Trading Together with the GT247 Team.

Trade Specialist Odwa Magwentshu of GT247 recently had a trading webinar where he live traded a few markets and showed how to trade via scalping.

Its an hour long webinar where traders trading on the GT247 MT5 platform can join in to get support and trade ideas.

Join us by opening a live account here.

 

Highlights of the transcript of the webinar is below. Its auto-generated so it may not make much sense, but I hope that you can follow if you wish to read what was said.

okay starting things off this is the
platform and just keep in mind I assume
you’re ready know how to use the
platform so we are not going to go
through too much details however if I’m
going too fast please let me know and
we’ll I’ll step back a bit for that as
we say the few house rules number one is
that we try and make as many trades as
possible and also to keep it easy we’re
gonna keep the volume at 1 meaning that
if ever you point it goes in our
direction we make one rent for all the
trades we got to make today and number
two is that we’re gonna stick to
currencies commodities and indices basic
reason is that the CFD markets or the
equity markets are closed at the moment
which makes it available
I mean it’s pointless rather to go into
those trades okay and that’s those are
the main top ground rules that are gonna
start with and another ground rule is
that we’re gonna use a risk/reward
ratios one to one point well sorry
because we’re stopping we don’t have a
risk-reward way so we know how to wait
for take profits we are gonna put stop
losses however so we can use some money
from this however we’re not gonna put
take profits what we are going to do is
that every time we make ten rands we’re
gonna get out of the position the point
of scalping is trying to make as much
money as possible as often as possible
it’s not about making a big trade it’s
all about making small trades and
capitalizing on that.

