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This indicator works exclusively for the Meta Trader 4 Platform Tradingview and now Ninja Trader 7 and Ninja Trader 8! You will not believe the results we have been getting!
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👉 https://jvz3.com/c/396655/317960
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LearningTranscript
00:00:37Okay, welcome everybody.
00:00:41My name is Hubert.
00:00:42Can I please get a confirmation that you can hear me and see the chart on the screen?
00:01:06I'm just waiting for some confirmations to come in before I continue.
00:01:12Good, there's the first one.
00:01:14Thanks.
00:01:15Great.
00:01:15Okay.
00:01:18So, yes, welcome everybody.
00:01:20My name is Hubert Miranda.
00:01:22I'm here on behalf of Trading Strategy Guides to introduce you to the Strike Trader Elite
00:01:32System.
00:01:33I will basically give you an introduction to how the system works and sort of give you
00:01:42my opinion and view on it.
00:01:45So, I've been asked to kind of review it and to tell you kind of the ins and outs of
00:01:51it.
00:01:51So, that's what I will be doing.
00:01:56If you've got any questions along the way, please type them into the chat.
00:02:02Hi, Dennis.
00:02:03Yes, this is live.
00:02:08Definitely live.
00:02:09So, you can ask me any questions you like.
00:02:12Um, and yeah, so we'll just take it one step at a time and feel free to interrupt me whenever
00:02:19uh, whenever you can't keep up with something or you've got some question and we take it
00:02:25from there.
00:02:37Okie dokie.
00:02:38So.
00:02:43Um, so basically the, the Strike Trader Elite System, as you see it here on the screen,
00:02:48let me just, sorry, I'll just switch you over quickly on my screen so you can see this better.
00:02:55Okie.
00:03:01So basically, um, the Strike System is what I would call a momentum-based strategy.
00:03:09Um, so what that means is that the, the key, um, principle that it relies on is, if I go
00:03:21back
00:03:22to my chart, basically, um, it's trying to catch the, the start of new momentum.
00:03:29Um, so when price starts to move in one direction, it's trying to catch a signal by, by, by measuring
00:03:40that through its, its propriety indicator down here.
00:03:43Um, and, um, it, we're trying to, to get into a trade once, um, some new momentum direction
00:03:52is established.
00:03:53Um, and, um, the aim is to essentially aim for quite short-term goals, um, short-term targets.
00:04:01So they're quick in and out trades.
00:04:03Um, and, um, that's the core of it and it's, it sounds simple and in many ways it is simple,
00:04:11but it doesn't mean it's a bad strategy.
00:04:14Um, it just, you've got to, um, be aware of certain elements of how to handle it in order
00:04:20to not burn yourself.
00:04:24Okay.
00:04:25Hi, uh, Damien, I've just really started right now, um, basically the system I showed the screen
00:04:35here.
00:04:36It's, um, a momentum based strategy, which is good for small timeframe trading.
00:04:43So it's good for, for five minutes, um, or lower.
00:04:48And the reason for that is because we're really just trying to catch, um, uh, kind of, uh,
00:04:56a push and impulsive move of price.
00:05:00And we're not necessarily going to wait for a price to move a huge amount in one direction.
00:05:06If it does, it's great.
00:05:07But, um, because it's really based on, on this one core principle and the, the kind of the
00:05:16statistics around it as to how many trades go right versus how many trades go wrong.
00:05:20Um, it, it lends itself for this shorter timeframe trading.
00:05:25Um, if you're going to deal, you, you, you can use it on bigger timeframes as well, but
00:05:31I would then personally, um, no doubt add extra refinement elements to it, which I will talk
00:05:37about later on and, um, but yeah, basically this is really the key of it.
00:05:51So it's, it's great for short term, um, trading simply because it's, we're just looking for
00:05:58a reaction, a reaction, reactionary move in the market rather than a clear technical reversal
00:06:06or anything like that.
00:06:08Um, Robert says there's no audio.
00:06:12Now I think everybody else, oh, hang on.
00:06:18People are saying that there's no, I see now two comments with no audio.
00:06:21So that is strange because it should, you should hear me quite loud and clear.
00:06:32Can I, can I get some more confirmation, please?
00:06:34Can you hear me now again, or can you still not hear me?
00:06:46Robert and Mahesh.
00:06:52Okay.
00:06:53Okay.
00:06:53Get an okay from arena.
00:06:56Dennis says it's good.
00:06:58All right.
00:06:59So guys, then, uh, the two of you who are not hearing me, you might just have to check your
00:07:07own audio settings because everything seems to be fine here.
00:07:14Okay.
00:07:15So just let me talk you through the basics of it.
00:07:17Um, the system basically predominantly consists of this indicator down here, which is the,
00:07:26the stride trader elite pulse indicator.
00:07:29And this is, will give us our momentum reading.
00:07:40So as you can see here, um, when price starts to, uh, create some upwards momentum, you start
00:07:49to get, uh, a reading above the zero line here.
00:07:53So here that the central dotted line is the, is the zero line of the momentum reading.
00:08:04And so once we get some momentum to the upside, you start to getting these green bars and they're
00:08:10building up and it basically with the reading that you see down there, it's, it's kind of
00:08:16a complex mathematical, um, structure that comes up with, with a reading, a visual reading that's
00:08:24gauging basically the power in the moves.
