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The Ultimate Swing Trading Guide For Beginners (ALL YOU NEED TO KNOW) - AI Summary, Mind Map & Transcript | The Trading Channel (The Trading Channel) | YouTubeToText
YouTube Transcript: The Ultimate Swing Trading Guide For Beginners (ALL YOU NEED TO KNOW)
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This content introduces swing trading, defines its characteristics, and provides a specific strategy for identifying high-probability trades. It emphasizes that a successful trading career requires more than just a strategy, outlining a comprehensive checklist for achieving consistent profitability.
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today i will be taking you through the
world of swing trading
we will start out with the most simple
question you can ask which is
what is swing trading but by the end of
the video
you will know how to easily identify extremely
extremely
high probability and accurate swing
trades and you'll know how to implement
those trades
better than 95 of traders if that sounds
good i just need you to do two things
for me
one go ahead and smash that like button
two go ahead and hit subscribe if you're new
new
if you're already a subscriber welcome
back let's go ahead and dive into
today's video [Music]
[Music]
so first off let's go through what swing
trading is
swing trading is a style of trading that
consists of holding a trade
longer than day trading but not as long
as long term
investing a typical swing trader will
hold a trade
for somewhere between two days and two weeks
weeks
swing traders primarily use technical
analysis but sometimes
add fundamental analysis to that to make
high probability and
accurate trading decisions and this is
something we'll be talking about how to do
do
a little later on but first let's go
through what you need to know before you start
start
making high probability and accurate decisions
decisions
as a swing trader the first thing you
need to know is that you're not going to
go out here and start swing trading
with your life savings right after
watching this video and you're probably thinking
thinking
well then why am i watching it steven
you are watching it because like any
other career
in the world your first step is not to
go start performing
surgery on an individual that needs it
your first step is not to argue a case
in front of a judge
your first step if you work for elon
musk at spacex is not going to be
to start building a rocket ship your
first step
is to learn so this video is meant to
show you everything you need to know
about swing trading but your job
is to go back test what you learn and
practice it until you are completely comfortable
comfortable
and consistent with the concepts and
strategies that we're going to be discussing
discussing
throughout this video and i'll be
explaining a lot more about practicing
and back testing once we go over the
rules of the strategy here in just a second
second
personally i am a swing trader in the
forex market
but everything discussed in this video
will apply to any market
in the world including crypto stock
market futures
whatever you trade the concepts and
strategies are going to apply
so let's go ahead and talk about some of
the ways you can spot these high likelihood
likelihood
high probability trades while swing
trading here what you see
is called a candlestick chart if you're
so new that you don't know what a
candlestick chart is
there'll be a video that i did a while
back in the top right hand corner of the
screen that will tell you
everything you need to know about these
types of charts
we use these as an indication of price direction
direction
to make accurate swing trading decision
decisions but we don't just use
candlestick charts we combine this
with other forms of technical analysis
to help us make these high probability decisions
decisions
things like moving averages and
indicators things like structure support
and resistance candlestick patterns
price action patterns the list goes on
and on
but we find a combination of all these
things that we can set rules around
called a strategy
and then we see if that strategy makes
money by back testing and practicing
with it
and at the point that we're comfortable
going live we then have a much better chance
chance
of creating a profitable swing trading
career so now that you know that let's
dive into the strategy today we're going
to be focusing
on using a moving average which is going
to be the 50 period moving average it's
the blue line you see on the screen in
front of you
also we are going to be using structure
and a candlestick pattern
in order to create this high probability
setup that we're going to look for to make
make
our accurate swing trading decisions
so let's go ahead and start diving into
the rules of this strategy we'll check
out a couple of trades that i took
actually using this strategy last week
and then we will go through plenty of examples
examples
to make sure you have a complete grasp
of the strategy and you can take it
back test it practice it and decide if
it's something you would like to use in
your swing
trading arsenal so let's dive into that
right now
so one of my favorite ways to swing
trade is by trading with the trend and
what i'm trying to do while trading with
the trend
and swing trading is i'm trying to capture
capture
pullbacks before the next impulsive move up
