TOP 4 Trading Strategies to Make $500/Day For Beginners
Summary
TLDRThis video introduces four back-tested trading strategies to generate $500 daily profits. It covers techniques like stop hunting, Fibonacci retracement, CCI divergence, and range trading, providing specific instructions for implementation and emphasizing the importance of a reliable broker for executing trades.
Takeaways
- 📈 The video introduces four trading strategies designed to generate $500 per day in profits, all of which have been back-tested for high win rates.
- 🎯 The first strategy involves using 'stop hunts' to find trade opportunities, where the price is expected to reverse from a support level but instead hits a stop loss, often manipulated by institutions.
- 🔍 To implement the first strategy, traders should identify obvious key levels (support or resistance) and watch for price action at these levels, zooming in to lower time frames for better analysis.
- 💰 For the first strategy, placing a limit sell order below a key level can capitalize on a stop hunt, with an additional limit buy order above the breakout to cover both potential directions.
- 📊 The second strategy utilizes the Fibonacci retracement tool, focusing on the 0.618 and 1.618 levels to identify potential pullback ends and set profit targets.
- 📈 In the second strategy, multi-time frame analysis is crucial, using indicators like MACD for trend confirmation at lower time frames.
- ⏱️ The third strategy is a scalping approach using the 1-minute time frame and the CCI indicator to spot divergences, which can signal potential buy or sell opportunities.
- 📉 The fourth strategy focuses on trading range markets, identifying support and resistance levels and using a 'midline' to determine entry and exit points within the range.
- 🔄 The fourth strategy emphasizes the importance of price action analysis around the midline, looking for decisive breaks or rejections to confirm trades.
- 🤝 The video recommends using a reliable broker like Simple FX for executing trades, highlighting its ease of use, low fees, and the availability of a $40 deposit bonus for new users.
Q & A
What are the four trading strategies discussed in the video?
-The video discusses four trading strategies: 1) Stop Hunt Strategy, 2) Fibonacci Retracement Strategy, 3) CCI Divergence Strategy, and 4) Range Market Strategy.
What is a stop hunt and how can it be used to find trade opportunities?
-A stop hunt is a tactic used by institutions to trigger stop losses of retail traders by causing the price to briefly move against the expected direction before reversing. Traders can use this to their advantage by placing a limit sell order below a key level after a breakout, hoping to catch a reversal if the breakout is a stop hunt.
How does the Fibonacci Retracement Strategy work?
-This strategy involves using the Fibonacci tool to identify potential end points of a pullback or retracement. Traders focus on the 0.618 and 1.618 levels, applying the tool to a trend with a slight retracement and looking for rejection at these levels to enter trades.
What is the CCI Divergence Strategy and how is it used in trading?
-The CCI Divergence Strategy involves using the Commodity Channel Index (CCI) indicator to spot divergences between the price movement and the indicator. A bullish hidden divergence, where the price forms lower lows but the CCI displays higher lows, presents a good opportunity to take a buy position.
What is the Range Market Strategy and how does it differ from other strategies?
-The Range Market Strategy is used when the market moves sideways, identifying both support and resistance levels. Unlike other strategies, it also takes advantage of price action in the middle area, using a midline to determine whether the price will likely move towards the bottom level or retest the resistance level.
How can traders determine if a breakout is a stop hunt or an actual breakout?
-Traders can determine this by placing a limit sell order below a key level after a breakout. If the breakout is a stop hunt, the sell order will be triggered as the price reverses. If it's a real breakout, the sell order won't be triggered, and no money is lost.
What is the role of the MACD indicator in the Fibonacci Retracement Strategy?
-The MACD indicator is used for trend confirmation in the Fibonacci Retracement Strategy. It helps traders determine if the price is likely to bounce upwards from the 0.618 Fibonacci level by observing if the MACD crosses over upwards.
How can traders manage risk in the CCI Divergence Strategy?
-Risk management in the CCI Divergence Strategy involves setting a take-profit target at a minor resistance level and a stop loss slightly below the support area. This helps limit potential losses while allowing for profit when the price hits the target.
What is the significance of the midline in the Range Market Strategy?
-The midline in the Range Market Strategy divides the range into two zones: the upper zone and the bottom zone. It helps traders determine the likely direction of the price movement within the range by observing how the price reacts to the midline.
Why is it important to have a good broker when implementing these trading strategies?
-A good broker is crucial for executing trades efficiently. They should offer a user-friendly platform, a wide range of trading instruments, low fees, and additional benefits like deposit bonuses, which can enhance the trading experience and profitability.
