 All right guys, good morning! Can everyone hear me and see my screen? All right. All right. How is everyone? Good, good. All right. I give me a moment here. We'll get started. Let me just get the screen ready Where is my Okay, so let's get started here now at 7 34 p.m. Up my time It's 6 34 a.m. in New York City time is my voice clear Can everyone hear me or do I need to adjust it to higher or lower? You know, what's the situation? Sounds fine. Okay. Good. Good. Good. If there's any issues, let me know and We'll take it from there. Now. How many of you guys are new here? Yeah background noise. I'm actually My house Doing this out of my house and it's downtown so lots of noise outside. Okay, Mollick Ken Burt Gopi Okay, welcome. Welcome Okay So welcome to all the new members who have recently joined Urban Forex and also those of you who are new Maybe not at Urban Forex, but maybe to my webinars. Okay, we do webinars weekly usually on Wednesdays It's either gonna be me speaking or it's some other analyst or maybe a good trader from Urban Forex who actually, you know wants to try Doing speaking in webinars and sharing his methods So we have one every Wednesday and today's topic is pro trading strategies is one of the most popular strategies of mine That's on the internet Again, five star rated all across every forum out there and YouTube videos has massive amount of likes and everything so If you're watching this on YouTube, please do go ahead and like on the bottom and share your feedback I hope the audio on this one doesn't go bad halfway through like the previous webinar We're getting that fixed Okay, so how many of you guys have not heard of pro trading strategy at all I mean, I know some of you guys are new here, but how many of you have not heard of pro trading strategy ever before Okay, will looks like there's a few of guys are dude Mollick and Gopi. Okay, so we have a few people. Okay, what we're gonna do today We're gonna start with the very basics of pro trading strategy I'm gonna spend 15 minutes on to that and then we're gonna spend the rest of the time recapping and Then towards the end what we're gonna do is I'm gonna Teach you guys some ways to refine it. Okay, many of you guys have probably seen the video I've recently posted on to urban forex, which is About this young kid who has autism and he simply tells you to stop learning For a moment sometimes in your life and start thinking Okay, if you start learning doesn't matter what you're doing. You're gonna follow the trend When you stop and you think You will come up with things that is not taught You know, you will come up with new concepts new ideas. This is how innovation begins. All right, so Let's go into The basics to begin with here. Okay pro trading strategy works very well with what we call Exhaustion candles exhaustion candles are pretty much candles Many of you guys may know it as pin bars. Many of you guys may know it as hammers inverted hammers and stuff like that What is an exhaustion candle? It's something similar to this. Let me find you a textbook example Lars no, you didn't miss anything. Let me find you a Proper example for you to show you guys Okay, here we go. This is what we call an exhaustion. Okay Take a look how the trend is on its way up and Then this candle opens up It goes really high all the way up to here and It gets pushed back down all the way down back again and it closes near the open Okay, this big little stick that you see here is what we call a tail Okay, it has a tail on one side on the other side very nominal Indicating there is a lot of pressure pushing it down from the top Okay, it tried to go long, but then it pushed it back down So think of it that way. What does this indicate? It indicates a trend reversal okay, it Means there is a strong level of support or resistance above this level that's pushing it down. There's a lot of players in the market that is Pushing this down now. Give me a second here. What is this? Okay, so there's there's a lot of players that are are Pushing this trade down. So what actually happens is You have an exhaustion there are some criterias Do you know what we'll look at the live markets and everything all the way at the end? Let's stick to all the questions towards the end so nobody gets lost and confused in between questions and answers All right now if we take a look at this exhaustion you need four criterias to match up with this Criteria number one The exhaustion must form in a trend Okay, if it's not coming from a trend, it's not an exhaustion. You could not have a trend reversal if there is no trend Okay, there is no sideways reversal It doesn't make sense Step number two criteria number two the exhaustion candles tail needs to stick out You see this big tail right here. You see all this open space onto the left Okay, it has all this open space here onto the left which indicates This is visible from a distance You don't need to actually sit here and use a microscope to see this You can see it from halfway across your room and say like ah take a look at that. There's a big tail sticking out Okay Now step number three the exhaustion candle itself must be bigger than the previous candle Indicating the current candle that had the exhaustion pushed really hard Compared to the last candle. There's suddenly sudden strength came into the market and then it went away Why? Okay, indicating a trend reversal Condition number four the exhaustion candles body It must be within the previous high and low Okay, remember how Concentrate on what I'm saying the body of the exhaustion candle must be within the previous high and low So the entire previous candle not just the previous body Okay for conditions will When we're talking about the trend we're talking about immediate trends Okay, if you're looking at