up
this is what we call a trending market
every trending market is going to have
these pullbacks and what i'm trying to capture
capture
with the strategy we're going to discuss
today is the bottom
of these pullbacks before the next big
move up and then the bottom of the pullback
pullback
before the next big move up and then the
bottom of the pullback so on and so forth
forth
that's what i'm trying to capture so
what do i need if that's what i want to capture
capture
in terms of rules well i need a rule for trend
trend
first right i need to make sure that i'm
following the trend of the market and
what we're going to do for that
is use this exponential moving average
so you type in ema here on my
indicators it will be the first one that
pops up my exponential moving average is
going to be set to a
50 length or 50 period it's going to be
the same as chart
i'm going to make it a little bit larger
just so it's easier to see
and now i have a defined rule for my
strategy in terms of the trend of the market
market
i need the market to be above the 50
period moving average
and if i'm trying to capture pullbacks
then i probably need a rule for
pullbacks too
if you can't see where i'm going yet and
you're a complete beginner when we're
building a strategy
the easiest route we're going to have to
actually successfully trading that strategy
strategy
is by creating rules that we can follow
every time we place a trade that's how
you stay consistent
to your trading plan into your strategy
is by having set in stone rules for
every part of that strategy so again we
have a rule for trend
i want to see the market above the 50
period moving average
we now need a rule for pullbacks because
we're trying to catch the
end of pullbacks so for me a pullback
is anything more than two red candles
after a new swing high so
let's zoom in here just in case you're
brand new i want to make sure that
nobody gets left behind here
so right here we have a new swing high right
right
is there more than two candles yes so
this would be considered a pullback
now we have a new swing high but is this
considered a pullback
no and the reason is because there's not
two red candles but
only one so therefore it's just like a
little pulse kind of like this situation
right here
with this little red candle that's not a
pullback so my next new swing high
is right here is this a pullback yes it is
is
so now i have a roll for a pullback and
in terms of
catching the end of the pullback what
we're gonna use
is a candlestick pattern so right now
i'm gonna go up to a whiteboard
and just go over a really brief example
of the entire strategy with you
and then we're going to check out a few
examples on real charts
to make sure you're comprehending every
part of this strategy so you can decide
whether or not it's something
you want to put into your swing trading arsenal
arsenal
so for this strategy let's color the
50 period moving average blue so right
here let me grab blue
let's assume this is the 50
ema we have on our chart okay there's
the 50 ema i'm going to use black for price
price
so this is what price is doing now that
we're above the 50 ema
we've made what if this was our previous
high we've made
a new swing high since we've made a new
swing high what's next
we want to see a pullback at least two
red candles
after we see a pullback the way i'm
going to
capture the end of this pullback is by
waiting for the market to have a bounce up
up
create a swing low then
retest that swing low all
while staying above every bit of this
must happen
above the 50 period moving average so if
price is staying above
the 50 period moving average we get a
new swing high
we push down and get a swing low then we
get a re-test of that swing low
then i'm primed to catch the bottom of
this pullback
before the push higher and the
candlestick pattern i'm going to use
in order to enter a trade in this
instance is just what i call
a color change so if we have a retest of
this area
then the color that retests it will
likely be red
all i'm looking for after that is a
green candle
so we have this retest of our previous
swing low
and then we get a green candle that is
the entry the stop loss is below the
swing lows
and what we're trying to capture is that
next impulsive move up so let's do this
one more time here then we'll dive down
into some charts if you don't understand
it yet
don't worry we're going to go down to
the real charts and discuss
this strategy in a lot more detail in
just a second
so we have our new swing high what's
next we want to see a pullback
after we get that pullback we want to
see a bounce that bounce is our swing
low after that bounce we want a retest
of that swing low and a green candle
that green candle the close of that candle
candle
is the entry stop loss below the swing
low again trying to capture
that next impulsive move up as the
market is
trending to the upside the opposite is
true to the downside which we are going to
to
look at examples of on charts so i'm not
going to do that on the whiteboard that
was just a quick
overview let's actually go down some
charts now though
and take a look at some real examples of
this swing trading
strategy for our first example we're
looking at the aussie yen and i want you
to tell me
or leave a comment what am i looking for
right now
what do we have what is price done well
according to our strategy we need price
to be above the 50.
