Day Trading Tips, Ideas And Questions From Members Answered!


hello traders its a samurai trader here
welcome to this training session and i’ll be covering a lot of information
mainly covering questions from members over the last four or five days most of
you know i’ve been away on back and a lot of email so the best ways for me to
really cover these in a video that wait you’ve run can gain some benefit so
let’s get straight underway understanding the risk please as a
reminder read the risk disclaimer you never trade with the rent money and of
course you never go live until you’ve mastered the trading setups on the
simulator very very important we’re going to be talking a little more about
that today because i need to give some of you a little bit of a slap around
some of you have been going live too early and we’ll talk about that in a sec
so if you haven’t already gone to full screen bottom right-hand corner please
go to full screen just make it a little easier for you to see the charts now let
me just start get to this slide here so this is where I want to start with now
many of you have seen me run through this before and talk about this slide
and let me just read it out again people become quite remarkable when they start
thinking that they can do things when they believe in themselves they have a
first secret of success and how we do that traders is by going back to the
simulator if you’ve been trading lie they’re not consistently making money go
back to sim draw a line in the sand and restart you’ve got the rest of your life
to learn how to do this the more often you go and lose money on your live
account the more likely you is to just really destroy your trading self-esteem
you lose trust in yourself etc etc you can regain that trust by making the
right decisions and following the rules and Mark Douglas used to spoken a great
deal about this the psychological damage at traders do to themselves so new
traders please you know as I say 100 trades on the simulator where you follow
the rules consistently before you go live and be consistently
profitable let’s get this right okay very very important traders now i can
give you and I do I give you and teach you the battle tested proven trading
strategies or what you need to market to reach to achieve master day trader
status but what I can’t give you is screen time focus discipline and
patience and traders you probably saw me talk about using the simulator for a
pilot last week in a video did and I think that’s a great example where
they’ll do at least 80 hours in sim in the simulator before they go out into a
real aircraft before they look to right to turn left for dead zone on go onto a
plane or turn right I’ve gotta be in the sim simulator for at least 80 hours
traders don’t rush your career because you’re going to crush your career if you
do that and I’m still seen and dealing with traders that really have got some
real issues because they’re really trying to fast-track themselves through
excitement it’s great to be excited but this is a career if I put you in with
one of my prop trading firms or if you went to work for a bank as a trader do
you think that tolerates you take in risk trade so they’re going to let you
loose trading real money until you’ve mastered one or two setups where you can
see you consistently making money of course not you’ve got to assume that
you’re going to work for a major firm even if you’re starting out with a small
account a thousand dollars in trading a mini account with forex treat it as if
it’s a million dollars you’ve got to start from that and you’ve heard all
heard me talk about this before of a discipline trader Mark Douglas talks
about this is it you’ve got to have as he says to become an expert choose one
simple trading system that identifies a pattern preferably one that is
mechanical instead of mathematically mathematical so you’ll be working with a
visual representation as you know patterns repeat themselves in the market
day in day out the market has a memory so
discover what patent suits you which set up suits you the best now we’re going to
quickly talk about those in a moment because really my goal is your trading
coach is to fast-track you I was talking to a trader today in the Caribbean and
this is a for my forex traders and we’re just talking about range charts third
versus time-based chance now for my empty for traders as a reminder you can
buy or may even be able to find a free app which allows you to run range charts
on your mt4 there a lot smoother and what we’re looking at there is the euro
dollar five range okay so it’s just a beautiful chart to trade if you for
those that experienced in our setups that you can see there’s at least half a
dozen trade entries or profitable there on the chart in front of us and this is
from this morning so traders if you’re trading FX really consider going to
range I love the rule of two on forex it’s an incredibly profitable strategy
the rule of two now another question that continually comes up is when’s the
best time to take it c1 there remember with virtually any trend following
strategy what we want to do is really see three at our four EMA’s confirm a
trade if we got for brilliant now with the t1 consider a maximum of three to
four in a trend very much like the 34 BS okay three in a trend now with the t25
because you’re taking shallower pullbacks go for five to six in the
trend because remember you’re only got a 2 to 5 candle pull back so you can take a
lot more now I know it gets frustrating in there will be days where you’ll see
6 or 7 34 B’s all come off at once in a strong trending market
will traders that’s trading okay that’s just the way it is so that is going to
happen now why I think of it for my ninja trader traders I’m paying a coder
thanks very much to one of our members has put me on to a
coder to code the super scalper of a t1 exactly the same as my super scalper on
trade station hopefully it’ll be ready within a matter of days now please don’t
email me yet about it because what I’m going to do is we’re going to put it out
to two or three of our NT ninjatrader 7 users just get them to just make sure
it’s working fine and then on my google Drive i will upload the NinjaTrader
superscalper will you’ll be able to then go and download it otherwise I’m going
