This Gold Scalping Strategy Still Makes $100s in Seconds!

Summary

In this video, the trader demonstrates a scalping strategy on gold, focusing on 1 to 5 minute time frames to profit quickly. They analyze various chart patterns such as rectangle, double top, and bearish engulfing, and confidently execute trades with a negative risk-reward ratio, anticipating price retests of support levels. Despite initial losses, they maintain their strategy, adjusting stop losses and taking profits as the market moves, ultimately resulting in profitable trades. The video concludes with a promotion for the trader's VAP signals and price action trading guide.

Takeaways

• 💼 The speaker is demonstrating a live trading session on gold, aiming to prove the profitability of scalping strategies on short time frames.
• ⏱ The trading focuses on 1 to 5 minute time frames, with the speaker asserting that this approach can yield quick profits.
• 📉 The speaker identifies a downtrend on the 15-minute time frame and uses this to inform their trading decisions.
• 📈 The speaker marks previous support levels on the 5-minute chart and identifies a rectangle pattern on the 1-minute chart to base their trade on.
• 💹 The speaker opens a trade with a size of five lots, indicating a significant position on their account, which contains $18,000.
• 📊 The speaker sets stop loss and take profit levels with a negative risk-reward ratio, anticipating a retest of a previous support level.
• 📈 The speaker discusses various chart patterns, including a double top, rectangle, and triangle, as bearish confirmations for their sell orders.
• 📉 The speaker anticipates a bounce off the 50 moving average and considers entering another trade if the price respects this level.
• 🔄 The speaker modifies their stop loss for an open trade, aiming to adjust their risk management based on the ongoing market movement.
• 💰 The speaker concludes the session with a profit, highlighting the effectiveness of their scalping strategy and promoting their trading signals and guides.

Q & A

What is the main topic of the video script?

The main topic of the video script is demonstrating a live trading session on gold, using scalping strategies on short time frames like 1 to 5 minutes to make quick profits.

What is the speaker's stance on the effectiveness of the trading strategy discussed?

The speaker is confident about the effectiveness of the trading strategy and aims to prove the skeptics wrong by showcasing a live trading session.

What time frames are being analyzed in the trading strategy?

The trading strategy involves analyzing the 15-minute, 5-minute, and 1-minute time frames to identify trading opportunities.

What chart patterns are mentioned in the script that support the bearish outlook?

The chart patterns mentioned include a rectangle pattern, double top, triangle pattern, and bearish engulfing candlestick.

What is the speaker's trading size for the gold position?

The speaker's trading size for the gold position is 5 lots.

What is the speaker's approach to risk management in this trading session?

The speaker sets stop loss and take profit levels, and is willing to adjust the stop loss if the price moves in their favor, aiming for a negative risk-reward ratio.

Why does the speaker mention the moving averages in the trading strategy?

The speaker refers to moving averages as indicators of potential support and resistance levels, which can influence the direction of the price movement.

What is the speaker's opinion on the importance of chart patterns in trading?

The speaker believes that chart patterns are crucial for confirming trade entries and exits, as they provide visual cues for potential market movements.

What is the speaker's strategy for entering additional trades?

The speaker plans to enter additional trades if the price retests certain support or resistance levels, indicating a potential continuation of the trend.

What is the speaker's final outcome in terms of profit from the gold trades discussed in the script?

The speaker ends up with a total profit of $569 from the gold trades using the scalping strategy discussed.

What additional resources does the speaker offer for those interested in learning more about the trading strategy?

The speaker offers a link to their VAP signals and a price action trading guide for those who want to learn more about the trading strategy.