best

SIMPLE Forex Day Trading Strategy! (Secret To BIG Profits)

what's up traders steven here your

honest trading coach and in today's

video i'm going to be teaching you a

winning day trading strategy that is

simple enough

for you to learn and apply whether

you're a beginner

intermediate more at an advanced stage

of your trading this strategy is rules

based which makes it extremely easy to

follow

in today's video i'm going to break down

the entire strategy for you

i'm also going to show you a live trade

i took using this strategy

earlier in the week and share a couple

of tips that helped me on my own path to

becoming

a professional trader so if you're as

amped up about today's video as i am go

ahead and click that like button below

the video

go ahead and click the subscribe button

below the video to the right hand side

and the notification bell

while the intro and disclaimer roll and

i will see you directly after

[Music]

welcome back and let's dive into this

simple but effective day trading

strategy we're gonna be talking about

today

i'm excited to get started so diving

right in what i want you to do first off

is look at the chart on the screen i

want you to tell me

comment below and if you're watching

this right now read the comments below

if you're here at a later date

tell me what the market's doing right

now how many of you this is what i want

to see i want to see how many of you saw

this as

let's say a flag pattern pushing up

consolidation right

i want to see how many of you saw this

not as a flag pattern

but as a possible double top reversal

pattern

i wonder how many of you saw those two

different scenarios i also am curious

to know if you saw this as a period of

consolidation

where you buy support and start selling

resistance levels until we get a

breakout

whatever your analysis is i want you to

explain it in a very brief

sentence below one to help other traders

and to help me realize what you're

thinking in this situation

and the only reason i point that out is

because you're going to see

that different traders are going to see

this in a different way it's not

important

how you see it the important part is

what you do

about what you see and you're gonna

understand that in just a second let me

get into it

so when we have a strategy the whole

point of that is

a strategy is a

set of rules we call conditions and

entries

and then we place stops and targets so a

strategy just consists of four major

parts

you have your conditions you have

your entry you have your stops and you

have your targets

cest cessed call it what you want to

that is

all that a strategy includes and that's

all the strategy we're talking about

today includes when you break it down

into that simple form

it makes understanding strategies so

much easier let me start like this

conditions would be something like the

markets above the 50-day moving average

and at a level of support an entry

reason would be something like

an engulfing candle a green candle a

hammer candle

your stop of course would just be below

or above whatever you choose for it to

be

and your target would be whatever you

choose it to be but those are the rules

and that's how you break down

any strategy anyone that's a

professional trader has a strategy that

consists of conditions

entries stops and targets the entry

might be a breakout

of the flag pattern it doesn't matter

what it is these are the

things any professional trader is

looking for and that's the mindset i

need you to be in

as we move forward and i teach you this

day trading strategy

let's talk about the strategy itself so

on the dollar canada i actually had a

live trade i'm about to show you right

here

and right afterwards you're going to

hear about what i thought about the

market at this exact

point so let's take a look at that live

trade and then i'll explain the analysis

and while explaining it

teach you the entire day trading

strategy i used

to pull some pretty nice pips out of the

dollar canada

next up we're looking at the dollar

canada on the dollar canada

i've already gotten a little bit higher

than my entry will this still work out

let's see a little under here and keep

my target below i can still get a one to

one on this

so i'm gonna go ahead and do it i was

trying to get my recording software

set up so i ended up missing the exact

entry on some of these

but needless to say still have a trading

opportunity here that i

am comfortable with it's going to be a

market order as well

stop of 48 pips target at this point of

also

around 48 pips we'll do a one-to-one and

i'm just gonna see how it plays out

i might end up going a little more on

this specific trade i'm going to do a

0.5

risk sorry 0.5 risk on this trade

because of getting this late

entry let's go ahead and click the

button all right trader so as i said

yesterday we're gonna go ahead and take

off the actual profit target here

because i don't want this to be hit

i was just putting this here in case it

got hit overnight i could take those

profits off but i actually want to

manage this position

and keep this trade running on up to

around

this level hopefully getting a little

closer to a 2-1 risk reward i am going

to move my stop-loss

up to break even though that way this is

a risk-free trade now i'm extremely