is that rule met yes we need a swing high
high
and we define that swing high as a high
that then has two
red candles those two red candles are
the pullback
so now we have a new swing high and a pullback
pullback
all above our 50 period moving average
what's the next thing we look for
a swing low how do we find that a bounce
out of price after we get that swing low
which is by the way
right here this is our swing low we want
the market to come down
test that area and then give a green
candle and we want to try to capture
the bottom of this pullback for the next
move higher
so the way we do that and we need rules
for this as well right
so the way i do that is by putting a box
between the body of my swingload candle
and the wick of my swing low candle and
this is where i need price to test
it can test this area with a wick it can
close in this area
a wick can go past this area what i do
not want to see
is a candle that closes below this area
at that point
i have to start looking for new trades
either a new swing high
and pullback or a new uh swing low that
i can look for a re-test of
so with this being the case what am i
waiting for right now
as price is right here what am i waiting for
for
i'm waiting for a test of this zone
with price is this a test of this zone
remember what i said
price can come into this zone a candle
can close in my zone
i just don't want a candle to close
below it so yes we now have a valid
test of our zone of structure after we
have that test
what's the the entry itself the entry
itself is a
green candle so at this point this is a
good example of this trade
on a real chart we're looking at the
market above the 50
creating a new swing high rules for a
pullback are met
and our zone here is that first swing low
low
between the body of the swing low candle
and the low of the swing low candle
is where we want the market to test and then
then
after that test we are entering on a
green candle
showing us buying pressure and showing
us that this market could
could be continuing in trend and
breaking into new
highs that is the rules for this
strategy we're gonna take a look at about
about
two other examples and i'm going to show
you a bearish version
go through some of the nuances of the strategy
strategy
for instance one of them is that we
can't see something like this i don't
want to see a new high
and then a retest of this support level
after we've already created a new high
all of this needs to happen below
the previous high and above the 50
period moving average
essentially what we're trading is double
bottoms while in trend
above the 50 period moving average so
with that being the case
let's just continue here on the aussie
yen see what would have happened with
that trade by the way that trade
we would have entered at the top of this
market i use a 1 atr stop loss
below the lowest low of either the first low
low
the first swing low or the second one
with that being the case
atr at the entry candle is 20 pips so we
have 31 down
to that 20 plus 32 is 52
and i normally shoot for about a 1.4 to
one reward to risk
that trade would have been a winner next up
up
let's take a look and see what we're
looking for what do we have
we have a new swing high right after we
get a new swing high we want to see a
pullback which is at least
two candles we get that after we get at
least two candles we're waiting on the
market to
come back down and do what what am i
waiting on at this moment
right here i'm waiting for price to
retest what
this very first swing low
so i'm going to put my what i call
termination zone on the screen which my
termination zone
is between the swing low
of this swing low the actual low itself
and the body of the swing low candle
at that point what am i waiting on the
market to test this zone
what is considered a test of the zone a
wick can get into the zone a wick can go
past the zone
the body of a candle can be in the zone
the only thing that cannot happen
is i cannot see a body close below this
zone so as long as that is the case
all i'm waiting for is that test and
then what
and then a green candle so with this
right here have been a valid trading
opportunity according to this strategy
we count on our offer rules we are above
the 50. we did make a
new swing high according to our last
swing high we had a pullback
of at least two candles we have our
swing low
and we have a re-test of that swing low
followed by
a bullish candle giving us confirmation
that we could see this market
continue into new highs with this
up trend now let's see where this market went
went
at this point your entry well you can
tell that it won and i know you're
you're asking this steven did you just
point out
two winning trades because you already
knew that was going to happen isn't that hindsight
hindsight
and the answer is absolutely that first
trade was hindsight
and this one hindsight but i actually
placed this trade
before this move ever happened and i'll
show you that
if you look to the left left side one of
these sides if you look to the left hand
side of your screen
i have a example of email analysis this
is an email i sent to traders
