but before
we get underway a couple of things I’d like to cover on my youtube videos I
tend to have a lot of new traders or potential traders and also fail traders
and traders that are perhaps really struggling review some of my videos and
in both the webinars and live seminars that I run I tend to meet a lot of
traders that have given it a go and have failed and it really disturbs me now I
want to really quickly talk about a couple of key things first of all I want
you all to stop searching for the Holy Grail I’ve been trading now for over 20
years the trade setups that I teach basically for research that I’ve done
over many many years and spending hundreds of thousands of dollars in
research and development and programming and you know what I discovered in the
end there is nothing really new that is most of the setups that I use have been
around for years and the best of the best
use them beware of any person that comes out and tells you how ever invented
something new because it’s very little that’s new out there it hasn’t already
been brought up in the past so in other words stop searching for the Holy Grail
and focus now when we look and go to these charts in a moment we start to
discuss these Forex charts some of you are going to look at them and think wow
I could never do this well trade is every professional was once an amateur
and every master started out as an apprentice it all looks too hot well can
you drive a car can you remember the first time that you hopped in a motor
vehicle if it was a manual you have to push the clutch in a changing gears and
you have to apply the brakes and use the indicators it’s confusing however within
a few short lessons and a month or two of driving you had it down down path and
now you can probably drive right across the city and not it not even remember
half of a journey everything was automated can you ride a
bike of course in other words anyone can learn
to trade as long as you have the passion for it probably the most important
message I have through all new traders is that first of all you really need to
develop the belief that you can do it and you can if you give yourself a
sensible time to learn how to trade that is allows yourself at least three months
to become a master one set up now when we go to the chart in a moment we’re
going to be looking at a number of different setups when you start to trade
you become a master at one you become a specialist in one setup I may talk about
a number of setups if I end up coaching you the big thing I’ll be doing when I’m
coaching you is we focus on one thing until you the best develop what I call
reflex action in a blink of an eye you can look at a chart and recognize it we
all develop that over a period of time as Henry Ford once said whether you
believe you can or believe you can’t you’re right now with our trade
checklist and whether you have your own trading system forgetting mind for a
moment as long as you’ve got a good rules base checklist you can learn to
trade now in my case with my trading setups 95% of the strategies are
mechanically based and over 90 percent is rule a rules based so in other words
it’s like a pilot having a checklist you tick it off does it make this criteria
does it make that so anyone if you can read you can learn for checklist now I
love this statement here if we did all the things we’re capable of doing we
would literally a stand our selves Thomas a Edison and it’s so true ladies
and gentlemen when it comes to trading trading is the greatest business in the
world you can get started with as little as $1,000 if you’re going to trade say
many contracts on Forex you don’t need to spend many thousands on education you
can spend a few hundred on education and on the way so the big thing is having
the confidence and the belief but also developing the competence because
there’s a big difference between having confidence and competence a very very
big difference and how we develop competence is by using the simulator by
gaining what I call screen time now in a moment as we go to this chart and we
explore a number of trade setups what is your profit target in your
trading plan well my personal target as my traders know is $200 a day per
contract now even at $100 a day you can become extremely wealthy as a trader
having a risk factor of no more than 1 to 1 to 2 percent of your trading
capital per contract you trade you can develop and a fantastic income there is
no limit literally to what you can earn as a day trader if you start out day
trading correctly now if we consider medical specialists and let’s look at
say a standard GP a standard doctor will they see all sorts of people for all
sorts of reasons and then go and compare SIA at an ear throat and no specialist
or an orthopedic surgeon they generally earn 3 times more than the
jack-of-all-trades then the MDM please if there’s any MDS watching this I say
this in the greatest respect but generally the specialists of the ones
that earn the big dollars and likewise as mentioned earlier I want you to
specialize and master one trend-following setup before you move on