now I’m gonna start
08:40
on an hour chart in terms of my analysis
08:44
so that we can we can see what the
08:48
direction of the market is currently and
08:50
then work accordingly
08:55
I’m just putting everything in an hour
08:58
taught so we actually may start on the
09:00
four-hour chart excuse me
09:07
the reason why I’m taking us for our
09:09
taught as I stated is that we want to
09:11
see where the markets going and in the
09:14
long term and not to go against the
09:16
trend there’s a saying in trading where
09:18
the trend is your friend and you don’t
09:20
want to go against it if you guys also
09:23
have any ideas I want us to be very
09:25
interactive and I would like it and
09:28
appreciate it if you have any trader
09:30
ideas where you want me to look at any
09:31
particular instrument that we can
09:34
analyze together and make a trade off in
09:36
this hour okay we want to start so I am
09:43
just putting everything in a 4-hour
09:44
chart okay here’s a nice one on a 4-hour
09:50
chart we have euro USD first of all
09:53
we’re gonna take trendline quick look
09:57
day eur/usd is just broken out of that
10:01
trend line and we have a horizontal line
10:06
here representing this should represent
10:14
a net support I mean sorry a resistance
10:17
line it’s broken out of the channel the
10:21
downward trend and other and it’s just
10:24
above the resistance line as you can see
10:26
there are two candlesticks here the end
10:32
yeah
10:38
and what these candlesticks what this
10:40
candlestick represents for me is that
10:42
after it broke out the candlestick was
10:44
also green meaning that it’s a
10:47
confirmation that there’s an upward
10:49
movement for this train for this trade
10:51
and that being the case the positions
10:56
I’m going to look to get involved with
10:58
this on a 15-minute chart is a a long
11:02
position
11:03
that’s where euro USD so if you have a
11:04
pen and paper right next to you please
11:07
write down the euro USD long so we’re
11:09
not going against the trend we say in
11:15
your UST is long and then we’re going to
11:21
go through the rest of the files so that
11:25
at least we know what pattern you’re
11:31
going for
11:43
and if you have a look here quickly we
11:45
have a channel in which the instrument
11:49
is trading on now it seems like it’s
11:52
reached the peak of the channel however
11:54
because this is still our charge there
11:56
is some possible movement upwards it may
11:59
not be a lot but it is something that
12:01
we’re going to capitalize on so you
12:03
could get up to the meters draw
12:05
horizontal line sorry about that
12:31
some work it’s not gonna work but
12:37
however we do expect as I said upward
12:40
moving upward movement rather so we’re
12:44
gonna buy yeah okay that’s the food see
12:51
we go to gold with gold you can see a
12:57
couple of lines here got that long term
13:07
train line and what we can see is that
13:10
it’s recently just broken out of this
13:12
trendline that’s not accurate
13:31
it broke out a day however we’ve missed
13:33
that movement that there was a fateful
13:35
false breakout around this level on the
13:39
monthís level there was a false breakout
13:42
came back down in again broke out here
13:45
confirmed the breakout retested
13:48
consolidated for a while we tested that
13:51
train line again and now it is broken up
13:56
in terms of this I’m not actually
13:58
looking at this real quick I see that it
14:04
was consolidating for quite some time on
14:05
the forward part and I’m just gonna put
14:08
here another line way in which it broke
14:11
out off so now for this as well we’re
14:18
looking at a long position also when I
14:25
buy one in goes there sorry
14:38
and because of the trendline the Ray
14:41
trendline if you see it there’s a
14:43
possible movement for this to get up to
14:46
let’s just look at the price get up to
14:53
1325 that would be I’ll take profit for
14:56
this particular trade reason I say 1325
15:01
number one is that’s if you can see here
15:06
it’s a resistance level one two okay
15:11
roughly it kind of touch it’s not a
15:13
strong resistance line but you can see
15:17
that it has been we tested here a couple
15:18
of times okay so it’s not the strongest
15:25
resistance now but it has something to
15:27
aim towards GBP has been tanking
15:33
especially after today the announcement
15:35
that inflate interest sorry inflation
15:40
rate seven will not change and that was
15:45
a negative sorry the the pump reacted
15:48
negatively towards that so anticipating
15:54
further drop on this particular
15:55
instrument however if you haven’t look
15:58
quickly it has been consolidating in the
16:01
past since the fourth of May 14 ok
16:05
sixties water for six days it’s been
16:07
consolidating in sideways however if you
16:11
look previously on the 24th of April it
16:14
did consolidate sideways and then didn’t
16:16
do research but it did also drop after
16:20
that okay if we have a look here the
16:26
black lines I was with the client is to
16:29
be showing him how to use the platform
16:30
and we went through putting daily daily
16:36
support and resistance lines so we made
16:39
the purple lines for our support
16:43
resistance lands as you can see here and
16:45
here
16:49
and there and then we we made then the
16:54
black lines your daily support and
16:57
resistance lines last ones the S&P; 500
17:02
as you can see I’ve been very artistic
17:05
on this particular chart and nice to see
17:09
that there is and so I there is that
17:17
particular
17:25
there is a rough train line going down
17:29
there however you can also see that this
17:32
is a major point of resistance will not
17:36
major but it has found some resistance
17:38
here before as you can see one to around
17:43
this area around that area as well but
17:46
it did manage to pick breakthrough
17:48
rather there so here we anticipate there
17:52
might be a drawback when it comes to
17:55
this particular instrument what I can do
18:01
is add it edit the Fibonacci line and
18:05
add more towards it and just get the
18:10
Fibonacci line edited for you
18:38
when I go again
19:05
I need to add seventy one point eight
19:28
it
19:36
and as I stated so II if you have a look
19:39
Li on the weekly chart we drew a
19:42
Fibonacci line from this point up until
19:45
the peak and we saw that there was some
19:49
retracement to the 38.2 line and it
19:51
bounced up and down right now it’s
19:54
actually at the seventy one point eight
19:56
nine and we anticipating a reversal
19:59
there so right now at this point when it
20:01
comes to the S&P; 500 it could go either
20:04
way but as you can see we on a weekly
20:06
chart that we showing here so but we’re
20:11
not gonna wait an entire week in order
20:13
to see what happens and as we zoom in on
20:17
the timeframes we see here on the daily
20:20
chart that it is still going strong in
20:23
that direction
20:24