on the 18th or 17th of february
explaining to them what i was looking at
and my entry price which you can see there
there
my exit price and my stop-loss price and
as you can see
if i go over to that actual trade
it has done very very well this trade itself
itself
that you see on the screen was based on
the exact strategy i just told you so
as you can see this trade was not
exactly in hindsight as i did take it and
and
send it to all the members of the eap
training program
and by the way they get three to five of
these type of trade alerts
each and every week of course not all of
them are winners and especially not
winners like this
you will have losses in trading no
matter what but if you are interested
in learning some more advanced material
than what i share here on youtube and if
you want to know the exact rules of all
the strategies i use
personally along with getting three to
five email alerts each and every week
and this is a mentorship program meaning
that any questions you have about trading
trading
it'll be me personally answering those
questions for you and on top of all that
the absolute best part of this is that
there is a 60-day money-back
guarantee so if you for any reason are
not satisfied within 60 days
of purchasing the eap training program
just shoot my support staff
an email and they will get back to you
asap and send you a full
refund of your purchase price but that
was our second example
here of this specific trading strategy
let's take a look at a bearish version
so you have a full grasp on everything
and then
we're going to talk about how having a
strategy like this
is not the only piece of the puzzle you
need in order to be a successful swing trader
trader
in order to not blow your account as a
swing trader and more importantly or
just as importantly
in order to be a long-term consistently
profitable successful
swing trader so let's go ahead and dive
into a bearish example now
and then we'll move on to the other
important parts of trading
okay so for a bearish example we are in
a downtrend and
is this a new swing low yes it is we can
see that we have now pushed down to a
new swing low
we now have one two pullback candles at
that point
this is validated for me with this
trading strategy as a pullback so at the
point that we have a pullback
what are we waiting on with a bearish
entry we're waiting on selling pressure
or a red candle
and then a retest of that zone
between the swing high high and the
swing high body and then another
red candle with that red candle is where
our entry goes stop above
our highest high of the swing high targets
targets
for trend continuation so let's take a
look at what happened and kind of
dissect this trading opportunity there
we have a red candle
so at this point we're looking in this zone
zone
to see if we can get a green candle
pushing back up and re-testing this zone
and then another red candle showing a
selling pressure
we get a red candle we get a green
candle we get
another green candle and another green
candle at this point have we broken out
of my zone
yes we have the body of this candle
closing above
my zone means that i'm no longer looking
for a red candle at this point
now i have to redo my entire analysis
because this is no longer the swing high
of the current pullback this is because
we have a higher high and higher close
so now my box looks like this
and if we get a new higher high then
it's going to have to go higher so let's
just continue looking at price
and dissecting this specific trade now
we have red candles shooting down
and this right here is my zone because
this is my swing high
candle the swing high of that candle
down to the body
we now have our zone that we want to see
the market come up
and re-test let's see what happens oh we
get a re-test of that zone
now what are we waiting for now i would
be waiting on a red candle
for selling pressure because at this
point essentially
i have i know it's not exactly a double
top i'm just going to call it that for
simplicity sake
i have a double top while in trend to
the downside
all below the 50 period moving average
one of the nuance rules is i cannot
keep looking for this once candles close
above the 50 period moving average
once that happens i'm not considering
this market in a strong enough downtrend
for me to want to trade that strategy so
that's one of the nuance rules you need
to pay attention to
and you need to test for yourself all
this needs to be back tested we are
going to talk about that
plenty in just a second now what are we
waiting on we're waiting on a red candle
boom there's my red candle how does my
trade setup look looks like this i have
an entry there
one atr on my entry candle and if you're
not sure what atr is
it's right up here in the top left hand
side of my screen you can see
it's an indicator on every trading
platform go to your indicators type in
atr you will find it i have it with all
the regular settings so at the point of
my entry the atr is 94
what that means is i would need a 94 pip
stop loss and i want that stop loss above
above
our previous swing high so up to our
previous wink highs 88
plus 90 would be 178 plus 4 would be 181
