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00:00:00You
00:00:30You
00:00:38Okay, welcome everybody
00:00:41My name is Hubert, can I please get a confirmation that you can hear me and see the chart on the screen?
00:01:00You
00:01:07Just waiting for some confirmations to come in before I continue
00:01:12Good that's the first one. Thanks. Great. Okay
00:01:17So, um, so yes, welcome everybody. My name is Hubert Miranda. I'm
00:01:24Here on behalf of
00:01:26trading strategy guides to introduce you to the
00:01:31strike trader elite system and I will basically give you
00:01:36an introduction to how the system works and
00:01:41Sort of give you my
00:01:43Opinion and view on it. So I've been asked to kind of review it and to
00:01:49to tell you kind of the ins and outs of it, so
00:01:52That's what I will be doing
00:01:56If you've got any questions along the way, please type them into the chat
00:02:00a
00:02:02Hi Dennis, yes, this is live
00:02:08Definitely live to you so you can ask me any questions you like
00:02:12And yeah, so we'll just take it one step at a time and feel free to interrupt me whenever
00:02:20Whenever you can't keep up with something or you've got some question and we take it from there
00:02:30You
00:02:37Okey-dokey, so
00:02:43So basically the
00:02:45The strike trade elite system as you see it here on the screen. Let me just sorry
00:02:49I'll just switch you over quickly on my screen so you can see this better
00:02:55Okay
00:03:01So basically
00:03:04The strike system is what I would call a momentum based strategy
00:03:11So what that means is that
00:03:15The the key
00:03:18Principle that it relies on is if I go back to my chart
00:03:23Basically, it's trying to catch
00:03:27The the start of new momentum
00:03:32So when price big starts to move in one direction
00:03:36it's trying to catch a signal by by measuring that through its its propriety indicator down here and
00:03:46It we're trying to to get into a trade once some new momentum direction is established and
00:03:53The aim is to essentially aim for quite short-term goals and
00:04:00Short-term targets, so they're quick in and out trades
00:04:04and
00:04:07That's the core of it and it's it sounds simple and in many ways it is simple, but it doesn't mean it's a bad strategy
00:04:14It just you've got to
00:04:17Be aware of certain elements of how to handle it in order to not burn yourself
00:04:24Okay, hi
00:04:27Damien
00:04:29I've just really started right now. Basically the system I
00:04:34Showed the screen here
00:04:36It's a momentum based strategy
00:04:40Which is good for small time frame trading. So it's good for
00:04:45for five minutes
00:04:47or lower and the reason for that is because
00:04:51We're really just trying to catch
00:04:53a
00:04:54kind of a
00:04:56push an impulsive move of price and
00:05:01we're not necessarily going to wait for a price to move a huge amount in one direction if it does it's great, but
00:05:09Because it's really based on on this one core principle and
00:05:14The the kind of the statistics around it as to how many trades go right versus how many trades go wrong
00:05:21It lends itself for this shorter time frame trading and if you're going to deal
00:05:27you eat it you can use it on bigger time frames as well, but I would then personally and
00:05:33No doubt add extra refinement elements to it, which I will talk about later on
00:05:40And
00:05:42But yeah, basically this is really the key of it so it's it's great for short-term and trading
00:05:49Simply because it's we're just looking for a reaction reactionary move in the market
00:05:57Rather than a clear technical reversal or anything like that
00:06:03Robert says there's no audio
00:06:05Now I think everybody else oh
00:06:08Hang on people are saying that there's no I see now two comments with no audio
00:06:16That is strange
00:06:19Because it should
00:06:21You should hear me quiet loud and clear. Can I can I get some more confirmation please can you hear me now?
