Scalping XAUUSD without failing a single account? FTMO Trader shares his strategy! | FTMO
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- Опубликовано: 27 май 2024
- Become our next FTMO Trader and trade up to $200,000 on FTMO Account: ftmo.com
Since our Malaysian FTMO Trader Choon Chiat started trading with us in June, not only has he passed his very first FTMO, he never failed any account at all.
Chooin Chiat is a passionate XAUUSD scalper, and his strategy already brought him over $30k in profits. This strategy has been working for him for about a year, and he explained it to us in detail in our latest interview.
Chapters:
00:00 Intro
01:29 How Choon Chiat Started Training
04:53 Why Trading Gold [XAUUSD]?
08:22 Trading Breakdown
15:28 Does His Strategy Work on Other Symbols?
19:16 FTMO Account MetriX
23:18 Trading Psychology
29:54 Advice to Beginning Traders
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Disclaimer: All information provided on this channel is intended solely for the study purposes related to trading on financial markets and does not serve in any way as a specific investment recommendation, business recommendation, investment opportunity, analysis, or similar general recommendation regarding the trading of investment instruments. The content, in its entirety or parts, is the sole opinion of FTMO and is intended for educational purposes only. The historical results and/or track record does not imply that the same progress is replicable and does not guarantee profits or future profitable trading records or any promises whatsoever. Trading in financial markets is a high-risk activity and it is advised not to risk more than one can afford to lose!
This is a perfect example of how it doesn't really matter for your strategy to be over complicated to work!!.Well done buddy really enjoyed your interview
Really loveable character!!
In fact none of the scammer SMC 1:100 RR traders ever make it to ftmo interview or leaderboard (in 99% of cases)
@@human_hope I have seen plenty, some are from malaysia as well.
You made Malaysia proud 🇲🇾 ! You being so down to earth journey in the mental side of trading, I love your sharing
Amazing, no clue about how it could work on other markets, yet still consistently profitable. Good job homie!
I enjoyed every bit of this interview..Weldone!
22:30 Buys more profitable because gold on a uptrend
Excellent skills bro!!! 🔥🔥🔥
So basically wait for crab market after 'big boom', draw 2 lines, entry (10 -30 lots) when it hits 1 of the lines, tp sl 1:1.
When it works, great. When it doesn't, take a rest and play dota 2, trade tomorrow.
Got it, ooga booga strat works
He has 6 years of trading and probably more than 4 scalping Gold. Am 9 months in and i have reaclise nothing beats experience in this game
5k+ hours watching candles develop and it becomes easy regardless of strategy. Hardest part is mastering the mental game and avoiding prop scams/getting paid.
Thank you buddy been experimenting with RSI on AUD 15m it works
15 mins and 5 mins? Also do u know how to use bollinger band to your advantage in the above trade?
Good luck bro !!!
I just catched up what he does might be entry for retracement after trend finish.
Thanks for sharing
Interesting and informative 🇯🇲
Good luck 🎉
My nigga trade consolidation while majority trade trending market nd he kills it😂
Hey Bro Choon didn't u consider full time trading since u got decent profit, u don't have to work for someone? I'm curious
any chance of getting in touch with this guy to learn? I want to pass my ftmo too!! lol...
what type account of he hold and what size of account?
Great interview but like many other commenters, I fail to understand what Mr. Chiat was saying. I understand about the 30 minute and the lines but at the 5 minute it's not clear what he said. Check the comments, I am not the only one...
My favorite word OVERSOLD
How to contact choon chiat ?
Good day. Does FTMO teach how to trade forex? If you teach, how can you connect to learning? thank you
Hello @yevhenbabiichuk2155,
Please check our FTMO Academy at: academy.ftmo.com/
Thank you for your question, and do not hesitate to contact us again.
what does he mean with 'boom' when he talks about the upper trend line that he draws.
Does he mean the last moment when price went outside the upper line of the bollinger band?
Or does he mean the most recent moment when price touched the upper line of the bollinger band?
and the retracement, does he mean when price reached the middle line of the bollinger bands?
I think he’s looking at when price shoots up/down leaving an imbalance
Bull not boom
Choon Cheat, Can you upload a video where that explains more elaborate about your strategy please?
its pretty easy mate,,hes using a mean reversion strat
Does he have RUclips channel
how can we contact these traders?
ftmo interview is back ! yes!