so we have 181 pip stop loss and
we are looking at a target at a 1.4
which is what i like to personally use
and let's hit play see what the market did
did
push down and finally hit targets let's
take a look at one more bearish example
and then we'll move on okay so here we
are making new swing lows yet again
right we have a swing low
we have more than two red candles we
have a swing low and a pullback
all below the 50 period moving average
everything's lining up for a possible bearish
bearish
trade using this strategy so now
we are waiting on a push down right push
down with a red candle
and then a retest of that zone and then
another red candle
those were the worst candles i've ever
drawn in my life but with that being the
case let's click play
and see what happens there's our red
candle now we have our zone
that we are looking for a retest in and
once we get that re-test we want confirmation
confirmation
with another red candle so let's keep
pushing and see what happens here
we get our retest that's not a red
candle yet
we get higher here we go continuing oh
actually that is our red candle right
there so the reason that is a retest
and a red candle for confirmation is
because we are still inside of my zone
we didn't close above it we closed
inside of the zone and we did have a
wick that went above it but that's
totally fine
we do have candlesticks touching the 50
but have we closed above the 50 period
moving average
no so everything's valid about this
trade and this red candle would be the entry
entry
let's go ahead and do that 214 on stops
would put a 1.4 about the same spot okay
holy [ __ ] it lost yeah guys it lost and
i did that on purpose i just wanted to
show you one losing trade so you
understand that it's not some holy grail
no strategy ever will be this is just
something that has provided me with an
edge over the market
in the past years of my trading it's a
simple rules-based way
to make really accurate trading
decisions while swing trading
in any market and it's very logical
you're trading with the trend you're
using structure
and candlestick patterns in order to try
to capture
the end of a pullback before that next
impulsive move
up or down while the market is trending
but here's the bad news you can know
this strategy
like the back of your hand and you still
could end up blowing your account
or not making money as a trader or
wasting your time
trying to do this or losing a shitload
of money why
and how is that if this is a strategy
that provides an edge over the market
and makes money over time well there's a
lot more
factors that go into trading
successfully whether you're day trading
or swing trading
than just the strategy that you have and
i don't want you to leave this video
thinking that the strategy is all you
need and for that reason
let's dive in to the other parts of
trading you will have to master
if you ever plan to be a successful
swing trader
i like to break this down in something i
call the millionaire trader
checklist and what this is is eight
steps that you must take
before you will ever start making money
in any financial market
including the forex market so let's dive
into these eight things that you must
check off before you start trading live
starting with understanding the basics
of the market that you are trading in so
if you're trading the forex market that
would be
understanding what the forex market is
what a currency pair is
what a pip is how the market moves how
to go long and how to go short how to
place a stop and a target
understanding the way to take a trade in
your brokerage account would all fall under
under
the category of basics luckily i have a
full video on the basics of forex i'll
put it in the top right hand corner of
the screen it's like an hour long but
it does go through everything you're
going to need in order to master the
basics of forex
next you'll need to master technical analysis
analysis
and i know my handwriting is awesome
technical analysis
would be understanding a candlestick
chart would be
understanding indicators moving averages
price action patterns like double tops
and bottoms candlestick patterns like
engulfing hammer shooting star
you need to understand at least to a
certain degree
all aspects of technical analysis that
would all fall under category number two
and the reason you must do this is
because we're going to use a combination
of these technical factors
to create the next step which is to create
create
or learn a strategy
now in this video earlier i taught you
an entire strategy that's rules-based
and that has provided an edge over the
market for me you don't have to go
create your own i have plenty of strategies
strategies
on our channel and there's plenty of
other strategies out there you can learn one
one
and the good news about this is that
these three steps
should literally if you start from
scratch from brand new these three
steps should take you less than two
weeks if you have enough time to put
into it
two weeks to a month max you should be
able to master the basics master
technical analysis
and have a strategy that's rules-based
and that provides an edge over the market