00:06:27it should you should hear me quite loud and clear can I can I get some more confirmation
00:06:34please can you hear me now again or can you still not hear me
00:06:46Robert and Mahesh
00:06:52okay get an okay from arena Dennis says it's good all right so guys then the two of you
00:07:04who are not hearing me you might just have to check your own audio settings because everything
00:07:10seems to be fine here okay so just let me talk you through the basics of it and the
00:07:20system basically predominantly consists of this indicator down here which is the the
00:07:27stride trader elite pulse indicator and this is will give us our momentum reading so as
00:07:42you can see here when price starts to create some upwards momentum you start to get a reading
00:07:52above the zero line here so here that the central dotted line is the is the zero line of the
00:07:58momentum reading and so once we get some momentum to the upside you start to getting these green
00:08:09bars and they're building up and basically with the reading that you see down there it's it's
00:08:15kind of a complex mathematical structure that comes up with with a reading a visual reading
00:08:23that's gauging basically the power in the moves so and as as the move fades like here you start
00:08:34to see the move the upper move is slowing a bit and eventually when that gets too much you start
00:08:40to see a drop here as well so the reading goes down and the bars go darker and anybody who's
00:08:49familiar with with other kind of and oscillator type indicators that's right and it looks pretty
00:08:59similar in it eating this I think this indicator incorporates a few different mathematical features
00:09:09to gauge momentum but they are in principle similar and but what this whole system indicator
00:09:16does is it gives you basically entries and stops and targets so it tells you actually where to
00:09:27place pending orders etc and I'll talk you through that so I just wanted to give you quickly talk you
00:09:33through the main indicator down here so so basically you've got these these rises and
00:09:41falls the momentum and of course if it if the momentum turns completely the other way so here
00:09:52then of course it drops below the zero line and it turns red
00:10:05oh hang on I actually got to do that
00:10:08sorry so if the Davidic quality is very poor and this that webinar will be recorded as well
00:10:22and so it if if you find that the video quality is too too poor right now and we will upload it
00:10:34with a high quality recording so my apologies if it is a bit blurry but there will be you can
00:10:45go back to the video later on and it will be and it will be clear by then and that was actually a
00:10:55good point because now I've started my recording so so this is basically the principle of this
00:11:04indicator and if if once we go into the settings here you get quite a lot of settings that you can
00:11:17adjust but for the outset if you just want to start off just keep it as the default settings
00:11:23and because that gives you here a certain sensitivity in the in this momentum indicator
00:11:31and then in terms of the system itself how it gives you the signals that's where these three
00:11:41settings here come in so where it says here how many points for the late entry is where the setting
00:11:48is of when where you get a marker line of when to enter potentially a trade and the initial stop
00:11:59loss value points is basically a marker line that tells you where to put your stop loss and the
00:12:05initial take profit line is a setting of how many pips away the the the target will be set and so
00:12:17as a default from the creator of the system you it's kept at 120 points so there would be 12 pips
00:12:27delayed entry 150 points or 15 pips stop loss and 30 pips talk a target so there's basically two
00:12:40that you can go about this strategy if I show you this here either you you rely on the statistics
00:12:53of it and you really can say you can use the system without having to think without having
00:13:01to really analyze very much and just simply follow the the signals that it creates which
00:13:08I'll talk you through so I'll give you the details of that and that's fine and obviously
00:13:19it's understandable if you don't want to just rely on somebody's statistical claim and so you
00:13:26can in a way try out the signals on a demo account or on really small risk at first to see if if you
00:13:35find that it works well enough for you that's one way the other way is you can include some
00:13:42signal refinement or extra filters which I'll teach you so that you will apply some of your
00:13:50own a little bit of your own analysis to it so you can essentially choose the best signals and
00:13:56filter out and not so great signals okay so so I wanted to show you here for example on the pound
00:14:17US dollar the way it happens here I'm gonna show you what these little lines mean and it looks a
00:14:26bit complicated right now but it's actually not that complicated basically there's one indicator
00:14:35so the one the indicator that you see down here that's the the pulse indicator signals with that
00:14:42so if I if I go if I zoom out here you can see that you've got these lines happening here which
00:14:48I'll clarify for you what they mean and basically they will map out all the previous signals that
00:14:56appeared in in previous price action based on the settings that you've that you've set it so that's
