 get started welcome to the first recap webinar of the urban tower scalping strategy this strategy it was actually released by me in 2009 and since then it's been on every major forex forum and publishing on the internet and with five stars across the board on every single form now many of you guys are fans of the strategy some of you guys are actually just members of my social network which is at urban forex.ning.com and some of you are just new to this probably saw an advertisement and just walked in so let's get started on the strategy let me first go over the strategy there are several pairs I look at and let me load up the charts for those of you who do not have this rainbow indicator that I'm putting up right now you guys can get it on the forums page on urban forex.ning.com under the forums when you come up to the strategy it is towards the bottom of the page below the video you will see the zip file which is the indicator if you do not know how to use the indicator please let us know in the chat room somebody is more than happy to help you get that installed okay so let's load up our charts here we're going to go through what happened the entire last week before we do that we're going to go through the strategy completely in case some of you guys have been trading this wrong or got the wrong impression of how this works okay let's take a look we have more members coming in right now still as we speak let's see sorry here we go let's put this on gold too let's take a look at gold I've never looked at gold so let's take a look at gold with this as well okay now this strategy I personally really really dislike indicators as you guys have probably known from all of my previous webinars but the way I've created this strategy is we were combining price action with a moving average okay now what we're doing is I've put together several moving averages and with these moving averages we're looking for a price action to happen around these lines now what this means is let me let me show you an example okay let's go down to the 15 minute chart let's take a look at the let's let me see if I can get you a clear example now it is recommended to use the 15 minute chart um if you guys are scalpers otherwise the one our chart is obviously ideal for this strategy now what the strategy basically does is we look for a trend now once you see these ma's expand you see how it's contracted here it's all together and really tight and you can see over here it is getting wider and wider okay um let me get the questions open in case there are questions I can see them okay all right so once to get a little bit wider you know that there is a trend in place then the trend is going with the moving average what we want is a retracement from the market which is something like this that we see the market goes back up and it goes and it touches our ma's now it can touch anywhere any line it doesn't really matter as long as the chart does not close I mean the candle does not close on the outside okay and what we're looking for is three consecutive highs okay now on and on a when you have a downtrend we want the market to retrace upwards you want to have a higher low which is right here another higher low another higher low and we have another higher low we need at least three okay once you have three you take the highest low after the touch and you want the break of that break of that line is when you enter so if we take this one by one you know we've had a higher low higher low higher low and we've actually even had a touch so on our next candle we've had a break right here that's when we enter our short stops at the tip of our exhaust our our candle that touched the uh the moving average that's where your stops would be and you would be taking it short from here okay you can use one is to one ratio you guys can use any exit strategies that you guys like a lot I have an intern who blogs this every single day he's been doing it for the past six months and his blog is also available on our social network it's also available on wordpress and he does a one is to one ratio and he trades with several different pairs and he averages anywhere between 50 to 100 pips in a day some day is good some days bad obviously okay I see there is a hand raised any any questions let's go go over the questions if there is any so far Karen Hineveen first time on the live webinar thank you you're welcome Karen welcome to the room the properties of the ma is okay I do not have the properties of the ma as I pulled it out of another system and I looked at this indicator it looked really nice you can get the indicator on our website which is urban4x.ning.com here it is on top and you can just go on to the forums and once you find the strategy or you can search for it on the site and right below the strategy below the video is where you will see the indicator file bed a you said you cannot see my cursor I don't know if you can can't see your screen correctly okay it looks like my my cursor is stopped moving so let me refresh my my screen once again real quick okay let's get rid of all these questions okay but Steve he says lagging really bad wondering if it's just me um just want to confirm with all you guys can you guys hear hear my voice at least clearly or is it just uh my screen that's having little problems okay I'm going to reload the screen just now just a moment please okay let me know when my screen does come up and once you see my mouse moving again it is up now for Karen my name pronouns bead like around around the neck okay bead okay great great sorry about that so we will keep that in mind be theory it's working our screens up mouse is good moving moving uh yes the rodent is moving now okay all right here we go so let's let's continue now now we see that the market we want to have three consecutive highs once it reaches our our moving averages once the touch happens you want to create a line just below the candle that did the