5 Scalping SECRETS that can Grow SMALL Forex Accounts FAST
Summary
TLDRThis video reveals five sculpting secrets for rapid trading account growth through scalping. It emphasizes eliminating mistakes, using key levels for strategic trades, focusing on quality over quantity of trades, applying progressive overload to increase lot size gradually, and committing to daily improvement. The speaker shares personal experiences and strategies, aiming to guide viewers from novice to successful, profitable traders.
Takeaways
- π Eliminate Mistakes: To become a successful trader, it's crucial to identify and stop repeating the same mistakes, which are often the root cause of losses.
- π Use Key Levels: Trading should not be random; instead, focus on key levels such as trend lines, support and resistance, or supply and demand zones for more strategic entries.
- π― Focus on Quality Over Quantity: It's better to take fewer, well-thought-out trades rather than numerous poor-quality trades. Aim for precision like a sniper rather than overtrading.
- π± Build Skills for Long-Term Success: Developing trading skills is more important than immediate profits. As skills improve, profitability will naturally follow.
- π‘ Learn from Experience: Apply what you learn about trading to gain experience, making trading decisions more instinctive and effective over time.
- ποΈ Progressive Overload: Just like in fitness, slowly increase your trading lot size to challenge yourself and grow your account without risking too much too soon.
- π« Avoid Emotional Trading: Don't let emotions like revenge or anger dictate your trading decisions. Maintain discipline and a clear, rational approach.
- π Continuous Improvement: Every day is a new opportunity to improve. Learn from past mistakes and strive to make the next day better than the last.
- π° Money is a Byproduct: Focus on becoming a skilled trader first; financial success will come as a result of your expertise and not the other way around.
- π Freedom and Fame as Side Effects: Successful trading can lead to various types of freedom and potentially fame, but these should not be the primary focus.
- π Invest in Yourself: Your circumstances do not define you. There's always a chance to improve your situation, whether it's through work, learning, or trading.
Q & A
What are the five sculpting secrets mentioned in the video for growing a trading account quickly?
-The five secrets are: 1) Eliminate mistakes, 2) Use key levels for trading, 3) Take the right trade focusing on quality over quantity, 4) Apply progressive overload by slowly increasing lot size, and 5) Improve every day by learning from mistakes and making tomorrow better than yesterday.
Why is eliminating mistakes important for becoming a successful trader?
-Eliminating mistakes is crucial because the fewer mistakes you make, the closer you are to becoming a successful trader. It helps in reducing losses and moving towards the success line, which represents profitability and consistency in trading.
What are some common mistakes made by traders that were highlighted in the video?
-Some common mistakes include revenge trading after a losing streak, forcing trades when there are no opportunities, and using a lot size that is too large for the account, which can lead to blowing the account.
What is a 'supply and demand zone' and how is it used in trading?
-A supply and demand zone represents areas of aggressive buying and selling in the market. Supply zones are identified by multiple red candlesticks indicating selling pressure, and demand zones by multiple green candlesticks showing buying pressure. Traders wait for the price to return to these zones to enter trades.
Why is focusing on the quality of trades rather than the quantity important for a trader?
-Focusing on quality over quantity helps in building trading skills and ensures that each trade taken is based on opportunity rather than the compulsion to trade every day. This approach leads to a more disciplined and profitable trading strategy.
What does the term 'progressive overload' mean in the context of trading?
-In trading, 'progressive overload' refers to the strategy of slowly increasing the lot size as you gain experience and confidence. This concept helps in managing risk and growing the trading account steadily without rushing the process.
How does the concept of progressive overload apply to a small trading account?
-For a small trading account, progressive overload means gradually increasing the lot size to challenge the account and grow it without taking on too much risk at once. It's about steady growth and avoiding large, risky jumps in lot size that could lead to significant losses.
What are the three main types of freedom mentioned in the video that a successful trader can experience?
-The three main types of freedom are location freedom, time freedom, and financial freedom. Location freedom allows working from anywhere, time freedom provides flexibility in work hours, and financial freedom comes from the profits made through successful trading.