00:08:28Um, so, and as, as the move fades, like here, you start to see the move, the upper move is
00:08:36slowing
00:08:37a bit and eventually when they get too much, you start to see, um, a drop here as well.
00:08:43So the reading goes down and the bars go darker.
00:08:47And, uh, anybody who's familiar with, with other kind of, um, oscillator type indicators.
00:08:57That's right.
00:08:59Um, it looks pretty similar.
00:09:01Um, it, it, this, I think this indicator incorporates, um, a few different mathematical, uh, features
00:09:08to, to gauge momentum, but they are in principle similar.
00:09:13Um, but what this whole system indicator does is it, uh, gives you basically entries and stops
00:09:21and targets, um, so it, it tells you actually where to place pending orders, et cetera.
00:09:30And I'll talk you through that.
00:09:31So I just wanted to give you, just quickly talk you through the main indicator down here.
00:09:38So, so basically you've got these, these rises and falls, the momentum.
00:09:42And of course, if it, if the momentum turns completely the other way.
00:09:51So here, then of course it drops below the zero line and it turns red.
00:10:06Oh, hang on.
00:10:07I actually got to do that.
00:10:14Sorry.
00:10:14So if the, um, the video quality is very poor, um, this, the webinar will be recorded as well.
00:10:27And so it, if, if, if, if you find that the video quality is too, uh, too poor right now,
00:10:32um, we will upload it with a high quality, uh, recording.
00:10:39So, uh, my apologies if it is a bit blurry.
00:10:42Um, but there will be, you can go back to the video later on and it will be, and it
00:10:50will be clear by then.
00:10:54And that was actually a good point because now I started my recording.
00:10:59So, um, so this is basically the principle of this, um, indicator.
00:11:06And, um, if, if once we, if we go into the settings here, you, you get quite a lot of
00:11:16settings that you can adjust.
00:11:18But, um, for the outset, if you just want to start off, just keep it as the default settings.
00:11:24Um, because that gives you here a certain sensitivity in the, in this, um, momentum indicator.
00:11:32And then in terms of the, the system itself, how it gives you the signals, that's where these three settings
00:11:41here come in.
00:11:41So, where it says here, how many points for delayed entry is where the setting is of when, where you
00:11:50get a marker line of when to enter potentially a trade.
00:11:58And the initial stop loss value points is basically a marker line that, uh, tells you where to put your
00:12:04stop loss.
00:12:04And the initial take profit line is a setting of how many pips away the, um, the, the target will
00:12:14be set.
00:12:16And so as a default from the, um, creator of the system, it, it's kept at, uh, 120 points.
00:12:25So there would be 12 pips delayed entry, 150 points or 15 pips stop loss and 30 pips, uh, target
00:12:35target.
00:12:38So there's basically two ways that you can go about this strategy.
00:12:45And if I, I show you this here, either you, um, you rely on the statistics of it.
00:12:54And you really can say you can use the system, um, without having to think, without having to really analyze
00:13:02very much and just simply follow, uh, the, the, the signals that it, um, creates, which I'll talk you through.
00:13:09So I'll give you the details of that.
00:13:15Um, and that is fine.
00:13:17And obviously it's understandable if you don't want to just rely on somebody's statistical claim.
00:13:25Um, so you can, in a way, try out the signals on a demo account or on really small risk
00:13:32at first to see if, if you find that it works well enough for you.
00:13:37Um, that's one way.
00:13:39The other way is you can include some, uh, signal refinement or extra filters, which I'll teach
00:13:46you so that, um, you will apply some of your own, a little bit of your own analysis to it.
00:13:53So you can essentially choose the best signals and filter out, um, and not so great signals.
00:14:05Okay.
00:14:06So, um, so I wanted to show you here, for example, on the, um, pound us dollar.
00:14:20The way it happens here, I'm telling, I'm going to show you what these little lines mean.
00:14:25And it looks a bit complicated right now, but it's actually not that complicated.
00:14:29Basically, um, there's one indicator.
00:14:35So the one, the indicator that you see down here, that's the, um, the pulse indicator signals with that.
00:14:42So if I, if I go, if I zoom out here, you can see that you've got these lines happening
00:14:47here, which I'll clarify for you what they mean.
00:14:51And basically they will map out all the previous signals that appeared in, in, in previous price action based on
00:14:59the settings that you've, that you've set it.
00:15:02So that's a really handy feature because what you can do is you can choose a certain setting.
00:15:08You can choose the default setting or other settings and then see, okay, how many trades would have gone, right?
00:15:15How many would have gone wrong?
00:15:17And so to show you this with, um, the latest example here.
00:15:28So whenever you get a vertical line, like here, you get this red vertical line.
00:15:35This means that, um, the beginning of the signal has started.
00:15:44So from that point, the, um, the system recognizes that there might be a trade setup.
00:15:50So we haven't got one quite yet, but it's about to happen.
00:15:54And what it is, what it picks up on is that the minute the momentum goes, um, if I zoom
00:16:05in here, you can see that better.
00:16:06Once momentum starts to go in one direction and produces a, a reading beyond the 0.3 line on that
00:16:19momentum indicator, it will plot the line because it's a potential start of new momentum in one direction.