exhaustion here, we're talking about this trend if you're looking at exhaustion up here We're talking about this green trend right here Where you have higher highs or I'm sorry higher lows or lower highs Okay, you see how there's a low here and then the next low is up here the next low is up here the next Low is up here. This is an indication of a trend Okay, same scenario happens here. This is a downtrend You have a high then a lower high then a lower high and a lower high so on and so forth That is what you call a downtrend Okay, so we have all these criterias for criterias whichever criteria is wrong The entire exhaustion is wrong. There is no order for these four criterias Okay, let's go over them one more time criteria number one Okay, you must have a trend when the exhaustion is formed criteria number two The exhaustion candles tail must stick out. It should be visible clearly visible. There must be empty black space next to it Okay, criteria number three The exhaustion candle has to be bigger than the previous candle and finally criteria number four The exhaustion candles body Must be within the previous high and low Okay, if you put an air line here, there's a high of last candle Here's the low of last candle. Is the body inside this high and low? Yes, this makes it valid Okay, this gives you an indication that the trend is going to turn around Now so considering those steps in mind. Is this a proper exhaustion? No One of the criterias are not matching in this particular case. The previous candle is has extreme pressure Yeah, previous candle is too big. It has extreme pressure Chances are this extreme pressure may continue You can't have a slight movement, but the pressure may continue. This is why we look at these criterias Okay Here we go another situation Is this correct? No, okay moving forward is this correct? Okay, no and last one Is this correct? Also, no now These things are it just keeps you safe if you're avoiding these things now whenever you have an exhaustion candle Usually a trade works in your favor almost instantaneously Okay, this because the indicates the market has a strong reversal coming up all right now take a look at Well, how about this is this correct? There's a tricky one. No, the body is not inside the previous high and low also makes it incorrect Okay, because as you can see if you were to enter Short at the next candle if you were to enter sell considering that the market is going to turn around As the market actually goes up many people start to freak out They start to get scared like oh, no, it's going long You know and so on and so forth and then people tend to worry So it keeps you safe if you keep to the criterias Okay Another thing to always keep in mind. How about this one? What do you think? Okay? Yes. No No It's equal. Okay. You see how we have mixed responses. Yes, and knows and question marks and everything Concept to always follow in any strategy and anything you do in In trading with it when it comes to investments when in doubt don't touch it if it's not clear enough for you It's not clear enough to take the trade. Don't touch it Remember that concept anything you do with money if it's not clear to you don't mess with it All right So you leave that trade alone as well All right now moving forward We everyone okay with the exhaustion candles everyone understands. What is a proper exhaustion candle? What is not? Yes, can we get a yes. How about this one take a look at this? How about this is this an exhaustion candle? It's quite clear light. It sticks out in front of your face that whoa It's in an uptrend. We have this massive tail that sticks out Okay Preview it's in the this candle is bigger than the previous candle. Also the body is inside the high and the low of the last candle The body is bigger than the tail on the bottom as well Indicating one-sided the tail is one-sided Massive pressure pushing it down the next candle when you short Very little does it ever go against you? It almost instantaneously instantaneously goes in your favor This indicates there is a massive amount of pressure coming in into the market To sell Okay, we'll get into that we'll get into that let's not jump ahead of ourselves I'll get into everything entry exit stops everything but one at a time. All right So we got our exhaustions down right everyone's okay with the exhaustions everyone understands the concept now Okay, great. Let's move on now. What I'm going to teach you guys is another technique Okay, a lot of things I like to teach is different from the traditional methods because the traditional methods honestly is it's made for the Traditional people and the traditional people always lose. That's why 95% of the people lose Okay, what I'm going to teach you guys here is something different. Okay, how many of you guys know what our pivot points? Okay, Carl. We have all this stuff on urban4x.com Okay, what what is basically a pivot point? We'll get into that right now. Let's put up our pivot points on our screen Let me I actually have the indicator here Where is my beloved pivot points? Okay These these are our pivot points pivot points are basically levels of support and resistance So that is correct sir dude and will be also a Similar a pivot point is basically yesterday's movements average Okay, whatever happened in the market yesterday the average of that gets plotted out as pivot points Okay, I'm not gonna get into the formulas and stuff like that, but it doesn't matter Okay, it's whatever the entire movements average is your pivot points that are plotted. Okay pivot points don't change Indicators will move as per price pivot points. Do not move. They're static Okay Now there's so many lines Dino what what you're asking me is the average the exact average is this one the blue line Which is called