Why should a trader not focus on making money as the primary goal when starting out?
-Focusing on making money as the primary goal can lead to rushed decisions and increased risk-taking, which may result in losses. Instead, a trader should focus on building skills, discipline, and a solid trading strategy, after which money will naturally follow as a byproduct of success.
What is the advice given in the video for someone who feels they cannot change their current situation in trading?
-The advice is to not view one's life or situation as fixed. There is always the opportunity to improve and change circumstances, such as by getting a job to increase income for trading or by learning from past mistakes to trade better in the future.
How does the video suggest traders should approach their mindset after making a mistake or losing money on a trade?
-The video suggests that traders should view life as a video game where mistakes are part of the learning process. They should not dwell on past errors but instead learn from them and focus on making the next day better, improving their trading skills and mindset continuously.
Outlines
π‘ Becoming a Profitable Trader: Eliminating Mistakes
The first paragraph emphasizes the importance of eliminating mistakes to grow a small trading account quickly. The speaker shares their experience of turning $500 into over $9,000 in just three days. They highlight three common mistakes traders make: revenge trading, forcing trades, and using an inappropriate lot size. The key to success is to reduce these errors, which will lead to a more profitable trading career. The speaker also introduces the concept of 'key levels' for trading, such as trend lines, support and resistance levels, and supply and demand zones, which are crucial for making informed decisions rather than random trades.
π― Focusing on Quality Trades Over Quantity
In the second paragraph, the speaker discusses the third secret to trading success: focusing on the quality of trades rather than the quantity. They advise against the common misconception that more trades lead to more profits. Instead, they suggest taking trades only when there is a clear opportunity, similar to a sniper's approach. The speaker also emphasizes the importance of building trading skills through experience and learning, which will naturally lead to financial success. They mention that success in trading involves hard work, discipline, taking the right trades, having a good strategy, and practicing proper risk management.
ποΈ Progressive Overload in Trading
The third paragraph introduces the concept of 'progressive overload' from fitness training as a strategy for growing a trading account. The speaker explains that just as one would gradually increase weights in a gym workout, traders should slowly increase their lot size to build up their account. They caution against the temptation to rush the process, which can lead to significant losses and psychological strain. The speaker provides examples to illustrate the dangers of increasing lot size too quickly and the benefits of a steady, incremental approach.
π Continuous Improvement: Making Each Day Better
The final paragraph focuses on the fifth secret of trading success: the commitment to improving every day. The speaker challenges the belief that one's life is fixed and unchangeable. They encourage viewers to take control of their circumstances, whether by finding ways to increase income or learning from past mistakes in trading. The speaker emphasizes the importance of learning from losses and using them as stepping stones to better trading in the future. They conclude with a reminder to enjoy the holiday season and to return to trading with a refreshed and motivated mindset.
Mindmap
Keywords
π‘Scalping
π‘Eliminate Mistakes
π‘Key Levels
π‘Supply and Demand Zones
π‘Quality over Quantity
π‘Trading Skills
π‘Progressive Overload
π‘Risk Management
π‘Consistent Profitability
π‘Freedom
π‘Improvement
Highlights
The video reveals five sculpting secrets for rapid trading account growth.
Eliminating mistakes is crucial for becoming a profitable scalp trader.
Revenge trading, forcing trades, and using oversized lots are common mistakes to avoid.
Success in trading is linked to minimizing mistakes and moving towards the 'success line'.
Discipline and learning from mistakes are key to reducing errors in trading.
Using key levels such as trend lines and support/resistance for trading decisions is emphasized.
Supply and demand zones are introduced as preferred key levels for trading entries.
The importance of waiting for the right trade opportunity rather than forcing trades is highlighted.
Quality over quantity in trading to build up trading skills effectively.
Building trading skills leads to financial success as a natural byproduct.
Success ingredients include hard work, discipline, and taking the right trades.
Progressive overload in trading involves slowly increasing lot size to grow an account.
The dangers of rushing the process and the importance of steady growth are discussed.
Improving every day and not being defined by current circumstances is encouraged.