Outlines
📈 Leveraging Stop Hunts for High Win Rate Trades
This paragraph introduces a trading strategy that utilizes stop hunts to identify high win rate trade opportunities. The strategy involves identifying key support or resistance levels that are obvious to many retail traders, making them susceptible to stop hunts by institutions. Traders are advised to wait for the price to approach these levels again and then zoom in to a lower time frame to analyze the price action. If a breakout occurs, a limit sell order is placed below the key level to capitalize on a potential stop hunt. Additionally, a limit buy order is placed above the breakout to cover both scenarios. The importance of setting stop-loss and profit targets is emphasized to manage risk.
📊 Using Fibonacci Retracement for Trend Trading
The second strategy focuses on using the Fibonacci retracement tool, specifically the 0.618 and 1.618 levels, to identify potential pullback or retracement ends. Traders are instructed to look for a price action with a trend and a slight retracement, apply the Fibonacci tool, and wait for the price to pull back towards the 0.618 level. A multi-time frame analysis is suggested, using the MACD indicator on a lower time frame for trend confirmation. Once confirmed, a buy position is entered, and the 1.618 level is used to set a target profit. The strategy aims to capitalize on the retracement ending at these specific Fibonacci levels.
💱 Scalping with CCI Indicator and Divergence
This paragraph outlines a scalping strategy using the CCI indicator on a 1-minute time frame. The strategy involves identifying divergences, where the indicator displays opposite signals to the price movement. A bullish hidden divergence is highlighted as a good opportunity to take a buy position. The speaker demonstrates a live trading session, applying the CCI indicator, identifying a divergence on the Bitcoin USD chart, and entering a buy position with a take-profit target and a stop loss. The strategy is shown to be effective in generating quick profits, and the speaker recommends a broker for executing such trades.
🔄 Trading Range Markets with Midline Strategy
The final strategy discussed is for trading range markets, where prices move sideways most of the time. Traders are advised to identify a range market and find both support and resistance levels. A midline is drawn in the middle of these levels, dividing the range into upper and lower zones. The strategy involves identifying the current price position in the range and waiting for the price to approach the midline. If the price breaks the midline decisively, it's likely to move towards the bottom level. However, if there's rejection at the midline, the price may retest the resistance level. A buy position is entered in the latter scenario, with a profit target set at the resistance level and a stop loss slightly below the entry. The speaker also promotes a broker partnership for executing trades and offers a deposit bonus for new users.
Mindmap
Keywords
💡Trading Strategies
💡Stop Hunt
💡Support Level
💡Limit Order
💡Fibonacci Retracement
💡Divergence
💡CCI Indicator
💡Range Market
💡Midline
💡Stop Loss
💡Profit Target
Highlights
Introduction of four simple-to-learn trading strategies that can generate $500 per day in profits.
All strategies are back-tested with a high win percentage.
Specific instructions provided for easy implementation after watching the video.
First strategy involves using a stop hunt to find trade opportunities.
Explanation of what a stop hunt is and how it is used by institutions to trigger stop losses of retail traders.
Technique to use stop hunts to gain high win rate trade opportunities.
Finding an obvious key level, either support or resistance, that is susceptible to a stop hunt.
Waiting for the price to approach the key level again and break out to identify potential stop hunts.
Using limit sell orders below key levels to capitalize on stop hunts.
Placing limit buy orders above breakouts to play both directions in the market.
Second strategy utilizes the Fibonacci retracement tool differently by focusing on the 0.618 and 1.618 levels.
Quick explanation of how the Fibonacci tool works and its use in identifying retracement ends.
Applying the Fibonacci retracement tool to identify potential retracement ends and setting profit targets.
Third strategy is a scalping strategy using the 1-minute time frame and the CCI indicator.
Explanation of divergences and how they can be used to identify trading opportunities.
Live trading session demonstrating the use of CCI for identifying bullish hidden divergences.
Fourth strategy focuses on trading range markets, which occur about 70% of the time.
Identifying support and resistance levels within a range market and using a midline for additional trading signals.
Analyzing price action as it approaches the midline to determine whether to enter a buy or sell position.
Recommendation of a broker, SimpleFX, for executing trades and a $40 deposit bonus offer.