to get so many of you’ll be sending dozens of emails so look this time next
week if you are we allowed a week almost certainly it’s going to be up and
running so once again on my google Drive you’ll notice now we died eight every
document so whenever I do an upload now I dated so just look up the dates and of
course like today’s date the PDF that I upload for a link to this recording will
be dated the 28th of a fourth so just look at that and so when you’re
going on the art searching every time so that’ll just keep it in order once again
when the new websites going to be up it’s going to be even easier and don’t
even ask me about my program it’s a nightmare way we are getting there all
right so you really want your EMA’s to be confirming the trend now in reference
to the the great work that was done thank you by Ricardo now I’ve had a
couple of emails in reference to some some really good points want to quickly
cover now I was talking to a an outstanding potential moderator
moderator today someone that’s worked for me in the past and we were just
talking about the trading room so what we’re looking at doing and then this is
not one hundred percent set in concrete and I’m open to any emails from you on
this so we’re looking at trading the CL black gold oil the NQ 133 and the ES
1000 and with a probably a maximum three setups otherwise for the mod our
moderator traitor it’s going to be near impossible to keep calling the trades
our objective in the room of course is to not only give you an outstanding
education but to give you and help you become extremely profitable a minimum of
two to four hundred dollars per contract per day so from three markets I know
some of you love CL some of the NQ some love there is so we’ve also got to make
sure that we can call those trades without causing confusion which also
brings up an excellent a couple of points it’s me brought up thank you
sameer sent me at some really good information is that um we want to keep
everything consistent that is I’ve spoken to you about the whole EMA I’ve
spoken to you about the zero lag and of course the the eight etc on our charts
we’re going to be and and I won’t announce what the indicators will be yet
but it’s all of the 8 EMA we’re going to have our standard EMA’s we’re going to
have as less or as little clutter as possible on the chance because as most
of you know I’m very price driven now for the least indicators on the charts
the better an hour roll our job and what my goal is is to teach you how to trade
with that or with just minimal amount on your old clutter on the charts it’s
really important we get there now also i’m going to be uploading some of the
great work that was put together by ricardo on some of the back testing ok
now for an example on the six ticks top on the ES going for six ticks seventy-nine
percent profitable overall over a sample size of a hundred and five trades and
you’ll see this in i’m going to be uploading this probably tomorrow in the
on my google Drive once again a whole lot of great work is done targeting five
ticks with a six ticks top eighty-seven percent were profitable and what is
really interesting here is five ticks target five ticks top lowest drawdown
eighty-five percent profitable this is one of those core trades that we
will be calling in the room because you may remember that when it comes down to
the CL the NQ FOREX the ES the 34b kicks butt okay it’s just a great solid trade
all right along with the t1 to t2 t25 now we are going to mainly be focused in
the room on trend trading okay because we want to be consistent you know that i
love the t89 s etc but we’re only going to be able to call so many setups
on so many markets in the room we’re all in it to make money that’s what were
there for right so boring that we’re starting to drawdown on some of these
finer details so I’m very open-minded to any of you lots of email and just let me
know what trade setup you’d like call in the room as one of our base line setups
now some of you are trading the t2 every day and kicking butt with it others are
doing the t1 so we’re going to be taking the core trend following strategies so
if anyone’s got any suggestions I’m open to hear what you have to say but it’s
going to be very rules-based we don’t to be swapping and changing one strategy we
want to stay consistent which is very very important now remember the secret
to your success as a trader is trading rules-based trading strategies right so
we’re going to be very very clear on that now let’s go and have a look at
some of the questions that have come up now I’m going to start with this one
here I’m just quickly looking and okay so i hope i know this is perhaps going
to be a little hard for you to see here okay so this is about a t10 point eight
wins a reasonable point to take target one thing traders look nothing’s ever
really when it comes to trading their rules can be fairly set in concrete
where’s our variance is going to be well of course red flag news announcements
and where our EMA’s are now we know that
quite often we get our 89B’s a very reliable trade but we quite often get a
bounce off the 200 so I will vary my target see if I’ve got an 89 and a 200
straight under my trade or very close if that’s going to almost certainly boot be
very very strong support resistance you want to be really aware of that okay so
is this a qualifies about so I see a green bar coming down on the 89 and
momentum the upside but the long-term stochastic is down well that theory we
can see here is a t10 okay so we can see a long-term Stoke heading down we’ve
come up it’s a t10 now what I’m going to show you in a moment is if we refer and
look at the t20 and this is one of the points here from one of the questions I
had here is that I don’t talk about let’s see what I’ve here I haven’t been
talking a lot about the T10’s recently well the T210 is a very visual setup so
is the t20 and the reason I’m mainly talking about the t20s nowadays is
because of the amount of emails are getting about the t10 where the t20 is
very clear-cut visually where there’s more discretion on the t10 so the t20 is
very very clear-cut okay compared to the t10 so that’s why I not talking so much
about T10 and we’ll look at the chart and in a moment so as far as
targets go most of you are aware that I’ll usually have a fixed target as a