the pivot and then above that is the resistance one resistance to resistance three Below that is support one support two support three so on and so forth Now One thing I'm gonna teach you guys about pivot points is the traditional books will tell you if your market is Above the pivot points don't sell Some books will tell you if the market is above your pivot line Don't don't buy only look to sell Okay My concept is out of this world Remove all these words nothing to look at there. All you need to focus on is these lines are walls Okay, can everyone repeat after me these lines are walls nothing but walls Can everyone say walls? Okay, good. This is nothing but walls remember that Okay, what is a wall? It's something that tries to stop you can't really just walk through a wall, right? So Let's look at this concept. Let's go back to our one-hour chart. I recommend always trading this on the one-hour charts Okay Now the traditional books tells you everything about around a pivot point buying selling this and that all around it Forget that. I'm gonna tell you one thing when you're dealing with pivot points Look for three days worth of information The current day the previous day and the day before that Okay Everyone with me so far Three days. Yes, it's enough. No need to worry about that. Three days is enough Okay, so remember that concept three days Now let me let me show you something really neat here All right, let's keep our markets here Okay, so let's assume this is current day. This is previous day This is the day before if the pivot points the way we're taught We the markets are going long. It comes down. It bounces off this area very good bounces off this wall goes long Breaks through this wall with a strong strength It never reaches up here. It halts right here Why you need to take into factor your previous day's pivot lines also these walls They have strengthened them Okay, the market breaks through above this area. Why why does it halt here? Why doesn't it go up to the next level and stop there? It's almost like magic Okay, remember always you need to use three days worth of pivot lines That will give you a sense of where the strength is actually lying in the market where you want to Hold or exit your trades accordingly Okay Now we're gonna move even a step further now You can take a look at this one how this market comes down here Stops right here, which is actually a support from the previous day and the day before you see two lines You're almost side-by-side Coming in from here Traps in this market. It never reaches the current day's support, but it reaches the one before Okay, same over here. Why doesn't it go down till here? It stops here. It's from the day before Okay, now if any of you guys Need this pivot line. It's available on urban forex Just in the search on urban forex.com just type in pivot point indicator or pivot point indicator As seen on webinar and stuff like that if you have any issues asking the chat room everyone everyone's ready to help you Yes, one-hour time frame is Ideal for this because your pivot lines if you use it on the 15 minutes it gets all messed up Plus you have fundamentals messing with you If you're using it on the four hours your pivot points gets too congested Which is like this and you don't want to be playing with something like this It's a mess one hour is the ideal time frame sir, dude. It's on urban forex.com You can just search for it there on the search bar on the top right and you'll find it Okay, so let's move forward. Let's move forward So these walls that we're working with these levels of support and resistance. These are the walls, right? We're looking These are support and resistance levels which are telling you that the market or gets trapped Or tries to get trapped in this areas now How do you actually trade these levels? I'm gonna show you now Let me find you an example and then we'll go from there of course Right now. I'm finding in a perfect example So at least you guys can understand the concept and then we'll go to not so perfect examples So you know what is a false trade also? All right Okay, is this right here an exhaustion candle? Okay, this is an exhaustion candle. Here's why here's why we have a downtrend markets in a downtrend Okay We have a massive tail if you actually take the part of the tail that doesn't touch anything It sticks out all the way to here all this free space next thing it's bigger than the previous candle and The body is inside the high and the low of the previous candle Okay, when you have a pivot your exhaustion candle confirm it with Your pivot lens is it bouncing off a wall? It's bouncing off of today's wall It's bouncing off of yesterday's wall and What about the body? Where's the body? Well, it's also bouncing off three days ago. It's right above it It's a strong area This gives you confirmation that we are headed long You open your buy at the very next Next candle when the candle is open You place your buy on the market price Between your entry to your next level of support or resistance, where is your next wall? Is it up here? Is your next wall up here the closest one from when you've entered? No, your next level is actually down here this entire zone From here to here is your guaranteed profit zone when you've entered long here to here Nothing is gonna stop you Okay, this is your primary target Now the trend broken by higher high. Okay, you can just focus on one candle You need to look at the picture here like for example this one We have which is the direction for this for this Things that I've highlighted which direction do you think the markets are headed? They're headed up, but what about this? Take a look at this. We have a higher here, but the next high is not above this You know, it doesn't matter you need to look at the overall