I make a living trading Price Action, here’s how.

Summary

This video script details a trader's daily strategy for trading gold, emphasizing consistency and simplicity. The trader demonstrates how to capitalize on high volume pushes during the second hour of the Asia session, using the USDX (DXY) as a bearish indicator to spot inverse bullish opportunities in gold. The script highlights the importance of timing, market structure, and trading at the same time daily to recognize patterns and execute profitable trades. The strategy involves entering and exiting trades in one move, avoiding pullbacks, and stacking probabilities in favor for high probability moves.

Takeaways

• 📈 The trader focuses on trading gold with a consistent strategy, emphasizing the importance of timing and daily repetition for profitability.
• 🕒 The second hour of the Asian trading session is highlighted as a key time for trading gold due to increased volume and market movement.
• 📊 The trader uses technical analysis, particularly looking at the relationship between gold and the US Dollar Index (DXY), which often move inversely to each other.
• 🔍 High volume entries are sought after for trades, as they indicate strong market movements and potential for profitable trades.
• 📍 The trader looks for specific candlestick patterns, such as the Alley candle, to identify potential trade opportunities.
• 🚫 Aggressive trade management is used, with the aim of entering and exiting trades in a single move to avoid pullbacks, which is typical in scalping strategies.
• 🤖 Consistency in strategy and execution is emphasized, with the trader using the same approach every day to stack probabilities in their favor.
• 📉 The trader mentions taking profits at areas of interest, such as previous highs, and using pip movements as a measure of trade success.
• 🔄 The concept of market structure as a push and pull is discussed, indicating that after a strong move, the market often corrects itself.
• 🌐 The trader uses a community platform, such as Discord, to share trades and analysis, suggesting the value of community in trading.
• 📝 The importance of trading the same time every day is underscored to recognize and exploit recurring market patterns and behaviors.

Q & A

What is the speaker's trading strategy for gold?

The speaker trades gold by looking for a high volume push during the second hour of the Asia trading session, focusing on the inverse correlation between gold and the US Dollar Index (DXY).

How much profit did the speaker claim to make in just 2 minutes?

The speaker claimed to make over $4,000 in just 2 minutes using their trading approach.

What time frame does the speaker focus on for trading gold?

The speaker focuses on the second hour of the Asia trading session, which is around 11:00 p.m. to 1:00 a.m. GMT.

What is the significance of the DXY in the speaker's trading strategy?

The DXY is significant because the speaker looks for a bearish movement in the DXY as it has an inverse correlation with gold, indicating a potential bullish movement in gold.

What does the speaker mean by 'scalping' in the context of trading?

Scalping refers to making numerous trades to profit from small price movements, typically within minutes, and exiting positions quickly without holding through pullbacks.

How does the speaker manage trades aggressively based on reactions?

The speaker manages trades aggressively by closely monitoring how the market reacts to price movements, particularly in relation to the DXY, and adjusting entry and exit points accordingly.

What is the importance of trading at the same time every day according to the speaker?

Trading at the same time every day is important because it allows the trader to recognize and connect with recurring patterns and market behaviors, which can increase the probability of successful trades.

What does the speaker mean by 'continuation' in the context of the market?

In the context of the market, 'continuation' refers to the price continuing in the direction of a recent trend or move, often after a brief pause or consolidation.

What is the significance of the 4-Hour open in the speaker's trading strategy?

The 4-Hour open is significant because it often brings in higher trading volume, which can lead to more pronounced price movements and better trading opportunities.

How does the speaker use the concept of 'confluence' in trading?

The speaker uses confluence to refer to the alignment of multiple technical analysis factors, such as price action, volume, and time frame indicators, which can increase the probability of a successful trade.

What is the speaker's approach to consistency in trading?

The speaker emphasizes the importance of being consistent by trading the same strategy every day, focusing on executing the same approach and stacking probabilities in their favor.