scalper the first trade in a new trend after T20 you can have a wider
target but just be prepared for retracements and Pullbacks once you pop
through on a t20 time and time again you’ll get a pullback which we call the
t21 the first trade that will first trade after at t20 that can be extremely
profitable if you want to ride that out but as a scalper I like to be in and out
for an example to achieve our two hundred dollars a day per contract 3 6 ticks
trades on the es after bro courage and you’re there now you may
notice here that on the 34b that ricardo are prepared that the five chick was the
most profitable and I’ve had a number of traders asked me why do I only go for
five or six ticks and sometimes only four on the ES because it’s like a
wave moves in waves and get lots of pull backs and you know it can really for me
it does my heading went on in the money say five ticks and I get a pullback of
four ticks you know you start to panic adjust for me I just like to scalped
that’s my trading style but if you want a high profit target wait for your t20s
it’s going to then give it give you one okay now would you take do we take each
of the 89b’s on this chart no reason not to with the exception of their
service area up here so we can see very clear-cut we’ve got our bounces here be
very cautious after to 89b’s in a row right if we keep coming down and testing
support or if if in a case resistance there’s a very good chance in your
probably probabilities drop considerably so after three you want to be really
cautious and actually without even seen your chart over here notice how
we’ve got a high a lower high here so here this is real would be reeling with
that scene where this goes any further yes yes extreme caution extreme caution
particularly when you can see here what have we formed up here a double top at t7
so we can see here we’ve gone up and that’s really a triple top isn’t it
we can see it there remember a double top or triple top you know a double top
to me as if you’re within one or two ticks so we can see here we basically
got a triple top I’d be very cautious thereafter likewise traders with your
t20s your very first cross through of your t20 if it’s close to an 89 bounced
quite often you’ll t20 you will fail and you’ll bounce up just be really your
first one you’ll see this time and time again now
you know you can take every t20 on the ES 1000 during the main market hours and
you will make money virtually every day for even if you take every single one
but when you look back at the losses nearly always it’s because they’ve
bounced off the 89 hopefully that makes sense right now another thing to be
aware of too when you see your long-term stochastic in this we can see here in
this some middle window and it’s traveling along here this is can really
start to ring alarm bells for me likewise I want to look at if my EMA is a
heading horizontal wait for a new breakout so you just want to really just
really watch that so after to 89’s be very very cautious maybe even stand aside
because that’s where you’re going to get your high percentage of failures now
does this qualify as the bounce here well I’m assuming here that this is our
a 34 yes it is sorry a green bar okay so yes the thing here is is how many
bounces have we had now we can see here we can the the long term stochastic is
starting to rise but we see that a lot traders you’ll see it pop above the
oversold or 0 or overbought position you’ll come down and bounce remember we
don’t want to take I recommend anyway you don’t take any more than 3 in a
trend okay because what you’re doing you’re getting the 34 be generally
speaking is a deep pore back the more often you pull back the more chance is
generally speaking unless you’re in a really strong trending market like we
are have been by the way which I’m about to show you on the Globex markets down
the 233 we’ve had a really strong trending market and i think is five or
six 34B’s or worked but statistically once you get above three
you know your chances of a failure are going to really increase dramatically so
you set qualifies you remember i want to see a closed under 8 so i say that’s
either a hut either a hull or a zero lag you’ve got on your charts here you will
notice now all i have is the 8,34 89 and 200 and that’s really all you
need okay so if we look at yes this qualifies but how many are we into it
there now remember one of the things you want to also watch is this see here we
basic got a higher low okay it’s higher now you want to really keep an eye on
those particularly if I get a t1 plot cities if we’ve got a rule of two we’ve
got two four Candle if I get an up tick above there I’m going to be super
cautious because yes if it’s the first one in a trend fine but if we’ve had
three or four of these want to be more cautious particularly when we can see
it’s almost a t10 formation is setting up there okay here right t7 okay now
with the t7 t7 traders as a reminder is a double top or a double bottom when do
we take the position more number one we can see here we’re within one or two ticks
that’s fine but we want to close under the 8 EMA and here I won’t even refer to
the stochastics most of the time or two V the MACD what I’m looking for very
very clearly is a nice double top and let me show you on the charts here let’s
go and have a look at this here okay so what I’ve done here trade is this is I
think this was yesterday’s price action on the Globex market I’ve just marked
these up I just had these up for myself yesterday most of you know what I do at
the end of each day for research purposes hola record just quickly and it
takes only one and a half minutes to two minutes to record the entire session so
I’ll quite often go back and mark these up just so I can do trade counts later
on for my own use now we’ll meet with the live room by the way we’re going to
be keeping daily statistics so it’s going to be a lot more accurate we’ll be
able to quite accurate stats and once again Ricardo’s done a great job on the
statistics and back testing and just one thing on that where will we see 85-89
percent win-loss ratios all right take off five percent fear for for Miss
trades fast moving markets whatever there’s still incredible statistics and
that’s just on the 34B’s go on started in in your t25’s new t1 set etc.