touch and then you see do we have at least three consecutive towers this is how we got the towers we have one tower we have two we have three and four you can see it's slowly moving up if you take the trend line and you put it from the bottom and you connect the lows you can see it's heading upwards okay once this happens and it bounces from the ma we enter short at the cross of the lowest at this line right here the break of the low of the candle that touched the moving average we enter low and you can start with one is to one ratio or any other exit strategies that you like now we let's continue down let's look for another example and uh i'm going to start explaining different techniques different methods i'm going to explain how to use your stop losses we're going to explain how to maximize your profit because many of you guys who are trading this that you're getting five pips 10 pips out of this which is fine but it's not worth it to get into it for five pips 10 pips if we're talking about 50 pips 100 pips then we're talking business so i'm going to teach you guys how to do that with the same exact thing that you're seeing on your screen just how to multiply your pips not your lot size multiplying your lot size is the wrong thing to do okay so now um bead you're asking what is a tower it is basically a candle candlestick that is approaching the ma we call that the towers consider this the ma as the sky okay um on this particular one uh the market is in a uptrend you can see that the ma's are quite uh open they're they're not too congested they're quite open the market touches the ma on this particular candle to begin with so once that happens we want to see is there three consecutive um highs on this one on a look on a downtrend we look for highs you see this is the highest tip right here this is the next highest tip it's a little bit lower this is the next highest tip it's even further lower we have three now one two three once it touches you want to keep your uh line at the tip of the one that touches the ma we want to wait for that break so the next candle opens up did it break no but have we closed outside the ma also no so we want to move this line down to the next candle to get a even more precise entry now we have another candle that has touched the ma but has not closed on the other side so at the break of this line we are going to enter along okay we enter along on this particular line right there and our stops can be on the other side of the ma or the tips like most people usually do it and you can go for a one is to one ratio or obviously any other exit strategies that you like the strategy is really really pretty good um in terms of filtering out bad trades using these ma's and you guys can get even better if you add additional pairs to it so before we continue to the additional pairs I just want to make sure everybody is on track right now based on what you guys are seeing because everyone understand um how the strategy works I know many of you guys are previous members of the strategy okay so um jitesh is asking so is it okay to enter on moving data no uh yes actually yes you will be entering on moving data on this one but you guys are using a closed candle to determine where you're going to enter okay so you guys will already be placing your orders your entry orders before the the next candle even open or when the next candle opens okay Steve so far so good Andrew you want a quick summary okay we'll do a quick summary and um Karen saying so Navin we would enter on the break of the yellow line and the trade you were just talking about yes the moment the yellow line is broken you would be going in a long okay um okay so let's go through a quick summary we'll go through uh another one or two examples and then we'll get into the little bit more advanced methods on how we can maximize profits and take it from there now we're going to go through a good trade and we're going to go through a false trade okay and so you guys can know what is the difference here is a good trade we're looking at we see the market is in a downtrend the market starts to retrace starting from here starts to go up towards the MA which one touches the MA first none of this touches right this one doesn't touch this one doesn't touch this one doesn't bam we have this last green candle that's touched okay first thing you need to ask yourself has it crossed and closed on the other side of the market no okay which is a good thing okay do we have three consecutive towers to reach this area you can see that there was a lowest here and then a higher low a higher low and then a higher low we have at least three now okay another check okay and is the MA is congested see the MA is here our little bit opened up you can see through them practically but can you do that over here no it's too congested you can't see through each MA over here you can so all things criteria match once we have our first touch we keep our line at the lowest point of that candle that touched the MA's okay we this candle now closes we have our entries to sell at this yellow line the next candle closes has it touched no has it crossed to the other side yet no are we still creating additional towers yes so we move our yellow line to the lowest point of the next one so you're moving with the market if you catch my drift okay let's put this line here okay and suddenly the next candle opens you can keep your stops at the tip of your candle that touched the market first or the highest point or you guys can use the the particular candle that broke through you can keep your stops there for an aggressive stop and you will you're gonna be entering short under this particular tray you're going with the trend okay you enter short at this yellow line down here and you're going for a one is to one ratio or more so majority of the times you will book profits on this particular case okay okay now we've gone through a good example now we're gonna