excited about it and i'm hoping we can

get a little bit higher here

with price up around the 1.3423 level

if we do and that is a level i'll

consider taking off

my profits second so as you saw in that

video we entered this market

right around here on this candle

and what i want to teach you now is the

full set of conditions

entry stop and target that this strategy

consists of

that's all the strategy is so let's go

ahead and talk about it for this

strategy

what we're looking for conditions let's

label them first

my conditions for this strategy that's

supposed to be a c by the way

sorry that was really bad my conditions

for this strategy

are that my blue line's the 50 ema the

market

must be above the 50

ema are that continuing with conditions

that's condition one condition number

two

is i must see three tests of a support

level

test number one test number two test

number three

at that point if we are still above the

50 ema

my conditions are met so if i have a

support level

above the 50 ema it's tested three times

my entry reason is a green candle

and the conditions of that green candle

is that it must close

above the 50 ema i'm not going to go

over that again because i'm going to use

a short example

in just a second to make sure you

understand the strategy but if you had

any trouble with that just rewind the

video re-watch it and check that out

but essentially we're looking for the

conditions of the market being above our

50-day moving average

we need a test of support three times

and a green candle to show us

that the market's planning to continue

higher from that previous

support level we just pointed out one

two

third test green candle entry pushing

the market higher this is how

i get into breakouts on a day trading

time frame well before the breakout

actually happens

and as we can see from what happens to

this market

it ends up pushing up and hitting my

target at about 1.7 to 1 risk reward or

83

pips on this trade and for my stops all

i do

is go below the previous swing though

the lowest part of it

and for my targets i'm looking at

previous structure

looking left now i have completely

defined stops and targets that i don't

have time to go over

in this video but what i have done is

created a brand new free training that

will go over this strategy

in extreme detail going through

the exact set of rules now you have the

concept which is what i'm going to be

giving you in this video but it'll go

over the exact

set of rules i use it'll go over how to

back test this strategy it'll go over

the exact stops and targets that i use

it'll go over some of my testing results

along with a couple of other live trades

using it so if you're interested in that

free training it is listed

in the description below called full

strategy and again it is absolutely free

just click the link in the description

and follow the instructions from there

but with that said as you can see the

dollar canada trade ended up working out

let's take a look

at a bearish example of this and then

i'll share a couple of hints and tricks

that come along with day trading that

can make your journey to day trading

profits much much easier

let's take a look at a bearish example

now okay so here we are on a bearish

example and what i'm going to do is move

the chart forward i want you to see if

you can spot the trade itself see if you

can spot the actual entry as i move

forward what are we looking for

we're looking for a market that's under

the 50 ema one of our conditions

the condition being market under the 50

ema what this

does is keeps us in the direct or in the

correct not direct

in the correct trend in terms of the

direction we're going to be trading if

we're below the 50ma in a downtrend and

we get this triple top situation

and the market can't break through that

triple top then the likelihood of us

falling a price

going down is very high because that's

showing that selling pressure will not

allow that market

we're here and we're testing this for a

third time

it's telling us that buying pressure is

not enough if we get

a red candle showing that selling

pressure still exists

it's showing us buying pressure is not

enough to push this market higher

it's showing us that selling pressure

stepping in for a third time

could be exactly what we need to push

the market in trend

continuation that's why we have that 50

ema below it being a condition on a

bearish

trade so condition one below the 50 ema

what's the next thing we are looking for

on this strategy you go ahead and answer

it for me

that's right we're looking for a triple

top situation or

a resistance level that's tested once

twice and thrice what's our condition on

the

entry the entry candle must close below

the 50 ema that's the only condition the

entry candle must

have so let's continue moving forward

see if you spot the entry

as i do it's our first level of

resistance

oh here we go we had one resistance

level here

two resistance levels i like black

better on this line i also like for it

to be dotted

so we have two resistance levels here

right see what happens next

right here is this the time to enter the

market

well look at what we have one

resistance resistance one two resistance

resistance two that's a weird looking r

three

resistance resistance three what is our

entry reason

let's go back to entry we have