picture. What is that thing telling you? It's an uptrend because of the way it looks same thing here This thing right here is in a downtrend doesn't matter if there are some green candles in between the movement is a downward movement Okay, this is your immediate trend Okay over here take a look at this next question. Is this a downtrend right here? This is also a downtrend. It's your immediate trend. It's headed down You know you try to look at it from a distance. Where are we headed? Okay, this right here Downtrend we have some ups and downs, but overall it's a downtrend Okay, if you want to refine it and focus more clearly you would have a small uptrend here Okay, so there's there's various ways to look at it now The strength here is coming down and then the strength starts to starts to crumble We're starting to get tails which is showing you that there's pressure coming in from the bottom now People are getting ready to push long. Okay, not just any people. We're talking about larger players Okay, does the exhaustion candle always have to be bigger than the previous candle? Yes, because a previous candle is the indication that the market has slowed down and Then your exhaustion candle shows you that the steam is back in the market But when the steam comes back in the market the moment this thing pushes down The average person what they're doing is they're trading inside candles this and that and all of that nonsense on what they're doing is Sell sell sell sell sell Everyone starts to sell thinking the trend is actually continuing short When the reality is It's a false breakout and It stops up here giving you an indication that we're not actually going short buddy. We're going long Okay, let's take a look at some more examples Okay, this was a good example. We'll take a look at another good example and then we'll work our way from there Okay current day previous day and The day before three days worth of pivots Okay, markets come down boom exhaustion candle Yes Tail very clear down trend bigger than the previous candle body inside the high and the low of the previous candle Clear to speed from the from your naked eye good to spot from half a way away from the room you can see this It's bouncing off your pivot lines from here and from here You open your buy at the very next candle when you have an exhaustion market rarely goes against you You can see it went against you probably one pip and Then it goes long you're headed long now. How far you headed long. What is your guaranteed profit zone? Where is your next line? Your next line is it this one up here? Your next wall No Your next wall is here the closest wall seems to be over here now take a look at this look at how much congestion There is here wall wall wall you're expecting the market to have some sort of reaction around this area There's so many walls there Okay, the markets will have some reaction there is a lot of support resistance there so from here where you've entered all the way to here is Your guaranteed profit zone Makes sense everyone with me so far Sir, dude, and it has to bounce off the previous pivot wall No, it doesn't have to bounce off the previous one as long as it's bouncing off of some wall It gives you an indication that it's time to go long previous can look at this area down here. Let me show you Big candles and then it gets smaller and smaller and tails coming out of the bottom Indicating there's pressure pushing north little by little Market slows down and then suddenly Pressure comes in massive candle. It goes all the way down till here everybody in the market selling All the small traders are heading sell sell sell sell sell because they want piece of the action Because they think we're headed short and what when the reality is It's a false breakout goes back up north Creates this thing. It's basically a way to get a better price Okay, at this moment if you look at it in terms of a broker or larger players I'm gonna explain to you the the fundamental aspects of this. Okay If I am a broker Myself, okay, I'm gonna I'm gonna put you guys out of a mind of a trader and put you guys in a mind of an institution Their their their objective is not to make a profit Okay, their objective is to take your trades and run with it And the profits are made by the by the direction they run with it Okay, for us. We're trying to find the direction to make the profit. There's a difference Okay, now take a look at this What what is everyone's objective everyone in this room there's 50 people in the room, what is your objective from this? Okay, profits How do you make the profits? Okay, profits and pips by understanding all you're doing is you're just making the difference between a Certain price compared to the price you close and that's how you make a profit You're just pulling out a small chunk of the market now the larger players Do you think that's what they're doing? If they have 50 billion dollars on the line, are they looking to make 20 pips or 100 pips out of there? No, the objective is not for them. Their objective is not to make money from the market It's everything that we have to give put on the market is chimp change for them Understand the concept of money The money you have in your pocket is Actually the money that used to be in someone else's pocket and the cycle continues Okay, money itself has no value. Why do you print money? To to buy something in exchange for that money Right now keep that concept in mind now when these larger players move the market to a certain price For example, they're moving the market from a dollar twenty two cents to a dollar twenty five cents Can I as a billionaire go into a foreign country and be like listen now that the exchange rate is in my favor I want to buy these five industries because now I have a good rate to