00:16:31And, um, sorry, I'm just seeing it, uh, question in the chat.
00:16:38Um, do you need to install the three indicators?
00:16:42Yes, preferably you install all of them.
00:16:46Um, what I'm talking about mainly now will be pulse and signal.
00:16:50Uh, the push indicator is, is a little bit more, um, gives you more information, but I will, um, I
00:17:00will briefly touch upon it, but not so much.
00:17:02So mainly the pulse and the signal indicator.
00:17:06Um, now Jay Z, sorry, I just saw your question.
00:17:09Now I am answering it.
00:17:10I am, I have been asked to review this, um, strategy.
00:17:15So I, I have not traded it myself for more than two weeks and I've just tested it myself.
00:17:23Um, but I have been asked to basically tell people the ins and outs, introduce people to it.
00:17:31And tell you the ups and downs.
00:17:34So if you don't like that, uh, I haven't traded myself, that's okay.
00:17:38But I'm telling you how it is and you can take it or leave it.
00:17:44So, um, back to where I was.
00:17:48So basically what we, we're getting the very beginning of new momentum here.
00:17:52And what then happens is that the system will plot a yellow line.
00:18:00And when, if it's a current signal, it will be a solid yellow line because it's currently an old signal.
00:18:08You will just get a, some dots here, yellow dots, but essentially based on the settings that this indicator is
00:18:17in.
00:18:19So we're saying from the, the beginning of the signal, when it picks up of the momentum indicator, 12 pips
00:18:28below that will be your entry signal.
00:18:32And basically what this system is trying to do here is, it's trying to, um, get confirmation that the momentum
00:18:41that is getting picked up here in the bottom indicator has really follow through.
00:18:47So that's why we're putting a delay in the entry in order to get some more confirmation that the momentum
00:19:04is really going in our direction.
00:19:07So what that yellow line then does, and I'll do that for you now so that you see how that
00:19:12would look in real, if it happens right now.
00:19:21So what do you get, you get a yellow line here, which then tells you to place a pending order
00:19:29at that level.
00:19:31So you would then, then simply, for example, if you use MetaTrader 4, you would simply right mouse click, click
00:19:39on trading.
00:19:41And, uh, you would click on, in this case, it would be a sell stop, right?
00:19:48Um, it doesn't give me that option because of course, prices broken lower already in this particular case.
00:19:55Whoops.
00:19:55Sorry about that.
00:19:59So in this case, price, the price, the price, the price, the price, the price, the price, the price, the
00:20:00price, the price.
00:20:00It's broken lower, but you would click here, basically, where the line is, trading.
00:20:06And then it would, could, we should sell here, sell, stop.
00:20:10Which basically means that, um, as soon as price hits that level, the order will get filled, and you're in
00:20:23the trade.
00:20:23It will also plot a red line, which you've got, um, red dots for, which would be 12 pips away
00:20:35from, from this line.
00:20:39I have 15 pips away from the line, from your entry.
00:20:44So that would show up as a red line, like so.
00:20:49And that's telling you where your stock would go.
00:20:53And it would then also plot a green line, where your first target would be.
00:21:06So basically, it gives you time to set your pending order.
00:21:11Once the order gets filled, um, the red, the yellow line switches to, uh, another color specified, obviously in your
00:21:20settings.
00:21:21Um, so originally it's white, which means essentially that now the trade would be active.
00:21:30Then price moves.
00:21:32And, um, once the, the target gets hit, it then also automatically, um, rec, moves the, the red recommended stop
00:21:43loss line to, say, break even.
00:21:45And when it hits the second target, it moves the line further to, in this case it was this point,
00:21:52I think.
00:21:55And so essentially the trade would go on until it either, uh, it, it, it, it, it will continue to
00:22:02set the next target.
00:22:03I think, um, the same amount of distance.
00:22:05So in this case it would be 30 pips.
00:22:07Um, or either it will stop you out with your trailing stop.
00:22:11And in this case it probably just about missed the, the second target and then one back up here.
00:22:20And it would have stopped out here and, and some profit based on your trailing stop.
00:22:27Now, so the reason why, uh, the system has a default setting of, um, like 15 pips stop loss and
00:22:3630 pips, um, target is because it,
00:22:41it's, it's trying to recommend a two to one reward to risk ratio.
00:22:46So you're trying to aim for, um, twice as big a target as your risk and hence that default.
00:22:54And it's true.
00:22:56Obviously if you use 50 pips stop loss and a hundred pip target, that would also be a two to
00:23:02one reward to risk ratio.
00:23:03Um, but because we're dealing with, um, small timeframes, um, it's better to stay with, with smaller targets.
00:23:12So this is the sense, really the core essence of it.
00:23:17And, um, I can just show you now a bit how that would have worked historically.
00:23:27So in a way it's showing you the history here.
00:23:30You can see we have, have first the yellow dotted line, the original stop loss here of the signal that
00:23:37started at this vertical line.
00:23:40Uh, then the order obviously got filled.
00:23:43We had the white line, uh, appear, then price moved down.
00:23:50Here was your original target.
00:23:52You see these two, uh, green dots just above, uh, the line here.