to another once again I want you to develop what I call reflex action now
the big thing is most of my traders and those of you that have watched me trade
live and or and or seen my recording or have attended a seminar where I’ve been
trading live I’m what I specifies a sniper I’m a sniper trade
one shot one kill now when I trade I take on the mentality of a sniper a
sniper is their will lay in wait for his or her prey motus wait there now thanks
to the movie it’s just come out American sniper I think a lot of people Senate
movie fantastic movie but they do quote one line there which I thought was great
know when to take your shot and in our business it’s know when to take your
trade become a sniper and I can guarantee it will change the way you
look at trading you see with most scalpers or what we call day traders a
scalpers in and out throughout the day I could easily have twenty thirty forty
trades a day now I have a set profit target which works for me from a
psychological point of view I like to hit my target maybe a little over and
finish for the day and go into other things because I’m a trading coach I’m
working with a lot of different traders both new and experienced I’ve got my
regular clients I’m very busy but I do have a target each day of two hundred
dollars per contract with the amount of contracts I trade and once again those
of you watch me trade know what I’m talking about here but what I do is I
sit back and I wait for certain setups you see in our business our game is a
business of probabilities successfully trading is a game of probabilities the
market has a memory and what I mean by that is patterns repeat themselves every
day and another way of me explaining is that really our job as day traders is to
solve patterns that is – it’s a pattern solving exercise our setups we’re
looking for pullbacks we’re looking for rallies no we’re looking for extremes
for a snapback but they’re all patterns and that’s the exciting thing that that
I want to get across to you and learning how to trade is that if you can see and
recognize patterns and if you follow the trading rules such as your money
management the risk management and all the other things that go with
that which we cover comprehensively in our training with you you can succeed as
a day trader providing you start off by mastering one trade set up before you
move on to another patterns repeat themselves every day so becoming a
world-class trader is less about being gifted that is I sometimes have new
traders and even fail failed traders say to me look it hasn’t work for me you
know that person’s gifted or it’s alright for you ray you’ve got you know
20 years experience no wonder you can do it but it’s less about being gifted but
more about following the process applying discipline and patience and
being competent at what you do so let me show it is more about following the
process applying discipline and patience waiting as all good snipers do waiting
for that trade set up you see it’s not really you against other traders and let
me just say something about this you see trading generally is a zero-sum game for
you to gain someone’s got to lose so it’s not really so in other words really
in a way you are trading against other traders but it’s really about you from a
psychological point of view and the market it’s really about you sitting
back and being patient now there’s a whole lot we could talk about when it
comes to this if you’re wondering where the day trading is for you or you’ve
seen my videos or have been referred to me please drop me an email at [email protected] I’m quite a quite happy to have a free 15 minute consultation
with you on skype but please allow a couple of days for me to get back to you
because I’m very very busy at times and but I’d love to have a chat you about
the type of trading that I do and how we can fast track you yes we can fast track
you so anyway no more about that let’s now go across and have a look at some
trades so trade is what we’re not going to have
a look at is the FX market so this is the Euro Dollar five range and I’ve
marked up a number of a trade setups that we have here which I wish to go
through with you now once again in Back getting back to the new traders all
those where perhaps trading hasn’t been working for you I have quite a few
indicators on the chart how we start off by training it was by stripping back for
an example this indicator here the MACD platinum we don’t really need on our
charts particularly when you’re first starting to trade because we’re mainly
using that for counter trend trading which is something that you definitely
don’t want to be doing when you first start sorry please remember we’re
working to a trader checklist and we trained you in this setup step by step so
let’s start off with the T10 they have a T10 setup it’s been around for a long
time some people call it a money on the floor it’s a very high probability trade
it’s an eighty percent plus accuracy trade now each one of these candles is
worth fifty dollars if you’re trading it’s a five range if you’re trading the
euro dollar so we’re going to get in when we can see here this line here we