conditions met

three levels of resistance of that are

all below

the 50 ema or on the 50 ema we're not

going above it

we're not we don't have candles closing

above the 50 ema

again all the exact rules and the full

details of this strategy

are available for absolutely free i

didn't want to put them in this video

because it makes the video extremely

long

when i dive into my new details but that

full version available

listed below as free strategy check it

out

it's absolutely free cost you nothing

but here we are

on r3 meaning the third resistance level

that's still staying

below our 50-day moving average we have

our

entry after conditions we look for

entries our entry

is a red candle that's all we need show

me selling pressure

for the third time in a row at a

resistance level while we're in a

downtrend

yo i'm jumping on i'm gonna go short so

here i am

with my conditions and entry what's the

condition of the entry

bearish candle must close below the 50

ema remember that part as well once we

have all those factors coming together

place our trade and it looks something

like this

we have a short trade from this area

with a stop loss

above the highest wick of our resistance

level

whichever one of the three has the

highest wick it's where i'm putting stop

again

very detailed stops and targets are

available free strategy

listed below free full strategy or full

strategy whatever i name it you'll be

able to see it

in the description targets where they go

around previous structure

support right about a one point six to

one i do wanna make sure i can get

around to one to one

at least to that previous level in this

case i absolutely do so with that being

the case

i'm ready to place the trade i'll place

a short trade right there let's see what

happens

market pushes down does exactly what

markets do which is put you through an

emotional

turmoil situation through pain halfway

to targets

almost stopped out pushing down and then

finally

hitting the targets on our bearish

version of this

winning day trading strategy that's so

simple a beginner could easily learn it

and the next steps let's talk about a

couple of tricks and hints that i have

for you in terms of

creating day trading as a full-time

career first

if you've enjoyed the video so far and

you liked that strategy and you think

it's something you're gonna apply to

your trading

that's awesome make sure to click that

like button though to show some support

and

let me know in the comments section what

you think about the strategy also make

sure you're subscribed

but moving on now the first step to this

is not to go out and start trading this

with real money that is how you blow

accounts

i've done that before i've taken youtube

strategies and just went out and traded

them especially within the first

six months of my trading career i just

took youtube strategies and traded them

with live money in the markets

by the way in the first six months of my

trading career i lost 50

of my account so do you think that's a

good way to go about this no it's not

you now have the rules that you need to

take this

strategy and go back test it yourself

which is exactly what we're doing here

use market replay on trading view use a

market replay on anything you have

if you don't have market replay go

backwards and just move the

market one candlestick at a time

until you see a situation where your

exact rules

line up what are the exact rules we just

went over the conditions above or below

the 50-day moving average

a support level tested thrice a

resistance level tested thrice

our entry reason a green candle on an

uptrend

a red candle and a downtrend that closes

above the 50 ama

ema for bullish trade below the 50 ema

for a bearish trade we have all the

rules they've all been said rewind the

video if you didn't remember them

now you have those rules you've put

those beside you you go back through

historical data and you test the last

100 times

that that exact set of rules has

happened

out of those 100 times with your stops

and targets which i have a free training

for

in the description the exact stops and

targets i use for this keep plugging

that sorry

but the exact stops and targets you're

gonna use you test

that 100 times and you see out of that

100 times

how many times did it win versus lose

and out of those 100 trades

what is my profit potential and if it

happened to be that you made profit out

of the last 100 times that was traded

then you have a really good indication

on what it's likely to perform like

in the future of course nothing's

guaranteed markets do change

but a hundred times traded is a lot of

time

that's a lot of changing markets so if

your strategy lasted in that change

it's likely it'll last in the next 100

trades as a profitable strategy

as a strategy that makes money over time

as well

so that's tip number one i have one more

for you that i think you're really going

to enjoy

and that is day trading right that's

what this whole video is about this

strategy by the way tested on

all time frames day trading is just what

i assume a lot of you are trying to do

right now

and with that being the case this is

going to be some really cool advice

so for me day trading wait for it

actually happens around 9 00 pm one of

my favorite ways to trade and i'll go