Could someone comment. At approximately 9:14-9:17 when he says he will draw 2 lines. where is again he narrows down to draw the 2 lines?
I'm not a pro, but I'm guessing those are his support and resistance guides. the support is made up of recent low points and the resistance set on recent highs.
@@_Kknox thank you. Appreciate it. 🙏🏼
Um, maybe some kind soul can help me:
What doe dhe mean by boom? I feel like dunce but I absolutely do not understand what he meant by that even when I look at where he drew the lines on the chart...
he's saying BULL...
Gold scalping King. He is smart guy
Sifoooo, please teach me!!
best one good luck chan chi
nice!
yo man saying 200 pips, it's 20 pips
On FTMO 200 pips is the same as 20 pips in other brokers. I struggled to adopt at the first challenge because of the difference
In fact xauusd pips are like 200 points equally to 10pips on others currencies like Eurusd.
7pips on Gbpusd is equivalent to 140points on gold
Just for clarification
Not exactly, but good approximation like gravity =10
So many people misunderstand pips vs points. Also, some brokers use them interchangeably.
As long as we know our own risk management/
lot size, it matters very little what someone calls it.
Lol
how about calling it in dollars and cents? @@leahtradesforex
Does anyone know this guys social media handles?
Why is ctrader not available for me in usa?!
Hello @tuhairweronnie7385,
cTrader is only available for the FTMO Challenge. If you have any problems, please contact support: support@ftmo.com
Thank you for your question, and do not hesitate to contact us again.
Its actually 20 & 40 pips not 200 or 400 pips
the interviewer's brains working on overtime trying to understand hhaaahhahahaha
hahaha... I agree. The trader certainly didn't put it out very clearly...
yeah, I'm also scalping gold since 6, 7 years... same strategy, etc. 😎
Do you know you can be earning good compound bonus profit trading every day?
Hello Mr
@@EmilyLaCamera scammer much?
hey, this strategy have a name or smth to search more about it?
Can you actually explain the strategy?… I understand until he gets to the 5 minute chart… what do you look for?
I am confused. what is he basing his horizontal lines off of?
These are support levels, support levels can tell You A LOT, also, there are patterns in which markets sometimes, not always, but sometimes, move.
These lines can help track the movement. And You want to draw them at the highest high level and the lowest low.
For the best results 2 on the day before, and 2 on the day You trade.
No wonder you're confused. This video seems like a complete joke.
Why did you guys Ban Andrew NFX? Everyone should be aware of this!
I love xauusd
So proud of him nice 👍
Broski on the left looks fried
nice
Proud of you from Malaysia!
BIG BALL SCALPER
10 lots per trade?
200 pips does he mean 20?
How the hell do u scalp with such high spreads
What does he mean he starts off with a boom?
Bull not boom
Interesting! Thank you 🙏
Does anyone have his social media handle please?
Well, do you think he will disclose all his trade secrets in a public interview? A good trader has multiple trading strategies and maybe this is just 1 from 30 good strategies.
The secret is there is NO SECRET!!!!
Sure... The recipe is that there's no recipe...
@@NCE180he’s just a range trader. 30 min higher time frame, 5 min entry/exit
@@IceDogXenahe is yes but you still have to get it right… otherwise anyone can be a range trader and make money.
Ya this is a clear con, FTMO has such unfavorable conditions, but this guy will make podcasts and make ppl believe it’s legit. Fk right off
Nice Interview and very nice nice strategie Chooin Chiat
So capturing 1 - 2 pips with lot size of 10 and making $2K per trade.
Does this trading strategy make sense to anyone?
no it doesn't to me
Does it matter?
The point is, any strategy can "work". Its far more important to manage your risk and stick to your gameplan. You have to be okay with every single trade you take hitting your stop. Otherwise you're just taking random shots in the dark.
@@ShorlanTanzo agreed. Risk management is key in successful trading and the fact that he doesn't talk about it but instead focuses on getting the profit is a little concerning. There's a very wise quote from Jack Schwager who said know how to get out before you even get in
It makes total sense. He's trading the range between the support and resistance levels. Markets tend to be ranging more than they are trending.