call the zero log when that turns sign we’re going to short the market sorry
magenta I should say when it turns magenta we’re going to short so we’re
going to go short here on this candle and we’re going to be out here we’re
after actually 12 pips in this particular case now that’s as a minimum
we may go as high as 15 to 20 but I don’t want to get too much into that
otherwise we’ll end up with a two-hour video here but this T10 was a winner
thank you very much we then have an absolute classic this is what we called an 89 200 B which is a bounce we can see here we got the 89 into 200 we’re in an
uptrend we’ve come down and bounced this is a highly accurate trade and look at
that away it goes for my experienced traders looking at a chart here we can
see here we got a T-89 that is where extended well
out of our channel here we have an angle and let me just show you this here we’ve
got great angulation here notice that wedge that we’ve got here that is what
qualifies it as a T89 with the entry outside the channel that is a highly
accurate trade when you get that extension for further out of a channel
you are for more likely you’re going to get your snapback which is what happened
here now we’ve had got right here a failed trade we’ve got a T10 met over
conditions you can see here our stochastic is sloping down we’ve come up
and pulled up we’ve got the paint bar but we got stopped out that pulled up
rolled up and then we got a secondary single signal for a T10 which was a
winner here we’ve got and by the way this is the market just a few days ago
so if you look at the for date here I think this is the what have we got here
this is the let me just give you the date here this is a 16th of the third
third of a 16th 15 so just a couple of days ago so we can go down we’ve got
another perfect T89 and just on this point this is the great
thing about trading Forex is you can start of course trading Forex with a many account or even micro but most traders start off by trading a money so
$1,000 in your real way it’s a great way to cut your teeth because remember I
spoke about earning the right or competence how you gain confidence is by
executing trades one of my clients is in in London and I was talking to him a
couple of days ago and he’s been and I know he’s going to be listening to this
recording and I really got stuck into him because he’s been making some fatal
errors on moving stops and breaking his trading rules if you’re a pilot do you
waver from your trading plan or from your flight plan without permission of
course not you got your flight pant plan you must
follow likewise with trading I said to him you must for the next 100 trades
follow them without breaking them just once not once otherwise you’ve got to go
back again because what happens is we develop what we call reflex
we develop bad habits and the reflex thing is we start for an example we know
we should mechanic turn trading we take the counter trends or we break our rules
by moving stops etc so it’s critical in learning to trade that you follow the
rules exactly likewise oh I’m just amazed at the amount of
people and even other educators and coaches that say well look it’s just a
simulator the clients on the simulator it doesn’t matter a favor few losses
it does matter traders it does because what’s happening is you are hardwiring
habits when into yourself so you’ve got to treat the simulator that you’re
exactly the same as if you’re trading real cash and our rule or my rule is
you’ve got to be able to execute 100 trades minimum exactly it of a trading
plan without without any variation that’s unqualified or you have to go
back to the drawing board you see you’ve got to remember that learning to trade
is a lifetime career you can earn an enormous amount of money over your
trading career and you can get it get in it for a lesson well a thousand dollars
so why not do it right from the from day one and and it’s just amazing how many
people want to be cheap with their education and learning how to trade it
just just amazes me it’s the greatest business in the world
anyway back to this what I’ve got here is another T10 I’m not going to go
through all the rules with you right now what I want to do is just show you here
some typical trading of the forex market now talking to another trader just today
in LA I’m down under in Australia at the moment that I’ve got a lot of clients in
US and in Canada and we were just talking about this week of course is
triple witching week you’ve got the options expiry etc and we were talking
about the differences in volatility where I used to trade mainly a seven and
an eight range FX market as far as the candles go but now they’re five because
volatility over overall has been lower that is why by the way we trade range 5
range now range bars of course very different to time based charts by the
way on the Mt4 for the Mt4 users you don’t have range you can buy coding for
range if you google it we’ve also coded range candles for Mt4
as well so range makes your dual charts a lot smoother back to this one I’m
digressing little a lovely T10 notice here our long-term stochastics up we’ve
