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What’s going on guys so back with part four of the how I get my prop firm payouts um if you haven’t watched the other parts they are on the channel if you want to see me trade these different parts live subscribe below smash the like button and uh join the live stream we stream every day 10:30 to noon again 2 p.m. till about 4:30 if you have questions or comments leave it on the video and if you want to support the
Stream use coupon code Cove Trader everything’s in the description of the video it works at all the prop firms so let’s jump right into this so part three was my opening range trade and part four is the trades that I look for pretty much from 8:00 a.m. to 400 p.m so as you look this I I this site and Q stats um the guy that owns it’s great it’s all free uh the data is back by 10 years worth of data
As you can see right here and um so basically if you take out the prior high or the low this is the percent chance you’re going to return to the open so see takes out prior High trades back to hourly open but when you then break that down into individual 20 minute time frames look at the percentages if it happens in the first 20 minutes so that’s what I’m looking for is in the first 20 minutes an hourly sweep to the
Upside or the downside because the rate of return back to the open is super high and I’m willing to play 84 87 9 4% um so I use these indicators basically it shows me the hourly box and uh it shows me that also the uh London highs New York Asia and what I’m looking for is stuff just like this hourly sweep return all the way back return to clo uh open and I would have got in at 41 out 23 points
And you’re just looking exactly uh for sweeps now if it doesn’t happen in the first 20 minutes do I take it typically not so like something like this I would have been out on because it didn’t happen in the first 20 minutes and it’s all just kind of uh see another one didn’t happen in the first 20 minutes perspective happens right away we sweep back down two for two so look sweep return three for three so it just it happens a
Lot and I’ve been taking these trades I’ve been highly profitable taking these trades and they happen a lot happens a lot a lot so it’s just something that I use this indicator um you know it’s super easy I’m also now that I have the uh the London open and and New York open I’m starting to play the the sweeps sometimes or the breaks I’m starting to toy with that as well which is highly successful I’m going to go into that in
A whole another video but right now I am just kind of looking for hourly uh hourly sweeps and obviously you got to see like listen if we got news going on and and we’re just dumping all day have some common sense that’s all I’m going to say like something like this like if you’re just dumping I’m I’m probably not well obviously this happened at the end of the hour and this next hour started right here I’m not taking that because it
Started right at the bottom you know what I’m probably looking for is like even this even though it worked well I I would like to start more in the middle of the candle and sweep that’s kind of where I feel more uh more comfortable but yeah that’s pretty much what I’m looking for you know you just get one but yeah it’s uh higher time frame so I’m using this HTF candles and I’m using the Lux algo I kill zones tool kit
And I’m basically playing hourly sweeps in the first 20 minutes minutes uh with the return back and usually my buy for something like this you know your buy is when it comes back into uh into the range or what I do what he does actually he’ll go on the 30 second chart and I’ll show you what it is he’ll go on like a 30 second chart and he looks for uh I don’t actually have it on here I’ll just edit real
He’ll look for uh a a 30 second fair value Gap to get inverted and that’s where he’ll uh he’ll jump in uh do I have one on here that’s a late hourly sweep see the problem is they disappear as they get taken but that’s um one of his methods is so basically you don’t have to wait until you get for our let’s see what happens right here so see you got fair value Gap right here taken I I prefer to get
Back in when it comes back into the uh so right there it takes now you’re starting to flip them that’s pretty much the gist of it um I don’t hold the whole time I’m not looking for the whole massive grab I just noticed that we when we sweep back into the hourly we get a sizable move where you know 82 to 17 is more than enough not only is that more than enough but you also have to look at your surroundings
Like you’re going to hit 20,000 you’re probably going to bounce it’s going to be some type of support and remember this is over a 10y year period of time so there’s things that do happen um you know it it didn’t work you know 15% of the time where you can continuously get smoked but that’s why you have stops you know something like this it didn’t come back but you got to know you’re getting close to 20,000 hey man time to take
Your money off you’re up a ton just leave it but that’s pretty much my next trade that I look at through the day um the next video will be my uh 15minute orb trade and um and we’ll just continue these videos uh going forward
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