What is the name of the indicator on the platform tradingview (binger) !
🙏🙏
Bollinger band
Bollinger bands and Rsi
@@Idontknowww97 thanks
Very Malaysian Slang, boleh boleh
Why you don't continue review failed challenge like before
Bc dude is running a scam website, it’s quite simple
Brilliant trading strategy... may the pips be with you 🙂
First❤
Master the order flow 🧠
How
Am i the only one seing break of structure and retracement back to the structure? Like for real, i see like 4 trades profitable with a 1:1 1:2 RR minute 12:18 chart 😢😢😢
Can`
t tell me the iterviewer is sober hahahah
Broker is a broker, same day with another day either yesterday, today, tomorrow and future day. They see your trade, they pay your profits, they know you, they applaud for you, they compliment your win.
But they will fcuk you someday.
For them not to fcuk you, trade and withdraw your profits wisely.
To my fellow Malaysian, hats off to you. Im proud one of good trader came from my country.
The interviewer is almost falling asleep 😅😅😅
Great video, thank you for sharing 👍
Session = sassian? Got it. Haha funny accent. Well deserved my friend. Stay consistent.
The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional like I did. If you get the facts about saving and investing and follow through with an intelligent plan, you should be able to gain financial security over the years and enjoy the benefits of managing your money.
As a 5 year experienced trader, i don't beleive this, cause this is fake, even this is not a strategy. and this is not serious at alll. trading is a serious business.
I mean if it works it works. I feel P&L speaks louder than strategy
why u stop indonesian traders?
im completely lost. Is he purposely not giving any of the key information away? no way he is profitable trading like this.
I went and back tested this basic range trading approach and lost 4/5 trades haha
This strategy hurts my brain.
Alpha capital has tier 1 feeds which cant be altered
I'd like to join your discord, but it is impossible for me. Please make verification easier. I did not delete the discord from my old phone, so i can not verify the phone. Although i receive the code, it doesn't let me paste it.
Same Strat with me.. but my patience and discipline still not there 😅 this Strat makes you more greedy.. flipping accounts in a day but without discipline you’ll blow your account like me😄
Hi can you teach me this strategy in detail?
how do you know which ones to trade? or do u just look at the patterns whether u trade gold, indices, forex, etc?
That comes only with experience and analysing your loosing trades daily on multiple time frames.
You know by learning the skill set.
how can you scalp 1:1 considering commissions and spreads?
his win rate is like 70% He's fine
The trick is also his risk management. If you see his winrate is 70% ish but his Tp is su usually around .7R… that can mean that he takes trades slightly above 1 R or slightly less than .7 R to make that .7 be the average…. Meaning he likely knows when to close a trade before it reversed and also he mentioned he cuts his losses short. This is KEY for 1:1 strategies otherwise you’re just BE at best. Watch nick Shawn on RUclips he explains the 1:1 in a great way
@@Darknight0000ya but when you factor in time he’s getting absolutely destroyed, FTMO is definitely bullsh*t
Xauusd only take spread. No commision. Cmiiw
6 years experience and didnt even research other markets which takes few hours, this dude ist completly cap
😂😂😂😂
Lol both these guys are clowns. Such scammers, FTMO is garbage site
"There's nothing but Gold", sounds so rich 🤣
1975 -> 1973 is 20 pips... not 200 pips haha
So, essentially hes waiting for a string push, either up or down, and then a sign of consolidation.
What he somehow forgets to mention or simply is not aware of, is that price has entered a range of previous consolidation after a sweep or drop, base, rally creating market symmetry
So basically is he only trading the range… where is where the price continually goes up and down in the same areas for a bit of time?.. but if there’s suddenly a break out and the price trends then he might lose big.
@@wrestleciz6345 TBH, I wouldn't trust anything this guy says.
Sounds shady as hell. I did a backtest with the rules provided and it just doesnt add up.
I backtested it too…. But it wouldn’t work if you had to wait for price up touch the lines he drew in order to take the trade opportunities. Instead I found that you still do what he does and then when you go to the 5 minute chart… you place a sell or a buy trade when the price hits the side of the bollinger band.