got to curl up the paint bar we’re in away we go
and another T2 this is a cross between a T1 and a T2 now remembering this here
traders if you’re trading a standard lot that’s about one hundred and fifty
dollar move there now if your target is one to two hundred dollars a day the
reason by the way we go for a minimum of 12 ticks is this that however each say
spread or Commission spread that we’re going to pay is around two ticks yes I
know we can get it down as low as one and sometimes even lower but let’s be
generous so I’m after and because my stop is
generally including the spread is twelve ticks my minimum gain I want to be
targeting is twelve if not more and using a zero log you can see it makes an
excellent tool for trailing on the forex market it works much better using a zero
log on the forex market then what it does on the futures market in the
futures market you get a lot of false breakout set cetera so it’s fantastic on
the forex market here I’ve got another T89 counter trend trade new traders
remember you’re not going to be doing or trading at T89
to begin with let’s move along here now what we’ve got just down here we’ve got
another beautiful 89 EMA bounce now that one because your entry was not two up
here and taken account your spread you would have not exited to up here
somewhere now you actually had 289 base in a row here you had one and your
secondary one your entry would not have been to here now why here and one up
there remembering we’re always waiting here for our zero log
to turn up and to turn sign for long magenta for shorts signed for long down
here we’ve got another beautiful 200 B bounced the 200 is the 200 EMA new
traders you will learn this be patient allows yourself three months to master
this remember every master was once an amateur we all start somewhere
another beautiful T89 what made it a tea a T89 my entry was outside the
channel when you get these extended moves you get what we call angulation
over here we’ve got here another 89 bounce you can see we bounce but it was
a no trader why is that notice here that a zero log is still
heading down trade is only three or four things that you’re really looking
forward to execute a trade that’s all now if you said to me what strategy am I
going to begin with rate and learning how to trade it’s taking these paint
bars with the in the direction of the 89 and 200 if these and if the trades not
in the direction of these two lines forget it you’re not going to take the
trade it’s as simple as that so you’re 2 T 1 s and T 2 s generally
what you’re going to be learning to trade with let’s move along a little
here you remember I’ve just taken a random day over the last few days
another T2 perfect now here you were not out till up here if you’re after a
minimum of 12 ticks if you were scalping the market you might have got out early
or as experienced traders do they add to their positions with their secondary
signal see what had we stealing this one yeah added to this one likewise you
added to that just picked up three winners in a row there and thank you
very much you just had one here and you had a T89 which I hadn’t marked there
that one by the way would have been a loss that then you just picked up a
lovely one winner here here we’ve got a T10 right here not a big winner
and just remember traders and this is sorry for the new traders so if I’m
losing you a little bit here but when you’re just above the 89 over 200
remember they’re magnets they will attract price action but also they act
as several support resistance which means you you’re going to bounce off them but
which is exactly what happens if you Advantaged in here and many of you have
seen me trade live and semi recordings you know that I always have my exit on
these down here I go to break-even at least and this is what happens we bounce
store from at a beautiful 200 bounds right there then we had another
beautiful 2 T10 right there so trade is trading and just literally so just it’s
one trade after another these are all rules based they’re 95% mechanical in
nature now what’s the difference where why aren’t they 100% well there are a
couple of things I do want to know for an example am i around a news
announcement is there a red flag for newer traders is a website that we go to
every day just to check out news announcements what we call red flags
might be the FOMC announcement in the States could be a certain retail
announcement all the there’s some major announcements for an example tonight
it’s a Thursday nights have in Australia tonight in the US I think about the
Philly Fed announcement tonight which is a big market mover so when we have those
big moves in the market we actually make sure that well as day traders we’re not
in the market at the time we exit so every one of these trades I’ve taken and
we’ve had others in between but what I’ve done is just taken the ones with
the paint bars see these so every signal if you look at that winner let’s forget
our counter trend so comma not even going to talk to you about those by the
way with these T89 ions for the experienced traders we’re after a