go through a example that would not work I'm currencying so we could put it in a pending order yes as soon as the candle closes put it in a pending order Steve so are you saying do not take the trade if the MA is congested yes do not take it if it's congested if you are taking it when it's congested it's considered an aggressive trade when it's congested you're most likely in a sideways market so this will help you filter the sideways market momentum okay so do not trade in a congested MA okay let's continue here okay now here is an example of a trade that did not work okay now when I say did not work does not necessarily mean a loss okay let's take a look we have a our MA's over here you can see they're not congested we can look through them they're nice and beautiful and we have our candles we see starting to retrace okay we have one we have two and actually we starting to have a touch now one two three right here so we put our entries right here and we want to sell at the break of this okay has the candle crossed outside to the other side of the MA's no have we have at least three towers yes we have a low higher low higher low we got three now okay that's also a yes okay is the MA's not congested yes it's clear so we have our entry place now next candle same situation everything is a yes we trail it still it did not cross through it did not break now we have another candle now the situation has turned we have closed onto the other side okay the candle has now closed onto the other side of the MA now the trade is void you end up not entering this trade whatsoever nor do you take a hit because you know now the trade is voided because the candle opened on the other side now looking at this does this system perfect no it's not you will have some losses of course nothing is perfect but just to be on the safe side if you watch for the congestions and if you keep these rules in mind it will help you filter out bad trades okay now we have questions um let's take a look at this does the colors matter no the colors do not matter treat the MA's as one whether it's green or blue does not matter all the treat the MA's as one okay and let's pull up the questions Voldemort I think you had a question I see your hand up um where is my question box there we go okay Ned that's a good idea I mean to show us bad example so we know what to avoid yes Ned I will show you more bad examples as we scroll through the charts right now I'm just showing you guys one single pair okay um can we take hammers or shooting stars into consideration yes we'll see you guys can take any formations on or around these MA's um obviously if you have hammers around these MA's even it's perfect for example the trade that we just looked at earlier uh which was which one did we look at this one right here nice hammer formation exhaustion candle or a pin burr whatever you like to call it gives you a heads up that okay market is going long no matter what you know it's just a short shot so there are several examples like that so yes you guys can take it into consideration now let's let's continue on here okay Andrew what are the MA's uh uh exponential or simple honestly Andrew I do not know I you might want to check with some of the people on our website to ask them in the chat room and maybe they might be able to open it up and find out the MA settings for you but the MA's are pretty the indicators pretty much ready on on the site you just need to download it and put it onto your screen I've not really opened it up to uh look into it uh in detail so let's let's continue here now let's move further back let's get you one more example I'm gonna ask you guys if this is correct or not correct and you guys will let me know okay now this particular one okay the mark the candle has touched the MA do we have a trade here are we gonna go along at the break of this yes or no and why you guys can let me know and then we will go over it we're gonna give you guys 60 seconds to answer this question okay Sonya says no okay correct Voldemort says also no because there's two towers only very good okay no there are no three three towers um bead uh actually it's a no uh we'll go through it why Andrew no we'll see him no Tony no Karen uh okay we'll go through it okay okay so most of you guys got this right um few people just some questions not a problem okay let's write this down there's three criteria we need to look at and only three criterias yeah let's write this down and let me increase my font size okay one we need to check for is it congested the ma's next thing we need to check do we have three highs three higher lows or do we have three lower highs okay can be a little confusing here but i'll explain that to you and finally um do we have did the candle close on the other side okay these are these are the things you want to look at first if any of these things are incorrect trade is voided okay so let's go through this is the ma's congested on this no so that's a good sign that's a good thing you know we'll call this a plus do we have three higher lows or three lower highs let's count we have one and then we have two the one previously is not in a trend so that makes it invalid in a downtrend you're going to have three lower highs okay this is for a downtrend and this will be for an uptrend okay don't worry you don't need to write this down i will have this video recorded it'll be up on youtube and the websites everywhere you can think of it'll be there so um yes this is an uptrend this is a downtrend and did the candle close on the other side no so from all these criterias one of them was incorrect so this all and all would be an invalid trade now moving forward let's take a look let me minimize this i'm going to ask you guys one more question also 60 seconds to answer is this a good trade and trade number two is this a good trade trade number one let me know what you guys think and also trade number two let me know what you guys think okay