Therefore he has the stop loss @@wrestleciz6345
$2 movement = 200 pips 🤔
He had the skill
$1 = 10 pips
FTMO or not
no it can be 10 pips = 10000$ and it can be 20 pips = 10$ this is measure for what lot size using
6 years of doing nothing. this cant be real.
you have to meet the guy
@@iattractlimitlessprosperitydo you have his social media account?
No female hosts?
The trend is not his friend, hahaha
Great Interview! "Trading is the hardest way to make easy money!" But once you learn the skill you can and will change your life!
Well, I must say that people are afraid.
there are so many
non-professional runners out there.
Most people today have been having a lot of failures in forex and crypto because of poor orientation and bad experts.
Having monitored my portfolio
performance, a has made
me a jaw dropping $370k from just the
past two quarters alone. I have learned
why these experienced traders make
enormous returns from the seemingly
unknown market
So you guys know her too?....
Wow she made my husband and I ha
our own house and car.
She is good!👌
I don't usually do reviews but Earning x3 of my monthly salary from Mrs Rita Orlando trading services in just a week is
overwhelming
Congrats to our fellow Malaysian, proud of you. Keep up the good work. I'm a funded trader too.
hi bro, after MFF I've been so skeptical. How is our experience with FTMO so far? I want to sign up but I am afraid they might disappear too. I had a 14.3k payout on the exact day MFF disappeared. It was to be my first payout from from that account
@@snwyn hey man, sad to know this happened. As long as greed is still there, many unfortunate events regrettably might happen. You may start with free trials from FTMO first. I don't have data to comment on FTMO's reliability, it's best that they prove themselves sustainable for long-term.
So when the price boom boom wtf 😭 this guy is very not a expert😂
This guy is only trading for 4 months with ftmo and getting interview? is 4 months enough to proof consistency lol??? anyone can say they were trading for 10 20 years before that but its not like they or ftmo showing proof of it here... ftmo needs to set very high standards on who they interview. i wonder how many traders who ftmo interviewd still has their account with ftmo?
Bro he has 4 acc with 70%+ wr and consistency of 86 he’s a fucking pro what are you talking about 😂
bro watch the interview. He said 4 years not 4 months.
They have tricked you into trading more pairs...they want you to lose the account .
Stick to one pair Bro.
stick to what is already proven. Some strategies work well on certain pairs and less on others
Couldn’t even understand him
The war happening with Israel and Palestine is drastically affecting gold right now hence why it’s on such a big bull run. Right now isn’t the safest to sell gold but better to buy
Yeah mate. Go do just that on a funded account and pull out the same withdrawals.
Why can’t people appreciate a good trader ?
@@I_Am_Demo_Baller_Trader People do all the time. I did.
As an American , we unsubscribe.
Sucks to suck… if you bought a challenge before hand they still serve us… best company out
As an american
(Check out funding pips)
I hate scalping but it’s nice to see other have success with it I hood my trades for hours even days the gold move was crazy mad missed that natural gas big gap up like I knew it would 😩 I’d be ballin rn
scalping is when you know the trader is actually good at reading the marklet.
For me there is a ladder of evolution, first newbies scalpers that don't understand market trying the 5M chart, 1M chart, this can be some months, a single month, or several years. The next level after many punches, losses and pain is discover the 1h,4h signals and confluences, understand that market is fractal and how the timeframes perfectly connect on minor and major levels as the Russian dolls or a onion. From this many guys will prefer just sit here, set and forget, less analysis, more confidence, less exposition, decrease trades quantity, but also need to hold trades overnight, for 3days to get the profit. Then the next level, the guy who lived both, and now understand that he needs high time frame signals and confluences with 15M medium timeframe to enter on 5M 3M time frames, or even 1M if you have a insanely big monitor. Now you understand that the move that you got on 3 days, had a "cherry" on the first 3hours,and if you zoom in more the cheery on the cherry was 50mim, because market has legs (waves of trend) and retraincements (waves of correction) like Elliotts theory or even Daw, then if you will surf a leg on 1h chart and it will endure 8hours.
On the 15m chart this big leg is a fucking trend, with the largest leg during just 1hour
On the 5M chart this 1hour leg is a trend, with the leg being just 25minutes.
Só you just need to enter this 25minutes to eat the cream d"la cream, the wagyu beef or rose salmon you don't need all the other garbage corrections.