00:23:58Once that was hit, this, this stop loss was moved to here.
00:24:04Um, hence you've got the red dotted line here.
00:24:07It moved further down.
00:24:09Obviously if you, you could have exited manually once you had further target, because at this case, in this case,
00:24:16you would have been at a four to one reward to risk ratio.
00:24:18So that would have been quite a good time to pull out manually, potentially, especially if it comes so close
00:24:23to the target.
00:24:24Um, and then, yeah, it got stopped out and this is the end of the trade.
00:24:29Hence no more dotted lines from here.
00:24:33And so ever since then, we haven't had another signal.
00:24:37Why?
00:24:39Because you can see momentum here has built up and it's starting to fade.
00:24:45It's starting to become less.
00:24:48And until we get a reset as in price coming back here, at least to the zero line or even
00:24:55crossing over and then coming back down, we wouldn't get another sell signal.
00:25:00So you can see how it's really trying to catch that initial momentum first.
00:25:05Um, you can then here, for example, if we're now looking at the previous signal, which was a buy signal,
00:25:16which is why you've got a green vertical line.
00:25:23So you have the beginning of momentum here, which is why it's starting to trigger the mapping of the signal.
00:25:37And so your entry line would have been here at the yellow bar.
00:25:41And you can see how obviously price did not trigger for quite some time.
00:25:48Here at this point, it finally did trigger.
00:25:53And the stop loss would have been here.
00:25:5715 pips from here, from, from your entry.
00:26:00Okay.
00:26:01Just making sure that that is the case.
00:26:03Yeah, that's right.
00:26:0415 pips.
00:26:06And initial target was here.
00:26:10And you can see with this move, it actually hit the target.
00:26:16Then it would have recommended you to move your stop loss from down here up to here to lock in
00:26:22some profits.
00:26:24Um, price then went all the way up to here, but came back down and would have stopped you out
00:26:30here with probably a one, one to one reward.
00:26:34Or you, if you wanted, you could have exited somewhere closer to, um, up to the previous target.
00:26:40Now there are some instruction videos that come with, that tell you all of that, how the system works.
00:26:48Um, once you get the indicators, the several videos that explain all of that in quite nice detail.
00:26:54So what I want to focus on mainly today is to give you actually some additional tools, what you can
00:27:01use then,
00:27:02in addition to, um, in a way, refine the system and, and possibly even make it better than just, um,
00:27:09following the signals as and when they appear.
00:27:13So this, what I'm just telling you now, for example, is what I meant earlier.
00:27:18Um, here that, that basically it's, you just follow it based on the statistics that, and you rely on it,
00:27:28that it's going to create enough,
00:27:30more wins than, than losses and the, the other refinement options with what I will talk about now.
00:27:39So there's like six points that I've thought you could incorporate to, to make it possibly a stronger system yet.
00:27:52And, um, some of it is already mentioned also in the videos that come as a default with the system.
00:27:58But, um, uh, some of things I've also added myself.
00:28:02So let's start talking about those unless there are any questions right now.
00:28:06Is everything clear to everybody?
00:28:20Just waiting to see if there's any questions appear in the chat.
00:28:24But if not, I'll continue on straight away.
00:28:52Okay, so no questions.
00:28:53I'll, um, I'll just continue then.
00:28:57So, okay, my first tip, which is actually already shown here, is that I would only use this for short
00:29:08-term signals myself.
00:29:13Um, because if you, like, go to higher timeframes.
00:29:21What you start to happen is you, in order for price to create a signal, everything is obviously on a
00:29:29bigger scale.
00:29:29So your targets will be bigger, your stop-loss will be bigger, your delayed entry will be bigger.
00:29:40And it basically means that price, in order for the trade to go right, has to cross, cover more distance.
00:29:46And because it's a simple momentum-based strategy, you will, price obviously will inevitably have to cross into more, through
00:29:57more support and resistance areas.
00:29:59And that's where I think it actually works best to trade it on small timeframes, on a small scale, because
00:30:07then we're, in a way, have to rely less on price breaking through these support and resistance areas.
00:30:17Um, because if you're going to do, if you're going to do that and say, okay, I'm going to trade
00:30:22a bigger move, I'm going to look at a chart and say, I'm wanting to catch a bigger swing, then
00:30:30you definitely need to add, put more analysis in.
00:30:34And in a way, then it's might as well, you might as well trade a different system.
00:30:38But this is really for, for short term gains, that quick in and out trades.
00:30:42So hence, I would probably think stick to the five minute chart as your, um, as your, as your main
00:30:52trading timeframe with the, with the settings that are provided in the instruction videos.
00:30:57It's not just in this video, um, which I showed you here.
00:31:01So if you go to the properties again, those, um, those original settings here, 12 pips, 15 pips, 30 pips.
00:31:13So that's the first thing.
00:31:15Um, the, the next thing on my list is to include horizontal support and resistance levels and trend lines to
00:31:25filter out signals.
00:31:26Yeah.
00:31:27Um, David, that's right.
00:31:28SR means support and resistance levels.
00:31:32So what I mean by that is obviously if you just look at a five minute chart, uh, fairly close
00:31:41up and waiting for these signals, you're kind of blind to what's happening on a bigger scale.
