Daily FX Trading Strategies | Step By Step Day Trading Revealed

Summary

In this video, Emily, a Forex trader and full-time mother, shares her recent trading experience, making $1,500 from a $100,000 account with the 5 Percenters program. She discusses the importance of risk management over aiming for big wins, especially during slow market periods. Emily provides insights into her trading strategy, focusing on price action, market structure, key daily levels, and Fibonacci retracements. She also addresses the challenges of balancing trading with motherhood and the decision-making behind her trades.

Takeaways

• 😀 Emily, the channel owner, is a full-time Forex trader and a mother of two young boys, balancing her trading career with family life.
• 🔍 She warns her audience about fake accounts impersonating her on YouTube and advises vigilance against potential scams.
• 📘 She is working on an e-book titled 'Forex Trading 101: A Guide for Beginners' and invites interested parties to join a waiting list.
• 💡 Emily emphasizes the importance of risk management in trading, especially during slow market periods, and shares her strategy of surviving and thriving in such conditions.
• 📉 She discusses her trading performance for the week, highlighting that despite no significant wins, she managed to finish with a profit, underscoring the value of consistent risk management.
• 🏦 Emily shares her experience with the 5 Percenters, a prop firm, and explains the different funding programs they offer for traders at various stages.
• 📊 She provides a detailed breakdown of her trades for the week, focusing on the GBP/USD pair, and explains her trading decisions based on market analysis.
• 📈 Emily uses technical analysis tools like Fibonacci retracements, key daily levels, and institutional price levels to identify trading opportunities.
• 🚫 She mentions not trading live due to her busy schedule as a mother but expresses her intention to share live trades when her situation allows.
• ⏰ Emily discusses the impact of market sessions on trading, particularly noting the challenges and opportunities presented by different times of the day.

Q & A

How much did Emily make from day trading this week?

Emily made $1,500 from day trading this week.

What is the size of Emily's trading account?

Emily's trading account is $100,000.

How long has Emily been day trading the US Stock Market?

Emily has been day trading the US Stock Market for around 5 years.

What trading instrument has Emily gravitated towards?

Emily has gravitated towards day trading Forex.

What is the main reason Emily shares her trading journey on her channel?

Emily shares her trading journey to document her growth and development as a Forex Trader.

What is the status of Emily's upcoming ebook, 'Forex Trading 101'?

The ebook 'Forex Trading 101' is still in the making and going through the final editing processes.

Why can't Emily share live trades at the moment?

Emily is currently unable to share live trades because her live trading process is very busy and she is also juggling childcare.

What is the name of the broker Emily recommends for beginners?

Emily recommends Vantage as a broker for beginners.

What is the significance of the $1,500 profit Emily made this week?

The $1,500 profit is significant because it represents three times her risk for the week, which she considers a good result for a slow and choppy week.

What trading program is Emily currently on with the 5 Percenters?

Emily is currently on the 'High Stakes' program with the 5 Percenters, which is a two-step program leading to a fully funded account with a profit split.

What trading strategy did Emily use for her first trade on Monday?

For her first trade on Monday, Emily used a short position following a pullback and a break below the previous daily low, using Fibonacci retracement to find her entry point.