👉 Be sure to join our live stream each day here on Youtube 10:30AM -12pm and 1:30pm-4pm each day.
Transcript
Auto-generated from the video audio — expect imperfect punctuation.
What’s going on guys so I found uh great trade setup uh solid trade I back tested as far as trading view allowed me to go I also um I’m going to go over the rules of the trade and everything before I get into that uh we stream live here on YouTube uh 10:30 to noon again 2:00 p.m. till about 4:30 uh I forward test these all these strategies live on the stream if you like this video smash the like button subscribe
So you’re notified when I go live and if you want to support the channel it won’t cost you anything use coupon code Cove Trader when uh grabbing your prop firm accounts it will automatically give you the biggest discount at uh take profit Trader bullx tradify my funded Futures Apex um all right so let’s jump into this so obviously there’s rules to the trade basically the setup is just a clean 15-minute orb we’ve tested um we tested the other side of this
Trade which is the sweep below and then come back in and that was highly successful as you could see that trade paid off right here um that trade paid off right here so we were talking and somebody brought up the other way so I was like you know what let’s see what happens you know I’m always looking for the sweeps does it sweep and if it sweeps what can we get how many points um so basically you would have a 10
Point stoploss and I’ve calculated out uh if you would get four points 10 points 15 points and then more than 15 points um I also didn’t use trades like this so I just want to take so for argument sake if the bottom of this candle is basically at you know the orb right here if you zoom in is probably like you know 4922 five so four points you technically would have gotten Four Points so obviously this is a winning trade but
It’s like so close that somebody can easily just put it down a little bit and lose so to try to be fair and sway it to the worst case scenario I did not count trades like that so basically I just back test Ed and what I came out with is if the 15-minute orb you basically set your buy literally like right right above it to break and right below it like right there for a a drop uh I was only only
Able to get about eight trades to the upside oh no sorry I got 10 trades to the upside two were losers so it’s 80% win rate seven of them would have gotten you 10 points so basically if you would have just done 10 points to the upside 10 points to the downside you would have gotten stopped out three times [Music] um and seven times you would have gotten it you would have been plus 40 points which is a profitable trade uh
If you just did eight if you just did four points eight times you would have hit two times you would have lost and then if you held for 15 points to the upside six times you would have gotten 15 four times you would have then gotten uh stopped out to the downside was interesting the downside there was 12 times one was a loser so you would have made a lot more money to the downside I back tested this before um and
I want to say the win rate was in the 80% range on both um I probably back tested this a couple times I was looking for my old sheets and I had about 30 something trades on each side um I was back testing it day after day after day and um just recording it and the win rate was something in like the 80% range you know 84 or 85% range um you know to grab uh four points and I want to
Say it was in like the 70 high 70s for 10 uh you know I think this is a great trade um the only thing that you I worries me obviously is there’s certain things you you should look out for and I noticed when I was back testing so argument sake like something like this you’re basically at 21,500 so obviously there’s going to be support in this range so will this trade work out I it’s rough you know there’s a lot of
Things like that where you just kind of got to use your common sense the losers that I saw were very uh were a lot of common sense you know that was the biggest thing like this one was an iffy one I didn’t I didn’t quote unquote what is it 405 you know you would have taken a loss year but like you know am I going to start shorting at 405 probably not you know uh whole number it’s just something that I
Probably wouldn’t have done you know you had a higher high I I don’t know probably not my trade so like some of those losses that you see the rate would actually be higher if you just grab some context to the trade um you know that was a winner and then we never went below the uh the other 15 just to show you what some of them look like you know this was a winner you know once again though look we get
Around the whole numbers you know 20,000 you just just got to know that a bounce is probably going to come come your way but uh you know it it was pretty it was pretty good you know is it the best trade I’ve taken no um it definitely works to the upside um we obviously tested this trade which is the comeback trade uh you know another thing I didn’t really love is you know when you make a low right here and the
Candle basically closes at the bottom you know that’s freaking iffy I want to see some movement into it see I’m just trying to find another example here I mean this thing just went freaking like if it would have closed right here it would have been iffy but because you bounced a little bit and then dropped is more what I’m looking for you know that was another winner you know ton of winners ton of ton of winners and net net it’s definitely
A profitable trade here’s where you get a loser so basically you travel from one orb all the way to the other orb and then you travel basically from this top orb all the way down I’m not sure I’m taking this trade first of all you’re going it seems like you’re going touch to touch also you literally just traveled down 90 points in two minutes in 2 minutes you travel down 90 points like I Mark I mark this as a loser on
The sheet but you know you this is why I’m saying you have to have some type of context of the trade like if it just moved 90 points and it looks like you’re just going orb to orb I’m not taking this this actually qualif ifies for the other trade The Sweep of the lad The Sweep of the orb and then you trade back through that’s what this but like I said it does work out you just have to look you know
So this isn’t a cut and dry type trade but this is definitely a winning trade if you just have some context to the trading environment slightly not even high knowledge just you know know hey the trend is down you know you’re able to scout this right through 23 boom I mean you could e easily get 10 points but look the context to it that the the trend you know you’re not getting any bounces you know we’re not bouncing all the way
Back up it’s just dying off um this was an actual take long you know you started you Trend Trend Trend Trend uh 27 and uh you would have gotten this what I like about this trade just for context is we’re trending up you make the high and then you give it a dip and then we go back up I liked that but so this is definitely another winning um back test strategy it’s just one of those things that requires slight context
On where you’re trading it and what’s going on all right if you want to see me trade this Live come on the live stream and uh I’m going to implement this
Leave a Reply