Transcripts
hey traders in this video I'll be
showing you four simple tolearn trading
strategies that's able to generate $500
per day in profits and of course these
strategies are all back tested to have a
high win percentage so you can trust
that they work and the best part is that
I've laid out Specific Instructions that
you can easily follow so after watching
this video you can Implement these steps
and start trading immediately so without
further Ado let's move on with the first
strategy for this strategy we're taking
advantage of what's called a stop hunt
in order to find trade opportunities now
for those of you who don't know what a
stop Hunt is here's an example so let's
say you look at a chart and you see the
price rejecting an area multiple times
so you draw a support level next as it
approaches that level again you think to
yourself hm the price did reverse from
this support level in the past so maybe
it could reverse from it once again
hoping for a reversal you enter a buy
position now being the dis Trader that
you are you didn't forget your stop loss
so you place it slightly below that
support level however instead of
reversing from that level price instead
went down hitting your stop- loss first
before reversing back up this is called
a stop hunt and it is purposely done by
institutions to hunt the stop losses of
retail Traders Now using the right
Technique we can actually use these stop
hunts to our advantage to get high win
rate trade opportunities and this is how
so the first step is you want to to find
an obvious key level this could either
be a support or a resistance level but
remember the key word here is obvious
because you want to find a level where
many retail Traders are also paying
attention which is usually more
susceptible to a stop hunt here we can
see that the price went up to this level
and reversed from it making it an
obvious resistance level the next step
is to wait for the price to approach
that level again and break out of
it once this happens you take a closer
look at the price action that's
happening at that area so you zoom in
two time frames below for example
currently we're on the 4-Hour chart so
let's zoom in into the 2hour chart now
in the 2-hour chart we can actually see
a large green candle breaking that
resistance area now a question Rises how
do we know if this will be a stop hunt
or an actual breakout and price did
continue upwards so the good thing about
this strategy is we could still make
profits regardless of what's going to
happen so what I do instead as soon as
the price breaks this resistance area I
immediately place a limit sell order
below this key level now for those of
you who don't know what a limit order is
it's simply just an order to open a
position at a specific price so only if
price touches my limit order a sell
position would open if it doesn't then
no position would open by doing this if
this breakout happens to be a stop hunt
then our sell order will be triggered
and we would make money as the price
reverses back down however if this
happens to be a real breakout and price
did continue upwards our sell order
would not be triggered and we won't lose
any money now to add another layer to
the strategy we can also place a limit
by order above the breakout and the idea
behind this is we're playing both
directions if this was a breakout then
our limit buy order would get triggered
and we would make a profit as price
continues to go up however if this was a
stop hunt then our limit sell order will
be the one that gets triggered and we
would make profit as price R versus back
down now of course there's still the
risk that price moves in the opposite
direction after whenever limit order is
triggered that's why it's important to
place a stop-loss and profit Target
after one of them is triggered now let's
see which limit order would get
triggered as you can see price move
downwards and triggers our salate order
which opens a sell position after the
sell position is opened you place a stop
loss in the middle of the breakout
candle and take profit at four time stop
loss and as you can see see price
continued downwards and hits her take
profit let's move on to the second
strategy so for this next strategy we're
utilizing the Fibonacci retracement tool
but we'll be using it slightly different
from what is usually taught now for
those of you who don't know how the
Fibonacci tool Works here's a quick
explanation so it is simply a tool that
is used to identify where a pullback or
a retracement might end for example if
price move upwards and forms a slight
retracement we can apply the Fibonacci
retracement tool to know where this
retracement might end to do this you
drag the tool from the swing low to the
swing high once applied Traders can
observe these levels as they often act
as possible levels where the retracement
may
end so for this specific strategy we're
only using the 0.618 and the 1.618
Fibonacci level to do that you go to the
settings of the Fibonacci tool and
disable all the other levels except the
0.618 and the
1.618 once you've done that your
Fibonacci tool should look like this now
here's how you trade the strategy the
first step is to look for a price action
where there's a trend and a slight
retracement like in this
example next you apply the Fibonacci
retracement tool on that price action
from here we wait for the price to pull
back towards the 0.618
level and try to see if the price shows
some type of rejection towards it to do
that we do a multi-time frame analysis
by looking at lower time frames to
analyze the price action further so
we're on the 4-Hour time frame let's
zoom in into the 1H hour time frame now
in the 1hour time frame we can apply the
macd indicator for Trend
confirmation as you can see the macd
indicator crossed over upwards after
price hits the 0.618 level which further
confirms that the price will likely
bounce upwards from that level and so we
go back to the 4-Hour time frame and
enter a buy position the next step is we
use the tool once again take the last
highs of the retracement and drag it
towards the lows of the retracement and
this is where the 1.618 level comes into
play we use it to set our Target profit
once you've done that you can let the
trade
run and as you can see price exactly
hits our profit Target now let's move on
to the third
strategy so unlike the other strategies
on this list this one is a scalping
strategy and we'll trade it on the 1
minute time frame using an indicator
called the CCI and So based on back
testing results the CCI is particularly
effective for identifying divergences
but for those of you who don't know how
to spot divergences here's a quick
example so usually an indicator will
display the same signal as the price
