There are criteria for levels which a student needs to learn and this is possible in few days, in fact for an already experienced trader they already know how to get them. While you may not initially intend on doing so, many traders end up falling into this trap at some point. This is because it only takes one adverse market move to drive the market far enough and trigger substantial losses. It's based on the stuff going on behind the scenes to create certain patterns. I needed something simpler than what I was doing. Whether you are an experienced trader or an absolute beginner, finding a profitable forex day trading strategy or system is complex. Great people awesome training I highly recommend it to anyone who has been a forex trader or would like to become one.
Our primary method of tracking and trading forex market manipulation is the confirmation entry along with pre-selected manipulation points. The nice part about this strategy is that it gives traders a mechanic rule set from which they can judge each setup.
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Thanks for the question, Ojay. That was a while back. Most of the other members are trading several other pairs. They have months where they make more than I do, and they also have months where they lose more than I do.
You can message me on Facebook: Thanks for the review. Does this system use any indicators? I never see an edge in using them. Thanks for the comment, Dave. There is an indicator, similar to iSessions , that you can use if you use MT4 to visually display the important trading sessions on your chart. This can be pretty useful — especially for backtesting. Any day ADR will work.
However, he trades the NY session as most American traders will. I tried the London session when I first started. Now I trade the NY session. From your personal experience, are you able to trade this method independently without relying on any support from the trainer or fellow students?
How long will it take before you are independent? From the Youtube videos, I am unsure if Sterling calculates his returns based on actual trades he made during the US session or all available trades for both sessions. From your experience, does this method require you to take all or most trades in order to maintain the edge?
Some methods are so finely balanced that you need to take all or most trades to get the edge while others offer more leeway. Sterling has been trading for more than 17 years. He has more wisdom to offer other than the rules of his system. Based on my experience trading this system in the NY session, I would say that you can expect between 10 and 15 trades per month if you only trade the Euro and Pound. During a hot period, you might get more.
Obviously, trading more pairs will give you more setups. The low ish number of trading opportunities is a direct result of filtering out bad trades and only taking the best setups. Yes, you need to take every trade — especially considering the number of trading opportunities. Every mechanical system is like that.
If you commit to taking setups on the minute chart during the NY session, you need to take every setup. In order to really let your edge work out over time, you have to be consistent. Anything else is gambling. That was quiet an explaination of the system. You talked about the average gain in terms of percentage can you please elaborate it a little more in terms of pips gained an risked per trade and per month? We risk 20 to 25 pips to make 40 to 50 pips respectively — depending on the situation.
As far as gains are concerned, talking about profitability in terms of pips is pointless. For instance, a swing trading system will give you more pips because trading moves on the daily chart means you risk more pips and target more as well. Hello now is july first isit still possible to get the discounted price? Are you able to teach through webinar?
Sometimes he just gets busy and forgets. There are many ways to make money in the Forex market. Trading stop runs, as we do in DTFL, is just one way. With the DTFL, what can be said to be the recommended minimum starting bank? With your experience what would you recommend for starting small? Can one hit the ground running with the DTFL or must take say a month or so of training before commencing live trading?
I may not necessarily be rushing but I believe some should be in a position to move faster or is it time consuming to learn the strategy? Everyone has to start somewhere. That means your broker will trade against you and hunt your stops because they expect you to lose anyway.
After all, if you were a successful trader, why would you open a trading account with such a small amount of money? Also, keep in mind that using starting account size for B booking is just a guide.
You can also be moved to the A book with a smaller account. It all depends on how well you trade. Even then, you should start by risking as little as possible. You do this to prove to yourself that the system works.
Most of us had to try a lot of bad systems before we found DTFL. Just ask plenty of questions. I also love that bit on Brokers grading one into the B group. Sometime you need to start small before being comfortable with a strategy.
Can I hear from you very soon? I can only speak for DTFL personally. Hello sir, i am interesting in DTFL. Because i do not know DTFL how to trade? DTFL is not a robot. The DTFL system will work with any broker and any size account. Thank you for your review of Day Trading Forex Live. I do have a couple of questions regarding the course.
What are the advantages of this course over the one? As far as strike-rate goes, it depends. DTFL uses one trading method, basically. Top Dog Trading, on the other hand, teaches several trading methods. Some of them, like the scalping techniques, will usually have a higher strike-rate than DTFL. Top Dog Trading is a more complex system. To compensate, you will most likely trade many different currencies and time frames.
That will, of course, add to the complexity of the system and the screentime it takes to trade it consistently. With Top Dog Trading, there is no ongoing training, unless you pay for it. Even then, you get a few videos emailed to you each week.
Contrast that with DTFL. You trade only two currencies you can trade others. You only trade on the minute chart and only during certain times. The charts are very easy to set up. There is a member chat full of active traders some of which are very experienced to help you get up to speed and with your daily trading. There is a sense of community because you all take the trades together in the chat.
The trades or lack thereof are reviewed at the end of each day, and the new levels that will potentially be used the following day are discussed.
On top of all that, there are two live trading room sessions each week during the NY session. There you can ask any questions you may still have and take trades along with Sterling live.
I learned many valuable lessons from that course that I still use today. However, if you can only do one or the other, I know you will get more out of DTFL and be more satisfied with that purchase. Thank you so much for reply to my message.
I have decided to subscribe and be part of the DTFL community. Under what nickname can I find you? I would highly appreciate it. One more thing, I would just like to ask you if you only use the DTFL bank trading strategy or you use a combination of this strategy and the Top Dog Training strategy? Do you think it is a good idea to use both strategies at the same time or do you think it is a better idea to just stick to one system? The advantage of using two trading systems is that you get more trading opportunities.