two-to-one risk reward okay so for every ten dollars I risk I’m after a target of
$20 profit which as you’ve probably seen everyone what
85% deliver that but once again you traders I don’t want you trading them
but for the experienced ones and for viewer ones let’s go back to here right
these are all classic signal but see winner winner winner winner
winner so try this you do have rough days as well because one thing is that
when you enter into a market where this chopper where the markets going saw ways
of course the market is going to get a lot tougher we can see here we’ve had
another winner this was a 289 bounce 289 bounce a T1 sorry if it was a T10 – T1 had another one here now by the way there’s one you would have been stopped
on you would have had a loss on that particular one but if you look at this
over here this T89 is that ignore that trade right there
because that’s shouldn’t be in that one but if you just look at all of these
with trends and so just to recap what we’re looking at doing as new traders
and even the experienced traders if you said to me ray samurai trader
I want a lower risk trading environment I want to have less sweat by the way you
may have heard the old saying he you sweats more in training bleeds less in
war what that means of course is if you’re fitter
when you go to battle you’re going to survive it and the bleed lot lot less
likewise when you’re learning to trade that is why on this simulator I want you
to take at least 100 trades on the simulator 100% – the rules of that
particular setup before you even consider going live trade is one of the
greatest disadvantages in learning how to trade is that it’s so easy to open up
a trading account and become a trader but so many traders and we know that
over 90% of traders lose that’s right over 90% of traders will crash and burn
eventually so I want you as your success coach to being at top 10% and how you do
that is through patience is through discipline and because it’s so easy to
open a trading account start trading because someone’s told you how easy it
is after you blow your account once or twice and sometimes
not even blow your account you do yourself a whole heap of psychological
damage and you know you become gun-shy and next thing you get a perfect setup
in your hesitating you know it happens the market runs and you get enlightened
you know so many things happen and it’s one of the greatest challenges that I
have with both institutional traders in the private traders is the psychological
damage I’ve had through making usually errors in judgment breaking their rules
breaking their money management rules etc because trading by the way can be
very boring at times it’s not always excitement now just before I close off
the other thing here is you don’t have to sit by your charts for all of these
so if we look at this here that’s it six what’s or two bad that’s an hour and
twenty minutes there now if that’s too many trades for you and then sometimes
that can be four or five hours if that’s too many trades you simply we increase
the time frame for a ways there if you want to be more patient that is you
don’t want to take as many trades so with this also is we have an alarm
system so what happens here is that and let me just quickly show you this here
let me just enable that so let me just see if you can hear this
whoops sorry sorry traders let me just get this right yeah strategy alert
strategy alert strategy strategy alert and peace
anywhere attitude alert and this is whether you’re trading with that
tradestation ninjatrader most trading programs strategy alert LA to heaven
alarm that is with these trade setups you can easily code them and have them
here on TradeStation already coded for you and I and for the people with
trading platforms for an example a MT4 I just give you all the settings so it’s
easy to do and to set up here you simply set the alarm and you can be anywhere in
your home have your arms on and they go off when the setup is there for you so
it’s easy it simplifies it so you can be downstairs upstairs in another room
cooking dinner and waiting for the trade setup so traders I trust this session I
went a little bit longer than really what I wanted to to do but I bet
enclosing traders you have to aim to be in the top 10% trading is not rocket
science but I think because this week I’ve had a rough week in dealing with
some some really some really rough traders that is that I found it really
tough that made so many classic mistakes and it tears my heart out because I want
to see my traders succeed and they keep breaking the most basic rules and what
I’ve noticed is that a lot of trade is approached trading well if I’m just half
okay I’ll do okay well you won’t you have to have the target of becoming one
of the world’s best and you can you can become an epic trader by focusing on one
market maybe a maximum of two one or two setups one or two one or two time frames
become a specialist traders that’s it until next time try to these older
listening

3 thoughts on “Day Trading Forex With The Best Day Trading Strategies

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