How to Make Money Fast Trading Stocks or Forex: This video (and article) will teach you a very specific price pattern based on pure price action that will definitely help you in your trades.
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How to Make Money Fast Trading Stocks or Forex
Welcome to this video on how to make money fast, trading stocks, Forex, futures, whatever market. This is one of the patterns that we’ll crank your P&L up as fast as anything I’ve ever seen. It’s a certain setup and we all know that when we get into a trade, we liked to make money, we like to make money fast. Nothing is frustrating as getting into a position and then the market just stops moving and just kinda hangs. It doesn’t stop you out. It doesn’t go up and make any more money. Just seemed like as soon as you get in, the market moves up enough to fill your order and then it just kinda hangs there for awhile. It gets very frustrating, sometimes it can go on for so long that you start to wonder if you should even stay in the position.
Well, the pattern I’m going to teach you today is very different than that. It’s a very specific price pattern based on pure price action. Here it is, the basic explanation and then we’ll show you a couple of examples. So the first way to look at this is the pattern of price, and that pattern is a victory. I’m not quite vertical, but a very steep slope. Some people call these parabolic moves. So if you look at from here to here, if we drew a rectangle there, actually is that low, and we cut that in half. It’s not going to be a square. In other words, it’s going to be more than; roughly show that their, let’s say that was a perfect square, and that would divide the square in half. So we want to see an angle steeper than that, in other words.
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So that’s the very first thing you need, a very steep, almost a vertical move as much as the market can do it. Obviously, when each bar forms, it moves to the right. This, by the way, first of all, the pattern here is one of emotion. That’s what’s behind this. I always like to explain why things work. So what’s happening behind the scenes is there’s very emotional selling and that’s why the market moves so far. It moves a long distance in price, but not very far in time. And that’s another way of looking at the same thing. So it moves in Gann terms, this would be a very steep angle with a Gann fann and it covers a lot of price in a very short period of time.
And that is one of the hallmarks of emotional trading. Now, what caused it, doesn’t really matter. Could be a news report, could be earnings release, could be rumor, gossip, might not even be real, right? It might be fake news. But it’s an emotional response, in other words. And then what looking for is a little bit of consolidation. Now, the consolidation can take a little different form. And this is what you want, you want something like this and that’s generally going to happen at support. So we’ve got the support over here and that’s generally it was going to cause the consolidation, which you do not want. What does not fulfill this particular pattern; it can work for other things but not for this pattern, is for the market to move down.
You don’t want it to go down and then move up, and then go down. Now, that can be another tradable pattern, not saying that doesn’t work, but that’s not this kind of pattern we’re talking about today. We’re talking about how to find a pattern that makes money fast after you get in. So if you look for this pattern here, then you’ll see you get a little consolidation and then you get another very steep angle move. That’s the point, before and after the consolidation, we’re looking for a very steep slope of move and that’s what makes you money fast in a short period of time. Here, it’s only three or four bars and that’s it, that’s the end of that leg.
So not a lot of money on that one as far as reward to risk ratio, actually reward risk ratio is not too bad. But it’s a quick little trade. Now sometimes you’ll catch these, you’ll never catch the first leg on these. That’s the thing – with this type of pattern and these very steep slope patterns, you’re going to have to wait for that first leg to be put in and then you’re looking for the second or the third leg of it. So I’ll show you another example.
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So here’s another good one. All right, so we get a bit of a move down here. Now, this time, we do get the retrace, then we get a very steep angle of price movement and then it just moves sideways. That’s what we’re looking for. And then this is where we would get in and ride that leg. It’s usually you’re just getting one leg. It’s kind of a scalp trade, if you will. But again, within one, two, three, four, five bars, you’re done. Quick trade, but your P&L goes up fast. Within five bars you’re in, you’re out, and it is a pretty good reward to risk ratio. Why? Because we’re trading inside this narrow range pattern here, and then that’s your reward. So quick trades, but fast trades P&L scrolls up fast and that’s kind of fun to see.
Now, what’s the dynamic between not wanting it to retrace? Why do I say we just want this to consolidate? Because, we want that dominant buying pressure to be retained in the price action. In other words, if the price went down and then went up a bit, well that could mean that there is some actual buying coming in. We don’t want buying. We want this thing to have almost pure bearish action that’s just pausing for a moment with basically some profit taking. And again, where’s that profit taking going to take place, at a previous low. That’s the support. Look for that, that’s what you want to see. You want to see this action at a previous low, at a support level and then wait for the breakout back to the downside. As soon as it breaks out, you’re in and out, whichever way it is.