market
but the only way to know if said
strategy does provide an edge over the market
market
is to back test which is step
number four or number four on this checklist
checklist
is to back test that strategy so your strategy
strategy
is going to be a rules-based approach to
every single time you trade
based on a number of technical factors
that's why we need to learn technical
analysis first
and then learn or create a strategy and
then we back test that strategy to ensure
ensure
that it's profitable even if you learned
it from a pro trader like myself
you still need to go test it to be sure
it's profitable and be sure you're
seeing the market
in the same way i am and there's no
other way to see
if this said strategy was profitable in
the past 100 trades
other than testing it in the past 100
trades right
and if it hasn't been profitable in the
past 100 trades the likely scenario is
that it won't be profitable
during the next 100 trades and we also
back test not just to ensure
that a strategy is profitable but also
to practice that strategy and train our
recticular activating system
to see that specific pattern on a chart
to see
all of our technical factors coming
together on a chart
more quickly and more easily because
acting fast even in swing trading
is really important in trading so you
want to make sure you go through your
back testing to practice
and ensure your strategy is profitable
and the third reason we back test
is to help with number four and number four
four
is optimize
you now have a strategy
that is rules based that you are back testing
testing
you need to be optimizing that strategy
you can optimize for
a infinite amount of things but the
three things i like to look for most
is i optimize for the best currency
pairs that this strategy works on because
because
some currency pairs act different than
others therefore
some currency pairs are going to perform
differently with
a certain strategy than others will i
also like to optimize for stop
and target placement to ensure that i'm
getting the most out of my reward to
risk ratio
on every strategy that i'm trading and
on every pair
i optimize for risk to reward ratio
because some pairs
move more than others those are the
three things i look at some other things
you may want to look for while
optimizing is
what time of day does your strategy work
best in
what period of the year how many what
months does it work best and
you see what i'm saying there's infinite
possibilities in terms of optimizing but
the three that i just told you
are the ones that i personally look for
now doing this is impossible
if you don't take the back testing step
first hopefully you're seeing a pattern here
here
every one of these needs to be checked
off in order
and now that we're done optimizing let's
say you have your rules based strategy
you've back tested it you've optimized
it you've picked six currency pairs
you plug all those numbers into a
spreadsheet and
then based on those results based on the
total number of losses in a row you have
based on the max drawdown that you see
based on historic data
and back testing you then have what you
need to help you create
a risk management plan
so number six on the checklist
is creating a risk management plan and
since you've done all the other steps
you now have the information
you need to do so so if this strategy
let's say performed
at a 60 win rate and gave you a time
when it had five losses in a row
then if that's what happened in the past
100 instances the strategy
performed or this strategy happened in
historic data
then it's likely that you're going to
have five losses in a row again
during the next 100 trades so the way
you would go about creating a risk
management plan
is asking yourself with those five
losses how much do i need to risk
each trade to stay comfortable during
drawdowns like that
to stay out of my emotions to keep from
making big mistakes and most of all to
keep from blowing my account
during those types of losses because
that's the two things that a risk
management plan does
first off it keeps you from blowing your
account and
not that it you can't blow an account
with a good risk management plan you can
but it makes it much much much more
difficult to blow an account if you're
risking a small amount
of your account per trade it also keeps us
us
out of our emotions if you for instance
right now when you place a trade
and you win the trade you feel like you
hit the lottery you're jumping up and
down you're
you're telling your spouse or all your
friends that you're gonna be the next
bill gates and you're gonna be the next
warren buffett i said the wrong name there
there
but if that's you and then when you lose your
your
droopy bad mood borderline depressed
then that it means that the amount of
money you are losing and winning during trades
trades
is too much not that the amount of money
you're winning is too much i get that
that sounded stupid but
that means you're risking too much
because the amount of money you're losing
losing
and really it means you're risking too
much because of how emotional
you are about these numbers in your