00:15:03a really handy feature because what you can do is you can choose a certain setting you can choose
00:15:09the default setting or other settings and then see okay how many trades would have gone right
00:15:15how many would have gone wrong and so to show you this with a the latest example here
00:15:29so whenever you get a vertical line like here you get this red vertical line this means that
00:15:36the beginning of the signal has started so from that point the the system recognizes that there
00:15:49might be a trade set up we haven't got one quite yet but it's about to happen and what it is what
00:15:56it picks up on is that the minute the momentum goes if I zoom in here you can see that better
00:16:06once momentum starts to go in one direction and produces a reading beyond the 0.3 line on that
00:16:19momentum indicator it will plot the line because it's a potential start of new momentum in one
00:16:27direction and sorry I'm just seeing it question in the chat do you need to install the three
00:16:42indicators yes preferably you install all of them what I'm talking about mainly now will be pulse
00:16:49and signal the push indicator is is a little bit more gives you more information but I will I will
00:17:01briefly touch upon it but not so much so mainly the pulse and the signal indicator and now jay-z
00:17:07sorry I just saw your question now I am answering it I am have been asked to review this strategy
00:17:15so I I have not traded it myself for more than two weeks and I've just attested it myself and
00:17:23but I have been asked to basically tell people the ins and outs introduce people to it and tell
00:17:32you the ups and downs so if you don't like that I haven't traded myself that's okay but I'm telling
00:17:39you how it is and you can take it or leave it so back to where I was so basically what we're
00:17:50getting the very beginning of new momentum here and what then happens is that the system will
00:17:57plot a yellow line and when if it's a current signal it will be a solid yellow line because
00:18:05it's currently an old signal you will just get a some dots here yellow dots but essentially based
00:18:15on the settings that this indicator is in so we're saying from the the beginning of the signal when
00:18:24it picks up of the momentum indicator 12 pips below that will be your entry signal and basically what
00:18:34this system is trying to do here is it's trying to get confirmation that the momentum that is
00:18:42getting picked up here in the bottom indicator has really follow through so that's why we're
00:18:48putting a delay in the entry in order to this way we're putting a delay in the entry in order to get
00:19:03some more confirmation that the momentum is really going in our direction so what that yellow line
00:19:09then does and I'll do that for you now so that you see how that would look in real if it happens
00:19:16right now so what do you get you get a yellow line here which then tells you to place a pending order
00:19:29at that level so you would then then simply for example if you use MetaTrader 4 you would
00:19:37simply right mouse click click on trading and you would click on in this case it would be a sell
00:19:46stop right it doesn't give me that option because of course price is broken lower already in this
00:19:52particular case whoops sorry about that so in this case price is broken lower but you would
00:20:02click here basically where the line is trading and then it would could sell here sell stop which
00:20:11basically means that and as soon as price hits that level a the order will get filled and you're
00:20:23in the trade it will also plot a red line which you've got red dots for which would be 12 pips
00:20:32away from from this line I have 15 pips away from the line from your entry so that would show up as
00:20:46a red line like so and that's telling you where your stock would go and it would then also plot
00:20:55a green line where your first target would be so basically it gives you time to set your pending
00:21:10order once the order gets filled and the red the yellow line switches to another color specified
00:21:20obviously in your settings so originally it's white which means essentially that now the trade
00:21:29would be active then price moves and once the the target gets hit it then also automatically
00:21:40record moves the the red recommended stop-loss line to say break even and when it hits a second
00:21:47target it moves the line further to in this case it was this point I think and so essentially the
00:21:56trade would go on until it either it will continue to set the next target I think the same amount of
00:22:05distance so in this case it would be 30 pips or either it will stop you out with your trailing
00:22:11stop and in this case it probably just about missed the the second target and then one back
00:22:19up here and it would have stopped out here and some profit based on your trailing stop now so
00:22:28the reason why the system has a default setting of like 15 pips stop-loss and 30 pips target is
00:22:39because it's trying to recommend a two to one reward to risk ratio so you're trying to aim for
00:22:48twice as big a target as your risk and hence that default and it's true obviously if you use 50 pips
00:22:59stop-loss and a hundred pip target that would also be a two to one reward to risk ratio but because
00:23:05we're dealing with small time frames and it's better to stay with with smaller targets so this
00:23:13is a scent really the core essence of it and I can just show you now a bit how that would have
