The 1 Trading STRATEGY I WISH I knew as a Beginner

The 1 Trading STRATEGY I WISH I knew as a Beginner
Spread the love

In this video, I’ll be sharing the one trading strategy that I wish I knew as a beginner. This strategy, known as the break and retest, has been instrumental in helping me achieve substantial profits, and I’ll walk you through the process step by step.

Before delving into the live trades, let’s explore the basic components of the break and retest strategy. I typically use the 1-hour timeframe to identify trends and set up support and resistance levels. In an uptrend, I look for buy trades, and in a downtrend, I focus on sell trades. Support and resistance levels are crucial, and I mark them based on key price levels and recent market structure.

The essence of the break and retest strategy involves waiting for the price to break a significant level, followed by a retest of that level before initiating a trade. To illustrate, let’s look at a live example where the price breaks a level, undergoes a retest, and then continues in the direction of the breakout. I emphasize the importance of combining this strategy with specific entry and exit points.

Now, let’s dive into a live trade where I made over $33,000 in a week. The first step is recognizing the prevailing downtrend and setting up support and resistance levels. I identify a minor resistance level within a larger range. The strategy involves waiting for the price to break this resistance, retest the level, and then push downwards.

Particular Trade

For this particular trade, I took three positions, each with its own set of profit targets based on prior price action. I also placed my stop-loss above the range to allow for some flexibility in case of a retest. The trade unfolded successfully, hitting all three take-profit levels and yielding over $33,000 in profit.

It’s crucial to emphasize that live trades are not always perfect. In this example, the price initially went to the top of the range before reaching the profit targets. To mitigate potential risks, having a stop-loss strategy that provides some breathing room is essential.

To replicate these successful trades, I recommend using the Hano Trade brokerage. With tight spreads and favorable trading conditions, it increases the likelihood of winning trades. Registration with Hano Trade is free, and you can find the link in the description.

In summary, the break and retest strategy, when executed with precision and attention to key factors, can be a powerful tool for traders. If you’re eager to enhance your trading skills and maximize profits, incorporating this strategy into your approach is a valuable step.

I hope this video provides you with actionable insights, and I look forward to helping you become a more profitable trader. Don’t forget to like, subscribe, and leave comments about what topics you’d like me to cover in future videos. Now, let’s move on to more live trades and continue our journey to financial success

Retest Strategy

In this example, I’m introducing a variation of the break and retest strategy, focusing on a price channel. Instead of waiting for a breakout and retest of a specific level, I identify a price channel and look for a breakout and retest within that channel.

For instance, in a downtrend, I set up a channel, and when the price breaks through the channel and retests it, I place a sell stop to enter the trade. The stop-loss is positioned above the channel to allow for some flexibility, and the take-profit is targeted at a key level within or near the bottom of the channel.

In the live example, the trade results in a quick scalp for 8 pips but generates $2,000 in profit. It’s essential to note that the strategy doesn’t always yield perfect outcomes, as the price may experience fluctuations. However, having a well-defined channel and strategic stop-loss placement helps mitigate potential risks.

Moving on to another example, I demonstrate how to apply the break and retest strategy to the USD/JPY pair. By identifying a range and subsequent breakout and retest, I enter a buy trade. This trade results in over $6,000 in profit. The 5-minute timeframe reveals the intricacies of the trade, highlighting how close it came to hitting the stop-loss before moving in the intended direction.

The US30

In the next example with the US30, the strategy is employed to capitalize on an uptrend. Setting up a range within a larger range, I look for a breakout and retest to initiate buy trades. This trade nets over $10,000 in profit, emphasizing the effectiveness of the break and retest strategy in a clear uptrend.

However, not every trade is successful. I showcase a gold trade that resulted in a loss of a couple of thousand dollars. Despite setting up levels effectively and getting a perfect retest, the price eventually moved against the trade, leading to a loss. This example highlights the importance of risk management and accepting that not every trade will be profitable.

In conclusion, the break and retest strategy, whether applied to specific levels or price channels, can be a powerful tool for traders. The key lies in thorough analysis, precise level-setting, and strategic execution. Learning from both successful and unsuccessful trades is crucial for continuous improvement.

I encourage you to leave comments, questions, or suggestions for future topics. If you’re interested in more insights and trading discussions, consider joining my VIP room, where traders are experiencing consistent success. Stay tuned for more valuable content, and I look forward to helping you on your trading journey.

admin

Leave a Reply

Your email address will not be published. Required fields are marked *