buy them at They're buying tangible goods because cash actually has no value The cash that you and I trade for is because we're trapped in this mentality thinking that cash is everything. It's not Cash was made to represent tangible goods for example gold oil Real estate these are where the real money is. This is why money is printed. You need to understand this concept Okay, so Going back to that. That's the fundamental aspect of it understanding what how the markets work Why there is a market to begin with why is there a financial market? Okay? Now take a look at this at this point. What's happening is how long has this downtrend been going? How long has this downtrend been going? This is a one-hour chart. It's been going for quite some time, right? Okay, so let's say this uptrend is here and then the downtrend started One hour is three hours four hours five hours six hours seven hours seven hours into it How many of you guys are actually gonna sell in fact all of you guys were start selling because you're like Oh, the trend is down. So the trend is your friend does start selling Everyone starts to sell sell sell sell sell sell sell sell sell if there's so many sell orders here What is the way to? Start taking them out Okay, once this thing breaks down here Additional mass of sellers come in you push it back north All the sellers are starting to are taken out as the market moves slightly up to here More people are selling Because they're assuming this is a temporary retracement like this green candle more people sell you push it even further Take everybody out. Does it make sense? This is called panic trading The market moves in a certain direction slowly The trend will always be slow and Then you will have one big shot that the market moves and then the trend will continue again slowly Okay, that one big shot is called panic trading Okay, you see how market moves slowly all the way down and then boom one shot north and then slowly all the way down again The trend resumes But at this point everyone's buying again When it actually goes down slowly and more and more people start buying It just keeps taking them out keep taking them out because people at the moment This thing happens people get into the feeling that the markets are moving fast The markets are moving fast. Everyone starts to place their money Okay, so have patience have patience when you're trading don't get so aggressive Don't jump in because you see the market moving Okay, another rule of thumb Never trade on moving data Whatever happens wait for the candle to close and open on the next candle Never trade on moving data Okay All right now let's take a look at another pair for example. Let's take a look at pound Okay, take a look at this. Oh, I wonder why pound is reacting over here Look how much strength there is here Two levels over here Okay, if you even go back to the fourth day even the fourth day level has pinpoint held it Take a look at that it holds the market. It holds the market Okay So she'll we'll go into trend continuations in a whole different day. We don't have time to look into Trend continuations to then unfortunately all right let's go further back now and Let's take a look at some things. I want to explain to you guys one more technique that I probably haven't taught in any of my other Webinars all of you guys have come out here with your time. I'm gonna teach you guys one more little technique How many of you guys know what is a railroad track? What is a railroad track? More you know Murray you're part of my conference room on 4x watchers, you know Let's see who else Okay, Ken, you know At sushi, you know not hurt up. Okay So there is a mixed mixed results here in terms of who knows railroad tracks and who doesn't know Okay, so let's look at what is a railroad track now. Just think about that word railroad track Okay, it has two lines going side by side Right Okay, now let me explain to you something like this is What we call a railroad track where you have a line like this and then you have a line like this Okay Everyone understand why the words are called railroad tracks Okay, so I'm telling you here. I'm teaching you guys something new, right? It's gonna. I'm adding to your nonsense I'm well by what I'm saying is I'm adding you railroad tracks. It looks like tracks. Yes What is actually a railroad track? Remember everything comes down to the basics literally everything You see the railroad tracks right here. Okay. What day is this 21st, January? 21st, January railroad tracks if you look on the now higher time frame What was it? 21st, January, okay on a higher time frame. We still have railroad tracks, right? Okay, let's move on a higher time frame the daily chart. Ah Now what do we have here? Railroad tracks are nothing but Exhaustion candles from a higher time frame. Okay, or exhaustion candle look-alikes That pattern is actually this pattern on a higher time frame. Okay, let's take a look at this one I take a look at this one right here an exhaustion candle on a higher time frame. Let's move down to the four hours Here what is this right here? Railroad tracks see people in the Forex market have this tendency to Rename everything and teach you all this bogus nonsense again and again and again. We're just renaming it everything CCI RSI MACD, what is all this not it's all the same thing it all comes down to the basics You know your pivot lines. What are your pivot lines? Okay according to what I see Over here on my one-hour charts. I see that this area seems to hold support resistance here This area seems to hold here. Huh an area over here seems to be holding Okay, let me insert my pivot points. Where is my pivot points? Well, what do you know take a look at this area? Is it the same? Take a look around this area Everything comes down to the