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Transcript
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What’s going on guys so this is back to the how I get my prop firm payout series I put out part one yesterday which is basically talking about the mental side of uh trading and some of the things I do that are not actually hitting the button or looking at indicators things that have helped me before I get into part two we stream live every day 10:30 to noon 2: p.m. to 4:30 if you want to support the Stream use coupon
Code Cove Trader it works at all the prop firms all right so part two is going to be my setup it’s going to be all the the tools I use the setups I’m not going to get into trade strategies I’m just going to go into how I set my trade of AES up how I set my uh trading view up the indicators I look at and then uh part three will get into uh more strategy so this is more of how
I set everything up um basically I make the majority of my decisions on trading view but you obviously do want indicators on uh your trade of eight charts you don’t want it to just be blank so we’ll go right into it this is what I have I have the uh 34 EMA the 8 the 200 and the 105 the 105 is actually the 21 on the five uh these pivot Points do not show on the chart ever uh you got to
Like really zoom out I do not use these anymore the vwap bands I just used vwap I got rid of the Bands so uh band you know deviation one and two are gone uh Tiki opening range the that’s those blue lines that you’re looking at right here this is the 15minute opening range and this is the hourly imbalance just so happens on the day I’m showing you that that the uh bottom for the 15 and the hourly are the same line
Um and I have stastics at the bottom oh actually I don’t use these vwap I use C vwap I think that’s the one that shows up and you got to create two opening ranges you got to do one for the 15 and one for the uh 60 and that is my setup on Trader let’s move on to uh top steps the same thing all the all the prop firms are pretty much the same thing I just kind of have moving averages
On there and vat when I go into I have multiple tabs on trading view if you don’t have trading view I highly suggest you get trading view I mean it’s like you know you doing if you had a business you’d want the best tools for your business right you have to treat this like a business you should have a charting Tool uh like trading View in your disposal you can run a lot of scripts gives you a lot of information and
Uh it’s definitely a must have so I kind of have multiple tabs because I can’t have everything on one chart on this one I basically have uh fair value gaps breaker blocks vwap pivots which are these yellow lines and then uh I have my EMAs the EMAs are not 2050 100 200 once again again it’s uh I have it as 8 or 9 34 200 and then I have 377 that’s how I have this tab set up this tab I have
The opening range for the 15 and the 60 I bring vop back over here also and then I run this Spaceman BTC it basically shows previous day low open previous month low shows a lot of good data that you want you want yearly opens weekly opens Mondays High Monday low uh you know this is all things that you’re going to want to have on your chart places of interest draws and that’s all with uh Spaceman I also put on uh volumized
Breaker blocks let’s go to the next tab next tab I I like to look at different time frames so this is the 5 minute the 15 and the hourly on these I have um bearish and bullish engulfing candles I have um the Luxe algo three bar reversal pattern which is these yellow you can see how it works a lot of the time s it calls the top before the dumps I mean what are the odds one two three four I mean
It would have been four for four on the hourly um you could see it popped right here uh I really like that indicator it it definitely you know definitely works I did a whole back testing video just on that just on this indicator I did a back testing video I do uh fair value gaps I have the EMAs and um that’s pretty much it I just want to see fair value gaps EMAs and uh I’m really looking at the different time
Frames because I’m looking at the minute a lot and this kind of brings it back where I can get a look at what’s really going on on a higher level to see where the trends are at and what’s going on there over here this show shows me the sessions I have Asia London New York um I also have each one of these boxes represents an hour so you can look for the hourly sweeps just like this and I’ll go over strategy
For that I actually have a whole video the video is called 94% win rate um I would go watch that video If you haven’t watched that video but uh yeah so I look at the hourly boxes I look at the uh the def the different sessions and things like that and then I have a couple other tabs that I have on this side where I’ll look at gold I play gold on the hourly so I’m always having gold up the only
I look at gold is basically you could see the uh alerts here and you could see I have the uh three bar reversal working at the same time I use adaptive Trend flow just to kind of see what the trend currently is it’s more of a visual thing I don’t really have to look that far into it and I have the UT Bots running which give Buy sell within the trend and I have it on the 5 minute and this is
The 15 second don’t get me wrong the 15c you’re not really trading the 15 second cuz when you look the trend changes every you know I think that’s this is a 5 minute window you know it goes longer than 15 seconds but it’s just kind of a visual thing that I like to keep up and it’s just lets me know hey you know maybe I’m not looking for shorts or if I’m looking for shorts what you know are we trending up
Down it’s just a visual I like what it looks like and um it’s more like a secondary uh indicator or third indicator and then um that’s all the tabs I pretty much have open at any given time so it’s you know one two 3 four five six I have another one that kind of just shows the same thing but instead of black it’s it’s got the white background I’ll just show you what that looks like and basically here I kind of
Play around with some some other things that uh I’ll throw on I’m not really using this the one that’s on here that I haven’t showed you is uh what is this the source super Trend thing I don’t yeah like this I I just kind of play around if I’m looking through the day I’ll throw different things on this chart as a uh you know oneoff I just want to see what’s going on here or if somebody ask me to bring something
Up I’ll bring it up on this chart because it’s kind of my not throwaway but something I’m not really looking at on the uh the daily but that’s my setups those are my tools um my TR that’s my trading view setup my trade of8 setup and then uh yeah you don’t really need much more than that I know it seem might seem like a lot I have uh three monitors that are 24 in and I have a laptop so if you’re
Wondering what my setup looks like I have a decent amount of screens and I like to look at a lot of things um to make my decisions so that’s the setup if you have questions comments comment on the video uh come on the live stream and uh I can walk you through how to set any of this up and I will go over strategy in the next part
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