valdermere aggressive trade good good um bead clukes steve uh there are only two candles in a row okay sonja good totally yes number two is also yes trade one and two are good valdermere says yes and yes well seam says trade two is good bead says no and yes uh steve says trade two is good floyd says trade two is good andrew says three n okay now to answer this question trade two is obviously good that is correct okay trade one okay let's take a look here trade three is correct let's go through trade three first and we'll go through trade two afterwards because trade two can be a little bit tricky so we'll go through trade two a little in a second trade one in a second let's take a look at this one first let's get rid of this okay where do we have our first touch we're going down and we have our first touch here are we congested let's go through these questions are we congested no so that's a good sign we're in a downtrend so downtrend means this one do we have three lower highs let's take a look on its way down to here before it touched we have one high here a lower high another lower high another lower high okay now we placed our entries at the tip of this on the high side we want to break break above this is a long so this candle closes and the next candle is running now this candle closes still we haven't had our entry yet what does that mean we go through all the criterias again we're still touching the ma we haven't crossed outside we're still having more and more consecutive towers so we move our entry even tighter now we're down with here our stops are now placed at the tip of our recent touch and you can see at the break of the next candle we are now long we are going long for this trade and the trade did go long in our favor if you had a one is to one ratio there's nothing stopping you okay so in this particular trade yes we went through now let's take a look at the first example we had our first touch over here do we have three consecutive lower highs okay we have one and the second and third one a lot of you guys said they are the same height here's the thing when in doubt leave it alone okay this trade was perfect but when in doubt forget perfection leave it alone do not trade it's not worth risking your money over it okay only trade when you are certain and don't think that if you miss this trade you're going to miss a chance of a lifetime no it's not that's not the case there's so many pairs that you can trade this with and there's so many opportunities every single day so never stress on am i going to miss it am i going to miss it am i going to miss it you will not miss it okay so again when in doubt leave it alone okay so steve trade one is good okay andrew calling uh jitesh both trades are good okay now karen's understanding okay one and two is good what is the best time frame for this i personally prefer one hour it gives me enough time to fool around and do whatever i want and come back and look at it only once an hour but for those of you who are really aggressive and like to really stay on the market 15 minutes is also good a little bit choppy just watch the news stay away from the news otherwise if you want to ask me my personal preference stick to one hour okay karen there is always another trade yes there is always another trade would rather be out of a trade wishing i was in than in a trade wishing i was out well said well said ned that's good advice when in doubt leave it yes um oh a seam are there any ideal pairs for this strategy ideal pairs for this strategy is all the pairs that have small spread okay that makes it euro yen euro usd sometimes pound dollar um i believe uh those would be the tightest spreads okay doesn't don't worry about the spread i'm going to teach you guys a technique on uh how you guys can take this into your favor where uh you guys can maximize your profit and many of you guys from my social network who trade with me every day on the chat room you guys already know what i'm probably going to be bringing up here in terms of correlation all right so we've got 27 minutes to this webinar let's let's uh use time wisely and let's continue um tony says do you have an alert or a manual ea for the setup uh that's a good point um we don't have any alerts for this but there is an ea out there uh in fact maybe three ea is out there i remember um in 2010 and 2011 people emailed me saying that they wanted my permission to release an ea for this so i know there are ea is out there for this maybe on forex factory or forex tsd uh dot com one of these two websites uh just need to look for it and if you do find it please post it onto our uh onto our forums as well and share it with us we'd love to uh put show it on the next webinar and discuss it um in fact uh one of our organizers in this room roi who's also a member of our network saying i will be making one so he's a programmer he's gonna be making one so if you guys want you guys can talk to him on our social network he's a pretty nice guy he's very friendly so he's he's making one okay so uh for those of you who are new who do not know much about forex and ea is basically a robot that uh trades on your behalf for you it's like automatic trading it looks at the criterias that you give it and it trades for you so that's pretty much an ea so imagine doing all this hands-free okay although it is more fun watching it and doing it yourself it's always fun okay let's take a look at this one okay good trade or bad trade let me know on naked charts can we guess or track the entry of the strategy no um you will not be able to you need the ma's on this how do you take a set up take profit okay uh valder will once we discuss this particular trade we're gonna go into take profits and stops cursor is stuck okay let's reload the screen i just turned it off let's give it a few seconds i will turn it back on um for those of you who are late um that's okay i'm always late myself so don't feel bad uh i am recording