Professional Trader offering Free mentorship via Babypips chat room

Ok guys…here are the updated links. I accidently deleted some of the videos, so had to upload new. Here ya go:

UPDATE:

Ok everyone… because of popular demand, and my personal time constraints, the webinars have become next to impossible to conduct in real time trading. However, I made a video outlining how you can stack supply/demand concepts, along with a few others to determine some high probability trades. Here’s a link to the videos so far, with more soon to follow!

Intro - my weekly high probability trade analysis video 1 - YouTube

my weekly high probability trade analysis video 2 - YouTube

my weekly high probability trade analysis video3 - YouTube

my weekly high probability trade analysis video 4 - YouTube

my weekly high probability trade analysis video 5 - YouTube

More coming later tonight…

Please comment or ask any questions in this thread. Thank you

Jay

thanks for posting these, went thru them this morning. I am a S. Seiden student at his paid school…worth the $$…

I am conducting similar analysis and based on this analysis I am getting into VERY few trades…I actually posted my first thread watching and watching…because of just that…thought i was doing something wrong!

With that said, do you agree that you are not getting into many trades this way as you need to wait for price to get to these daily extreme levels? [B][U]If so, what are you doing in the meantime…do you trade something else?
[/U][/B]
I find all the pairs move similarly so they reach supply/demand similar timing. I am now looking at some commodities, indexes and treasuries to add to my chances of finding extreme zones that are active…
ET

Enchanted… I’ll give you my answer, but I’m not sure it will be of much help to you :slight_smile:

I pretty much watch 11 markets. All U.S. stock index futures, 6A, 6B, 6C, 6E, 6J, and 6S. I also trade gold, and oil.

Generally, I scalp a fair amount. I watch for very smalll time supply or demand zones…particularly those off of daily highs and lows, globex highs and lows…etc. I also will watch larger term time frames, and I oftentimes have a “vision” of what to expect. As in “euro just dropped 1000 pips, hit a significant daily demand level… falling knife is done, Price action bounce off the level indicates further upward momentum…so every decent breakout or drop-base-rise even on a 1 min or 5 min chart i will take. manage trade by reducing exposure as 1 min or 5 min makes swing highs… wait for price to tell me move is over, genearlly will do so when coming off another technical level, or news is a catalyst. Then, if we had a nice parabolic style move INTO that technical reversal zone…i’ll switch to short…at least to the point of the breakout…”

etc…etc…etc.

I use COT info to watch for record overbought or oversold conditions…and then know how to recognize true selling or buying exhaustion. Want an example? GBP… QE announcement, and it sold off VERY strong = shaking out all remaining willing sellers…but then rebounds completely in 1 day?? when the news is bad, but the market ignores this…it means the market is VERY strong. Coming on the heels of a 1200 pip drop, by the price action, current trend direction, fundamental strength compared to the EUR, and COT data…i now feel pretty strongly that GBP will rebound another 300 - 500 pips upwards.

Based on this…i’ll look to take long trades off of lesser technical levels, focusing on some important times (around london open, around U.S. open, around asian open), and try to catch the swing for the session. Once i see what I believe is the swing, based on distance to pivots, and price action, as well as correlated markets price action, I will scalp it up off of rather insignficant retracements to previous breakout points, or previous swing lows. I look for volume in the futures market on a 1 min chart using volume spread analysis concepts to determine when a level is valid…ie: price and volume indicate that we really do have more buy orders at a level i’m looking at.

I take a long trade in GBP, i reduce risk obsessively, and i take profits fast. Rinse. Repeat. I’ll take 2 - 40 trades in a day…usually sit around 6 - 20.

you mentioned hours to become good. really good. I’ve probably put in close to 8,500 by now. I’ve been trading since 2005. Successful since end of 2009.

If i were you…my best suggestion would be to look up VSA…volume spread analysis. Watch whatever market you want (recommend euro, oil, gold, gbp), and watch for price to hit a level of previous support or resistance. watch for volume to spike up…but price to not continue the trend. Like a pinbar…something like this. I look to go the other way.

Basically, if price is trending…i look for it to come to a level of support or resistance, i look for volume to start rising…but the trend to start slowing, or failing to push further. At that point… sometimes confirmed by further reversal price action, and sometimes not if i see a real failure for trend to continue, I’ll take a trade in the opposite direction.

In summary? study volume concepts, watch smaller time frames… practice on demo reducing risk as quickly as possible, and do this for several thousand hours :wink:

Experience my friend. By the way… you seem like you have a lot to offer the babypips community, especially being an XLT student. Congratulations! I think most will welcome any contribution you could make.

Jay

P.S. open any futures chart on a 1 minute basis…and look to see the highest volume spikes of the day. you will often find that these happen to occur at market turning points. Particularly if these high volume spikes occur when the trend has pushed a little bit…and is hitting a technical level. I would also recommend watching ICT’s videos. he has the most popular thread on here…and his students are doing well…with 1 - 3 trades a day. good luck!