This guy that are a scalper can study many more ways to short down not good trades, or adding to food trades, aka pyramiding and in those 25min this guy makes 5-10% on just a single trade and the swing trader dude spend weeks to get there.
But offcourse are paradigm shifts, there are people who will be trapped for decades on the first newbie scalper level. My advice, if he uses rsi, bands, macd if it is just for "awareness" ok, but if he trust and get honest signals from these indicators, he is a newbie on first level. Pro traders don't look for candles, indicators, they look for waves, zones of supply and demand, trend continuation or trend reversals. This is the history since 1880 when some genius started to study the financial markets. But if the odds are in your favor and you are really a pro on managing risk and profits on opening positions, you can get signals from your dog or a random monkey and still be profitable. Winners watch to their losses, their rusk, just newbies focus in their profits 😂😂
I still scalp, but, making 10+ trades per day, is much more mentally fatiguing and also makes you more susceptible to tilting (more trades = more chance to make mistake and get upset). I presume the best scalpers have mastered their psychology to a greater degree than other good traders and are not susceptible to revenge trades.
@@Wavetheory85 yeah
@@Wavetheory85 I only scalp on xauusd and try to have at least 1 entry a day, because psychology is too important for scalpers, 1 good and precise trade is all you need
(I take trades in 1 minute timeframe)
I’m still on phase 1 of my FTMO challenge and I also trade gold but on the 1 hour time frame. I tried scalping on the 5 minute chart but I could never make money consistently. I’ve been doing well but the last few trades I’ve lost because XAU has been choppy the last couple days :/
Don't trade gold on smaller time frame
He already mentioned he only risk for every trade for 10 bucks . So always think about your SL
@@kingsam1gh I trade at 1 Minute on Gold, it is all about how good you are at scalping and need time to learn trading at smaller timeframs cuz they differ from higher one , I make 200 points, 1:2RRR
Same I'm phase one , mainly gold its mad how much it's gone up lately , but still take losses lol even on buy trades
@@faridulislam969 10 lots not 10 bucks
Congratulations Choon Chiat, it is by far the nicest strategy, actully while analyzing i have seen such cases, but didnt really give it a shot, will probably try your strategy. Good Job
Do you understand his strategy?.. I’m a bit puzzled… so he waits for a trend to happen and pass on the 30 min chart and draws two lines where the recent price touched the low and the high. Then he goes on 5 minutes but I don’t understand what trades he actually takes.
@@wrestleciz6345
𝗜𝗻𝗱𝗶𝗰𝗮𝘁𝗼𝗿 : Bollinger Band and RSI
𝗠𝗮𝗿𝗸𝗲𝘁 : Ranging Market
𝗜𝗻𝘀𝘁𝗿𝘂𝗺𝗲𝗻𝘁 : Gold
𝗧𝗶𝗺𝗲𝗳𝗿𝗮𝗺𝗲 : 30m for the Bias , 5m for the entry
𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆 : Bollinger Band Mean Reversion / Bollinger Band Bounce - price touches the upper or lower BB and returns to the moving average in the middle , RSI extremes for added confirmation for entry
𝗥𝗶𝘀𝗸 : position sizing 2% per trade , USD 2000 for the account size : USD100000 , minimum 1:1 RR ,20 pips stop loss, 20 pips take profit / the strategy is high risk but because of the big lot size i.e.10 lot per trade , he can make money with a small 20pip-price-movement that occurs frequently in a very volatile instrument like Gold
But he might practise the strategy long enough to confidently trade and gain profits consistently i.e his secret sauce Kudos to his patience and discipline.
Analogy : Bruce Lee's 10000 kicks quote :)
Sometimes a simple strategy like that is enough to make consistent profits in trading. We don't need some fancy strategies or complicated concepts.
It works . He is the proof.
While the price is fluctuating between the support and resistance, there's plenty of cash to be made on the 5 m or 1 m but it's stressful. I also find it a challenge to set proper SL. Otherwise good approach.
Any chance to get your details Mr. Choon Chiat?
Cheers.
@@paulcharles3484 yes there can be a lot of money to be made during that period where the price ranges and goes up and down, but you have no idea when it will suddenly trend again so it’s just a gamble.