MASTER YOUR TRADING PROCESS And The 12 CANDLE RULE
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- Опубликовано: 20 май 2020
- #daytrading #forex #forextrading #forextips #forexstrategy #simpleforextrading
#bestforextrading
MASTER YOUR TRADING PROCESS And The 12 CANDLE RULE
50 PIPS a Day Simple Forex Trading Strategy.
My 50 pips a day forex strategy - VERY SIMPLE STRATEGY.This forex day trading strategy is all about making 50 pips a day. This is not guaranteed in real life but its very systematic, the GBP cross pairs all move at least 50 pips of tradeable range everyday. The issues traders encounter in live time can interfere with them becoming consistently profitable.
Free isessions indicator: can be downloaded here. www.mql5.com/en/code/7753
Here is the "sweetspots" indicator forex-indicators.net/support-r...
Here is the Weekly Separator Showing Monday's... liveforexsignal.com/weekly-pe...
A moving weekly high low indicator for the current week can be downloaded with the
Yesterday's high and low...www.mql5.com/en/market/produc...
I hope you enjoyed today's Daily Pip Talk!
Are you struggling to be consistent with your trading? Get my FREE audio mp3 download "The 7 Step Daily Routine For High Performance Traders" at www.staceyburketrading.com/236...
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The Edgewonk trading journal can help turn struggling traders into trading professional traders. Grab your free trial here... bit.ly/2elrMHh
For more on trading check out:
Trading Commodity Futures with Classical Chart Patterns - Peter Brandt -tiny.cc/4boblz
Diary of a Professional Commodity Trader: Lessons from 21 Weeks of Real Trading... Peter Brandt ...amzn.to/2otOMGG
The PlayBook: An Inside Look at How to Think Like a Professional Trader...Mike Bellafiore...amzn.to/2w1GpGp
One Good Trade: Inside the Highly Competitive World of Proprietary Trading...tinyurl.com/vl7k2wt
Disclaimer: The purpose of these videos is for educational purposes only. Nothing associated with this channel or videos should be taken as advice to buy/sell any specific financial market. It does not take your personal circumstances or financial situation into consideration. I nor anyone associated with this channel will accept any liability for any financial losses related to any content posted on this channel. Trading is risky so seek professional trading advice before taking any specific trades/investments.
Don't quit guys!
Stacey, thank you brother.
Going to be a great year!
Holy crap. I've only back tested a fraction of what you're saying and it's giving me major ah ha! moments.
That's it Mana! Keep it going!
Can you advise me on how to back test this
@@RPMGMUZIK only place trades between 5pm-8pm, 11pm-2am and 5am-8am PST. GBP pairs. The Asian session will generally give 20 pips, London and me York session will give you 50 pips.
@@manaking2176 I'm central standard time so Asian would be 7 to 10 pm my time, london 2-5am and ny 7 to 10 am correct??
@@RPMGMUZIK I believe your London is 1am-4am
I didn't understand many of your other videos about this, but this video with examples at the end is helping me to clarify what you were getting at in your previous videos.
Thanks for this.
I'm working on getting better at conveying a simple message! :D Thanks for the feedback!
Love that idea... creating certainty in an uncertain environment...
Totally agree Robert! Cheers!
finally someone who let me read the market like it should . I made all those mistakes in the past and now i know why i was losing ... Great content Stacey Burke !
Stacey... You are our hero
Thanks Benson but we're all on the journey together! Just sharing what I've learned the hard way over many years! I hope it's helping your trading!
@@StaceyBurkeTrading Not many people are willing to share such information and that is why i call you our hero
Il second that 👌
Man has changed my trading journey
Wish I found him at the start instead of all the pointless shit I thought was great at the start.
Ah well better then never I suppose 👌
This is most wanted video that i waited from you Stacey , you made clear many points that i really needed to know. This trading styles clearly show how the dealer is trading and trapping the Retail traders. Cheers Stacey.
Cheers Chandana! Keep it going!
Now i hear you. Very clear. Thanks Stacey for being patient with us.
Just subscribed!!! Love the way you teach. Keep them coming
Thanks for the Brilliant break down....Thank you Thank you
Man you clarified alot. You are a genius. You have really proven that trading has nothing to do with what we have been thought that it is more psychological, patience and timing of what the market does before making the big move
i always trapped by 3rd hour, now i clear why. thanks alot best of the best videos
This is amazing, in some videos i get confused but this explanation is excelent, thanks stacey
Glad it was helpful Matias! Cheers!
one day I want to pay a visit to Staceys home I love my mentor guys
You too Malik! Cheers mate! :D
Thank you Stacey. Great content and so much easier to understand with the clearer charts.
Glad it was helpful Jon! Thanks for the feedback!
You are much appreciated brother! Having confirmation and breaking down the narrative is so important. You do a great job of teaching.
I appreciate that DC! Thank you
Great video
Have watched and taken notes from all your videos Stacey - they are all value. This one takes the biscuit
as the absolute best, essential 30 minutes of viewing relating to trading FX on Europe/US sessions.
How are you going to beat this effort maestro?
LOL...Cheers Gavin! Thanks for the feedback! I learn something new everyday!
Just discovered your channel by chance but I'm really liking this 12 candle idea I hear you say about trading only 6 pairs what are the pairs you mention
GBP crosses excluding the EURGBP Si.