00:31:46You don't know if there is a support or resistance in the way of anything or not.
00:31:52Um, so say for example, let's have a look at this, this trade here, this by trade and, um, I
00:32:06will make a marker line at this high.
00:32:11Just a white line.
00:32:15So the way you do that is you, in order to map out your support and resistance areas, you have
00:32:21to go to a bigger timeframe, quite a much bigger timeframe for our chart, daily chart.
00:32:26These are all important, um, much more significant, um, obviously dimensions of a chart.
00:32:34And you can see, you can, what you can do very simply is you, you take a line and you
00:32:42try to map price levels where there have been multiple reactions to it.
00:32:50So ideally you want to have precise hits where the candles make a precise hit exactly at a level on
00:33:00different occasions, but a bit of wiggle room, if the candle closes at that line and some other points create
00:33:08a precise hit, that's also fine.
00:33:10So in this case, for example, I can see we had, um, a hit of that price level right here.
00:33:17Then we had several more hits here.
00:33:21They were pretty precise.
00:33:23One pierced through, but that's okay.
00:33:25Um, we have another candle close.
00:33:29The wicks went through, but the candle close pretty much at this level.
00:33:33And we've got another level here.
00:33:35So to me, this is a significant support and resistance level.
00:33:38Based on the four hour chart.
00:33:41So I'll keep that simply on my chart.
00:33:45And, um, for future reference.
00:33:48Because if, if I'm wanting to buy and my target area would be kind of beyond that resistance line,
00:33:58then I would probably not take that signal that the strike system produces.
00:34:04Because I would be cautious that another bounce would appear at that level.
00:34:11Now, this is of course not the only level.
00:34:14So you can go and try and find some kind of previous support level as well.
00:34:23So here, for example, I'm looking at this hit here.
00:34:29I'm looking at these several four hour candles hitting this level here and bouncing.
00:34:35And in a way here as well again.
00:34:38So you can leave that line in, for example.
00:34:42And that's how you go along.
00:34:43You, the same thing for the daily chart.
00:34:47And you can see actually quite nicely how, how on the daily chart, this line that I had drawn the
00:34:59support line here,
00:35:00based on the four hour chart candles, is actually coinciding with the previous support as well here from December 2017.
00:35:08And of course, that makes the level even more significant.
00:35:13And the same here.
00:35:15So for example, a, a strong daily resistance level might be somewhere here.
00:35:23Or say, yeah, let's, I quite like this level because I've got a precise hit here, followed by many precise
00:35:31hits here again.
00:35:34So this is what I mean by horizontal, mapping out horizontal support and resistance and also trend lines.
00:35:43So if we go maybe back to our four hour chart.
00:35:50And you can just start to connect.
00:35:58It must be in black color.
00:36:00And make that maybe bright blue or something like that.
00:36:06So you can just start connecting the tops of candles with each other.
00:36:12And just drawing them, you can actually set that to array and parameters.
00:36:18This means that they will just go on for infinitely in the chart.
00:36:26And you can just set them and see if they eventually become relevant again.
00:36:32So obviously we've got numerous hits of that trend line here.
00:36:37Of course, it gets broken here, but it doesn't matter that becomes irrelevant.
00:36:40You can keep those in the chart as well.
00:36:44And obviously right now it's where price currently is, which is here.
00:36:50This trend line isn't of any relevance because price is far away from it.
00:36:57But I'm just giving you an example of how, how you can add trend lines as well.
00:37:03I mean if I follow this trend line perhaps, this might become relevant sooner.
00:37:16So for example, if I show you this here.
00:37:21If price continues to, price is here.
00:37:24And if it were to continue to fall and it would start to give me a sell signal close to
00:37:29this trend line.
00:37:31Then for example, I would be again more cautious to actually use that sell signal.
00:37:38Because even though it's not obviously not the most incredible trend line, I mean longest trend line ever.
00:37:46It's still a significant level with quite a few hits.
00:37:51And so I would, I would bear that in mind and see that as a potential support area.
00:38:00And because we're dealing with small, such small margins of only a 15 pip stop and a 30 pip target.
00:38:08That this would be something that I would be respecting.
00:38:16So, and of course then, so what, what will happen is that once you map those in a bigger timeframe.
00:38:22And these lines will just be on your chart.
00:38:27And so when a signal appears then, you will have that as a reference and say, okay, hang on.
00:38:33If the signal is within the area of these lines, then pause for a moment, zoom out, see, do you
00:38:43think there's really enough space?
00:38:45And, and then make your decision based on that.
00:38:50So that was our first tip.
00:38:51Then the next tip is, um, identify price direction with the stronger momentum on a higher timeframe and decide to
00:39:03only trade signals in that direction.
00:39:05So that's another sort of filter you can add.
00:39:08So by that, I mean, uh, you want to go say to the, the one hour chart perhaps, and you
00:39:20want to consider, okay, in the, over the recent period of time, where has been the stronger momentum?
00:39:32Has it, has the stronger momentum been to the upside or the downside?
00:39:37And well, obviously no doubt recently, the momentum is very strong to the downside.
00:39:47And if we compare that to the move, the upwards moves, there seems to be generally a stronger momentum to
00:39:55the downside.