this webinar so it will be up on youtube in case you do be getting part of this but we're gonna start getting into more advanced things so we're gonna give it another few more minutes while we discuss a couple more entries and and then we are going to go into the advanced take profit methods where we can maximize profits and take 50 to 100 pips at a time rather than 5 to 10 pips okay screen is up again everybody even says yes and my mouse is moving okay jared is this strategy more profitable than your 10 pips a day strategy yes it is more profitable um this is my second favorite strategy after my price action strategy uh those of you who are members of my premium website forex watchers dot com um we use you know price action analysis but if i were to give that up uh then this would be the strategy i would be trading okay so my pro trading strategy is obviously my number one strategy but uh this would be my second best okay let's continue here so yes uh let's take a look at this one this particular arrow is this a good trade okay yes yes yes if a candle goes bead if the candle goes past the arrow is that any part of the candle no just the clothes like these little long tails that you see they can go as far as they want that's not a problem but this this thing that's filled the the chunk red or the chunk of green that is called the body the body should not be on the outside the tails can go as far as they want okay now let me know if that makes sense speed karen says yes son yes is good jitesh says yes good trade very good andrew yes yes yes yes okay good job good job okay this is a good trade okay mark it it retrace we can see the ma is clearly we can see through them it is not congested we had uh consecutive uh lower highs at one two three four even five and this would be our entry would end up being here okay we would enter at the break of of this tip and we we shot up okay okay not go bead it does uh doesn't have to go past it it just has to hit yes as long as it touches the ma okay it can go past it but it should not close on the other side for example the the body should not be on the other end the tails can come out no problem okay yes good trade karen's have three or three towers touch the ma's uh you don't need three towers to touch them even if you have just one touching the ma that's fine okay and abhijit no as in you do not understand or you do not agree that this is a good trade okay um just write down your question i'll come back to that now let's take a look here now people ask me i think valdemar you asked me is uh take profits you entered here right this is where you went long for example let's say you're trading one standard lot you want to go along here and you have your stops at the previous tip which is right here how many pips far away is that take it accuracy we'll talk dollar amount so it's a little bit easier to understand 43 pips away that means $430 away if you're trading one standard lot if you trade a one is to one ratio you can go up for 43 pips which means $430 which would have been achieved in within the hour maybe 15 to 45 minutes okay so my interns usually trade this on a one is to one ratio okay i think uh if we google it really quick and don't the i think it's urban towers scalping strategy dot wordpress.com let's say it's a big mess um urban towers helping strategy okay yes if you just google it it should be the first result you can see he's been uh documenting every trade that he takes uh for the longest time um he's no longer on there on wordpress anymore he is now on our social network and uh he's on a leave right now so once he comes back you'll be documenting again he's on a vacation so anyways let's continue here um where did we go uh yes charts okay so one is to one ratio valdemar to answer your question okay your cursor is not moving again oh no okay let me stop and restart it once we're done with this we're going to go to today's date and see if there was any particular trades today that has happened or is going to happen right now as we speak and uh and then we'll go into some advanced methods which has never been shared before on youtube for this strategy okay it's working now okay great what about pivot points should we look at it uh you can if you want to go for more precise exits always use pivot points pivot points are the best thing ever okay and what if you do not know how to use pivot points properly youtube pro trading strategy by urban forex you guys will know how to use the pivot points very accurately because what they teach you on the internet is useless it's crap so i i think i can say crap on the internet that's fine okay but yeah um just you can youtube pro trading strategy by urban forex and you guys will see how to use pivot points very accurately they're very good for exiting trades okay so that will help you maximize trades now screens up everyone can see the screens now is it good just a white screen i have a blank screen okay no no no no okay one more time let's let's do this again turn it off on okay and how many of you guys while the screen is loading how many of you guys are familiar with my pro trading strategy um have you guys seen the have you guys attended the webinars have you guys seen the videos are you guys following up with it Karen uh naveen try omnavia for your webinars are not that bad okay uh i will look into them um novia yeah i will look into them we'll give them a shot yes yes partly yes b yes very good okay so we we um we will be holding weekly webinars for pro trading strategies because i do see there's a lot of people still um behind on in our chat rooms we trade the strategy every day live in our chat rooms in our network and i do see a lot of questions so i think i'm going to start holding weekly webinars for the pro trading strategy um floyd you have such a positive cool attitude thank you floyd uh you we have to keep it that way right again analysts we have a bad reputation for confusing