remember you only need as an example 4 5 tick trades a day net and you’ve netted
over 200 per contract on the Google Drive have a look at what that means is
increasing your contracts after you know you’ve got another 5,000 in it you
become extremely wealthy get rich slowly anyway so here we’ve got very very clear
right t89 once again at t89 is where you’re entering outside your channel but
what you want to do is wait for your clothes over the eight if you do that
it’s just a nice little insurance policy so up here this is one wanted to show
you’ve got a very clear you had a t89 here and the reason this was a t89 you
can’t sit here but this actually plotted over here and you’re outside the channel
but then we had a double top form which formed our t7 and you’re going to see
here a lot of traders thought that they pushed the market down there’s your
entry down here so you want to close under your 8 and there of course we had
a t20 now down here you’ve also got very clearly even though this is a to smooth
if you apply stochastic you apply the standard settings you’ll see you’ve got
to cross over there as well and we can even just let me just casually get rid
of that for a moment just sorry traders i’m just going to just where is it here
okay I just want to pull this down for you
was it always a hassle when you want to okay let’s just get this out the way so
getting back to here keeping your charts clean you don’t even need once again
most of these indicators here unless using this for divergence but you can
see it visually you know about the angulation look at the angulation of the 8
EMA compared to the others look at the angulation see that bubble formation
will you see that traders you know you’re going to get a snapback it’s
going to come down at least to hit your 34 here you’ve got your 89 and this is
what I mean about I’m having four out of four EMA EMA’s you’ve got the right give me
your close above the 8 the eights above the 34 34 is above your 89 89’s
above your 200 look at that support in that area we’ve come off a t89 and
here’s where your target would be and you’ll see this how I talk at this time
and time again because this is very very strong support and resistance in these
sorts of areas here is a t7 let’s describe and you’ll see these all the
time now this is what I call another hairy area why is this a hairy area okay
you’ve had you’d see t20 quite often we’ll get a bounce but where you get a
t20 after a t89 a big sell-off the more successful that is we see these t20s like you had one down here these are more likely to punch through your strong
support or resistance areas so just take a note of that after a strong a really
good divergence trade you’re more likely to punch through t20 was also a
t10 so here’s another t7 now when you double top see you can see here that
popped up one point above here this is a hairy area because as you know we quite
often we bounce off for 200 your 200B’s and nowhere near as
accurate is your 89s like you’re 30 Falls a more accurate than your 89B’s
so here when you get these double tops you’ve gone up you punched
you’ve come down you’ve closed under the 89 under the eight now many of you
of course don’t have the white paint bars that’s fine just look for a close
under the eight so you’ve gone up you’ve come down you’re closed on the 8 there
is your entry okay down here up this was a t89 and you’ve got a bubble look at
this angulation see the 89 moving away here you close above the eight there is
your entry it comes back down it forms at t7 there is our entry so hopefully
that then makes sense now t25 is of course here you’ve got a you’ve got a
34b here you’ve got it t25 you’ve got multiple sort of entries here let’s go
and have a look at what’s happened today now this is what I mean about strong
trending market so you’re 34b’s you can go with in two ticks of your 34 okay
and you can see here that would have been a 34b 34b 34 34 but what do we got
there 1 2 you got three well that’s really that’s a t7 with the trends here
at double top with the trend for so you can see you’ve got 34b’s firing off
left right and center 5 it’s an 89 and a 34 it’s punched through the pivot see
the support now one of the questions I have about about pivot I have questions
about pivots regularly trade is virtually every trading platform I’ve
seen or pivot packages is different even though when you look at the rules of
pivots open high-lows and closes etc they all seem to vary and I can vary
subject to whether your pivot is adjusted to your local trading time or
exchange time forex is even more complicated because I’ve been a 24-hour
market your London session New York etc so sometimes you need to play around
there my pivots I use an external third-party pivots and they’re a work on
exchange times okay so i can either have this up my local time here in australia
or exchange times what’s amazing it’s they still work fairly well even on
local time so just play around with pivots you have now pivot trading you’ve