The video ends with a motivational message to improve and make each day better than the last.
A reminder to balance trading with personal life and to enjoy the holiday season.
An invitation to subscribe and follow on Instagram for more trading insights.
Transcripts
these are the five sculpting secrets
that allowed me to flip 500 to over nine
thousand dollars in three days so in
this video I'm gonna show you how to
grow a small trading account fast with
scalping the first secret is to
eliminate mistakes
100 a day or even 500 a day but hey Brad
I want to become a profitable food and
Trader oh yeah then why do you keep
making the same mistakes over and over
again so in order to become a successful
Trader you must learn how to eliminate
your mistakes because the Lesser
mistakes you commit the more closer you
are to becoming a successful Trader let
me show you what I mean so let's say
these are the mistakes so these little
circles are mistakes committed by you so
this is Revenge trading so let's say
that after losing streak you continue
trading even though you are supposed to
stop and take a break to recharge your
mind like to continue trading so that's
the first mistake they'll commit second
mistake comment is forcing threats right
even though there's no opportunities you
still trade because you want to trade
every single day and then the third
mistake could be let's say that you are
using a lot size that is way too big for
your account and you end up blowing that
account because of these stupid mistakes
so let's say you commit other mistakes
let's say have 16 mistakes and right
here on the right side we have this
thing called the success line all right
so this is where success is so in order
to get over to the success line to
become a profitable Trader who makes
money on consistent basis you must
eliminate all these mistakes and then
you will be able to advance to the
success line where you can finally
become a successful millionaire Trader
so let's say that you start getting
disciplined and you start writing down
your mistakes and learning from your
mistakes so you stop committing mistakes
right so you let's say you stop
committing the first mistake gone second
mistake gone third mistake gone and as
you reduce or rather eliminate the
amount of mistakes that you commit you
are literally getting more and more
closer to becoming a successful Trader
So eventually once you eliminate all the
mistakes bam the dream of becoming a
successful Trader but with that said we
are all humans so these mistakes that
you commit they will sometimes come back
to you so you have to make sure that you
eliminate it as soon as possible and do
not let it hang around mistakes are
basically losses right like whenever you
lose money you are literally committing
a mistakes it's always because of your
own mistake so try to eliminate these
mistakes and by eliminating these
mistakes you are eliminating the amount
of money that you are losing the second
mistake is to use key levels a lot of
new Traders they will get into a trade
randomly anywhere just because they see
price going up or they think that price
is going to go up so they will get in
for a buy you guys cannot trade like
that if you want to become a
consistently profitable Trader what you
should do instead is to trade when price
is at a key level example of key levels
are things like your trend lines support
and resistance levels supply and demand
zones I have literally done like a
complete guide like a full length
tutorial on each of these key levels
where you can check it out on my YouTube
channel but I personally prefer to use
supply and demand zone for those of you
who do not know what is supply and
demand it is basically aggressive buying
and aggressive selling let me show you
what I mean on the charts you can see in
this example there is a lot of
aggressive selling at this area right
here how do we know that because that is
multiple red candlesticks in a row which
tell us that there is a lot of sellers
in the market a lot of selling pressure
and momentum pushing the price down so
over here this is where we can draw our
supply zone so somewhere around here
this is our supply Zone because there's
a lot of selling pressure around here
and there's multiple red candlesticks so
what you want to do after drawing your
supply zone is to wait for price to come
back up to this Supply Zone and then
that is when you can look to enter for a
cell so in this case you can see price
eventually went back up to our supply
Zone and we could have easily entered
for ourselves right here place our stop
loss above the supply Zone and then
place our take profit at the next key
level around here as you can see in this
case there is multiple green
candlesticks three big green
candlesticks in a row which tell us that
is a lot of buying pressure a lot of
buyers in this market pushing the price
up so in this case what we can do is
that we can draw our demand Zone
somewhere right around here and the next
step is for us to wait for price to come
back down to this demand Zone then we
can look to enter for a buy so right now
we still be patient and wait for price
to come back down right here as soon as
price come back down to this demand Zone
look at what price did price start going
up a little bit giving us a little bit
of buying pressure because remember
