Alright, what's going on? Everyone? It's Jitendra. And guys, if you're looking for the simplest, easiest scalping or day trading strategy for cryptocurrency.
It works in forex as well. Then you're in the Right place. So I don't know how many of you came from this.
And it started off, and it got like 1000 views, 1500 views, which is good. We're averaging a bit more. So I thought it was underperforming, but then suddenly out of nowhere, it exploded.
And now it's almost at 280 views and maybe even over 300 by the time you see this clearly, there's a lot of people that want to see more of that.
We've got tons of comments of people asking me to do more of these, and I'm happy to do them. So these are just strategies that I come up with. I'm not claiming ownership of them. However, I haven't copied them off anyone else.
I've literally just sat around, played around with something, found something that works, and I'm sharing it with you guys.
So if you are new to the channel, we do videos like this every single day trading-related, crypto-related, all that kind of good stuff.
So if you do like that, stick around, subscribe and give the video a like and let us know that you liked it.
So we're going to start off by introducing trading as a whole because I know a lot of people here will be beginners. So I want to make this as easy and simple to follow as possible.
So if you're taking notes, you can start here if you're not just listen, we've got a lot to cover. So we're going to start off with time frames.
Okay, because this is a scalping strategy. That means we're going to be primarily focusing on a lower time frame.
And for this strategy, in particular, we're going to be focusing on the five-minute time frame.
So up here this is Trading View, by the way, Trading View that's the platform I've always used for trading. Very helpful for charting.
You can get the free version. However, I do use a paid version just so I don't have to deal with ads.
So five minutes, 1 hour up here, you can go down, and you can start or favorite your favorite timeframes.
We will literally just be using these two-time frames for this post. You don't have to worry about anything else.
As I said before, I really do want to keep this as simple and as easy to follow as possible. Anyone can do this.
So we're going to be using the five-minute and the 1 hour. The 1 hour is going to act as a kind of base time frame.
So this is what we're going to use to identify which way the trend is going. Are we going up or are we going down, then on the five-minute?
That's where we're going to place our trade based on the direction of the 1 hour. So it gives us more confirmation and a confluence of factors.
So those will be the time frames we'll be looking at. Now we need to look at the indicators. So we go to this FX, the top here indicators and strategies.
We click on that. And all we have to do is type in which indicators to be once, and we only need two.
So SSL channel. This is going to be the first one and then the next one is going to be the exponential moving average.
Perfect. So now we've got those two indicators. I'll show you how to set them up properly.
Ok, again. So very simple. We're just going to go up here to the settings button over the SSL channel. Click on that. And as you can see, if we go to inputs, it will give us the ten.
And we are going to keep this exactly the same. You can choose whichever colors you like, but we're going to keep this exactly the same.
Perfect. Now we're going to go to the EMA, and we're going to do the same thing.
But we're not going to keep this one the same. We're going to turn the nine, and we're going to change it to 50. So 50 for that.
And personally, my preference is to make it kind of Pinky, purple, and embolden. It is a little, a bit more.
So these are the only two indicators that we need in this whole strategy. And I've actually got a checklist of seven rules you need to follow in order to be successful at executing the strategy.
So very easy stuff. I'll share the rules with you in a second. So let's just start off.
We'll hide this here by clicking I button there. So we're just going to start from the 1-hour on the 1 hour. We just need the SSL channel.
And on the five minutes, we just need the 50 EMA. So we're only using one at a time, which makes it even easier.
So for example, let's see if we can find a trade here. So the way the SSL channel works is if the green line is on top of the red line.
Then we are looking at an uptrend. And if the red line is above, we're looking at a downtrend. So green equals buy. Red equals sell.
Now, if you guys want to learn more about trading and also cryptocurrency in general, as well as follows the exact trades that we make on a week to week and month to month basis.
Which this month has yielded over 100% profits, then join our VIP Coin Calls group on Patreon. There will be a link in the description and in the comments.
Literally, every single week and month, we will provide you with at least five or ten coins that we see are going to go and do very well in that month or a week.
You guys can invest in them and hopefully, we make a profit. We've got a whole system of rules that we follow.
And also we do bi-weekly webinars where Tom and I will invite everyone in the group for a free webinar, and we'll discuss cryptocurrency, as well as our coin, picks for that week or that month. So it's a really good time.