00:23:25worked historically so in a way it's showing you the history here you can see we have have first
00:23:32the yellow dotted line the original stop-loss here of the signal that started at this vertical
00:23:39line then the order obviously got filled we had the white line appear then price moved down here
00:23:51was your original target you see these two green dots just above the line here once that was hit
00:23:59this this stop-loss was moved to here hence you've got the red dotted line here it moved further
00:24:08down obviously if you could have exited manually once you had further target because at this case
00:24:15in this case you would have been at a four to one reward to risk ratio so that would have been quite
00:24:19a good time to pull out manually potentially especially if it comes so close to the target
00:24:23and then yeah it got stopped out and this is the end of the trade hence no more dotted lines
00:24:30from here and so ever since then we haven't had another signal why because you can see momentum
00:24:41here has built up and it's starting to fade it's starting to become less and until we get a reset
00:24:50as in price coming back here at least to the zero line or even crossing over and then coming back
00:24:57down we wouldn't get another sell signal so you can see how it's really trying to catch that
00:25:02initial momentum first you can then here for example if we're now looking at the previous
00:25:14signal which was a buy signal which is why you've got a green vertical line so you have
00:25:25the beginning of momentum here it's which is why it's starting to to trigger the the mapping of
00:25:35the signal and so your entry line would have been here at the yellow bar and you can see how
00:25:42obviously price did not trigger for quite some time here at this point it finally did trigger
00:25:51and the stop-loss would have been here 15 pips from here from from your entry just making sure
00:26:02that that is the case yeah that's right 15 pips and initial target was here and you can see with
00:26:12this move it actually hit the target then it would have recommended you to move your stop-loss from
00:26:20down here up to here to lock in some profits price then went all the way up to here but came back
00:26:29and would have stopped you out here with probably a one-to-one reward or you if you wanted you
00:26:36could have exited somewhere closer to up to the previous target now there are some instruction
00:26:42videos that come with that tell you all of that how the system works once you get the indicators
00:26:50there's several videos that explain all of that in quite nice detail so what I want to focus on
00:26:56mainly today is to give you actually some additional tools what you can use then in addition
00:27:03to in a way refine the system and impossibly even make it better than just following the signals as
00:27:10and when they appear so this what I'm just telling you now for example is what I meant earlier here
00:27:20that that basically it's you just follow it based on the statistics that and you rely on it that
00:27:28it's going to create enough more wins than losses and the the other refinement options with what I
00:27:38will talk about now so there's like six points that I've thought you could incorporate to to
00:27:47make it possibly a stronger system yet and some of it is already mentioned also in the videos that
00:27:55come as a default with the system but some of things I've also added myself so let's start
00:28:03talking about those unless there are any questions right now is everything clear to everybody
00:28:17just waiting to see if there's any questions appear in the chat but if not I'll continue on straight away
00:28:47okay so no questions I'll just continue them so okay my first tip which is actually already shown
00:29:04here is that I would only use this for short-term signals myself because if you like go to higher
00:29:16time frames what you start to happen is you in order for price to create a signal everything is
00:29:29obviously in a bigger scale so your targets will be bigger your stop-loss will be bigger your
00:29:34delayed entry will be bigger and it basically means the price in order for the trade to go
00:29:44right has to cross more cover more distance and because it's a simple momentum based strategy you
00:29:53will price obviously will inevitably have to cross into more through more support and resistance
00:29:59areas and that's where I think it actually works best to trade it on small time frames on a small
00:30:06scale because then we're in a way have to rely less on price breaking through these support and
00:30:15resistance areas because if you're gonna do if you're gonna do that and say okay I'm going to
00:30:21trade a bigger move I'm gonna look at a chart and say I'm wanting to catch a bigger swing then you
00:30:31definitely need to add put more analysis in and in a way then it's might as well you might as well
00:30:36trade a different system but this is really for for short-term gains that quick in and out trade
00:30:42so hence I would probably think stick to the five-minute chart as your as your as your main
00:30:52trading time frame with the with the settings that are provided in the instruction videos it's not
00:30:58just in this video and which I showed you here so if you go to the properties again those those
00:31:07original settings here 12 pips 15 pips 30 pips so that's the first thing and the the next thing
00:31:19on my list is to include horizontal support and resistance levels and trend lines to filter out