00:39:57And how can you see that even, you don't even have to use, um, an indicator like this.
00:40:04Um, to, to, to gauge momentum, you can just look at the candles and that's sort of kind of what
00:40:09I'm drawing you to.
00:40:10Let me go to the four hour timeframe.
00:40:12That might become a bit better because we have more, more data in our way here.
00:40:18So what you see here that one hour, our red candles, our bearish candles, they have been the stronger ones.
00:40:30Generally, whenever there's been a bullish move with creating a bullish candles, they tend to be smaller, have more wicks.
00:40:42Obviously, here was the most extreme.
00:40:45Um, the momentum was obviously the strongest.
00:40:47And you can, of course, the, the momentum indicator is showing this here.
00:40:51But even so, the move, once we had a more significant low here, the move upwards was not showing a
00:41:00massive amount of momentum.
00:41:02So overall, you can just say, okay, the momentum is, the stronger momentum is still to the downside.
00:41:09Therefore, in this particular pair and the pound dollar, I'm going to align with that direction.
00:41:16And that's just, in a way, common sense.
00:41:18You know, you, you don't want to try and go against a dominant force.
00:41:24You want to try and align with the dominant force.
00:41:26So, and especially now that we've got some new candles with, with strong momentum like this, uh, it's probably wise
00:41:36to stay for the moment, um, more, mainly focused on cell signals as and when they appear.
00:41:45So that's something you can do.
00:41:47You can map that on higher timeframes as well, just by looking at the candles saying, okay, which direction is
00:41:53producing strong, big candles?
00:41:56And more of them and which direction is producing small, choppy candles?
00:42:01Like, like here, like the blue ones here.
00:42:07Okay, then the next point is session timing.
00:42:16So I'm saying here, use strike roughly from two hours before London open until the end of the New York
00:42:24session.
00:42:32So what I'm saying here, the reason I'm saying is best to use it during the London session or the
00:42:38New York session is because they are the main trading hours where you get the most liquidity, the most volume,
00:42:47the most price movement.
00:42:49And, um, if you trade during like times like now, for example, it's, it's the very, very start of the
00:42:57Asian session.
00:42:58So Tokyo isn't even open yet.
00:43:00It's just New Zealand and Australia.
00:43:03Um, the moves that you get during that time, they don't have any follow through.
00:43:09Uh, they, they generally just price, like you see here, um, we had, where was it?
00:43:19So the new day started here.
00:43:22I think London, uh, sorry, New York closed sometime here around this area.
00:43:30And what's most likely going to happen now during the Asian session or during the coming hours is you will
00:43:36get some movement, you'll probably get some correction, but price will be more choppy during this time.
00:43:43And, um, when Tokyo opens, you might get a move in a direction, but a lot more often than not,
00:43:54it doesn't have follow through.
00:43:56And because we're looking to trade on these small timeframes, looking to catch small momentum.
00:44:02Um, we ideally we want to see a bit more consistency than the Asian session usually provides.
00:44:10Uh, so that's why I recommend trading once London opens, um, or a couple of hours before, because you get
00:44:18already some interesting volatility and, um, or when, when New York opens.
00:44:26So that's why I've written this here on, on a time, uh, on the sheet.
00:44:32Now I said roughly two hours before London open.
00:44:36Uh, because like I said volatility picks up already then.
00:44:41And, um, um, you often get like moves like with the start, the exact start of the sessions, there are
00:44:50important transitions.
00:44:52And in a way, if you are in a trade two hours before London open, that's fine.
00:44:59But in a way, ideally I would want to be almost already at least a break even by the time
00:45:07it comes to London open itself.
00:45:09Because you can get like an initial, like a jerking movement when, when the new traders get going.
00:45:18And, and there can be initially some, some, some change in the dynamic.
00:45:22And the same, of course, when New York opens.
00:45:24So London is already open.
00:45:27Then at some point New York kicks in and you tend to get a, a change of dynamic then often.
00:45:36So if you've got, for example, an open trade that started during the London session, then I would try and
00:45:42wrap it up or at least put it to break even when it comes to the New York open session.
00:45:49And then start a new trade if you want, based on a new signal once New York is open.
00:45:55I hope that's, that's pretty much clear.
00:45:58I can give you also a tip here for, um, a link.
00:46:05And so this link here, www.worldtimezone.com forward slash markets 24.php.
00:46:18Uh, it's a very handy little site because it basically shows you the time of each of the markets.
00:46:27So LSE is the London stock exchange.
00:46:30NYSE New York stock exchange.
00:46:33TSE is Tokyo stock exchange.
00:46:36You've got a list of, of them here.
00:46:40They tell you the trading hours when they open.
00:46:44And, and these labels, uh, once you refresh the page.
00:46:49So if I now refresh the page, you can see at the moment it says New Zealand stock exchange is
00:46:56open.
00:46:57Everything else is closed.
00:46:59And that will sort of, you know, change throughout the day.
00:47:03So this is if you, if you trying to keep a track of the session times, this is a really
00:47:08handy website.
00:47:11Uh, hi red night.
00:47:13Um, you've missed, uh, quite a bit, unfortunately, but this will be recorded.
00:47:20And, um, therefore you can listen to it all, uh, afterwards again.
