Making $3,000 Trading This EXACT Same Setup | LIVE TRADING

Summary

In this trading tutorial, the host discusses a successful strategy of 'break and retest' on Tesla's stock, which has yielded over $3,000 in two days. The video, recorded on a Monday and released on Tuesday, reviews the strategy using Tesla's five-minute chart, focusing on the stock's behavior against the market. The host emphasizes the importance of watching for breaks below previous day's lows during pre-market action and subsequent rejections during intraday trading. The video includes a live recording of a Thursday trade and an Nvidia trade example, illustrating the strategy's application in both bullish and bearish scenarios. The host encourages viewers to incorporate this method into their trading toolkit for consistent results.

Takeaways

• 📈 The video discusses a trading strategy focused on the 'break and retest' of previous day's lows or highs, which the speaker has successfully applied to Tesla and Nvidia stocks.
• 💡 The speaker emphasizes the importance of watching for breaks below the previous day's low during pre-market hours as a key indicator for potential trades.
• 📉 The strategy involves entering trades when there's a rejection of the previous day's low or high, indicating a potential continuation of the trend in the opposite direction.
• 🤑 The speaker shares personal trade examples, making over three thousand dollars on Tesla using this strategy on two consecutive days.
• 📅 The video is recorded on a Monday and released on Tuesday, providing a one-day retrospective analysis of the trades taken on Thursday and Monday.
• 🔍 The speaker uses the five-minute chart to identify potential trading opportunities and the two-minute chart for trade execution, finding it clearer for analysis.
• 🚀 The video includes a live recording of a trade from Thursday, demonstrating how the speaker executed the trade in real-time and managed the position.
• 📹 Additional live trades, including one on Nvidia, are mentioned and included at the end of the video to showcase the strategy's versatility.
• 💼 The speaker suggests that this strategy is not glamorous but is reliable and repeatable, which is crucial for consistent trading success.
• 👍 The video encourages viewers to like, subscribe, and learn from the demonstrated trading techniques, aiming to add value to their trading toolkit.

Q & A

What is the main trading strategy discussed in the video?

The main trading strategy discussed in the video is the 'break and retest' of previous day's low or high levels, which the trader uses to set up trade entries.

How much profit did the trader make on Tesla using this strategy?

The trader made over three thousand dollars on Tesla using this strategy over two trading days.

What does the trader look for in the pre-market to identify a potential trade?

The trader looks for a break below the previous day's low in the pre-market, which is a key signal for the 'break and retest' strategy.

What is a 'bull trap' as mentioned in the video?

A 'bull trap' is a term used when the price of a security rallies, creating a false impression of a trend reversal, only to reverse course and continue its downward movement.

Why does the trader feel confident when trading the 'break and retest' setup?

The trader feels confident with the 'break and retest' setup because it aligns with their trading strategy and offers a clear risk-to-reward ratio.

What is the significance of the previous day's low or high in the trader's strategy?

In the trader's strategy, the previous day's low or high acts as a key level that, when broken and retested, can indicate a strong reaction in the market, providing potential trading opportunities.

How does the trader manage their trades during live trading?

The trader manages their trades by closely monitoring the price action, setting stop losses, and taking profits when the market moves in their favor.

What is the importance of the intraday price action for the trader's strategy?

Intraday price action is important for the trader's strategy as it provides real-time data on how the market is reacting to key levels, which can confirm or invalidate their trade setup.

What is the role of the live recording in the video?

The live recording in the video serves to demonstrate how the trader executed their trades in real-time, providing viewers with a practical example of the 'break and retest' strategy in action.

What other stock example is given in the video besides Tesla?

Besides Tesla, the video also provides an example of the 'break and retest' strategy applied to Nvidia, where the trader took a trade based on the break and retest of the previous day's high.

What advice does the trader give to viewers about incorporating the 'break and retest' strategy into their own trading?

The trader advises viewers to look for the 'break and retest' setups on a daily basis, understanding the risk and reward, and to use it as a repeatable strategy for consistent trading.