00:31:25signals yeah David that's right SR means support and resistance levels so what I mean by that is
00:31:34obviously if you just look at a five-minute chart fairly close up and waiting for these signals
00:31:42you're kind of blind to what's happening on a bigger scale you don't know if there is a support
00:31:49or resistance in the way of anything or not so say for example let's have a look at this
00:32:00this trade here it is by trade and I will make a marker line at this high
00:32:12just a white line
00:32:13so the way you do that is you in order to map out your support and resistance areas you have
00:32:19to go to a bigger time frame quite a much bigger time frame four-hour chart
00:32:24daily chart these are all important much more significant obviously dimensions of a chart
00:32:33and you can see you can what you can do very simply is you you take a line
00:32:39you take a line and you try to map price levels where there have been multiple reactions to it
00:32:49so ideally you want to have precise hits where the candles make a precise hit
00:32:58exactly at a level on different occasions but a bit of wiggle room if the candle closes at
00:33:05that line and some other points create a precise hit that's also fine so in this case for example
00:33:12I can see we had a hit of their price level right here then we had several more hits here
00:33:21they were pretty precise one pierced through but that's okay we have another candle close
00:33:29the wicks went through but the candle closed pretty much at this level and we've got another
00:33:34level here so to me this is a significant support and resistance level based on the four-hour chart
00:33:41so I'll keep that simply on my chart and for future reference because if if I'm wanting to buy
00:33:53and my target area would be kind of beyond that resistance line then I would probably
00:34:00not take that signal that the strike system produces because
00:34:06I would be cautious that another bounce would appear at that level
00:34:12now this is of course not the only level so you can go and try and find some kind of previous
00:34:20support level as well so here for example I'm looking at this
00:34:28hit here I'm looking at these several four-hour candles hitting this level here and bouncing
00:34:35and in a way here as well again so you can leave that line in for example and that's how you go
00:34:43along you the same thing for the daily chart and you can see actually quite nicely how
00:34:51how
00:34:55how on the daily chart this line that I had drawn the support line here based on the
00:35:01four-hour chart candles is actually coinciding with the previous support as well here from
00:35:06December 2017 and of course that makes the level even more significant and the same here so for
00:35:15example a a strong daily resistance level might be somewhere here or say yeah let's I quite like
00:35:26this level because I've got a precise hit here followed by many precise hits here again
00:35:34so this is what I mean by horizontal mapping out horizontal support and resistance and also
00:35:41trend lines so if we go maybe back to our four-hour chart
00:35:49and you can just start to connect
00:35:58it must be in black color I make that maybe bright blue or something like that
00:36:04so you can just start connecting the tops of candles with each other and just drawing them
00:36:12and you can actually set that to ray in parameters which means that they will just go on forever
00:36:21infinitely in the chart and you can just set them and see if they eventually become relevant again
00:36:30eventually become relevant again so obviously we've got numerous hits of that trend line here
00:36:37of course it gets broken here but it doesn't matter that becomes irrelevant you can keep those
00:36:41in the chart as well and obviously right now it's where price currently is which is here
00:36:49this trend line isn't of any relevance because price is far away from it but I'm just giving
00:36:59you an example of how how you can add trend lines as well I mean if I
00:37:07follow this trend line perhaps this might become relevant sooner
00:37:16so for example if
00:37:20if I show you this here if price continues to prices here and if it were to continue to fall
00:37:26and it would start to give me a sell signal close to this trend line then for example it
00:37:33would be again more cautious to actually use that sell signal because even though it's not obviously
00:37:41not the most incredible trend line I mean longest trend line ever it's still a significant level
00:37:48with quite a few hits and so I would risk I would bear that in mind and see that as a potential
00:37:58support area and because we're dealing with small such small margins of only a 15 pip stop
00:38:06and a 30 pip target that this would be something that I would be respecting
00:38:12so and of course then so what what will happen is that once you map those in a bigger time frame
00:38:19these lines will just be on your chart and so when a signal appears then you will have that
00:38:28as a reference and say okay hang on if the signal is within the area of these lines then
00:38:34if the signal is within the area of these lines then
00:38:40pause for a moment zoom out see do you think there's really
00:38:44enough space and and then make your decision based on that
00:38:50so that was our first tip then the next tip is
00:38:58identify price direction with the stronger momentum on a higher time frame