basics Every indicator you can possibly think of on earth comes down to the basics Okay, people just have a tendency to rename repackage and resell things for no reason okay, so Remember stick to the general knowledge of what the market is trying to tell you Understand the flow of the market, okay, so What have we learned today? Exhaustion candles can someone give me criteria number one to recap. What is criteria number one for exhaustion candles? Doesn't matter any order. Tell me one of the criterias Trend very good. Okay criteria number two Okay, tail sticks out very good Criterion number three Okay, the candle must be bigger than the previous candle correct final criteria criteria number four Body must be inside the previous what? Yes inside the high and low of the previous candle Okay, if any of these criterias are wrong, what do you do? Okay, you don't trade if you have a doubt about the exhaustion candle. What do you do? Good you eat Okay, now where must your exhaustion candle appear to give you strength and Give you confirmation That this is a good exhaustion Yes on your pivot line bouncing off of a pivot Okay, what is your guaranteed profit area? Okay, next pivot now does the next pivot have to be from today's pivot or could it be? Okay, there you go, sir dude closest pivot from the last three days Very good. Okay. We have 15 minutes remaining. Let's do some examples We'll clear it up and then you guys will get an idea and I will show you guys where we have a group for the Pro trading strategy on urban for it so you guys can come in and just simply practice, you know We have a whole group there. We have examples and everything so you can just come there and practice All right, let's take a look at another pair. Somebody give me a pair any pair doesn't matter All right, Kono. Thanks for attending Euro yen. Let's take a look at Euro yen. Okay, somebody pick a date. What date do you want? Third of January, let's take a look third of January Where is my third of January? Okay We're on third of January. You see any exhaustion at all? No exhaustion is there any other day. Okay, should we should we check the recent week on? any of our Our charts for any pair. Let's check our recent week to see what what recently has happened, you know Was there any exhaustion candles and stuff like that now take a look at this? The reason why those cries here is exist is to save your life At this point whoever actually went long got burned out badly This is why we say the exhaustion candle must be bigger than the previous kind of the previous candle is way too big There's a lot of pressure coming into the market Okay, understand and feel the market Okay, don't just look for clues to For the market tell you buy and sell buy and sell. No, it's it's not a signal service Read the market, you know So stop looking for clues and actually look I'm trying to understand the market Okay, we have a also an exhaustion here that Worked out but not a clear exhaustion when in doubt leave it alone Okay, let's move further back. Let's see anything we have in this week Nothing, let's take a look at a different pair. Okay, Philip says 25th of February. Okay, which parrot you want to do? Euro-USD Bert Philip Is that the pair you guys want to look at 25th of February Bert Euro-USD. Okay, 25th of February Euro-USD it is. Let's take a look 25th of February over here. Okay We have an exhaustion here previous candle too big leave it alone Markets next candle Nothing there the tail on the bottom is way too big the body actually looks smaller than the bottom tail Okay, nothing there Yaha GBP Japanese yen today. Let's take a look at pound yen today Okay, I don't see anything on pound yen today. I think you're on a different time frame But take a look at pound yen yesterday. Here's a trip question Do I go along here? Yes, this video is recorded. No problem. You can watch it on YouTube probably in the next 48 hours Okay, and again those of you who are watching this video, please share it you're welcome to share it Of course and do like the video and share your feedbacks Okay, it's not bouncing off of a pivot this that okay. Okay. Okay, so step one It's not bouncing off of a pivot step two your profit potential It's right there. It's too close very dangerous So you don't trade something like that always remember try to find out if you can pull out a risk to reward Okay, now the reason why I've developed this system in such a way where you see your profit before you see your entry because if your Guaranteed zone is because this is something I was talking about with my conference room members at forex watchers today If you do not have your exit Before you enter The trade is already in a loss Okay Again, if you do not have your exit before you enter the trade that trade is in a loss Okay, if not today tomorrow if not tomorrow jaffer tomorrow, you're gonna get hit badly Remember this concept you enter for a reason exit for a reason but get those ready before you enter Okay pound, please check. Okay. Let's take a look at pound. What day? What day you want me to check on pound recent week? Nothing that I see in the recent markets. No Exhaustions Okay Naveen I stuck with the two trade there and I have no idea how to close it. Um, well You need to have a exit plan ready Yeah, how which trades are you in? Sir, dude Naveen a news release candle with the same criteria cannot be taken right doesn't matter Whether it's technical analysis or fundamental does not matter as long as you have all your criteria is matching. You're okay Because chances are your news releases are nothing but these large candles that show up And all you're doing with these large candles you're breaking large supports and levels of support and resistance. That's it Okay, and on our next pro trading strategy webinar