The EASIEST Forex Trading Strategy For Beginners | HOW TO GROW $100 TO $50,000 IN 30 - 60 DAYS

The EASIEST Forex Trading Strategy For Beginners | HOW TO GROW $100 TO $50,000 IN 30 - 60 DAYS

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What's up youtube family it's your boy king  abe welcome back to my channel and in today's   video i'm going to be showing you guys an  easy trading strategy that you guys can use   even if you have a small account you can use  this trading strategy to grow your account   so without further ado let's take a look at  the charts and let's get this video started this strategy that i'm about to show you guys  in today's video this is the same strategy that   i've been using in all my live streams and i also  started a small account this week and i was able   to take that small account to almost 350 dollars  and i'm gonna put the screenshot right here on   the screen for you guys to see now i decided to  start a small account this week because i was   trying to make a video like this for you guys  so you guys can see that it's actually possible   to go to turn a small account into a big account  and that's actually my goal and that's the reason   why i started this small account and let you guys  know that it's possible to grow a small account   and turn into a big account using a easy trading  strategy like this now let's get into this video   now to when you're trying to grow a small account  i recommend trading on the lower time frame it   could be the five minute or the 15 minute time  frame but i prefer the 15 minute time frame so i   can get in and get out but what i also like to do  is to also always leave a runner my target is to   only get 20 pips once i get 20 pips then i move my  stop-loss to entry price and then i start trailing   my stop-loss from there until i'm completely  out of the market until the trade takes me out   of that particular trade but i make sure i'm  always trailing my stop-loss and i'm taking   partial profit as well as the trade keeps going  in my direction now when you're using a strategy   like this excuse me guys when you try to grow your  account i recommend looking for one to two pairs   and here you guys will see that we're looking  at EURJPY EURJPY is one of my favorite pairs   that i love to trade including GBPJPY but in this  video we're going to be taking a look at EURJPY   now to make it easier for you guys also in this  video i'm going to add one indicator just one   indicator but but first what we need to do is  to start on the higher time frame in this case   we're going to start with the four hour time frame  now what are we going to be doing on the four hour   time frame on the four hour time frame we'll be  looking for two zones which is our support and   our resistance that's the reason why we started  on the four hour time frame because starting on   the forward time frame is going to make sure we  actually know the direction of the overall trend   of the market now here on the four hour  time frame if we take a look at this bar   remember i said we only need two zones support and  resistance now over here we can see that here for   this buy previously we had a support here price  just kept on rejecting these zones multiple times   and we also have a resist a resistance right  over here we had this support here that became   resistance over here so now that you've had your  two zones right here on the forward time frame   now what you can do now is to go to the 15 and  i'm gonna you know try and make sure this video   is actually not too long now here on the 15 minute  time frame since we're looking to take a buy   position so we're gonna look for uh that zone real  quick now we have the zone right here now this   is the zone right over here now what we're simply  doing here on the 15 minute time frame is remember   in the beginning of the video i said we own  our main focus is to get at least 20 pips   then we move our stop-loss now looking here  now to get in a trade like this we need price   to break and close above our resistance zone and  like i said earlier to make is make it easier for   you guys i'm going to add an indicator for you  we're going to use the simple moving average   now to use this indicator you just go here  to indicators and you just search for simple   simple moving averages which is this one made  by stockinbox once you find it you add it onto   your chart then you go to settings you go here  to settings and the first sma number one you   change that to 200 everything else you don't need  anything else you only need the sma number one   and for the style you uncheck all the other smas  and you make sure you leave sma number one checked   once you're done you click ok and you exit now to  get into this trade we need price to be above the   200 sma once we have price above the 200 sma does  our first confirmation i don't use i don't use any   indicator with this strategy but i decided to  add this indicator for the beginners that will   be watching this video for more confirmations so  you'll be more confident to take a buy position or   a sell position in this case we need price to be  above the 200 sma once we have price above the 200   sma and we need price to be above our resistance  now once we have price close break and close above   our resistance zone now there are two ways you can  get into a trade you can either wait for price to   break and close and you wait to see a bullish  candle or you wait for a break and re-test once   you have that then you get in your buy position  in this case we're just going to go with the break   and close above resistance because we're scalping  we're only looking to get 20 pips now once we   have the break and close here now this bullish was  this when this bullish candle forms and i can also   see that this bullish candle actually has a wick  it opened with a week and now i'm going to have   guess what now i'm going to have my buy position  i'll have my buy position at this candle here   at the bearish candle there my stops will  be right below the previous load that price   created right there and my target is just  for 20 pips now i'll just target 20 pips   now once i have my 20 pips remember what i said  earlier i'm going to move my stop loss to entry   now guess what i've moved my stop-loss to entry  now but where is my final take profit where am   i trying to target here now to find out i  have to go back to the four hour time frame   so i have to go back to the four hour time frame  now once i'm here on the four hour time frame all   i have to do is to look for my resistance zone  and i can see that price created a