00:39:03and decide to only trade signals in that direction so that's another sort of filter
00:39:07you can add so by that I mean you want to go say to the one hour chart perhaps
00:39:18and you want to consider okay in the over the recent period of time
00:39:28where has been the stronger momentum has it has the strong momentum been to the upside or the
00:39:33downside and well obviously no doubt recently the momentum is very strong to the downside
00:39:45and if we compare that to the move the upwards moves
00:39:51there seems to be generally a stronger momentum to the downside
00:39:54generally a stronger momentum to the downside and how can you see that even you don't even
00:40:02have to use an indicator like this to gauge momentum you can just look at the candles
00:40:08and that's what kind of what I'm drawing you to let me go to the four hour time frame that
00:40:12might become a bit better because we have more more data in a way here so what you see here
00:40:21that one hour our red candles our bearish candles they have been the stronger ones generally
00:40:31whenever there's been a bullish move with creating bullish candles they tend to be
00:40:38smaller have more wicks obviously here was the most extreme and the momentum was obviously
00:40:47the strongest and you can of course the the moment indicator is showing this here
00:40:52but even so the move once we had a more significant low here the move upwards was not
00:40:59showing a massive amount of momentum so overall you can just say okay the momentum is the stronger
00:41:07momentum is still to the downside therefore in this particular pair and the pound dollar
00:41:13I'm going to align with that direction and that's just in a way common sense you know you
00:41:21you don't want to try and go against a dominant force you want to try and align with the dominant
00:41:26force so and especially now that we've got some new candles with with strong momentum like this
00:41:35it's probably wise to stay for the moment
00:41:41mainly focused on cell signals as and when they appear so that's something you can do you can map
00:41:47that on higher time frames as well just by looking at the candles saying okay which direction is
00:41:53producing strong big candles and more of them and which direction is producing small choppy candles
00:42:01like like here like the blue ones here okay then the next point is session timing so
00:42:17i'm saying here use strike roughly from two hours before london open
00:42:23until the end of the new york session
00:42:27end of ny
00:42:31um so what i'm saying here the reason i'm saying it's best to use it during the london
00:42:37session or the new york session is because those days they are the main
00:42:41trading hours where you get the most liquidity the most volume the most price movement and
00:42:50if you trade during like times like now for example it's it's the very very start of the
00:42:57asian session so tokyo isn't even open yet it's just new zealand and australia
00:43:04um the moves that you get during that time they don't have any follow-through
00:43:11they they generally just price like you see here um we had
00:43:19where was it so the new day started here i think london sorry new york closed sometime here
00:43:27around this area and what's most likely going to happen now during the asian session or
00:43:34during the coming hours is you'll get some movement you'll probably get some correction
00:43:40but price will be more choppy during this time and um when tokyo opens you might get a move in
00:43:50a direction but a lot more often than not it doesn't have follow-through and because we're
00:43:57looking to trade on these small time frames looking to catch small momentum
00:44:02and we ideally we want to see a bit more consistency than the asian session usually
00:44:08provides so that's why i recommend trading once london opens or a couple of hours before because
00:44:17you get already some interesting volatility and um or when when new york opens so that's why i've
00:44:27written this here on on a time on the sheet now i said roughly two hours before london open
00:44:37because like i said volatility picks up already then and um you often get like moves
00:44:46like with the start the exact start of the sessions there are important transitions and
00:44:53in a way if you are in a trade two hours before on open that's fine but in a way ideally i would
00:45:01want to be almost already at least a break even by the time it comes to london open itself because
00:45:10you can get like an initial like a jerking movement when when the new traders get going
00:45:18and and there can be initially some some change in the dynamic and the same of course when new
00:45:24york opens so london is already open then at some point new york kicks in and you tend to get a
00:45:32a change of dynamic then often so if you've got for example an open trade that started during the
00:45:40london session then i would try and wrap it up or at least put it to break even when it comes to
00:45:46the new york open session and then start a new trade if you want in a based on a new signal
00:45:53once new york is open i hope that's that's pretty much clear i can give you also a tip
00:46:02here for a link so this link here www.worldtimezone.com forward slash markets24.php
00:46:19it's a very handy little site because it basically shows you the time of each of the markets so lse is
00:46:28the london stock exchange nyse new york stock exchange and tse is tokyo stock exchange