heard me talk about this it’s not an exact science but when you’re trading
with the trend for an example and it comes up and retraces to your pivot
that can be a really good sir just a great trade so I do look at the pivots
likewise with the work that Ricardo did you’ll see in the rules that pivot
bounces we’re very very cautious of pivots very very cautious and we can see
here we’ve come down we’ve continued down so this is one of these days where
if you follow the trading rules of only following 3 34b’s you’d be kicking
yourself but of course you can be smashed as well if you don’t follow
those rules here of course you’ve got t20 finally we punched through okay
you’ve got a 34b you’ve got another 34 be this one you still have been in any
way because if you’re going for five six ticks you get an entry close above the
34 1 2 3 4 5 you’re still in it up till here now you’ve got a t20 you’ve got a
t20 here is your t21 so you’ve come through you bounced a little off your 89
come up now you’ve got you’re basically a 34b it’s a t25 we’ve got multiple
entry signals right here but what I wanted to point out was this here the
question I have about the T10’s notice up here that you it can be a little
confusing here because you’ve got virtually a t10 signal here you’ve got a
falling long-term Stoke and what do you do here but it is still really high this
is where the t20 just makes it a little cleaner okay so we’ve got your cross
over there you get another t20 here this t20 coincided with this t10 you can see
that there but what happened we come up we’ve bounced around and this is what I
mean about this resistance area we’ve bounced around you’ll stop would have
been down under here two tick so you would have been kept in that tray but
you know you might have broken out in a little bit of a sweat here you bounced
around and finally you’ve broken up and New York sorry not New York love a
London session so it’s now 6:24 pm. it’s 3:00am in New York over here and of
course London has been open for a good hour or so now so it’s really flying
along now another comment here from member last week was with the NQ 133
around this time how smooth the 133 or sorry didn’t say 133 how smooth the NQ
can be this time of day we’re starting to get a little bit of volume coming
through so you 50 you can still trade your 55 tick up to rating on but there’s
still some great trading opportunities now what would you do here traders well
ideally you know you want to see at least three of your EMA’s confirm the
trade okay your 34 of the 89 finally the eighth is above the 34 you’ve got a
confirmation of three this is an area where you can be really chopped around
you’ve also got a lot of pivot support but remember the rule of 33 EMA’s
confirming the trend but this can be tricky traders when most of you know
and those that I’ve coached once one done the private sessions with know that
if I have to losing trades in a trend or in an area i will set it out and i’ll
wait for a new trend right because this is where sometimes if ever I get chopped
up it’s usually in an area like this so I’m very cautious now when we come up
against the 200 so just be very aware here when you’ve got your EMA’s
horizontal this is where you just want to be very careful now this let me just
quickly go back to where over here back to this so traders I’ve covered a lot of
information I’ve mentioned the t7s and by the way the t7s your double tops
with the trend absolutely love them so if you’re looking for a great trend
trade of course t7s can be a counter trend I love them with the trend
the ninjatrader super scalper give me a week I’ve emailed just waiting
for payment instructions now to pay for it so all members are I’ll be giving
that to the indicator to your free of charge and so that should then complete
a complete suite of ninja trader indicators I think now we’ve also got to
complete suite of the think or swim and so we’re collecting as we’re going along
of course and all of these are we including the program the live room will
be doing the ES CL NQ then our next step then with a separate moderator will
be the forex will be the currency markets we’re not going to be able to
squeeze them all with the one mod now look our moderators in it to make money
i’m in the room to make money we’re all there to make money so it would it be
realistic so if you’ve got any preferences if you’re kicking butt with
a certain set up please let us know and we’ll just consider that most of you
know i’ll trade five or six strategies but it’s going to be too many for the
live room okay particularly if we want to get a spread of markets so we’re
going to have to get that hone down okay traders i’m probably this has gone way
over longer but i wanted to go but i wanted to give you a lot of information
here so one traders i’ll see you on the next video thank you very much

1 thought on “Day Trading Tips, Ideas And Questions From Members Answered!

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