over to the dollar canada trade that we

looked at live

let's actually go out of market replay

and get to that trade look at this real

quick

when was this trade placed

2200 that is 10 o'clock p.m eastern

standard time

my day trading actually happens at night

and here's

the reason the time frame you want to

avoid at all costs when day trading or

the time zone not time frame

the trading time is anytime between 4

p.m eastern standard time look it up in

your time zone i'm not sure what it will

be

i have traders around the world watching

this but anytime between 4 p.m

and 6 p.m eastern standard time

is a no-go for anyone even trying to

place

trades that aren't extremely long-term

trades where the spread doesn't matter

because the spread between those hours

is outrageous

but after 6 pm the spread calms down a

bit

by 10 pm you can get a very normal

spread like one to two pips like i did

on this trade

and you can be patient with your

analysis

so what i'm what i'm saying by this is

avoid 5 pm if you're going to be a day

trader of course

but don't feel like you can't look at

the charts

let's say you're in eastern time like me

you're on the east coast of the united

states

or along that line and

you have a full-time job but you get out

of your job at six you get home

by seven eat spend time with your family

don't feel like you can't do analysis

at 8 pm and here's the beauty of it you

do your analysis between 8 and midnight

you place your trades before bed

whatever your analysis tells you in this

case

my analysis was saying i have wait for

it

three time tested support level above

the 50 ema

my entry candle did close above the 50

ema

i entered the market when your strategy

lines up at

8 to 10 pm 8 to 12 8 to midnight

you can place your trade then if you

have this strategy tested

in that time period and the beauty of it

is that during the london session

and the london new york overlap your

trade is very likely to either be

stopped out which happens sometimes

nothing's 100 or likely to hit your

target because of the volatility that

comes in the market

and what that means is that you can

still have a day trading mindset

where you're in and out of the market

within 24 hours most of the time

because of that volatility that comes in

after you place your trade

and you've avoided a time when there's

an

extreme spread there's nothing wrong

with doing this and taking especially if

you have a full-time job

or other obligations throughout the day

there's nothing wrong with taking your

trades at night

and then letting them play out as long

as you've tested it this way again i

gotta keep going back to that

don't go and just start trading this way

because i said that it's something

that's good to do i have a very

methodical and proven strategy that i

use at these times

you will need to do the same thing

you'll need to put in the work to figure

that out yourself

or test this see if it works in those

times it does for me

once you have all that done once you

place your trade between eight and

midnight

a lot of times ninety percent of the

time i would say that volatility coming

in on the london session between that

and the london new york overlap

will hit your targets or hit your stop

and you'll be out of the trade within 24

hours

90 of the time so that's how i like to

day trade because i have obligations

during the day i'm recording stuff for

you guys

i'm recording stuff for online paid

education the eap training program which

seems like a great time to talk about if

you are interested in some more advanced

training

there's a link below labeled eap

training program

in that program i take you through the

road map that i learned

to go from where i was struggling as a

trader losing 50 of my account in the

first six months

to eventually the foundation that

created the profitable trading career

for me

is exactly what i teach in that program

i do it with a full course

that walks you through every checkpoint

along the path of going from where you

are to being a profitable trader

in this course i am your mentor and i'm

there in case you get lost

and you need a hand getting back on

track i'm right there you can ask me

any questions you have about the course

or forex in general a new update to the

eap is that every monday i'm going to be

showing you the exact trading setups

that i'm looking for throughout that

week and i'll be emailing you whenever i

actually place those trades if you want

to be a part of the program again

that link is in the description and the

best part about the eap

i would say is that there is a 60-day

money-back guarantee

what other trading education have you

ever seen that has an

actual refund policy ours is legitimate

and if you want to refund

after 60 days for any reason just email

us and we'll get your money back

asap so if that sounds interesting and

you like risk-free opportunities

eap link is in the description don't

forget the full strategy is also in the

description if you enjoyed today's

content

like button there's videos somewhere on

the screen that i think would be

awesome for you to watch and it would

also help you to improve your trading

just as much as this video did if you're

not subscribed make sure to go ahead and

do that

and i will talk to you guys in the next

video

see you soon