00:46:36you've got a list of of them here they tell you the trading hours when they open
00:46:44and and these labels once you refresh the page so if i now refresh the page
00:46:51you can see at the moment it says new zealand stock exchange is open everything else is closed
00:46:59and that will sort of you know change throughout the day so this is if you if you
00:47:04trying to keep a track of the session times this is a really handy website
00:47:07hi red knight um you've missed quite a bit unfortunately but this will be recorded and
00:47:18therefore you can listen to it all afterwards again but you just have to jump in and kind of
00:47:25flow with where we are right now okay then
00:47:33tip number four for refinement focus on pairs you personally like and pairs that move fast
00:47:41so i don't know about you but i found that there seem to be certain pair a currency pairs or or
00:47:49other instruments that
00:47:55that um that just work well for you and you can use them for a lot of different things
00:48:03so you might find i don't know the euro dollar works really well for you but maybe the the us
00:48:10yen you often have um not so good results with or maybe you find that some kind of cross maybe the
00:48:18the euro new zealand dollar or something that you always tend to get good results with that
00:48:23if that's something the case that you've noticed in your own trading then then use it on the on
00:48:29those pairs because i'm not sure exactly why why that is maybe that the way a certain pair behaves
00:48:37suits a certain person's psychology more and therefore they get better results
00:48:42if that's the case just stick to those pairs you don't have to trade
00:48:46hundreds different pairs with a strategy um and and the other recommendation is that you
00:48:55also choose pairs that that move a good amount of pips so some pairs like for example the new
00:49:02zealand dollar against the us dollar is pretty slow moving like it's um it doesn't move as many
00:49:09pips or the the euro um pound exchange rate is also one that does moves pretty slow whereas
00:49:18whereas um generally all the euro pairs move pretty fast and all the pound pairs move pretty
00:49:25fast just not the euro pound but so for example the if i go back to my charts here briefly
00:49:33the euro new zealand dollar for example generally moves pretty fast you get a lot of pip movement
00:49:39so that's why it's good for for this system um or the pound australian dollar these crosses they
00:49:47move well but of course the majors the two majors um move really well to the pound usd and the euro
00:49:54usd so that's an extra little tip and then okay avoid small time frame setups during important
00:50:06news events so it's good that you to keep a track on really important news so go to one of the
00:50:17you know the forex websites like maybe forex factory or or investing.com and and go to your
00:50:27economic calendar and just keep an eye on if there's any significant events scheduled for the
00:50:34day obviously like for example yesterday we had the the ecb the european central bank um
00:50:42interest rate decision and no doubt we had quite some volatility and then obviously just a big
00:50:49break breakdown um i would personally avoid trading around these times because you get
00:50:55obviously whipsaw and you can get stopped out because we're dealing with these small time
00:51:00frames with small stops and targets um so yeah avoid around it you can trade after or maybe
00:51:08i don't know up to an hour or so before the event but
00:51:14i would definitely i would stay away from the immediate time around the event
00:51:22and then here i just made a point saying use the strike signals indicator to back
00:51:27test different settings until you feel comfortable yourself so what i mean by that is
00:51:33um like i said you can once you get the strike trade elite signals
00:51:40indicator which i've got already on my chart which is showing me these previous signals
00:51:51so here it's that's what the that signals indicator does um
00:51:56um if i go to the settings now
00:52:05so obviously the settings right now are such that you get a signal once the reading of the
00:52:15pulse indicator goes beyond 0.3 from the zero line and then the signals are based on these
00:52:2112 pips 15 pips stop loss um 30 pips target
00:52:27check go do the back testing go back and see okay how many trades have gone right how many
00:52:33trades have gone wrong if you already working with indicators or like momentum indicators and so on
00:52:40you can just play around with the target and stops and um and see if if anything works better right
00:52:50so if you if you say okay i want to see if i delay my entry by 20 pips and make a stop loss
00:53:00value of 25 oops i have to do of course points so make that 200 250 and then the profit take profit
00:53:11say would be 50 pips and you do that then of course you're gonna get different signals
00:53:20um because your entry is delayed and obviously your stops and targets are different
00:53:26and you just see okay do i get better results with that or not
00:53:33and i think there will be more support videos being produced as time goes by and of course
00:53:38there's also the the forum the the strike trade elite forum where ideas can be exchanged so that's
00:53:44a good place to to try these things out um but just to start out with i would leave it at the
00:53:54initial recommended default um which i have set here and then and then just take it from there
00:54:15now
