eftc-week-3
DESCRIPTION
Pet D TradingTRANSCRIPT
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WELCOME TO THE
ELITE FOREX
TRADING COLLEGE
WEEK #3
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FOREX
STRATEGY #5
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Hypothetical or simulated performance results have
certain inherent limitations unlike actual performance
record: simulated results do no not represent actual
trading. Also, since the trades have not actually been
executed, the results may have under- or
overcompensated of the impact, if any, of certain market
factors, such as lack of liquidity. Simulated trading
programs in general are also subject to the fact that they
are designed with the benefit of hindsight. No
presentation is being made that any account will or is
likely to achieve profits or losses similar to those
predicted or shown.
DISCLAIMER
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WEEK #2
REVIEW
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FOREX COLLEGE WEEK #2
Strategy #4 Is Based On Concepts #1 and #2
Designed to Trade Quick Momentum Moves
Intensity Level (1-3): 2
Main Indicator Pattern Recognition Strategy
Any Time Frame / Any Direction / Any Market
Only One Standard Version - Quick Gains
Learn the FULL Strategy Paper Trade First!
The Specialists Edge - Consistency
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Hi Steven,
If there is 24-hour trading session, there always will be a period of time
when you are unable to trade. If one trades daily charts, next daily bar starts
at 6:00pm ET. The perfect example is a signal sent yesterday for Strategy
#4. EUR/JPY hit the entry price at 3:10am ET (approx) and then hit the stop
price at 8:30am ET. So during the night we would have the entry signal and
a stop-loss signal. So how can anyone trade that without
automated trading?
If we look at intraday trading, the night eventually comes and we suspend
our trading. But new bars will appear. New signals for exits of entries will be
generated and we will miss them. And the more important question - should
we take those missed bars into account?
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STRATEGY #4
50% RULE
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NIGHTLY
SIGNALS
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FOREX
STRATEGY #5
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Strategy #5 Highlights
2-Bar Pattern Recognition Strategy
Any Time Frame, Market, or Direction
Best Suited For Swing Trading
Average Trade Lasts 3-10 Days
The Specialists Edge Consistency!
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Strategy Indicators
50-period sma
Candlestick Engulfing Patterns
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BULLISH ENGULFING PATTERN
OPEN
CLOSE
CLOSE
OPEN
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BEARISH ENGULFING PATTERN
CLOSE
OPEN
OPEN
CLOSE
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Strategy Rules - Buys
1. Price must be ABOVE the 50 sma (Buy/Sell Line)
2. Look for a Bullish Engulfing Pattern
3. Buy 1-5 pips above the high of the Open Body Candle (Confirmation)
4. Place your stop 1-5 pips below the lowest bar
5. Exit on 200% range extension of Open Bar
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EXIT
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ENTER
EXIT
STOP
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ENTER
EXIT
+132 pips
STOP
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ENTER
EXIT
+132 pips
STOP
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Strategy Rules - Sells
1. Price must be BELOW the 50 sma (Buy/Sell Line)
2. Look for a Bearish Engulfing Pattern
3. Sell 1-5 pips below the low of the Closed Body Candle (Confirmation)
4. Place your stop 1-5 pips above the highest bar.
5. Exit on 200% range extension of Closed Bar
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EXIT
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ENTER
EXIT
STOP
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ENTER
EXIT
+110 pips
STOP
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ENTER
EXIT
STOP
+110 pips
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MORE
STRATEGY #5
TRADE EXAMPLES
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STOP
ENTER
1.2625
EXIT
1.2746 +121 pips
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STOP
ENTER
1.2625
EXIT
1.2746 +121 pips
STOP
EXIT
1.2987
ENTER
1.2871
+116 pips
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STOP ENTER
96.45
EXIT
95.62
+83 pips
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ENTER
1.5610
EXIT
1.5499 +111 pips
STOP
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ENTER
1.5610
EXIT
1.5499 +111 pips
STOP
STOP
ENTER
1.5657
EXIT
1.5813 +156 pips
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ENTER
1.5610
EXIT
1.5499 +111 pips
STOP
STOP
ENTER
1.5657
EXIT
1.5813 +156 pips
STOP
EXIT 1.5918
ENTER
1.5837
+81 pips
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ENTER
1.0349
EXIT
1.0334
+15 pips
STOP
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ENTER
1.0349
EXIT
1.0334
+15 pips
STOP
STOP
EXIT
1.0306
ENTER
1.0320
+14 pips
-
ENTER
1.0349
EXIT
1.0334
+15 pips
STOP
STOP
EXIT
1.0306
ENTER
1.0320
+14 pips
ENTER
1.0287
EXIT
1.0270
+17 pips
STOP
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ENTER
1.2960
EXIT
1.2973 +13 pips
STOP
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ENTER
1.2960
EXIT
1.2973 +13 pips
STOP STOP
EXIT
1.2999
ENTER
1.2975
+24 pips
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ADVANCED
TRADING
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HOW TO
EXTEND YOUR
STRATEGY #5
GAINS
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ENTER
+82 pips
-
ENTER
+82 pips
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ENTER
+82 pips
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ENTER
+82 pips
+345 pips
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ENTER
+81 pips
+187 pips
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STRATEGY #5
50% RULE
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50% Rule (suggestion)
You have the option to move your stop to
unchanged once price travels half the
distance to the exit point
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ENTER
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ENTER
ENTER
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ENTER
ENTER
ENTER
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ENTER
ENTER
ENTER
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Advanced Traders Can Exit
When Price Reaches the
200%, 300%, and 400%
Range Extension of the
Set-Up Bar
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ENTER
+120 pips
+243 pips
200%
300%
400% +365 pips
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ENTER
200%
300%
400%
+15 pips
+46 pips
+30 pips
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Lets Recap
2-Bar Pattern Recognition Strategy
Any Time Frame, Market, or Direction
Best Suited For Swing Trading
Average Trade Lasts 3-10 Days
The Specialists Edge Consistency!
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HOMEWORK
ASSIGNMENT
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IDENTIFY RECENT
STRATEGY #5 TRADE
LAST WEEK OF OCTOBER - GBP/USD - DAILY BAR
1. Buy or Sell?
2. Identify Price of Entry, Stop Placement, and Exit Price.
3. Profit or Loss?
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MY GOAL IS TO TEACH
YOU HOW TO TRADE
WITH THE
SPECIALISTS EDGE
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ELITE FOREX
TRADING COLLEGE
WEEK #4
STRATEGY #6
-
QUESTIONS [email protected]
1-310-844-7220
-
Hypothetical or simulated performance results have
certain inherent limitations unlike actual performance
record: simulated results do no not represent actual
trading. Also, since the trades have not actually been
executed, the results may have under- or
overcompensated of the impact, if any, of certain market
factors, such as lack of liquidity. Simulated trading
programs in general are also subject to the fact that they
are designed with the benefit of hindsight. No
presentation is being made that any account will or is
likely to achieve profits or losses similar to those
predicted or shown.
DISCLAIMER