I'm gonna teach you guys some more patterns not just the exhaustion candle, but another pattern just that's more into Trend continuation here's a little pattern here little exhaustion here Don't know if it bounced off of a pivot line, but there is one there. Let's check Let me put in some 60 weeks or something There we go It didn't bounce off anything, but it went up to the guaranteed zone for sure But there was nothing to confirm that it's bouncing off of something. So leave it alone. Don't mess with it Non-farm payroll. Okay, that's maybe okay. Maybe one news like that non-farm parallel avoid it I think I think if you still trade it, you should be okay if there's an exhaustion, but otherwise avoid it That's a that's the one. That's a little bit crazy Everything else I wouldn't worry too much. Do we avoid the correlation concept? Okay for those of you who know correlation Correlation has shifted from the US dollar to Japanese yen pairs Okay, those of you who like to trade in batches Drop the US dollar. The US dollar is no longer the currency with the center of attention. It's the Japanese yen All the money is flowing out of the Japanese yen Okay, it's been extremely strong lately. Here's another thing. Take a look at this How many of you guys have attended my pro trading strategies or seen my pro trading strategy videos from long time ago? The one that's for two hours long Okay, me me me. Okay, so there's a lot of you guys, right? I explain to you one thing. Take a look at some of these yen pairs When did we have Where is my conference room here we go Does anyone remember when we had the The tsunami, how do you say Japanese yen Naveen? JPY JPY is Japanese yen Ninja I'll get you the video. Not to worry. It's just go to youtube.com forward slash urban forex Or just type pro trading strategy on YouTube and it'll be there It's the one with the highest comments and feedbacks and likes. It's over there Okay Okay, March 2011. All right, take a look at this. Okay March 2011 where is March 2011? Okay March 2011 This scenario happened. Okay in the Japanese yen Okay at this particular moment There was a tsunami The Japanese yen started getting weaker and then suddenly Strength came in Okay, the strength came in pretty much because one week after that the Japanese yen the economy basically said that The government said we're gonna pump unlimited funds into the stock market as much as needed. Okay everybody assumed that Whenever the scenario happened, that's when the weakness took place. Okay. Yes, this little thing that you are considering You're probably like, okay. This is probably because of what happened in the market, you know somewhere this little dip in rise Okay, this is all psychological based Okay Again, what I told you guys is Paperwork needs to be processed Okay, if if I'm I have a 50 million dollar house and It gets burned down to the ground Which insurance company is gonna be like while it's burning they write me a check and say here's your money. They cannot Once it's done the investigation this and that they need to check everything Then once they do that if they have to pay me that 50 million dollars They need authorization from their manager senior managers or whatever file the paperwork put it into accounting put it into all of this Processes and then say aha six months later. Here's your check You know, it's not a small amount the bigger the amount the longer it takes remember that concept Bigger the amount the longer it takes so if if the economy starts to get ruined in Japan and All these big players have to start pulling out their money Their trust from the from just Japanese markets Are they gonna call up Japan and be like close down my company send all my money back? It takes time takes time and that is probably one of the reasons why we're seeing this massive effect now And it's not a small move, but it's a large move. Take a look how strong this is It takes time. Remember paperwork must be processed Okay, everything you see on the news Psychological okay, what about market makers? Remember market makers are simply like brokers. They're looking to just collect orders Okay, remember one concept like I told you guys in the beginning Okay, as a trader we look to make profit from the buying and selling as a market maker You're looking to make profit not from the market, but from whatever you have to give me as To put money into my brokerage account You move to the next level and then you have these bigger players where they don't care a rat's butt about the markets They just cares what price can they get on? The currency so they have a good exchange rate to go into these foreign countries and Buy whatever they need to buy at wholesale prices Make sense and that's how the the money is being pushed around up and down this and that and You will never see the Forex market overnight go bankrupt You know there there's no such thing because governments are involved central banks are involved Okay, it's not a corporation where the CEO gets up one day and says hey, there's more to life So I'm closing down my company. I want to go to the beach. It doesn't work like that with the government So you need to understand these processes Okay, so the Understand when you understand this process you need to understand where you stand in this entire process and You need to understand that I am a speculator Which means I am looking to make money from the swings in the market The smaller the time frame I go into this I'm not coming out alive If I scalp I'm the fastest one to die Understand that okay, I Also taught this earlier in my forex watchers conference room is the people who are passive traders Earn the most amount of money Compared to people who are active traders Because passive traders don't have any emotions They come in they place