buyers are waiting at this demand zone
so in this case once price came back
down to this demand Zone you can look to
enter for or buy somewhere right around
here and look at what price did price
actually literally ruptured and went up
to the Moon make use of this supply and
demand zones the Third Secret is to take
the right trade when someone asks me how
many trades do I take per day I straight
up know that they are broken remember
more trades does not it go to more money
when it comes to trading I want you to
focus on quality instead of quantity
instead of taking many shitty trades in
a row focus on taking one good trade
followed by another good trade and then
another good trade like a sniper do not
force trades just because you feel like
you have to trade every single day do
not Chase threats or Revenge trade or
over trade you should only be taking a
trade when there is an opportunity if
there is no opportunity stay out of the
market as simple as that so taking the
right trade will help you build up your
trading skills imagine that
it's like a game and you are at level
one because you are a newbie so to level
up you have to take the right trade and
every single time you take the right
trade that one good trade you can go up
by one level so once you level up
actually build your trading skills you
will eventually make more and more money
as a Trader you go out there and learn
everything there is to know about
trading and then you keep applying what
you learn in trading so you can gain
experience so once you have enough
experience trading actually becomes like
second nature like a muscle memory oh I
seen this setup before I know how to
trade this setup because I've seen this
same setup one thousand times look at
lawyers doctors professional athletes
why do they get paid so much money
because they have skills and they know
what they are doing so if you want to
build your trading account you have to
start by building your trading skills
money will come as a buy product
remember money is a side effect so you
should never ever focus on making the
most amount of money first focus on
building your trading skills first then
money will come let me show you what I
mean let's say that success is appeal
and appeal has many different
ingredients right and also side effects
let's list out some of the ingredients
of success so firstly obviously we got
hard work in order to become successful
obviously you have to work as hard as
possible people are working nine to five
you should be working from 9 to 12 a.m
discipline you need to discipline to do
the hard things especially when you
don't feel like it when I wake up this
morning I do not feel like recording
this video but I do it anyways because I
want to become a successful YouTuber oh
I don't feel like following my trading
plan I do it anyways because that helps
to build up my discipline as a Trader
and in order to become successful I know
that I need discipline and another
ingredient could be taking the right
trade just now I talk about how
important it is to take the right trade
right and also a good trading strategy
in order to become a successful Trader
if you give a [Β __Β ] trading strategy
guess what you won't become successful
no matter how disciplined or how smart
you are so make sure you go and back
test and find that one beautiful trading
strategy and then use that one high win
rate trading strategy and then you also
need to practice proper risk management
right in order not to blow your small
trading account so all of these are some
of the ingredients of success appeal has
side effects let's say number one
Freedom all right I talk about this a
lot the importance of freedom in humans
life when you actually Master trading
and actually become a consistently
profitable Trader and a successful
Trader like me you will experience all
types of Freedom the three main types
are location Freedom which means you can
work wherever you want you can be
sitting on a beach in Thailand you can
be traveling to Europe looking at some
beautiful snow and be trading that's
location Freedom that is also your time
Freedom time freedom is where you are
able to work whenever you want right you
don't have a boss to tell you that
oh hey bro you have to report uh the
office at 8 A.M thirdly it's your
Financial Freedom which brings me to the
next side effect which is money right
money catching baby so obviously when
you become a successful Trader obviously
money will come as a buy product you can
see I did not lease money as one of the
ingredients even though you need money
to trade right you should never ever
focus on making money first focus on
becoming a better Trader and money will
come so the third side effect clouds
okay as you become depending on what you
want to be maybe you want to be a
private person and you will have your
Instagram on private you don't want to
share your profits or whatever then
maybe you won't get this but chances are
if you want to become famous you will be
able to do that if you become successful
if you are a shitty losing Trader no one
is going to give a single solitary [Β __Β ]
about you you will not get Club if you
are a shitty Trader but if you become
successful Trader you actually work the
talk like what I do and you actually
become a successful Trader then Cloud
come as someone like a buy product this