higher here this is going to be a target  for me and this is going to be   another target for me as well so even though  price actually broke and closed above it   but this is my two targets here now i'm going  to go back to the 15 and let's actually see how many pips this was if we actually trade  like this if you're trading like this and you   guys will see what happened here so i'm just  going to look for that now we all remember   we already moved our stop loss to entry and  we took partial profit as well i recommend   taking at least 50 percent so for example let's  say you have a 100 a 100 account so if you have   excuse me guys my drawing might be bad here so  let's say you have a hundred dollar account so you   have a hundred dollar account right now risking  one percent i recommend only risking be sent if   you have a hundred dollar account or fifty dollars  basically hundred only one percent so you have a   hundred dollar account risking one percent meaning  you can spend a dollar your lot size can be   one dollar so now let's say you  spent one dollar on this buy position   now you got your 20 pips now that's 20 dollars  secured now you take partial profit partial   profit means you took 50 cents now you have  a trade running for 50 cents which is point zero point zero five excuse my drawing guys  now you have zero point zero five running   that is fifty cent per pip now you already  secure 20 pips now you have 0.05 running   now your 0.05 could go all the way up here  now just look at this now you just had   uh look at this now you just had 114 pips as your  take profit as your take profit now once my first   take profit get hit i'm going to look for a  low or previous high to see if price created   a previous higher or previous low in this case i  can see that now once my price once price gets to   my first take profit guess what now i'm going to  move my stop loss i'm going to move my stop loss   right over here because i can see that we kind  of have a low here now i'm going to move my stop   loss there guess what and once that happens i'm  going to take another partial profit in this case   i'm going to take i'm going to take i'm going to  take here i'm going to take i'm going to take 0.03 now i have 0.02 running now i only have 0.02  running now my 0.02 which is 20 cent per pip   will take me to my next take profit target  which is 187 pips just see that guys just see   just take a look at that you already secured your  profit so using a strategy like this is going to   enable you to be able to grow your account fast  instead of you just focusing on getting 20 pips   and then you out of the trade no use a strategy  like this trail your stop-loss and just ride the   trade till the wheels falls off you already used  your four-hour time frame you marked up your zones   you looked at the forward time frame you already  know the direction the market is is going now   you're going to use the 15 minute time frame  for your entry so guys this is how you use   a strategy like this to take a bar position  and like i said earlier i added the 200 sma   for those of you you know just to make you guys  more confident to get in a trade especially for   the beginners now we're going to look for a sell  position i'm going to remove all this drawing   then i'm going to you know hide this moving  average here now to look for a sell position   now what we need to do here we'll make this  candle small now what we're going to do here   to look for a sell position obviously we need to  identify our support and resistance and to look   at this cell here our zones that we're going to  focus on is over here to the left this is what   we're going to focus on here to the left  now what we're going to do is we can see   that previously if we look here to the  left we can see that we had a previous high we had a previous high here and you can see  that our resistance our resistance here we can   see that our resistance here became support over  here now that's how this is our resistance zone   we've identified our resistance what about our  support zone and now we can also see that we had   a support zone we had a support zone right here  we can see rejection here rejection over here   became resistance over here now we find we  found our two zones we found our support   and our resistance now we can go to the 15 minute  time frame here for to take our cell position   now if we look at this here now using the  trail stop-loss strategy is not going to work   every single time but is the best way to make  sure you have some profit to make sure you   secure some profit now we can see here that over  here now we're waiting for price to break below   our support zone if we go here we add the 200  sma and we can see that price is currently below   the 200 ema meaning we also need only need to be  looking to take sell positions now once you have   all the setups that you need we wait for price to  break below our support zone and what i like to do   after price breaks and close below my support or  above my support in this case we're looking for   a bearish candle after the break and close but  what i'm looking for is once price breaks below   my support the next bearish candle i'm looking  for i need to see a week at the top if i do not   see a week at the top i'm not getting in that sale  position i'm not that's just me that's what i do   and i recommend you guys actually do the same  thing now we can see that here there is no trade   for us right here there is no entry  right over here based on what i just   explained to you guys there is no entry at all  so now where would my entry be my entry would be now my entry will actually be right at this candle  i'll have my entry right at this candle because it   has a week it has a week at the top and price is  below my support zone and price is also below my   200 sma meaning i'm only looking to take cells now  my stops will be above my zone both of these pre   this high the price created over here and now  i'm looking to target 20 pips now i have my 20   pips here once i get my 20 pips what do you think  i'm gonna do i'm gonna move my stops to entry now   my stops is that entry now as price keeps going in  my direction now this trade this trade was all the   way here we can see their price actually go to 45  pips so for this trade you actually have 45 peeps   because when you move your stop loss to entry now  you as price keeps going your direction you need   to look for the most recent look like i said when  we took the buy position now we have this low here   now my new stop loss is going to be right  here at this new low here which is at 129.767.

