Day Trading Forex Live - Live Trading Room

Hey guys and gals its Sterling here from Day Trading Forex Live (DTFL). DTFL is the home of bank manipulation. If your interested in learning how the banks manipulate the forex market the link below goes to a 3 part video series. Enjoy!

http://www.daytradingforexlive.com/f...d-your-friend/​

-Sterling

Hey I thought I would start with a few videos from the live trading room that I had off hand. Heres a few links to some live trades on the GBP/USD and one is a short introduction to the room itself. Much much more to come! I'm compiling a bunch of forex day trading articles, forex scalping videos, and anything else I can get out there to teach forex trading as effectively as I can. Hope this helps!

Also for the next few day maybe even week, if you guys could just let me get some educational information on here before the posting and questions start that would be very much appreciated. That way there is solid educational value for the new comers new the front of the thread so they don't have to fish for it. Thank you

Live Forex Trading Videos

About Our Live Forex Trading Room

Lately Ive been getting quite a few questions as to the strategy's used in our live forex trading room and about the room in general. And I would like to very briefly give a overview of some strategies used and why the room is different from what you see often in the form of forex education. This will not be an in depth explanation of the techniques used to day trade in the room, because I intend to do that one part at a time. After reading this post in full if you relate to a lot of what I say go ahead and take our completely Free 10 Day Trial.

First and foremost lets discuss a well known fact about those that enter the forex market....95% of all traders will lose money, get discouraged, and walk away with a loss. Why does it have to be like this? Quite frankly it doesn't! You choose your own destiny, you choose your fate in this market like everyone else!

You can choose to pay for an education or you can choose to go the route 95% of all traders take and let the market take your money due to a lack of education. Sadly most will take the second option, and in fact I did as well when I first entered this market. After a year of losses and 10K later I decided I WAS going to be a forex trader no matter what it took!!! I then started buying every educational package, indicator, black box system and everything else I could get my hands on.

After years of taking what worked from my education and tossing aside what did I finally had something I could day trade the forex market with and make money....and more importantly consistently.

Lets also mention another fact that is common among that 95% of all forex traders. Is it not true that most all systems you see include indicators of some sort? And most people use those same indicators with the same results over and over with negative results. WHY?!?!?! Indicators are quite simply just a pretty representation of what the price has already shown you, so if you can learn to read raw price data you'll be ahead of the curve.

So why don't more people use raw price movement to trade this market, its very simple....most if not all services in this market don't teach it. You have to wade your way threw so much BS often times you'll never find people teaching trading from strictly from price. The sad part is once you see it done live it just starts to pop out at you, its so simple but yet effective.

If your tired of the same strategy with a different pretty wrapper on it then I think its time to check out what professionals use. I mean let be realistic, do you think bank traders are sitting there behind their big desk with some perfect combination of indicators and thats how they make all that money? So why do retail traders try to make that work? Without a doubt its because thats what the masses teach and that is why the masses (95% of all retail traders) will walk away from this market never realizing their own potential as a trader.

If you would like you can test drive the Free 10 Day Trial at no risk to you. At the very least you will walk away learning something at no cost to you. In addition to what we push the most, a proper education, you'll be able to see how the profitability of the education yourself through our live trade calls. I hope to see you in the room, and happy trading!

-Sterling

Often times candles and candle patterns are used to signal the reversal of a trend. On the other hand we have all heard the say "the trend is your friend". Those two points contradict each other do they not?

So then how do you use candles with the trend? A very simple way of using candles with the trend is waiting for a retracement against the trend and then a reversal candle at the end of that retracement.

As an example, say the market is trending down, you then have a few positive candles forming a nice retracement into an area of resistance. If the candle that hits that resistance forms a reversal candle or candle pattern, you now have a better chance for profit. Why?

Simply put you now have the overall trend in your favor, you got a retracement which allows for a tighter stop, there was a reversal candle at the end of the retracement, and it retraced into an area of resistance or support depending on the direction of the overall trend.

This strategy can be used on any time frame you like but does take time to master and perfect. Ive also made a video that clearly illustrates this strategy so that you can actually see it live.

Reversal Candle Trend Continuation Trade

-Sterling

With negative day trades as well as positive day trades you can gather a lot of information by looking at the results.

Trade #1 - Following the 2AM open the GBP/USD continued to sell off. As expected there was a retracement during the normal London reversal time. Immediately following the 3AM London open was 2 beautiful reversal candles. After the break of the low of these candles we went short. With an initial stop of 20 pips, we got hit by 1 pip only to see the market turn. Some with smaller spreads and on different brokers survived this and managed to make some money on it with the original take profit.

Following the reversal candle setup there was no immediate move down. If there is no follow through in the direction you are trading within 2 candles of the reversal candle its often better to get out. Given the first run down and the classic shooting star reversal candle I broke this rule and thus missed out on getting in a bit higher. No doubt you will have losses but learning something from the losses is key to not repeating them

Trade #2 - At 10AM today new home sales came out much worse than expected. Normally this would move the GBP/USD up and head towards USD weakness. With the Yen crosses selling off on this release the first initial reaction followed them on the GBP/USD and EUR/USD. Seeing this we went long after the price on the GBP/USD reached support and started to work up. On the same 5M candle we entered, we closed the first half for +30 pips and unfortunately the second half was closed at break even. We expected more follow through right away but none the less a profitable scalping setup.

