last 3 days result

Summary

In this detailed trading tutorial, the speaker covers various high-probability setups, trade executions, and the importance of following strict trading rules. The mentor emphasizes a disciplined approach, sharing results from multiple trades over several days, while explaining entry and exit points based on specific candlestick patterns and momentum. The mentor also advises keeping a trading journal to track performance, mistakes, and emotional influences. With a high win rate of 90%, the speaker highlights the significance of consistency, learning from past trades, and continuously improving one's trading strategy.

Takeaways

• 😀 Always track daily trades using a journal to analyze performance and identify mistakes.
• 😀 Medium and high probability setups should be carefully distinguished before entering trades.
• 😀 Entry decisions are based on candle patterns, momentum candles, retracements, and trend direction.
• 😀 Stop-loss placement is crucial; avoid placing it too tight to prevent unnecessary hits.
• 😀 Re-tests and breakouts play a critical role in confirming trade setups and increasing probability of success.
• 😀 Not every candle that touches or aligns with criteria forms a valid trade; strict rules must be followed.
• 😀 Trades can fail or hit stop-loss even if they appear correct, emphasizing discipline over emotion.
• 😀 Trend identification (bullish or bearish) is essential for determining valid trade opportunities.
• 😀 Accurate counting of successful trades versus stop-losses helps maintain realistic performance tracking.
• 😀 Overconfidence or excessive excitement can be dangerous; following process consistently is more important than chasing every setup.
• 😀 Video guidance and detailed post-mortem analysis are essential for learning and refining trading strategies.
• 😀 Patience is important; sometimes waiting for a proper retracement or confirmation avoids entering poor trades.

Q & A

What is the main purpose of the mentor in the video?

The mentor's main purpose is to guide students through trading setups, explain the rules for entering trades, and help them match their trades with daily results to identify mistakes and improve their trading strategy.

What is meant by a 'momentum candle' in this context?

A momentum candle refers to a specific type of candlestick that shows strong directional price movement. It is used to identify breakouts and potential trade entries based on its closing position relative to other candles.

How does the mentor classify trades into medium or high probability?

Trades are classified based on candlestick patterns, breakouts, and momentum. High-probability setups involve clear breakouts with proper momentum candle closings, while medium-probability setups may require re-tests or have smaller breakouts.

Why is a 'retest' important in the trading strategy discussed?

A retest is important because it confirms the strength of a breakout. The mentor emphasizes entering trades at specific retracement levels (like 50%) after a momentum candle breakout to increase the likelihood of success.

How should a trading journal be maintained according to the mentor?

The journal should record all daily trades, specifying which setups were medium or high probability, which trades were taken, profits, stop losses, and any deviations from the rules to track performance and improve discipline.

What is the mentor's approach to stop-loss placement?

Stop-losses should not be placed too tightly. The mentor advises positioning them strategically based on the price action and candlestick patterns to prevent being stopped out prematurely while still managing risk.

What percentage of trades were successful over the three days discussed?

Out of 20 trades over the last three days, 18 trades hit their target (TP), and 2 trades hit the stop-loss (SL), giving a success rate of approximately 90%.

What role do wide candles play in the trading strategy?

Wide candles, especially with large wicks, can indicate volatility or strong price movement. The mentor often ignores trades from excessively wide candles because they can create uncertain stop-loss levels and reduce the reliability of the setup.

How does the mentor handle trades that technically meet criteria but do not align perfectly with the rules?

Trades that do not fully meet the rules, such as lacking a momentum candle breakout or proper retracement, are not counted as successful, even if they appear profitable. Students are encouraged to follow the exact criteria for accurate tracking.

What advice does the mentor give about emotions and excitement during trading?

The mentor advises students to control their excitement and follow the trading process carefully. Overconfidence or impulsive trading can lead to mistakes and losses, whereas disciplined execution of setups leads to consistent results.

Why is understanding the trend important in this trading methodology?

Recognizing whether the trend is bullish or bearish is critical because the setups and trade entries depend on trend direction. Entering trades against the trend can reduce probability of success and increase risk.

What is the significance of 50% retracement in the trading process?

The 50% retracement level is used as a reference for entering trades after a breakout. It provides a safer entry point, balancing risk and reward while confirming that the breakout has momentum and is not a false signal.