However, using more than one trading system can also cause problems. For instance, you will eventually get conflicting signals. Which signal do you go with? You have to choose one or the other unless hedging is legal in your country. That can mess with the edge that the system provides, as both of these trading systems are mechanical which is a good thing, BTW. Also, picture this scenario. You take a swing trade on Euro using the Top Dog Trading system.
Those are really good signals. I hope that helps. Chris, I found your site sometime ago, read through and asked you two questions about DTFL which you answered well. I must commend you because you made me join DTFL.
There are criteria for levels which a student needs to learn and this is possible in few days, in fact for an already experienced trader they already know how to get them. As Ster says if trading is not boring to you then you might not be trading right: What do you do? Move to other pairs and apply your knowledge of DTFL. I just felt I should support you. Thanks for the kind words, Zat. Most other members do trade other pairs, so they get more trades and rarely have a slow month. I just stick to the Euro and Pound.
If you are going to trade other pairs, I would just advise you to trade them consistently. In order for the edge the system provides you to work out, you need to take all qualifying trades on your selected pairs. You can contact me via my Facebook page if you need to: Thanks for the review and I love the blog. Am I right to say that the best timings are the beginning of the London and beginning of the NY session.
You wrote that somewhere. But could you be more specific? THe first 30 minutes or the first 1 or first 2 hours of each session? Also, is it still being held every Tuesday and Thursday? How many pips would that yield per month? What would be the percentage wins for this system on average? What would be the percentage wins on average? And what other systems do you use and how many hours per day do you use on the other systems?
However, peak volatility for any given trading day usually occurs when the London and NY sessions overlap. A well-qualified trade could come late in these two sessions just as easily as it does right after the open. As far as the specific hours that Sterling uses to trade his system, that is proprietary information that you will learn when you sign up and study the course.
It is not designed to work during the Asian session. I could make a lot of pips swing trading and only make a few percentage points on my trading account. I could also make much fewer pips trading the minute chart, yet make a larger profit relative to my account. Profit and loss are what matters. If a trade is taken late during that period, I may have to check back to close my trade before the NY session ends. Could you care to explain a bit more? All things are never equal from one trading system to another or one technique to another.
One system could make more pips but make less money, as I explained in my last reply. With DTFL, the planned reward to risk ratio is always 2: Your actual reward to risk ratio can vary because some traders like myself move their stop loss to break even, and we also exit early at times depending on upcoming news events or market hours.
With Infinite Prosperity, you never start with a set reward to risk ratio. Instead, you use a stepping stop loss system from the start. I have no issue running EAs. I just need to know if the timing of this system works with my schedule. The point of me telling this story is because I think many traders can relate to starting off in this market, not seeing the results that they expected and not understanding why.
These are the three things I wish I knew when I started trading Forex. The amount we can earn is determined more by the amount of money we are risking rather than how good our strategy is. The difference is that they have slowly developed over time and increased their account to a level that can create sustainable income. That's a true statement if you have a strategy with a trading edge. Your expected return should be positive , but without leverage, it is going to be a relatively tiny amount.
And during times of bad luck, we can still have losing streaks. When we throw leverage into the mix, that's how traders attempt to target those excessive gains. Which in turn is how traders can produce excessive losses. Leverage is beneficial up to point, but not when it can turn a winning strategy into a loser.
This is a lesson I wish I had learned earlier. Excessive leverage can ruin an otherwise profitable strategy.
Would you flip that coin? My guess is absolutely you would flip that coin. You'd want to flip it over and over. Now let's say I have the same coin, but this time if heads is hit, you would triple your net worth; but when tails was hit, you would lose every possession you own. My guess is you would not because one bad flip of the coin would ruin your life. Even though you have the exact same percentage advantage in this example as the example above, no one in their right mind would flip this coin.
The second example is how many Forex traders view their trading account. They go "all-in" on one or two trades and end up losing their entire account. Even if their trades had an edge like our coin flipping example, it only takes one or two unlucky trades to wipe them out completely. This is how leverage can cause a winning strategy to lose money. So how can we fix this?
A good start is by using no more than 10x effective leverage. The 3rd lesson I've learned should come as no surprise to those that follow my articles. I've written many articles about this topic. It's the best tool I've ever used and is still a part of almost every trading strategy I am using, present day. SSI is a free tool that tells us how many traders are long compared to how many traders are short each major currency pair.
It's meant to be used as a contrarian index where we want to do the opposite of what everyone else is doing. Using it as a direction filter for my trades has turned my trading career completely around. If I could tell my younger self three things before I began trading forex, this would be the list I would give. Should be a prerequisi te on live trading accounts. Best Money I have ever invested in my education. Chad and Sterling have changed my trading for the best.
Great Teachers and straight talk. No Bull Crap here: I love these guys - for the first time ever - I'm making money!!! A humongous thank you!
Who Is Day Trading Forex Live For?
In this Day Trading Forex Live review, I'm going to show you why I'm still trading this system after more than 2 years and how it's different from anything else you've ever tried. I'm also going to tell you about why I think Sterling's system isn't going to . The lowest been 4% on a busy almost non trading month for myself. -The RR ratio is 2% loss for 4% profit. This makes it very easy to see good returns. -Trading is /5(41). I just signed up today - Chad and Sterling's market approach of trading Smart Money manipulation of the market is awesome! It just makes so much sense.. also loving' the relatively small Stop sizes, which makes for high Reward:Risk ratios/5(25).