-Sterling

Reflect for a minute about your goals in the forex market? Do you want to become a full time day trader, swing trader, or position trader? Do you want to simply supplicate your current income? Are you after the freedom this market could give you? Do you want to provide a better life for your family?

No matter what has drawn you to the forex market, in order to achieve your dreams you need long term overall profitability. You know that you cant make all your visions come true with one good month, quite simply it takes time. This is not a get rich quick scheme, it a long term business opportunity and needs to viewed as such.

If you had to guess why most new traders to this market meet their demise so fast what would say? No doubt they lack discipline, patience, knowledge, and the list continues. While all the above is true, ultimately poor, very high risk money management is the number one reason new traders wipe out there account.

You see you can lose over and over and still not wipe out your account if you use the correct money management. While learning this market, and learning your win/loss ratio you need to control losses. After you have statistics such as win/loss and risk/reward on your trades overall you can then set a higher risk per trade to fit your method.

There is no hurry here and patience is key. You will make money slower but this market will be here....its not going anywhere. I have another article here that talks about proper money management, it also goes over risk, and rationalizes on why this is so important to making profitable trades in general. I hope it helps!

Money Management - A Day Traders Key To Success

Here is a great example of a chart pattern (1) confirming the short term trend in the GBP/USD and then a pullback to the previous resistance now acting as support (The blue arrow indicating the candle talked about on the pullback). As you can see previous to our entry the symmetrical triangle (1) showed the market was short term bullish on the Pound. When the market retraced to this area of support a nice hammer reversal candle formed giving us 3 key factors. (candle marked by the blue arrow)

1.) The market showed us its short term direction with the break higher.

2.) The market then pulled back against the trend into an area of support.

3.) At that support there was a reversal candle formation confirming potential trend continuation.

We placed a buy order above this candle and went long from 1.5015 After the market gave us +30 pips we closed half and we are currently still in the trade looking for 1.5145 for the final half with the stop loss at break even.

A few days ago I made an article outlining this exact strategy. Its called Forex Entry Signals For Day Trading - When To Enter It is the second article down and the chart to support the article is just above it at the bottom of the first article on the page.

You will also notice on the chart 2 great chart patterns often used in our trading room. The first is a great symmetrical triangle (1) and the second is a great ascending triangle (2). Both would have proved to have been great entries on the breakout. In both cases the breakout is confirmed once not only the upper trendline is broken but also the previous highs, which are marked with black lines showing the entries.

-Sterling

Here is a nice trade setup from Wednesday I believe. This one ran a bit longer than usual but the overall reversal trend was in our favor and the continued higher highs as well as higher lows was enough to hold us in this one. On the first half we took +30 pips and +105 pips on the second half. I did a screen shot of this trade last week but the video illustrates the point a bit better. Hope you guys enjoy the trade setup, here the link to it.

Live Forex Trade Video

-Sterling

In day trading unlike any other form of trading you have huge amounts of pressure to essentially "screw up". Often times we trade during the most volatile times of the trading day which in itself is very stressfull. The price swings can be huge, not to mention turning for what seems like no reason at all. Having said that there are a few things we can do as active traders to relieve the stress and through this increase profitability. Here is an article giving 3 practical examples. If there are any questions as to the trading techniques illustrated to this point feel free to ask as well!

A Successful Traders Mindset - Trading With An Edge

-Sterling

Going long here from about 1.3608 on the EUR/USD. Look at the daily chart on the EUR/USD great reversal candle to head up there as well. Also after the bounce this morning we just saw a retracement into 1.3600 which has been a big psychological S/R area. Now closing as a 30M reversal candle at support so for now looking good but with every trade we will see.

-Sterling

Closed half of the EURO long for +15 pips (right here) Moved the SL to BE and gonna let it ride for now, will update the last half on either a BE stop or the final TP.

UPDATE
Added a chart that shows the support that turned resistance providing a good entry for this trade. Still holding with the SL at BE still.

-Sterling

Great daily hammer candle formation closing on the GBP/USD. Also to be noted is the large doji on the weekly chart from the previous week. The two together is a recipe for the pound to continue to head up through the end of the week. We will have to wait and see but for now looking good.

Also, we are still long from 1.3610 on the EUR/USD from earlier this morning during the NY session. Tuesday on the Euro closed similar to the way the Pound is closing today, namely a large daily reversal setup. The Euro followed through to the upside and the GU should as well.

Here is a chart of the GBP/USD daily setup attached below and also here is a link to a chart I posted on the site going into the EUR/USD trade setup we took in the live day trading room earlier.

-Sterling

Here is a recap of a couple trades we took in the live forex room last week. Overall had a great week and turned +15% for the week. This video additionally goes over the strategies used for entry signals. If you would like to take a Free 10 Day Trial you will have full access to the live day trading room, hope to see you there!