We actually had our first webinar today, it went really well. And if you want to join over 100 people in this group, then feel free to do that down below. Hope to see you over there.
So let's say we were looking for a buy trade. So let's imagine we hadn't seen any of this right here.
We'll pretend we're blind, and we haven't seen what's just happened. So let's pretend this is happening in the market. And obviously, I am cherry-picking here.
There are going to be losers. I'm not going to hide that every strategy is going to have losing trades. So you just have to accept that.
But as long as you make more winning trades than losing trades, then you'll be profitable overall. And by all means, go and test this strategy before you use it.
Don't just use it blindly. I promise you, if you do that, you will lose money. Learn it, make it your own. Really go for it. So let's pretend we haven't seen this.
And we've just seen the green line cross above the red line. So we know now Ethereum is in an uptrend on the 1-hour chart. So that is a good sign on that hand.
So now we go to the five-minute chart, and we're going to be looking for an entry. So we're going to turn off the SSL channel, and we're going to turn on the 50 EMA.
Now what we're looking for is a price to come from wherever it is right now and go down to the EMA.
Now the EMA acts as an area of value, and the price will always respond to an area of value, whether that's in the way you want or not.
So what we need to do is trade near these areas of value because that is where the good trades are made. So let's pretend we're just sitting along, and we're waiting. We'll see what the price does.
Okay, so a big move down. We're almost at the 50 EMA, but not quite.
The entry signal or the entry reason that we're going to be using here is called a bullish engulfing pattern. So it's an engulfing pattern is the main entry signal.
I'll be teaching you in this video, there's a bearish engulfing and a bullish engulfing. And I'll show you what one of those is. Once we get one there, that is a bullish engulfing.
Hence, the name is pretty self-explanatory the bullish candle engulfs, the bearish candle before it. So that's also happening on the 50 EMA.
That's multiple factors of confluence to give us a high probability trade. We've got a bullish engulfing pattern happening on the 50 EMA, whilst we're in that trend on the 1 hour. This is a perfect trade opportunity in my eyes.
Now, this is looking like a perfect trade so far, but we need to take into account where are we going to set our stop loss to ensure we don't lose more than we need to.
And where are we going to target for a profit target? So I'll be showing you how I do those two things. Of course, it's completely up to you.
A lot of it is a preference, but if you want something to follow, you can always use this. So, for example, we'll be entering the trade at the end of this candle here.
Because this is the end of the bullish engulfing pattern. So our stop loss is going to be quite big on this one, and we're going to put it below this area here. So it's just below this low here. Now, why am I doing that?
That's because this is the area of value right on this EMA. And we have rejected the EMA. We pushed upwards. So I know if the price comes below here.
I don't want to be in this trade anymore going long because it will probably go down. So this is kind of the area where if it goes further than this, I want to get out.
I'll take the loss, but I'm happy I got out early. But now for the fun part, we get to target an area where we want to take profits. Profits are always the most fun part of any trade.
Now, what we like to do is scroll out and kind of target an area that's been shown to have a lot of resistance. So here that seems to be a pretty good level.
We could do that. However, if you're feeling very adventurous, you could set it even up here. And there's a lot you could do with it.
But let's say we set it like that. Let's say we're trying to be a bit adventurous here.
And let's see how it plays out. So we're in the trade and there we go. It completely pumps, up, and we make money on the trade.
And that's the outcome that everyone wants from a trade. So, like I said, it's super easy.
I'm going to show you know the rules that you have to follow every single time to execute this trade perfectly. Now, executing the trade perfectly doesn't mean you'll make money every time.
But it does mean you're sticking with the rules. And if you do this enough times over time, hopefully, you will be profitable.
Let's find another example to try and help you guys kind of visualize it a little, a bit better. So as you can see here, we have just crossed into a downtrend.
The red line has just crossed above the green line. So this is the 1-hour chart, and that is a sign that we're looking for sale trade.
So we're going to go over to the five-minute chart. And now what we're going to do is we're going to turn off the SSL channel.
We're going to turn on the 50 EMA and remember what we're looking for. We're looking for a retracement back to the 50 EMA.
We've got that. Now we're looking for a bearish. Engulfing candle.
So the bearish one candle has to be bigger than the bullish candle before it. That isn't one because there's.
Thanks
You must be logged in to post a comment.