FXALEXG's Set and Forget Strategy made me $10,000!

Summary

In this engaging trading video, the presenter discusses their latest experiences using a software tool called Edge Finder, which helps confirm trades by revealing bank buying trends. They analyze the NZDCAD pair, focusing on bullish and bearish trends across different time frames and share their strategies for entering the market. With a recent 10K profit on a funded trading account, the presenter emphasizes the importance of aligning trading decisions with fundamental data and encourages viewers to do their own analysis. The video concludes with an invitation for viewers to engage with more trade breakdowns in future content.

Takeaways

• 😀 Understanding market movements is crucial; retail traders should consider insights from major players like banks and hedge funds.
• 📈 Using tools like the Edge Finder can provide additional confirmation for trading decisions based on market trends.
• 💡 While trading strategies are important, it's essential to remember that no analysis is 100% accurate.
• 📊 The speaker emphasizes focusing on price structure and analyzing multiple time frames for better trade setups.
• 🔍 Conducting personal research and analysis is key; traders should not rely solely on others' opinions.
• 💰 The speaker recently made a significant profit from trading, indicating effective strategy implementation.
• 🗓️ Weekly planning and analysis of trade setups can enhance trading performance and decision-making.
• 🔄 The importance of recognizing pullbacks and drawdowns without panic is highlighted as a vital trading mindset.
• 📝 Engaging with the trading community and sharing insights can foster learning and improvement among traders.
• 🚀 The speaker expresses excitement for upcoming trading opportunities and encourages viewers to stay informed.

Q & A

What is the purpose of using The Edge Finder software in trading?

The Edge Finder software is used to gain additional confirmation on trades by tracking the activities of banks and larger entities in the market.

How does the speaker feel about retail traders' influence in the market?

The speaker acknowledges that retail traders do not have the power to move the market like whales, banks, and hedge funds do, which can affect their trading confidence.

What does the speaker mean by 'fundamentals aligning with trading decisions'?

It means that when the market fundamentals support the trading strategy, it gives the trader more confidence in their decisions, even amidst market pullbacks.

What trading pair does the speaker focus on in their analysis?

The speaker focuses on the NZD/CAD currency pair and discusses its market conditions and potential trading strategy.

What key indicators does the speaker look for before entering a trade?

The speaker looks for bullish candles and price structure to identify favorable entry points in the market.

What was the speaker's recent trading success, and how did it affect their account balance?

The speaker made $10,000 from a trade, increasing their account balance from $96,000 to $106,000.

What advice does the speaker give regarding taking trading advice from them?

The speaker advises viewers to conduct their own analysis and research rather than relying solely on their insights.

How does the speaker plan to engage with their audience regarding trading breakdowns?

The speaker invites feedback from the audience on whether they want to see more trade breakdowns in future videos.

What is the significance of understanding CAD news for the speaker's trading strategy?

Understanding CAD news helps the speaker anticipate market movements, as they noticed price changes in response to news releases.

What sentiment does the speaker express about market pullbacks?

The speaker expresses a level of comfort with market pullbacks, indicating they are not overly concerned as long as their trading fundamentals align.