movement if the price forms higher highs
the indicator will also display higher
highs however there are setups where
it's the opposite for example price
forms higher lows but the indicator
displays lower lows instead and this is
called a Divergence specifically this is
a bullish hidden Divergence presenting a
good opportunity to take a buy position
there are multiple types of divergences
and you can use this graphic as a guide
to identify them now I'm going to prove
that this strategy works by doing a live
trading session so first you want to
apply the CCI indicator onto your charts
and if you're using the simple FX
platform like I am you can go to the
indicator section and select
CCI after that go to the one minute
chart and find a setup where the price
forms a Divergence you can use the
search menu here to find different
charts whether it be crypto Forex stocks
or others so after some searching I came
across this setup on the Bitcoin USD 1
minute chart price formed lower lows but
the CCI displays higher lows and based
on the guide this is a bullish
Divergence so you enter a buy position
to do that click the buy button here and
set your position size for this trade
next for a take- profit Target we can
set it at this minor resistance level at
64379 so you insert
that now for a stop loss we can set it
at slightly below the support area at
6429 and insert that as
well here you can see how much you'd
make if price hits her profit Target and
how much we' lose if the price hits our
stop loss next click submit to open the
trade and let the trade
run and as you can see price hits our
takeprofit and we made $90 profit in a
couple of minutes from this one setup
you can keep repeating this strategy
over and over again as long as you spot
a Divergence and by the way if you're
looking for a broker to win more trades
I highly recommend clicking the link in
the description for simple effects
they're very simple to use have all the
tools you need to make an analysis and
you can trade multiple assets on one
platform and if you use the link in my
description you'll get a $40 deposit
bonus if you deposit at least $100 into
your account now let's move on to the
fourth strategy
so this one is one of my most profitable
strategy that has allowed me to scale my
trading account considerably and this is
how so we know that markets are only
trending about 30% of the time while
remains within a range about 70% of the
time this means that prices aren't
always moving towards a certain Trend
most of the time they move overall
sideways while deviate between certain
levels because of this if you know a
strategy to trade range markets you'll
be able to generate more profitable
signals and and here's how the strategy
works the first step is to identify a
range Market which is simply a market
that moves overall sideways now during a
range Market you should be able to
identify both support and resistance
level within that range for example if
price rejects an upper level multiple
times that's your resistance and if it
rejects a lower level that's your
support now here's how a trade range
markets differently for most Traders
instead of only trading at these major
key levels I also take advantage of the
price action that happening in this
middle area and to do that I draw
another line in the exact middle of
these major key levels this is what I
call the midline so using the midline
that we drew we can now see that the
range is divided between two zones the
upper Zone and the bottom zone so we
know that as long as price stays within
this range only two things could happen
either it stays on this upper zone or
switch to this bottom Zone and it will
keep doing this until eventually price
breaks out of the range but for this
strategy we only trade if the price
Still Remains within this range so
here's how it works the first step is to
identify where the current price is
positioned in this example it is
currently in the upper Zone after it
rejected this resistance level next you
wait for the price to approach the
middle line now remember what I said
earlier as long as the price is still
inside this range it's either going to
stay on this upper Zone and bounce
upwards from this middle line or switch
to this bottom Zone and breaks this
Middle Line downwards in order to know
that we need to analyze the price action
as it approaches this middle line so a
rule of thumb to remember is that price
will likely move towards the bottom
level if it manages to break the middle
line decisively for example if there's
one giant momentum candle Crossing down
or if there are multiple red candles
however if we manage to see some type of
rejection in this middle line there's a
high chance that the price will likely
remain above the middle line and retest
the resistance level so let's see what
happens to the price next
as you can see it briefly broke through
the middle line but managed to bounce
back up indicating that there's a slight
rejection in this middle area however
because this is only a slight rejection
we still need more confirmation so let's
not rush to take a position and observe
what happens
next here we can see that the price
briefly moved downwards all the way here
but buyers pushed it back up before the
candle manages to close which forms this
long Wick below this candle so now after
multiple attemps of breaking below the
middle line price failed to do so
meaning there's a chance that the price
will actually remain above the upper
level and retest this resistance level
so this is a good opportunity to enter a
buy position as for your profit Target
set it at the resistance level and stop
loss at slightly below your
entry and as you can see price went
upwards towards the resistance level and
hits our take profit so guys for
profitable strategies like this you
would also need a good broker to execute
these trades which is why I partnered
with simple effects to make your trading
easier simple effects is a broker that
lets you trade any instrument including
stocks Forex crypto and more all in one
platform they're very simple to use and
they also come with a built-in trading
view chart so you can analyze trades and
execute them within the same platform
they have no minimum deposit which means
you can start trading with as little as
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fees on the market and if you sign up
using my link below you'll get a free
$40 bonus in trading Capital if you
deposit at least $100 of course you'll
get more rewards as you deposit more so
big thanks to simple effects for helping
me make this video possible that's all
for today thank you so much for watching
and I'll see you in the next video
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