Thanks for the videos

thanks for the input, very helpful. I started watching ICT early this week on Master Tang’s suggestion and just one 90 minute video on how to trade the NY open has helped me tremendously. Using the FIB kill zone in conjunction with the S/D levels (identifying fresh levels that have left the zone quickly and not retraced, drop base drops, trade with the longer term trend…always, etc) and trend lines I have already identified gives me the extra confirmation that my price area is good.

The XLT’s on Online Trading Academy are invaluable, but the one thing Babypips offers is more of a community. OTA is working on a chat room community but it is a way’s away. (For those not familiar with OTA they have MANY free resources available including a daily trader blog that gives free trade ideas daily (including entry, stop location and TP), Hour with the Pros sessions and weekly newsletters.)

Spent over 20 years in the industry with traders so this is all not so foreign to me. Hopefully I can use some of my career hours to help me get to the 10,000 hour magic number of excellence!

I am hoping over time I can make contributions here. One of the things I do miss about my prior career is mentoring teams, especially women, as this industry is very male dominated.
Another trading week awaits!
ET

Hi eremarket! May i know which demo for future account would you recommend? thanks!

And by the way, awesome videos! highly recommended!

Fartist…none of them are great that I know of… but I did demo using thinkorswim’s platform. It isn’t the best…but it will give you a decent idea of what the futures markets are all about.

Jay

Ok thanks, would be interesting to see how volume reacts with price action. So far im only able to see it with in equities market.

Thanks for recording your concepts Jay. Outstanding videos.

Hi Jay - Great Videos! When you do the weekly time frame analysis where you draw the fibs and designate the no trade zone is that a 15 min intraday?

And also, I saw you use TOS as your trading platform. I have been trading a demo account on TOS and I see that for the forex futures only a few pairs are available. I would prefer to trade fx futures but I feel a bit limited by the few pairs available. There’s the e-micro AUD/USD, e-micro GBP/USD, and e-micro EUR/USD. Are you able to trade more forex futures pairs?

Appreciate your comments! Thank you!

Bronz…thanks for the feedback, very glad you liked them. I do my weekly time frame analysis by taking the previous weeks data: High of last week (as in, sunday - friday), and fib to the low of last week. Doesn’t matter what chart time frame you use for this really. Then, between the 32 and 68% levels I draw that rectangle. This is the no trade zone. As long as the current weeks trades primarily in the same range of last week without moving above or below the high/low, these rules and measurements still apply.

As far as micro futures…i would not recommend think or swim. Any broker that offers a CQG or Zenfire data feed should be good. I’m really not good at recommending a broker.

Jay

heeey, it’s been a long time for me (i was without internet, changing from an apartment to a house).

So, GREAT job putting so much effort into those videos Jay and many thanks to share them!!
Keep the edge!

Enchanted Trader.

I have a question about sam seiden FX street webinars.
I have been watching them, but i would like to know from someone inside OTA if these webinars can help with the concepts to make someone successful.

Thank you very much in advance!

ABSOLUTELY in big capital letters.

Supply and demand the main concepts. The paid school online trading academy goes into more detail…he promises us paid students he does not give out the gold nuggets for free…take a look at their website.

One more thing…go to the website www.online trading.com. There are some great free resources there including the traders blog where they apply sam’s concepts and give you specific trades daily include stop and tp placement.

Also apply to their weekly newsletter and hour with pros sessions.

Hope that helps! Sam should start paying me for advertising. Ha!

Quick couple questions…

If daily chart pair has been trading up for weeks you would call the trend ‘up’. Now what if the last couple days, or the last 5 days the price action has been down? Would you be buying the retracement or would your mindset change to saying the trend is now ‘down’? Asking specifically for intraday trading… I am not sure if I should be just going with the micro trend for the day or the more macro trend…I have been trading based on more macro trend but wondering if viewing this wrong.

Also, ICT video he refers to ‘turtle soup’…what is that? Does he mean consolidation?

Happy/relieved to say I had a really good week 5 trades 5 wins…only risking peanuts so $$ small but very satisfied that my system is getting solidified and I am gaining more confidence and less hesitation when a trade sets up. Even did a copper trade this week!
ET

hey enchanted, if you were only doing short term trading then you should focus more on the last five days, as that is more prominent. Anyways, there is no wrong answer to this, because whether you trade short or long each day you can still be profitable, providing you find a proper entry. For me, I form a long/short bias, and trade higher lots if its with my bias, and less lots(or don’t trade) if the entry is against my bias.

The shorter the timeframe in which you hold your trades, the less the macro trend will matter.

Hi Jay, I got a question about your USD/CAD trade you highlighted in the most recent videos in the thread here. It looks like the pair has continued it downward move. When doing your weekly analysis when you draw your no trade zone, would you expand the fib down to the low on Friday 10/14 or would you redraw the fib keeping it at the daily high of 10/4 down to the daily low of 9/16?

Thank you!

AWESOME with capital letters hahahaha.
Thank you very much for the advises!
I’m going live this week after a hard studying/training year in forex, Sam Seiden’s concepts had been in my trades since July/August (I think it was one of the last webinars that Jay did) thanks to Jay!
Now with your advises, maybe I can catch some good and better explained concepts with new views!

Many Many Thanks!

Hey Jay!

Just finished viewing your video series yesterday. Very solid material and presented in a clear and logical way. Very nice!