account and that means you need to
reduce the risk
in your risk management plan and all
this is done
preemptively by doing all the back
testing if you're risking too much i
guarantee you haven't back tested and
optimized the trading
strategy and created a risk management
plan around it so
that's your steps in this checklist
right that's the next steps for you
next after you create a risk management
plan it's something that
is so widely argued by professional
traders it's not even funny some say
that it's absolutely useless some say
it's necessary
i'm on the side that says it's
absolutely necessary but let me explain why
why
let me actually say what it is first
demo trading is the next
step now i know there probably is half
of you going
demo trading doesn't give me any
emotional stimulus
so why would it be like practicing
trading well you don't want to risk
money if you don't know
if this rules based strategy can
actually be
used in real market data so the reason
we're demo
trading is to make sure you can actually
accomplish the strategy you can place
the trade you need to place
even with your prior obligations like
having a job
like having kids to look after like
sleeping you want to make sure that all
of your trades
don't happen while you're asleep you
want to make sure they don't happen
while you have those prior obligations
you want to make sure that you can
actually perform the strategy
you also are going to demo trade because
if you're using market orders what you
didn't account for in your back testing
is something called spread and you need
to make sure that that spread
doesn't make your strategy just
completely irrelevant and lose the
profits that you could have made
i'm not saying demo trade forever i
think it's so stupid for people to
discount demo trading like it doesn't
do anything demo trading shows you all
of that it shows you and you want to
risk real money
wondering if you can actually trade the
strategy you've done all this work to test
test
you want to risk fake money you want to
demo trade plus
if you demo trade for a month and you see
see
that you have made profit over that
month then your confidence in this strategy
strategy
is going to be sky high you've now
created a rules-based strategy
that you can accomplish that you can use
every single day in the markets because it's
it's
a set of rules that you're going to
follow you've optimized it for the best
pairs you're using correct risk
management and you see in demo trading
that all that combines to actually give
you profit in a month
your confidence is going to be through
the roof and that confidence
is necessary for step number eight and
our final
check in this check list which is discipline
you at the end of the day need to stay
disciplined to all these rules i know
that it's so tempting to go chase the
next gamestop or dogecoin or amc
i know it's so tempting to jump on the bitcoin
bitcoin
bandwagon and i'm not saying don't do
that at all if you have
a certain amount of money that you're
willing to risk or if you trade in
crypto by all means go do that
but don't gamble even if you're doing
that at least have
some kind of plan have a set place where
you want to get out of the market
don't just put money in there expecting
it to go to the moon maybe it will maybe
it won't but at that point
all you're doing is gambling you can go
to vegas and gamble and by all means if
you want to gamble with your money
that's totally up to you i'm just trying
to explain the steps you need to take
to become a consistently profitable
swing trader
over a long period of time make it a career
career
not a try not try to make it a get rich
quick scheme and these are the steps
that you need to take in order to do
that so right now
if you are anywhere on this checklist
your next steps
should be very very obvious if you are
brand new
then obviously you need to start with
the basics then
learn technical analysis and you need to
go down the list let's say you're
someone who already knows technical analysis
analysis
but you don't have a strategy yet good
news i just showed you a swing trading strategy
strategy
earlier in this video so with that strategy
strategy
or with the technical analysis that you
learned you can now create
a strategy based around a combination of
technical factors that would be your
next step if you already have that strategy
strategy
you have it back tested and optimized
you can see where i'm going with this right
right
you can tell where you're at on this
list and on this checklist if you need
to write it down write it down yourself
on a piece of paper
and check off the things that you've
already accomplished if you already know
the basics great if you already know
technical analysis
awesome you have that strategy that i
taught earlier in the video but if you
don't have a strategy
don't check it off if you do have a
strategy cool if you want to use that
one from earlier or create your own or
you have one from someone else whatever
if you've already backtested obviously
you check that off and you just go down
the list and figure out where you are
and what your next steps should be