some trades and they leave they don't have time They don't have time they have their own personal life to take care of if you come in as an active trader If you place a trade based on the four-hour charts or the one day chart or the daily charts You're gonna finger that thing. You're gonna keep pressing buy and sell until you really You know kill that trade somehow Because the markets are moving in front of your eyes and you keep messing with it So if you can Trade on a higher time frame become passive. That's one advice you want to take from this call this webinar is try to be Passive as much as possible if you're active then enjoy the movement Then enjoy the thrill of the market. Don't try to make a million dollars overnight. Enjoy it Okay, you're not gonna make much money as passive traders will make less money, but enjoy the swings and the flows and What you're actually why you're in the forex market is the thrill because every day is different It's not like a job where every day is the same thing Okay, all right Let's see Meaning-setting take profit and staple stop loss Take profit and stop loss if you're doing singular pairs. I would I would I would do that Remember if you're putting your stop loss and take profit on higher time frames The brokers are not sitting there to take you in or take you out. Okay It's a little bit too far for them But if you're there and your take profit is 10 pips above and your stop losses two pips below like dude come on Give me the money. I'll take it Okay, I know most of this recorded in the vein and could you send the link? Sorry about that. Yeah, Linda. No problem It's gonna be on YouTube in the next 48 hours and once it's available. I will Send the link out to everybody on urban forex So better possibilities on trading with Japanese yen pairs includes pair Then the standard seven pairs you're talking about in previous videos. Yes So the shift has happened the US dollar is no longer the hot shot now. Take a look at this Swiss Frank daily chart which direction and The last one month Okay down Linda. No problem. No problem. It's okay Like I said, I'll get you the link if you don't get it. Just message me. I'll get it to you Okay. Oh one more thing for you guys Try to avoid messaging me on urban forex because I cannot get to it on time Any question you ask me everyone in the in the car in urban forex calm can answer So please just openly ask in a discussion or in the chat room People are more than happy to help you in urban forex calm. Everyone's really friendly Nobody gives you a vague answer like oh, how do you do this? They don't say just trust the markets Nobody says that, you know, everyone's willing to help you here so Okay, the markets are headed down on Swiss Frank a Japanese yen pound Japanese yen daily charts Last month also headed down Take a look at cad yen daily charts The last month also headed down. So you can see the yen pairs are correlating They're all doing the same thing for the last month month and a half Okay, how's the FX mentor? What is the FX mentor? Okay, so should we be revising the pairs that we should use the basic strategy The pairs would be the best on if you're using correlation use it on Japanese yen pairs if you're creating single trades then go on to The regular pairs at sushi For those of you guys who are in the internship program We're gonna put you into the conference room because I'm I really am unable to Get to the internship program on time and staff is really limited in our side So everyone on the internship program is now going to be in our conference rooms on forex watchers So congratulations, you guys are in the thousand dollar program Okay. All right You were saying about inviting FX mentors. Yes. Yes, I will I will start to invite them But do we need to make sure what type of mentors we invite? I think I'm starting a blog also on forex watchers where we're gonna Share educational information. That's actually useful. I will I will try to look at them myself That is this just a basic thing Remanufactured and selling again, you know, or is something useful? Okay, everything comes down to the basics always remember that Armando, so do you use weekly and monthly pivot points? No only daily An avian forex watchers is a paid site. Yes. Yes, the fore the forecast on forex watchers is free It's my contribution to the forex world. I made it free So enjoy yourselves. We've been voted the the sixth most read analysis on FX Street And We just keep being featured there. So we no longer charge for the forecast, you know, we've done our part We've got the recognition Now enjoy well, we'll share it openly All right, so that's pretty much it guys Remember everything that I've taught you if you do not remember no problem. It's gonna be on YouTube There's any questions Everyone on urban forex comm knows the pro trading strategy. You're welcome to just join and openly ask questions Okay, there is a group. Let me show you where the group is on Urban forex the moment you join in towards the bottom on your left You will see the groups here with 229 members as pro trading strategy. Just click on that and Once you click on that you get a second while it loads. I have really high-speed internet here Give it a second. It opens up. You can join the group submit your Screenshots any questions, maybe you have a better indicator Maybe you want to refine the strategy with some techniques you have. Please do share, you know Everything is important So there we go. We have, you know, multiple discussions in here batch trading robots and all that stuff to help you All right guys, so that's pretty much it today. I thank you all for attending and I will see you guys next Wednesday for our next webinar and Yep, if you have any questions, let us know. Take care guys. Have a good evening