00:47:27Um, but you just have to jump in and kind of flow with where we are right now.
00:47:34Okay.
00:47:38Tip number four for refinement.
00:47:40Focus on pairs you personally like and pairs that move fast.
00:47:45So, I don't know about you, but I found that there seem to be certain pair, uh, currency pairs or,
00:47:53or other instruments.
00:47:58That, that, um, that just work well for you.
00:48:03So you might find, I don't know, the Euro dollar works really well for you.
00:48:08But maybe the, the U.S. Yen, you often have, um, not so good results with.
00:48:15Or maybe you find that some kind of cross.
00:48:17Maybe the, the Euro New Zealand dollar or something that you always tend to get good results with that.
00:48:22But if that's something the case that you've noticed in your own trading, then, then use it on the, on
00:48:29those pairs.
00:48:31Because I'm not sure exactly why, why that is.
00:48:33Maybe that the way a certain pair behaves suits a certain person's psychology more.
00:48:40And therefore they get better results.
00:48:42If that's the case, just stick to those pairs.
00:48:44You don't have to trade hundreds of different pairs with that strategy.
00:48:49Um, and, and the other recommendation is that you, uh, also choose pairs that, that move a good amount of
00:48:58pips.
00:48:59So some pairs, like for example, the New Zealand dollar against the U.S. dollar is pretty slow moving.
00:49:06Like it's, um, it doesn't move as many pips.
00:49:10Or the, the Euro, um, pound exchange rate is also one that does, moves pretty slow.
00:49:17Whereas, um, generally all the Euro pairs move pretty fast.
00:49:23And all the pound pairs move pretty fast.
00:49:25Just not the Euro pound.
00:49:27But, uh, so for example, the, if I go back to my charts here briefly.
00:49:32The Euro New Zealand dollar for example, generally moves pretty fast.
00:49:37You get a lot of pip movement.
00:49:38So that's why it's good for, for the system.
00:49:43Um, or the pound Australian dollar, these crosses, they will move well.
00:49:48But of course the majors, the two majors, um, move really well too.
00:49:52The pound USD and the Euro USD.
00:49:55So that's an extra little tip.
00:50:00And then, okay, uh, avoid small timeframe setups during important news events.
00:50:07So it's good that you, to keep a track on really important news.
00:50:15So go to one of the, you know, the Forex websites, like maybe forexfactory or, or investing.com.
00:50:25And, and go to your economic calendar.
00:50:28And just keep an eye on if there's any significant events scheduled for the day.
00:50:35Obviously, like for example, yesterday we had the, the, the ECB.
00:50:39The European Central Bank, um, interest rate decision.
00:50:43And no doubt we had quite some volatility.
00:50:48And then obviously just a big break, breakdown.
00:50:51Um, I would personally avoid trading around these times.
00:50:55Because you get obviously whipsaw and you can get stopped out.
00:50:58Because we're dealing with these small timeframes with small stops and targets.
00:51:02Um, so yeah, avoid around it.
00:51:05You can trade after or maybe, I don't know, up to an hour or so before the event.
00:51:12But, um, I would definitely, I would stay away from the immediate time around the event.
00:51:21And then, here I just made a point saying, use the strike signals indicator to back test different settings until
00:51:29you feel comfortable yourself.
00:51:30So what I mean by that is, um, like I said, you can, once you get the strike trader elite
00:51:39signals indicator, which I've got already on my chart, which is showing me these previous signals.
00:51:50And so here it's, that's what the, that signals indicator does.
00:51:55Um, if I go to the settings now.
00:52:05So obviously the settings right now are such that you get a signal once the reading of the pulse indicator
00:52:15goes beyond 0.3 from the zero line.
00:52:18And then the signals are based on these 12 pips, 15 pips, stop loss, um, 30 pips target.
00:52:27Check, go, do the back testing, go back and see, okay, how many trades have gone right?
00:52:32How many trades have gone wrong?
00:52:34If you are already working with indicators or like momentum indicators and so on, you can just play around with
00:52:43the target and stops.
00:52:45And, um, um, and see if, if anything works better, right?
00:52:50So if you, if you say, okay, I want to see if I delay my entry by 20 pips and
00:52:59make a stop loss value of 25.
00:53:02Oops.
00:53:03I have to do, of course, points.
00:53:06So make that 200, 250.
00:53:09And then the profit take profit say would be 50 pips.
00:53:15And you do that.
00:53:17Then of course you're going to get different signals.
00:53:20Um, because your, your entry is delayed and obviously your stops and targets are different.
00:53:26And you just see, okay, do I get better results with that or not?
00:53:32Um, I think there will be more support videos being produced as time goes by.
00:53:37And of course there's also the, the, the, the strike trade elite forum where ideas can be exchanged.
00:53:43So that's a good place to, to try these things out.
00:53:48Um, but just to start out with, I would leave it at the initial recommended default, um, which I have
00:54:04set here.
00:54:08And then, and then just take it from there.
00:54:18Now, see, I wanted to show you an example of how this also, how you can use support and resistance
00:54:24levels and trend lines in your, in your trades.
00:54:30So in this Euro dollar trade here, for example, here, we've registered a buy possibility from this point onwards.