00:54:19see i wanted to show you an example of how this also
00:54:22how you can use support and resistance levels and trend lines in your in your trades
00:54:31so in this euro dollar trade here for example
00:54:35here we've registered a buy possibility from this point onwards and um
00:54:41and so it was recommending okay you enter the trade here if you want to improve your signals
00:54:47obviously i've talked about drawing these lines in this situation what i thought was quite nice
00:54:53um as an example was we have this
00:54:58sorry i should go back to the higher time frames to show you what i mean
00:55:02higher time frames to show you what i mean i drew this this line this resistance trend line
00:55:09based on these touches here these bounces so price went down test it again down test it again down
00:55:17here we started to get a breakthrough and a retest of that line
00:55:22and price started to establish itself above that line now once you get that happen
00:55:29and of course on the smaller time frame this is what it looked like on the smaller time frame
00:55:36oh sorry guys
00:55:42so on the smaller time frame
00:55:46here you've got the white line you can see the break the retest so in a way i quite like that
00:55:53signal because it um it happened to coincide with this break of the support
00:56:00this resistance trend line and because price was now um
00:56:08trading above it i was thinking yeah i'm quite happy to take that signal because there is room
00:56:14to the upside because this resistance trend line has been broken and so i was really happy with
00:56:21that signal and it would have been actually a good trade um so it would have triggered here
00:56:28your stop loss was here and it went up and pretty much see of course you want to be also um
00:56:41present for the for the trade you know right price goes up then you start to get
00:56:47um some downward movements coming in and of course we've got this big news event so in a
00:56:54way that would have probably meant best not to take it because we're getting too close to the
00:56:59news but if this wasn't the case if you just look at it like so um once you start to get
00:57:06quite big momentum to the downside again and it hasn't quite reached a target
00:57:09um i would definitely move my my stop loss manually to break even even though the system
00:57:15probably won't have told you that yet because it hasn't quite reached the first target
00:57:21and that's also doing a bit of manual trade management is
00:57:25also shown in the instruction videos videos that come with the indicator
00:57:33so yeah there's i just wanted to show you how this kind of works with the
00:57:39support and resistance trend lines that you can map in
00:57:45okay i think that was probably my last tip for the time being um
00:57:53have you got any questions right now could anybody everybody follow me
00:57:58i'm just waiting to see if there's any comments or questions arising in the chat
00:58:28so
00:58:49i see this was actually quite a good um this was probably quite an excellent trade in some ways
00:58:55like it kept on uh coming down and down so far of course and you've hit like lots and lots of
00:59:04targets here uh david yes that's correct i think it's probably best for fast moving pairs
00:59:16so that you can get these 30 pip movements you know um fairly often rather than
00:59:24it wobbling around like in the middle of nowhere and also an important thing is add your spread
00:59:33um to the to your stop loss settings so if the default is 12 um sorry if the default is 15 pips
00:59:41for your stop loss then you want to add whatever your broker's spread is to that so that you don't
00:59:49get stopped out too early um so like say if you have a two pip spread or something on instrument
00:59:58then you want to make your and you want a 15 pip stop loss
01:00:02then you really have to set your stop loss to at least 17 pips
01:00:20also um another thing you might bear in mind is like say if the setting say for example
01:00:27in this case um you get this move you get a get a strong move so after the news
01:00:37and then you you get the signal but you can see this it seems possibly a bit tight here
01:00:43you can gauge if is there some previous again a level just on a small time frame it doesn't have
01:00:51to you don't have to go far back but you can so for example gauge here okay where was there some
01:00:58previous resistance that could act as a good stop loss setting you can see like here we've
01:01:03we had quite a bit of resistance so in some ways you could say well okay i know the system's
01:01:09telling me put my stop loss here but this level slightly higher is actually more a significant
01:01:16resistance and maybe it's better to put my stop loss here if there's enough room for my target
01:01:22and i still get a better than a one-to-one reward to risk ratio like at least say a 1.5 to 1
01:01:28and then that's still good so you can you know make those little tweaks so apply a bit of your
01:01:35own analysis and intelligence to it and i think you'll get better results that way even more
01:01:42okay well unless there's any other questions i think um i shall wrap it up for today i hope
01:01:48you enjoyed that i will still be briefly around um if there are any final questions but other
01:01:54than that i wish you good trading and i will i think make sure that you get this this little
01:02:02sheet that i've showed you here and this might with my notes as well and wish you all the best
01:02:09thank you
01:02:32you