Last Week's Trades

-Sterling

Currently we have a nice reversal candle on the EUR/USD to go long. This would be more of a swing trade type position but I thought I would mention it for those that like to trade the Asian session. Additionally we bounced off the 61.8% retracement of the last move up. Ive included a chart as well. Going to get some sleep, have a video of another strategy coming soon.

-Sterling

Going to be moving the stop loss on the EURO long from above to break even. Havenn't seen much follow threw yet and playing it safe is never a bad option.

-Sterling

Have you ever been in a position, you know its the right direction, you place an intelligent stop, but then what happens? The market moves quickly against you, stops you out by a few pips and then shoots back in the direction of your original trade.

Why does this happen and what does it mean? Well first of all what does this mean. We the retail trader know that even in masses we cannot move the market. So if we see a move like that what should it tell you? "Smart Money" is creating the move. And while we cant create the moves we can sure jump on when we see it starting.

So why would they create moves like this. Its quite simple "supply and demand" They know that by running the price past a previous major S/R level or previous swing high/low their running price into an area of huge supply (stops getting hit/people playing a breakout) and thus they buy all the supply, get a great price and the market moves back in the direction of your original trade....usually in a big way.

So how can you day trade profitably off this setup I call the stop run reversal? Well I made a video that goes over a few trades and how you can take advantage of this powerful move in your own trading. Hope you like the video!

Stop Run Reversal Setup - Day Trading Forex Live

-Sterling

The basic fundamental makeup of any down trend is lower lows and lower highs, and for an uptrend you will see consecutive higher highs and higher lows. This is a pretty standard definition of a trend and is something that is well known to most if not all that are day trading in the forex market. When trading, being able to recognize the first breakdown of this chart pattern gives you the edge and gives the the trader the opportunity to potentially catch a trend reversal setup.

Trend reversal's are powerful for many reason but lets just focus on one reason. They give you a great risk/reward entry signal, which benifits your overall money management. By placing your stop just below the lows or above the highs depending on the trade setup you have a very tight stop location, and if the trend does indeed reverse at that point the profit potential can be among the highest of all trade setups.

Below is a link to a video illustrating a trade strategy that can be used as a trend reversal setup or at the top/bottom of a retracement as a way to determine that the reversal is over and the overall trend is going to continue. This video applies the reversal strategy to forex day trading but it can be applied to swing trading, as well as position trading because the fundamental makeup of the trade strategy holds true for all time frames in the forex market, or any other free floating market for that matter. I hope you enjoy the strategy video and find it useful in your own trading!

1 2 3 Day Trading Reversal Pattern

-Sterling

At first we were just going to be running a seminar for members and then doing some question and answers at the end but last minute we decided to open it up to everyone.

I'm going to be going over a few strategies we use in the room a bit more in depth and looking back at some trades we took live this month that illustrate the strategies clearly.

This is more of a casual type of event where I'm just going to be putting ideas out there and answering questions about how I trade. Additionally I will be giving away a stand alone forex system that will help anyone, especially those new to the forex market jump start their trading!

When you click the link below and enter the password you will be asked for a name, this is just the name displayed in the room so feel free to use a fake screen name. In fact we will be taking no personal information here, not your name, email, nothing. As I said casual education for free.

The only thing I ask in return for our time and all the energy put into this is that you spread the word and the link to your personal trading buddies and ask them to do the same and that will be payment enough to us. We are many working toward one goal and I know the information will be of use to you.

The seminar is tomorrow Sunday the 28th at 6PM Eastern. The easiest way to get in the room is to copy the password below, then click on the link and paste the password in once the room pops up. We look forward to seeing you there!

LINK TO THE ROOM:
http://daytradingforexlive.omNovia.com/liveforexroom

PASSWORD TO THE LINK ABOVE:
daytradingtrial337

-Sterling

Hi all! Today in about 2 hours our day trading forex seminar will begin! We will be going over how I go about the start of each trading day, specific strategies that I use, as well as a complete stand alone system that you can use to jump start your trading career. Once again this is all free and you don't even have to enter an email address to get in the room simply follow the link below. At the end of there will also be an open question and answer portion where you can ask me any trading related questions that you might have. I have been trading full time for years and this is your opportunity to get any questions answered that you might have!

The seminar is today, Sunday the 28th at 6PM Eastern. The easiest way to get in the room is to copy the password below, then click on the link and paste the password in once the room pops up. We look forward to seeing you there!

LINK TO THE ROOM:
http://daytradingforexlive.omNovia.com/liveforexroom

PASSWORD TO THE LINK ABOVE:
daytradingtrial337

-Sterling

I would personally like to thank everyone in our live trading room for creating a great community of traders! Overall for the month we had a great month and closed the month with a +28% gain!!! I hope you all are enjoying the articles and continued education. I look forward to continuing to work with all of you in the room and having another great month in April!

Anyway here is another article I made about trend lines. Trading trend line can be a very lucrative way of trading, due to their reliability when traded properly. Here is an article pointing to 5 tips on trading them.

Day Trading Trend Lines – 5 Trend Line Trading Rules

-Sterling