people but let's let's change the things around okay uh karen i watched the video but not uh having a lot of success with it i'm trying to get the money together to become part of your premium group eventually uh yeah take your time there's no rush the premium group is only there to pay for urban forex to keep it alive so if you guys are a part of the premium member premium group on forex watchers dot com you guys are obviously doing a lot of pips especially for this month so um anyways leaving that aside let's continue here screen is still blank for you theory um everybody else is okay bead back screens up okay theory just see if it comes up otherwise try re-logging in uh what is the approximate win-to-loss ratio for urban towers a win-to-loss uh i would say you should have approximately from 10 trades you should have seven to eight winners and the losers that you have should be small shouldn't be too big because your your stops would be usually tight okay screens up okay okay everybody has a yes let is let us continue here okay now we went we discussed that this is our entry area for this particular trade let me put an arrow on it this was our stop which was the lowest tip and you can see our stock was how many pips away 43 pips away so that means if we use a one is to one ratio we can go for a 43 pips of take profit so on a standard lot that would mean 430 dollars which would be achieved in a matter of an hour on this particular trade sometimes it takes couple of hours to reach that level okay now uh uh uh um okay thank you thank you ned okay that's a good compliment right there okay okay all right um now looking at this now if we go up 43 pips now let me put the lines on here now how many candles did we have to look at to take this trade we took the entry candle we took one two three four candles previously to determine how many powers we have we took four candles right so if you enter a trade we looked at four candles in the past which means four hours worth of data can we keep the trade running for the rest of the day okay the answer is no if the trade is not going in your favor for example it did not touch your take profit but you are in profit people choose to hold if the trade is just minus five pips but it did not touch your stop people choose to hold how long do you hold okay do not hold very very long it is very dangerous only hold as much as far as your analysis goes back we've looked at four candles in the past you can hold your trade only for four candles in the future okay maximum five but past that you are gambling you are no longer in the analysis zone it becomes a gamble okay so just keep that in mind okay okay how tight do the lines have to be to the ma before the trade is no good the moment wait steve can you repeat that again how tight do the lines have to be in the ma before oh okay okay you're talking about the congestion okay let's take a look at a congested area okay can you actually look through all of these ma's can you look in between all of them and and see black space you can see them right now in this particular area right here okay let me put an arrow there you cannot see them through you can see the first two ma's are touched together okay it's that's the congested area it's too tight you can't look through them same same case goes here it's too tight okay you need them open like this okay so just keep that in mind okay great now let's get into some advanced methods this is where the fun begins let's take a look at today first and see if we have any potentials today on euro usd any trades yes or no i'm gonna ask you guys okay let's move them out here let's show you my screen any trades yes or no for today on euro usd no karen very good pound any trades no mihalaya very good okay us dollar cad any trades today andrew says yes karen no ned no mihalaya no okay now the reason why you probably said yes andrew is right here you see that touch right there three consecutive and the market goes up try not to look at the market going up it it you know we we at that very moment when this trade actually came to existence we didn't see the market so as of right now all you need to do is look at the ma's it's too congested but once we look in the future yeah obviously we know that it's a nice trade it went in our favor but um try to look at it as realistic as possible okay so there's it's no trade because the trades are congested again um these rules are very important and once you guys have this on youtube or if you guys want to take a screenshot or write this down you guys are welcome to do that so let's uh move on let's take a look at us dollar swiss frank any trades today no okay good Aussie dollar any trades yes yes no yes yes yes okay good those of you guys said yes very very good let's take a look at this we have a very beautiful trade on Aussie dollar that happened today and perry says yes also even our organizer is excited now okay great let's take a look at this now um right here is where we have our first touch okay oh sorry bead it says great country yes okay well so we'll work on the great country's currency pair right now now take a look at Aussie dollar right here okay we have our first touch right here okay what things do we need to check is it congested no we can see through clearly check do we have our towers and we're in the uptrend so we're going to look for higher lows we have one we have two we have three check okay did we close outside of the ma onto this side no checked all right here is match we place our entry right here the next candle opens we place our stop right there now how many pips away is our stop 24 pips away 24 pips in our favor would mean approximately 240 dollars or let's just say we're a small trader we have we're trading with one mini lot okay 24 pips would mean how many dollars and a mini lot 24 dollars okay the average person in this room cannot survive on 24 dollars a day that's Starbucks money you know there's there's