Day-Trading-Addict
In the video, the speaker reveals his trading strategy for 2023, focusing on the five-minute chart for the market direction and considering support, resistance, supply, and demand levels. The trader advises skipping a day if it is not clear and recommends analyzing those missed days to develop pattern recognition and improve skills. The video also features a breakdown of the trader's live trades throughout the week, explaining his approach in each scenario. Additionally, the trader shares two recent trades that exemplify how to enter the market either during an uptrend or off a support bounce, emphasizing the importance of understanding market direction and structure to avoid getting trapped. The video description provides a program for those interested in learning his trading strategy.
In this section, the speaker explains their trading strategy for 2023, stating that they focus heavily on the five minute chart for the direction of the market and walking down their support, resistance, supply, and demand levels. They reason that since they only trade one market, it is difficult to have all of their charts align every day. They also advise traders to skip a day if it is unclear and to go back and study that day to recognize patterns and build skills if they miss a trade.
In this section, the trader shows some of his live trades from the week and explains his thought process and strategy. On Monday, he saw resistance in the market and got in when it started to sell off, looking for pre-market lows as his target. He waited for the market to hit his profit target and was able to take his profits, ending up $7,456 for the day. On Tuesday, he recognized a downtrend and got in the market when he saw a nice bearish bar, adding to the move as it looked weak. He exited when it hit his profit target, making $4,043 for the day. On Wednesday, he missed the open but got in when the market pulled back, looking for a quick one-to-one scalp. He was able to exit with a quick profit of $2,056 for the day. On Thursday, he recognized a bullish trend despite others seeing a double top and looked for longs, anticipating a trap for short sellers in the market.
In this section, the trader shares two of his recent trades and explains the strategy behind them. The first trade was a breakout trade where the market was in an uptrend and the trader was looking for longs. He noticed a double top and decided to wait for a breakout before entering the market. He put in a buy stop and eventually got into the market when it broke out to the upside. He exited the trade when it hit his target profit and made a quick one-to-one profit. The second trade was done on the next day and involved going long when the market bounced off support. The trader emphasizes the importance of understanding market direction and studying market structure to avoid getting trapped. He also offers a program in the video description for those who want to learn how to trade like him.
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