00:54:41And, um, and so it was recommending, okay, you entered a trade here.
00:54:47If you want to improve your signals, obviously I've talked about drawing these lines in this situation.
00:54:53What I thought was quite nice.
00:54:55Um, as an example was we have this, sorry, I should go back to the higher timeframes to show you
00:55:03what I'm in.
00:55:05I drew this, this line, this resistance trend line based on these touches here, these bounces.
00:55:12So price went down, tested again, down, tested again, down here.
00:55:17We started to get a breakthrough and a retest of that line and price started to establish itself above that
00:55:25line.
00:55:26Now, once you get that happen, and of course on the smaller timeframe, this is what it looked like on
00:55:33the smaller timeframe.
00:55:36Oh, sorry guys.
00:55:43So on the smaller timeframe, here you've got the white line, you can see the break, the retest.
00:55:51So in a way I quite liked that signal because it, um, it happened to coincide with this break of
00:56:00the support, uh, this resistance trend line.
00:56:02And because price was now, um, trading above it, I was thinking, yeah, I'm quite happy to take that signal
00:56:12because there is room to the upside because this resistance trend line has been broken.
00:56:19And so I was really happy with that signal and it would have been actually a good trade.
00:56:24Um, so it would have triggered here.
00:56:27Your stop loss was here and it went up and pretty much see, of course you want to be also,
00:56:39um, present for the, for the trade, you know, right?
00:56:44So if the price goes up, then you start to get, um, some downward movements coming in.
00:56:51And of course we've got this big news event.
00:56:53So in a way that would have probably meant best not to take it because we're getting too close to
00:56:59the news.
00:56:59But if this wasn't the case, if you just look at it like so, um, once you start to get
00:57:05quite big momentum to the downside again, and it hasn't quite reached the target.
00:57:10Um, I would definitely move my, my stop loss manually to break even, even though the system probably won't have
00:57:18told you that yet because it hasn't quite reached the first target.
00:57:22And that's also doing a bit of manual trade management is also shown in the instruction videos videos that come
00:57:29with the indicator.
00:57:34So, yeah, there's, I just wanted to show you how this kind of works with the, um, support and resistance
00:57:40trend lines that you can map in.
00:57:45Okay.
00:57:46I think that was probably my last tip for the time being.
00:57:51Um, have you got any questions right now?
00:57:56Could anybody, everybody follow me?
00:58:08I'm just waiting to see if there's any, uh, comments or questions arising in the chat.
00:58:15Okay.
00:58:17Okay.
00:58:20Okay.
00:58:25Okay.
00:58:25Okay.
00:58:26Okay.
00:58:26Okay.
00:58:27Okay.
00:58:28Okay.
00:58:49I see this was actually quite a good, um, this was probably quite an excellent trade in some ways.
00:58:55Like it kept on, uh, coming down and down so far, of course.
00:59:01And, uh, you've hit like lots and lots of targets here.
00:59:08Uh, David, yes, that's correct.
00:59:10I think it's probably best for fast moving pairs.
00:59:13Um, so that you can get these 30 pip movements, you know, um, fairly often rather than it wobbly.
00:59:25Around like in the middle of nowhere.
00:59:28Um, also an important thing is add your spread, um, to the, to your stop loss settings.
00:59:36So if the default is 12, um, sorry, if the default is 15 pips for your stop loss, then you
00:59:44want
00:59:44to add whatever your broker's spread is to that so that you don't get stopped out too early.
00:59:51Um, so like say if you have a 2 pip spread or something on an instrument, then you want
00:59:58to make your, and you want a 15 pip stop loss, then you really have to set your stop loss
01:00:04to
01:00:04at least 17 pips.
01:00:20Also, um, another thing you might bear in mind is like say if the setting, say for example, in this
01:00:27case, um, you get this move.
01:00:32You, you get a, get a strong move.
01:00:34So after the news and then you, you get the signal, but you can see this, it seems possibly
01:00:42a bit tight here.
01:00:43You can gauge if, is this some previous, again, a level just on a small timeframe.
01:00:51It doesn't have to, you don't have to go far back, but you can, so for example, gauge here.
01:00:56Okay.
01:00:57Where was there some previous resistance that could act as a good stop loss setting?
01:01:01You can see like here we've, we had quite a bit of resistance.
01:01:06So in some ways you could say, well, okay, I know the system's telling me put my stop loss
01:01:10here, but this level slightly higher is actually more a significant resistance.
01:01:18And maybe it's better to put my stop loss here.
01:01:20If there's enough room for my target and I still get a better than a one to one reward
01:01:25to risk ratio, like at least say a 1.5 to one, uh, then that's still good.
01:01:30So you can, you know, make those little tweaks.
01:01:33So apply a bit of your own analysis and intelligence to it.
01:01:36And I think you will get better results that way, even more.
01:01:42Okay.
01:01:42Well, unless there's any other questions, I think, um, I shall wrap it up for today.
01:01:48I hope you enjoyed that.
01:01:49I will still be briefly around, um, if there are any final questions, but other than that,
01:01:55I wish you good trading.
01:01:57And I will, I think, make sure that you get this, this little sheet that I've showed you
01:02:03here and this might with my notes as well.
01:02:07And, um, wish you all the best.