no way 24 dollars a day would be okay for me actually I'm in China but for a lot of you guys in Europe and the U.S. and in the States it's it's not possible so what what happens when it's when you're trading a small amount like one mini lot and you get 24 dollars you made profit but it's not enough what happens then your psychology kicks in and you want more and that more can ruin things okay now there is a way to control that by correlation when you do correlation I'm going to tell teach you guys how to maximize profit and and book so much profit that this same trade will get you 200 300 dollars or more and at the same time you will be satisfied okay now we'll go through that now Karen would the MA's not have been too congested no because I'm maybe from your screen you're not able to see it's not as clear but you can easily see through all the MA's there's enough black space between each MA and none of them are touching together okay Karen I am in Ausiland okay great great great that's great it's it's I really want to visit there one day so we'll see how it goes and maybe I make a trip out there and New Zealand because we have another member there and nearby named Brian okay B three towers congested only when you zoom out okay we'll we'll take a look at that and Abidji now I understand the strategy okay very good Karen nope I would I would starve and the bank would only take my house okay yeah so 24 dollars is not worth it now let's go through let's go through our correlation methods now guys write this down okay I'm gonna put this up for you Euro USD pound dollar okay Australian dollar US dollar New Zealand dollar US dollar Euro yen sometimes even gold the pairs above this line work together the pairs below this line work opposite so Aussie dollar we're gonna sell that means we can sell all of this okay now you remember Andrew when we looked at US dollar CAD at that very same time and you said that there was a trade but we said no there's not a trade because of congestion tell you what in this particular case now now that we're looking at correlation this is a win why because Aussie dollar we have a sell what does that mean Aussie dollar is a sell means opposite on these two pairs which would mean buy on these two pairs now we have a touch on US dollar CAD we have a touch on Aussie dollar let's take a look further down New Zealand dollar no touch but the market did go in the same direction Euro yen okay where what time was this let's put this all together we have a sell at four o'clock Euro yen let's take a look at four o'clock on my screen okay we have a small sell not too much okay so profit there as well gold four o'clock let's take a look four o'clock sharp drop as well so let's say the average one let's let's take a look at gold okay 59 pips on gold Euro yen how many pips on Euro yen uh drop on average 14 okay New Zealand dollar dropped a big chunk itself more than 40 50 pips so let's say Aussie dollar was your only pair that gave you a perfect formation you're looking at Aussie dollar only and when you do one is to one ratio the moment Aussie dollar closes all of these pairs you must close always follow the perfect one but by the time you close all of these pairs you are no longer standing at 24 pips but you are rather standing at probably 200 does that make sense to everybody okay great great so that's the main thing right now is is it's not that you want to increase lot size for this but you want to increase pips because when you have your analysis correct increasing pips is a piece of cake but if you increase your lot size you're trading on one pair you're increasing risk at the same time okay so be very careful with that okay now we are approaching 6 30 p am eastern standard time which means the close of the webinar should we do one more example before we close it and should we do it with correlation okay yes yes yes okay we're gonna do one more example and this time i'm gonna have you guys look at this okay i'm gonna go back a few days let's take any random pair okay give me a random pair guys which pair you guys want to look at i'm not gonna pick and choose i'm gonna let you guys pick okay karen says pound dollar okay we'll use pound dollar okay somebody give me a random date in march for example okay andrew says to 12 march 12 pound dollar let's take a look okay let's go to march 12 march 12 is here any trades on march 12 for pound no okay beat very good let's take a look at euro usd on march 12 any trades on euro usd march 12 andrew says no good us dollar cad march 12 take a look any trades here okay mihalek says no swiss frank march 12 any trades there let's take a look no ozzie dollar march 12 any trades there okay nothing there new zealand dollar march 12 let's take a look at that nothing here euro yen march 12 any trades here uh karen says march 12 was a monday that would make much of a difference to difference to opportunities naveen trying doing this on a monday no that's not the case karen there's always a trade there's always always a trade ned no uh bead this is the second method i have seen you talking about it seems based on similar principles there seems to be a rational behind what you're doing this is this right yes i always uh try to bring out the point of seeing the market as a whole rather than trading one pair at a time adding a million indicators on it trying to find the golden trail it's not going to work we i try to train everyone to look at it look at the market as a whole to understand what is going on in the market turn off the tv turn off the news you don't need to watch that it's really useless but coming back to euro yen is there a trade on the 12th valdermer says yes yes yes okay there's a trade on euro yen on the 12th let's see do we have a trade now let's take a look i see a pair right here okay we are outside our zone now we have now touched it do we is it congested no do we have three towers we have a low higher low higher low that