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Transcript
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What’s going on, guys? So, I’m going to go over a uh Trading View indicator that I actually used to use a lot. Um I think it’s a great indicator for newer traders. And uh I’m going to go over how to use it, what it is, everything else. Before I do, uh if you want to see me trade live every single day, subscribe. Uh it’s all for free here on YouTube. Uh also, smash the like button. I mean, it costs nothing. And
Then, uh, if you’re looking to save the most amount of money with prop firms, be sure to use coupon code. Also, in the description of this video is a free link to our free Discord. We have free exclusive prop firm uh, discounts. We have a free futures course. We have a bunch of other free stuff. Everything’s below this video in the description. Um, all right. So, let’s just get started on this. Basically, this is a trend indicator with targets. Uh, it’s
Pretty interesting. I’m going to hit the replay. I just went back to the beginning of the month just to kind of show you what it looks like. So, I actually use this a lot when I was trading originally. Basically, it just gives you a couple targets um and things like that. What I like is, you know, they tell you when it goes off. So, I used this, but I also had my own system in place as well. Once we went 10
Points into the green, I went to break even. So, it’s 10 points break even. I let it ride. And I’m just going to show you what uh how it works. So, I also, by the way, just because this is the beginning of the market, I also don’t normally trade this indicator the first five minutes of the market. I wait at least five minutes for it to get settled. And for argument sake, say five minutes is up and we got triggered down
And we come back and retest. I’d probably grab that, go 10 points, I would be looking for uh you know stop at break even and then you know you could just see how this system works. They have different TPS. So I was buying I think nine micros and then taking three off at each and then as we surpassed each level I would move my break even up to the next stop the next stop and it was a pretty good indicator. I
Would not I I mean I used it obviously on trend days it works better when you’re getting you know some nice intraday swings but it was just a solid like for argument sake like right here we took a loss right but you didn’t take a loss you would have gotten in yeah you would have taken a loss you would have moved up you know I would have moved up your your entry would have been here your stops here that wouldn’t have
Been a loss but you actually took three TPS on the way here three TPS on here. You took TP there. I mean, you’d be up a a pretty amount of money now. Um, [snorts] but yeah, it it’s one of these interesting indicators. The indicators target trend by Big Beluga. It’s written right here. And it’s good for newer traders to be on the right side of the trend is kind of what this indicator is for. Um, why I go to like like
Right here, I would have went to break even. You know, look at these gains compared to what you would lose. I also did not always. So, for argument sake, this like say you came here and then we went down. My break even then would be right here. And then my goal with this indicator is basically to get to break even as fast as I can and then let my contracts run. So some something like this, you know, I get in, I
Get a little draw down right here. And then as soon as we go this way, I’m I’m moving my stop here. So from here to here and then once we go 10 points in now, I’m moving my break even to right here. And the rest of the trade is free. And then you can see you’re taking your positions off. And uh yeah, I mean it just gets newer traders. The idea is always to be moving moving down moving down. So basically
You want to get used to moving your stops down. So you would have taken off off and then I would have moved my stop to here and then honestly I probably would have moved my stop to right here and I probably would have gotten taken out of my last bit here because I like to just keep moving down down because you know I don’t want it to come all the way back. But as you can see, it ended up hitting. I
Mean, maybe I should just trust the indicator. I don’t know. It hits a lot. But this is how the indicator works. Um, is it this good every day? No. This day, obviously, you would have smashed. And this was a random day. I didn’t like be like, “Oh, this is a such a good day. I’m going to use this.” This was a random day. Uh, you would have hit one, two, three, four, five. I mean, you would have been five for five,
Six for six. I mean, this is awesome. I also don’t trade this indicator like the last half hour of the day. Um, I feel like you can get stuck in a position and, you know, not let it go to TP where it’s kind of supposed to go to. So, I would probably be out right here. I mean, it might go up, but I am I’m not trading probably the last half hour, maybe even 45 minutes of the day. I’m I’m out
On it. And I definitely don’t trade this indicator uh after hours. This is one of those things that, you know, you trade the majority of the day and uh and you keep it going. But let me know what your thoughts are on the indicator. I’ve back tested this. I have an older video. I back tested this. The back test was really good with my rules. Um you know, you have your initial stop and then you move up to break even once
You’re 10 points out. You know, once I was, I think 20 points out, I went five points uh in profit. So, my goal was to get to profit. And then after I was five points in profit, once I was moved it to five, I would just let the TPS take. But uh yeah, my goal was to get something. So it was 10 points break even 20 points your five points uh in the profit and then you can just kind of move
Down as the the candle structure is or take off on your different TPS. So this is it. I hope you enjoyed this. Um I back tested this like I said another video. It was a good indicator and I’m passing this to anybody that’s looking to test something out. This is one you should back test forward test and let me know your thoughts.
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