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Then we make the money, honey, and we a cash out right away. Now here’s an example. I want to show you again in the context of keeping it real. And what that means is you don’t always get this setup every time you can get a very steep angle. So for example, that is definitely a very steep angle, right? But we never get to actually a setup in here and then it ends and it goes up. By the way, it goes vertical right after that low. So, notice again, previous support is where these things go. But, this would not fit this parameter of this particular trade setup simply because it had not been parabolic or high vertical trade coming into that and that we never really got a consolidation after it started, so that’s okay.
I just show you this because I like to show you not just example is when everything works, when it’s perfect, everybody does that textbook example. No, I like to show you those of course, but then I also want to show you the reality because when you get it in their trading, you’re going to say, well Dang, I didn’t get a pattern. How come? Because they don’t all give you these trade patterns. When they do, great, when they don’t, go onto the next trade. That’s realistic trading and don’t have buyer’s remorse or shorter’s remorse in this case. Just say, okay, they don’t always set up that way. I wait for the next one that does. Now, here’s another distinction that I always look for and that is wave count. Now this is a different kind of wave count.
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The wave count, as I would see it here. So we got our move down, that’s one. A little hesitation, notice not a big retrace just kind of go sideways, a little bit up, but all those buyers are overlapping. Goes back down to where the support here consolidates. So wave one, two, three, four, five, six, seven, this puts in seven waves, if you will. And I will say, because one of the questions that comes up is, when do we get out of these? Some of them only go three waves, five waves is definitely an extreme. If you get into one of these patterns, like let’s say for example, you traded it here or even here, this is the one that I liked the best because it’s breaking support and it’s really just moving completely sideways.
So, if I took it there and I was able to hold in until seven, I would definitely just get out at seven. I wouldn’t even wait because it’s very unusual. We have now gone beyond the norm of the statistics of these kind of very steep sloped moves. So five is kind of average, three to five. Seven? Now just get out, you’re good. Now, we’re looking at the Japanese yen futures. Again, a nice little steep angle there, but it’s only two bars, right? We got our little consolidation there. Now, it comes in at this high, that’s not really the pattern, but it’s the beginning of the pattern. So it will serve for wave counting purposes. Now, when we get to this, that’s a more significant resistance than that because it’s higher. And what happens, as soon as we get into that zone, the market consolidates.
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So that would be the entry for that technique that I’m teaching today. We want to break out of that resistance, have a sideways movement here, and then it goes vertical again. Now, we’re counting our waves, then it’s seven. And here’s another thing to look out for. If you do get to a seventh wave, it’s quite normal for this wave; right before seven, between five and seven, to be a little messy. I’ve noticed this over time. This wave six will often be kind of a messy price pattern, not as neat as these consolidations before it. So the longer the market goes on, again, extending beyond the normal statistics of a steep angled move like this, the more the neatness starts to break down.
I’m going to end giving you my favorite pattern within the pattern of this. Would you like to know that? All right. I shall show it to you absolutely free. So what I like to see, and again, you can trade this many ways and I’ll tell you this one doesn’t set up as much as other patterns, but this is still my favorite.The stuff that works the best doesn’t occur that often, right? Well, that’s the nature of the game. But basically it’s real simple. So we get our steep angled move here, we’re at resistance, by the way, we also got a gap close here, right? So that provides resistance as well.
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Now here is the pattern that I like the best. In fact, let me just expand this a little bit. It’s when within this sideways move here, we get a bar length where it opens and closes near the high and you’ve got this fairly long wick at the low end. Normally it’s not going to be real long because of the nature of this move, which is just basically going sideways, but that is a rejection of value of these lower prices. That’s literally what that means, which is good.
If we’re going to be bullish, we’re going to buy, then we’re going to get in above the high of that resistance there. Then we want the market to reject lower prices. In other words, the few people are trained to short this thing and there’s not enough people to take the other side of the trade so it keeps going up. And that’s what we want. So this kind of bar right here, if you get that in addition to the parabolic move up and you get that in the consolidation, then I consider that an even higher probability trade for this very steep, sloped price action type trade.
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And finally I am giving away one of my favorite trade strategies. I still trade this to this day every time it sets up by trade, the rubber band trade as it’s called, and I’m willing to give you that whole trade with money management rules, where to get in, where to get out, where to place your stops, all that detail absolutely free and it’s in the little five day video course that again, no charge. It’s free to my youtube subscribers and if you’re watching this video, it’s available to you. So go ahead and click on the link in the top right hand corner of this video, or there’s also a link in the description below on Youtube and I’ll get that over to you as soon as I see your message.
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