Hello Stacey..thank you for this video..I am a new trader here . . And I want more to know about forex trading
Welcome Rosela! Thank you
Thank you so much for your time and effort Stacey. I like your teaching style and thorough explanations. Im watching several videos per day and it's sinking in...having fantastic success...once again ty so much
Glad it was helpful! Great to hear Michael!
Wow😲😲😲!!!
I'm learning a lot for your content 😊 😊 😊
Thanks u sir. 🙏🙏🙏
So nice of you Wilfried! Thanks for the feedback!
The best vidéo 👌👍🏻 Thanks for all
Thank you too Boris! I appreciate your feedback!
Cheers Stacy. Thanks .
You’re welcome Mike!😊
Stacey is the 12 candle window for every session of the 3 hours or (12 candles) 5 per session that adds up to 12 candles
If I am not mistaken you'd use the 15 minute chart and monitor the pair you are trading every hour to see what the market is doing. Four 15 min candles equals an hour so basically in that hour you are wanting to see if a breakout occurs, stop hunt or nothing. If a stop hunt occurs which is usually 25 pips then the Second hour is where the trade of the intended move will take place in which in the 3rd hour you should hit tp or see how far you are from the high or the low. If there is a breakout in the first hour then that means in the second hour it could be a trade or a trap. If it is a trap in the second hour then in the 3rd hour is where you will trade. But if in the 1st hour nothing happens then wait for the second hour to see if there is a breakout or stop hunt. Usually if the stop hunt doesn't happen in the 1st hour, there will be one in the next opening session
I am finally getting it! Now I see why you don't use indicators. You really don't need them if you understand the trading process well
i was traped yesterday ,saw afalse m formation had to sit there hoping n wishing the 12 hour rule is amazing, thanks
It happens! That is why timing starts to become such a focus, you start to see how they manipulate price action within the hour and even in the last minute of a candle.
Absolutely top class
I appreciate the compliment and feedback Misterbe! Cheers!
Professor Stacey Burke thanks for the info once again.
You bet Jim! Cheers!
Fantastic video stacey
Thank you Ihsane!! 😀
First of all thank you so much for all the value you have been adding to so many people. That includes me! I watch over & over with my chart open trying to see and apply what you teach.
One question remains though. You talk about the market manipulation (dealers) as if they were one unity. Is it what you think? It makes sense but it seems to contradict the famous notion of a war between bulls & bears. Your understanding is more like a war between us & them. Thank you again Stacey. Regards from Florida.
Thanks for your feedback Paulo! It is definitely "us against them!" No doubt about it. But...we can piggy back on their trades! ;) Don't think like 90% of retail traders!
thank you again for the great staff !!!! so is okay to solely base your trading and confirmation from the 15 min chart only
Absolutely! Reduce as many variables as possible and master that process Crazy!
hi stacey,i want to validate if you are using the 12 candle rule to enter a 50 pip target trade. meaning you observe candle action on those 3 hours to find the a good entry for the move withiin or beyond the 3 hourss OR use the 12 candle window to find an entry complete the 50 pip target(more or less) then call it a day after that 12 hour window.
I typically will target 50 pips. That said every trade is based on it's own merits. If I get 50 in London, it depends on how the market is trading. If it sets up great at the high or low of the day going into NY I will trade that also. If you have a great trade setup, trade it when it's there. I am also very conscientious to not give anything back after a good trade. :)
Got to love finding someone who can explain things in simple terms.
Simple ideas on a white board thanks buddy
Quick question! Do you use any indicators SMA MA fib volume? Or do they just complicate things?
Great video. Just to clarify the time for each session that you are looking at (since Im in Sweden timezone and we have some Daylight saving settings). The London and NY session are 12 candles starting with 4 candles before the market opens? The first hour(4 15 mins candles) is premarket for NY and London Session - correct? What about the Asian session? If you refer to numbers of hours into the session - at what candle after opening of Asian is the first candle of the 12 candles? Sorry if these questions are dumb, but Im pretty new to this 12 hour candle process.
Hi Stacey, just started watching yr videos, but can’t find the back ground chart, do u have the name for it and we’re to get it from
Hello Stacey, I am struggling to understand the 12 candles rule. Where exactly are they supposed to be i.e. where, when and how do I count them? Hope you see my comment and respond.
@21:38 Stacey, this style where you didn't even consider the weekly template and directly jumped to a day, is this a different style you used to trade? Here you don't mention Day count....
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Hi Stacy When you mention about high and low in the first hour are you basing the high and low of the previous session? For example you're trading US session and you're looking at the high and low of London session if stops are triggered or not.
Watch today's video Ray! Great question! Thanks!
Can I please get the answer from your question.
@@goodvibes7614 I far as I know the high and low of the day are the sum high and low of london and US session
What timeframe is this?
Can Fibonacci Retracement be used for the breakout?
I can't tell you that Dr I don't use Fibs, you can test that out.
Is it okay to follow solely the high or low of sessions or of the day?
Absolutely but if they move the market outside of a range redraw your highs and lows. Great question thanks!
@@StaceyBurkeTrading Great thanks
Which timeframe is this chart ???
15 min
when to enter IN TRADE STACEY
After the stop hunt, you will get an engulfment or a hammer, sometimes both Kumar.
@@StaceyBurkeTrading thanks sir i was getting there by watching your video again and again
@@StaceyBurkeTrading For your last example, would I basically enter at the end of the shift candle? I tend to chase pips and try to get in early as I struggle with seeing the bigger picture drop in real time and feel like the box is already big with not much room left to move. I tend to place my stop 50 pips from the highest point in the box as well to secure pips and would often exit with 30 this way.
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