makes it three check check check have we closed outside onto the other side no keep our entries at the tip of this our stop over here at the tip of that what is our 17 pips is our risk and we've touched 17 pips just on target one is to one ratio okay 17 is to 17 now it did even hit it further down three hours later it did also hit even further up to 2022 pips without hitting our stop so you're gonna get the profit regardless now the only thing is 17 pips 170 dollars or 17 dollars not much let's take a look at the timings let's do the correlation for this at 7 p.m we short euro yen okay sell at seven okay 700 hours so if we sell on euro yen does that mean we sell on us dollar swiss frank and us dollar cad no we buy good good okay just checking if you guys are sleeping or paying attention good good okay okay so let's take a look we're gonna sell everything at seven okay euro usd 12 o'clock uh seven o'clock on the 12th seven sell did the candle go down yes pound same day at seven okay a short move only possibly a loss because of spread no problem continue cad seven we're gonna go long at seven on cad okay spread lost right there swiss frank seven gonna go long seven a decent rise ozzie dollar seven we're gonna sell a decent drop new zealand dollar seven we're gonna sell a decent drop euro yen we already know gold seven on 12th let's go back to the 12th at seven we sell minor drop so putting this all together would you have made 300 pips off of this one no but would you have made more than 17 pips yeah so when you have your analysis right you're doing everything you have to do you put everything together you put in correlation you add on profit do not ever doubt yourself okay that's one major thing once you enter a trade stick to it completely till the end even if it gives you a loss doesn't matter stick with it and then the next trade continue the same method which you use on that losing trade do not modify any methods do not jump a strategy do not change the way you think whatsoever okay all strategies work to a certain extent as long as there's not so much indicators on the screen if it's a price action based strategy all strategies work add correlation to it add a winning probability to it you will not lose okay it is just a psychology that's involved with it that makes a person lose okay where we put the stop loss on the other pairs not on the ones we did there's no need to put a stop loss on any other pairs treat the whole trade as one you put the stop loss and take profit only on the pair that's perfect for in this case euro yen once euro yen touches it stop or take profit exit everything okay treat the trade as one okay okay Karen same question for you um no just uh I just answered that question so I think I answered your question too uh bead what about not risking more than two percent of the bank that's still the case do not risk more than two percent that is what is talked to us in the books um you guys can follow that but two percent really not much people follow okay I'm not saying that I don't follow it I do follow it but not many people followed because of the mentality some people have a two thousand dollar account and when they're trading a two percent risk they end up you know just uh increasing lots is because it's the amount that you get on a return is just not enough comparing to what you are used to on a day-to-day basis if you're spending a hundred dollars a day by going out whether you're eating McDonald's or you're eating at Olive Garden or you're out partying if you're not making at least that much you're not going to be happy with trading because when people start trading forex they come in with an expectation to replace their job or to replace some sort of pocket money on a day-to-day basis which is the reason why many people fail they don't treat it like an investment so this will help you do that once you add in correlation this will help you increase profits at least and keep your mind satisfied with the same analysis there's no extra analysis there's no sitting on your screen for another 20 hours a day okay you'll find one trade you add correlation and you're good to go okay use correlation on one hour only or 15 minutes or 30 minutes you guys can use correlation on any amount of time frame you want but one hour time frame is ideal because every day there is a new fundamental watches in terms of the market every day there's new paperwork but there is not new paperwork every 15 minutes or 30 minutes the one hour chart will filter the news so one hour chart is ideal four hour charts is not worth it because there's only what eight of those in a day so it's not worth it to do the four hour charts okay Jared how did you decide your take profit uh one is to one ratio if your stop is 17 pips away your take profit 17 pips away the moment any of those touch exit everything okay bead yes build slowly build skills yes Karen thank you so much it's simple strategy and I understand you're very welcome I'm glad you understood that can we trade crosses yes you guys can trade crosses as long as the spreads are not too big what are the exit rules the exit rules obviously once you exit one the perfect trade you exit everything else Jared thank you thank you all right guys so time is up now we are passed by 11 minutes I have to shut down this webinar I thank you all for attending and we will have this video up on YouTube shortly and for those of you who are not a member of our social network please do join our network it is urban4x.ning.com I am there every day we have a chat room running and I actually trade with all the members every day we try to average anywhere between 100 to 200 pips a day so look forward to seeing you guys in the chat room as well thanks a lot for attending take care guys um we'll see me ask me is there any ideal time for the strategy no there is no ideal time you can actually trade this at any hours that's fine you're very welcome Muslim take care