now my new low is right here so in this  trade i probably only made about 30 pips   because price came back to my entry and  stopped me out you made 30 pips right here   so if you're trading with one dollars you made at  least you made at least $30 on this trade now i'm   going to show you guys one more example i'm going  to show you guys one more example now in this case   we didn't quite get what we're actually  looking for now we're going to go here now we're going to go to the next entry we're  going to go to the next entry right here which is   right over here now we have we wait for price to  break below our support zone once we have that   we also see that price is actually below the  200 sma now guess what now like i said every   year you can wait for the break and close and  then get in or you wait for a break and we test   but in this video we're just going to use  the break-in close strategy now we have   a cell here because we also have a week here we  have a sell right there stop loss right above   my previous zone right there  and my target is for 20 pips my target is for 20 pips now in this case do we  have 20 pips no we do not have 20 pips so we still   in the trade here right over here we're still in  the trade now price shot back up but it didn't   touch our stop-loss so we still in this trade as  you guys can see now once price get gives me my   20 pips i move my stop loss to entry now once i  move my stop loss to entry now we can go to the   four hour time frame to look for our potential  take profit target you would have done this as   well when we took the first uh cell position but  i decided to do it just right now just to show you   guys this strategy actually works most of the time  moving your stop-loss and training your stop-loss   just for you to get more peeps instead of getting  just 20 pips and then you know you just get out   the trade now we're going to look for a zone here  and we can see that we had a support zone here   we can target this support zone and we  can also target this resistance here   that price created so now we have two zones  that we can actually target now we go back   to the 15 minute time frame and we look for let's look for that uh zone real quick now now  this is the zone right over here now we have our   20 pips stop loss has been moved to entry now  our target we have our first take profit target   now you just made six you just made you just  have 61 pips here now you made you because   once you have your 20 pips you you took partial  profit now you're running with 50 cents per peep   now you just made 60 pips now once you have your  60 pips guess what now you can move your stop loss   to this previous low here now your stop loss is  actually now above your i mean below your entry   now you guaranteed some money even if  price pulls back and touches your new   stop-loss and guess what now you have your final  take profit here your final take profit is the   killer now your final table take profit here  is for 137 pips crazy this is exactly what i do   and this is how i've been growing this small  account this week and majority of the pairs that i   traded as you guys can see in this through in this  screenshot was actually EURJPY even though i love   trading GBPJPY as well i only traded it one time  and that was actually today during my live stream   and during my live stream today we was actually  able to catch about 90 pips during my live stream   today so guys if you guys also want to join my  live stream make sure you guys subscribe to my   channel and turn on the bell notification so you  guys don't miss any of my future videos i hope you   guys found value in this in that video so if you  find value in the video please make sure you give   this video a thumbs up smash the subscribe button  and turn on the bell notification so you guys   don't miss any of my future video thank you guys  for watching and i will see you guys at the top   because the bottom is way too crowded i'll  see you guys in my next video peace and love.

2022-03-07 09:38

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