in terms of risk management if you're
like i was saying earlier and you're
someone who's
freaking out emotionally whether they
win or lose a trade your emotions are
peaks and valleys
then you need to adjust your risk
management plan if you've already
done all these and god forbid you've
done none of these
and you're trading live right now god
forbid you haven't done
every one of these and you're trying to
trade with real money
i can't i can't tell you what to do with
your money i will just
say please take a step back
and accomplish all of these things
trading's not easy
accomplishing all these things is not
going to be easy but if you set your
mind to it
you can do it in less than three to six
months and at that point your chances of
becoming a consistently profitable
swing trader go from down here
to up here not even just swing trading
any type of trading that you do
and an easier way a more simple way i
guess you could say
that i like to do this is with something
i call the triangle of trading success
a lot of you may have already seen this
if you've seen our channel for a while
this triangle looks like so like a
regular triangle right
inside of it is all the profitable
traders that are actually making money
on the outside are the things they had
to accomplish in order to make that
money the last
section we just looked at with that
checklist it was kind of broken down
a little bit more complicated not even
more complicated almost in a more comprehensive
comprehensive
way but they all must have a strategy or
way of trading that produces them
with profit over long periods of time
they all must have a risk management plan
plan
that keeps them from getting emotional
in trades and from
blowing their accounts they all must
have the discipline
to stick to those two things
so if you can accomplish all three of
these then you will be in the money with
your trading
it's inevitable all alright so i really
hope you enjoyed
that beginner lesson but if you are
ready for some more
advanced training then we just had a few
graduates come out of the eap
training program our flagship program
here at the trading channel i'll post
some of their testimonials on the screen
and that is incredible news for them
and that's also incredible news for you
because that means that we
finally have some spots available in the
eap training program
and while you glance through some of the
comments on the screen i want to tell
you that if you're struggling
to profit right now then i've been where
you are too
i struggled for over a year before i
found a way to be consistently profitable
profitable
i made every mistake you can think of i
moved stops
i used poor risk management i traded
strategies that didn't work
i followed a signal service that ended
up with me almost
blowing my entire account but after that
first year
and after nearly blowing an entire
account i found the real path
to trading success and consistently
profitable trading became as easy
as counting to six and that is what i
teach in the eap
training program i created a strategy
that only uses six
simple rules to create an edge over the market
market
so once you memorize these rules trading
becomes as
easy as counting to six
these rules are completely objective and
easy to follow
and although just having a strategy is
only one part of the equation it is a very
very
large part of that equation in the eap
training program we also have lessons on
risk management and discipline to make
sure that you have everything you need
to get on the right track to becoming a consistently
consistently
profitable trader and here's a look at
some of the things that are included
in the course as you can see we have
beginner lessons that
teach you everything you need to know
about technical analysis in terms of
what you're going to learn in the course
we have a transition course which is
meant to take you from where you are
to becoming consistently profitable and
after that we have an advanced course
that is meant to take your trading to
that next level
we also send out three to five email
alerts every week
these are not minute signals let me
clarify that but instead me to show you
exactly how
i am looking at the market and we also
do a review video at the end of every
couple of weeks to show you how the
strategies are performing
and you can check those out right here
so if more advanced
training is something that you are
looking for then we do have a few spots
available in the eap training program
this program also comes with priority
email meaning
you can email me at any point that you
have questions and i will answer you
asap so if a trading mentor is something
you are looking for then look no further
go ahead and click the link in the
description for the eap training program
and it would be a pleasure
to have you aboard and to have you join
us in the eap training program
if not that's totally fine too make sure
you're subscribed here on youtube
make sure to click that like button for
me if you enjoyed this video follow us
on instagram at the trading channel
and i will see you in the next video [Music]
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