is just like my unfiltered opinion and
because I've managed to achieve these
three things because I put in all of
these ingredients right I actually work
hard had a discipline to follow through
then all of these things come along as
like a side effect of my hard work so I
want you to focus on building up your
trading skills by taking one good trade
at a time the fourth secret is
Progressive overload if you go to the
gym you probably heard of this term
called Progressive overload so the
definition of progressive overload is
when you slowly increase the weights
frequency or number of reps in your
workout so let me give you an example
you did eight bicep curse with a 10 kg
dumbbell this week you should aim to do
10 reps of bicep curse with the same 10
kg dumbbells so by increasing the amount
of repetitions that you do every single
week this challenges your body and then
allows your muscle to get bigger and
stronger so to grow your small account
fast us you need to apply the same
concept of progressive overload slowly
increase your lot size as you trade and
the keyword here is slowly most of you
want to rush the process and try to make
the most amount of money as soon as
possible oh I want to become a
millionaire next week in trading trust
me when I say that this mindset will
actually cause you to lose more and more
money so if you are trading a small
account you have to increase your lot
size little by liter why there are two
reasons number one if you increase your
lot size by a lot and you lose a trade
you will take a big hit to your trading
account and you will lose like a big
chunk of your trading account the second
reason is that it actually messes up
with your psychology and mindset let's
say that you are risking ten dollars per
trade so every single day you trade that
you take you are risking ten dollars and
then you start making some nice profits
right you actually start making some
nice profits making some money in your
trading account so you start increasing
your lot size and you start risking more
money so you start risking 20 dollars
per trade right and then you make some
more nice profits and then you start
risking thirty dollars per trade and
then you reach 50 per trade and then
eventually you reach 75 dollars per
trade this is a very good example of
increasing your lot size slowly and
steadily AKA Progressive overload
however let's look at another example
let's say that you have this friend
named John also starts by risking ten
dollars per trade right every single
trade that you take can reach ten
dollars on each trade and then once
again you start making some nice profits
but this time around the next trade that
you take kid risk 100 per trade so it
actually lose that 100 and I can take
another trade because like if you like
what I am very angry I want to Revenge
trade right I want to make back the
hundred dollars that I lose so I'm going
to take another trade and I'm gonna go
big so I take another trade and raise
another 100 and this time round I
reached another hundred dollars lost
that same trade so John just lost two
trades in a row two trades and every
time he lose he lose hundred dollars so
if you lose a total of two hundred
dollars and guess what John's trading
account only have two hundred dollars so
he end up blowing his entire trading
account let me tell you something this
literally messes up your psychology and
your mindset now John thinks that he is
the worst Trader in the world and he
quits trading
please guys increase your lot size
slowly and steadily do not rush the
process the fifth secret is to improve
every day make tomorrow better than
yesterday a lot of you broke this thing
that your life is fixed and that you
cannot do anything to change the
situation you are in bread I am broke so
I don't have enough money to trade I
can't trade and I can't do anything
about it can you borrow me some money
well have fun staying poor you always
have a choice go get a job at McDonald's
or something and improve or rather
increase your income so that you can
actually have some money to trade with
your circumstances do not define who you
are as a person the thing about life is
that there is always tomorrow so if you
made a mistake and lost money on a trade
yesterday or last week or last month
guess what nobody cares that's all in
the past you always have tomorrow so do
not beat yourself up just because you
make a stupid mistake that causes you to
lose money when trading just learn from
the mistake and move on and trade better
tomorrow remember life is like a video
game but one day you'll be game over and
the question is how did you play the
game did you win or did you lose Merry
Christmas everyone I want all of you to
stop looking at the charts and go out
there and spend some time with your
loved one and have a good holiday rest
take this time to go reward yourself so
they can come back and destroy the
charts with a clearer mind and also more
motivation to keep pushing and smash the
like button if you've enjoyed this video
and hit on that subscribe button and
also follow me on Instagram at Guang dot
e Junior dot y i I click on this video
to see a scalping strategy that will
allow you to grow your small Forex
account super duper fast and remember
you're just one trade away
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