and that’s when zooming in some more
20:28
comes into play so from here there is a
20:31
possibility that it could yeah
20:46
okay now we’ve gone for hours
20:51
just gonna take a round of questions
20:53
quickly okay you’re on find me Jack asks
21:02
that how do you get his he wants to show
21:07
his chair red and green candlesticks
21:10
I’ll show you that quickly Charles
21:12
whilst you know how to put the time
21:18
frames on top I can I can eat me do that
21:21
Neil wants to do euro you I mean
21:24
S&P; 500 which we’ve just done but silly
21:32
I’m not sure what about your question
21:34
there is a summon Archie icon on the bar
21:36
yes there’s a marshal where the
21:42
questions is alluding to if you can just
21:44
elaborate further on that okay Teesha is
21:51
asking why did I start the Fibonacci
21:53
retracement that close instead of going
21:55
all the way back Fibonacci lines to be
22:01
honest when it comes to analyzing it’s
22:03
totally up to you however I didn’t want
22:06
to go too far back what I could have
22:07
also done is to the Fibonacci line from
22:09
this point all right but it would rather
22:15
be around this point I don’t quite
22:21
remember to be honest why I chose that
22:23
particular area for me it looked right
22:28
but I know that doesn’t sound like a
22:30
good and informed this informed answer
22:34
but let’s just test your theory out if
22:37
it start there so also what you wanted
22:40
to is that you want to take it away
22:41
there’s a lot of there’s a long run
22:43
happening however if we also look when
22:47
we zoomed in a bit more the Fibonacci
22:50
line also conformed with this as you see
22:56
it almost tested day and that’s why it’s
22:58
it’s bouncing a bit
22:59
and on the 50-point line it’s tested
23:03
there couple attempts so as long as
23:05
there’s a strong run first before there
23:07
is a retracement you can do it a
23:09
Fibonacci line from there the rule of
23:11
thumb is that they have to be at least
23:13
eight candlesticks and succession well
23:16
not all of them must be green however it
23:18
must show a positive move so for example
23:21
you’re not gonna do a Fibonacci line on
23:24
this area even though there was a long
23:26
movement you don’t wanna do of a
23:28
menagerie line here because there’s a
23:29
lot of retracement that’s been happening
23:31
with it
23:32
so from watching I usually work based in
23:35
my opinion when it comes to stocks that
23:37
have been running so if you are looking
23:39
at individual stocks I would look at
23:42
clicks and what’s the other one and this
23:47
gap they have been having a nice strong
23:49
run and they started to pull back as of
23:52
late hence our trade notes power trade
23:54
specialist bearing tomorrow you want to
24:06
get those stuff back all you have to do
24:08
is press ctrl M in N
24:17
when cam writing down notes I must do
24:21
something on print usd/jpy
24:33
okay and to answer your earlier question
24:39
you aren’t just right click anywhere on
24:40
the chart and then go to templates nor
24:45
rather no you don’t go to properties in
24:48
property is what you’re going to do is
24:49
that you’re gonna go to comment click
24:51
candlesticks and then go to colors and
24:54
then play with the colors power up and
24:57
power down keep those black blue candle
25:01
make it man they candle make it red and
25:04
that’s how you set everything up and
25:05
after you’ve set everything up
25:08
excuse me you go and say save template
25:11
and save it as default with a lowercase
25:13
D then every taught you open it’s going
25:16
to show that particular movement or
25:19
sorry that that templates that you have
25:23
designed and then we said we want to
25:25
also do something on print as a request
25:28
for my many many many many clients that
25:32
are joining me right now okay we also
25:38
have hands up
25:43
actually we don’t we don’t have any
25:46
hands up okay so we continued with Brent
25:51
we also do the same thing go to a daily
25:53
chart first also keep in mind with
25:59
regards to prints there’s a lot of
26:00
economic data that’s coming out that’s
26:02
why it’s been running so much so with
26:04
regards to Brent it’s not really how can
26:08
I put this not really based on
26:11
technicals that made the run happen it’s
26:14
based on president Donald Trump deciding
26:16
to withdraw from the nuclear deal with
26:18
Iran the reason why it’s such a big
26:21
deals that Iran has supplies a large
26:25
amount of countries with oil and because
26:32
it from now they can’t produce the oil
26:35
anymore as the United States of pull out
26:38
of the deal there is a shortage in the
26:41
markets in terms of oil now I’m not sure
26:44
if you know anything about suppliant man
26:46
but economics run mostly on that
26:50
principal way the if there is a high
26:54
demand for something however there isn’t
26:56
a supply then the price of that is to
27:00
that particular instrument in this case
27:02
tends to grow up I mean so to go up
27:06
sorry not grow up that tends to go up so
27:09
based on that that’s why this particular
27:11
instrument has been reading so much in
27:14
the past few days well let’s see in the
27:16
first two days actually it started
27:18
raining when President Ma qualm from
27:22
France visited the United States
27:25
president and he announced after the
27:28
meeting that he senses that President
27:30
Donald Trump’s gonna announce that is
27:32
going to pull out of the Iran nuclear
27:34
agreement okay so with Brent on a daily
27:41
chart we have a quick look here right
27:45
now we have this train land going up
27:57
just for safekeeping we want to
27:59
safeguard the bottom as well also it
28:05
just look good major rather and then you
28:13
see that there’s a channel there going
28:16
on a weekly just okay
28:26
[Music]
28:29
okay okay there’s not much I can see on
28:33
a weekly chart try not to waste too much
28:37
time so if everyone try not to waste too
28:41
much time we need to start making these
28:42
trades we are behind on our euro USD
28:45
what I’ll do I’ll go into our 15 minute
28:48
twat and what I wanted to show you so if
28:55
you have a look you said we’re gonna
28:56
power when it comes to this particular
28:59
instrument another thing we have noticed
29:01
is that broken out of the land and the
29:05
land is not accurate
29:07
it’s a rough estimate as you yeah it’s a
29:11
rough estimate of way it should be
29:13
around what happened is it broke out it
29:16
came back to retest that is the the
29:18
train man do you necessarily get there
29:21
and now is continuing to go up this is
29:23
showing that there is a newt there’s a
29:25
change in direction in terms of the
29:27
movement of the market and what you can
29:29
do now is go long on this particular
29:32
instrument so that’s what I want to do
29:33
first is that I want to go long on this
29:37
euro-usd trade as you stated our volume
29:40
is going to stick to one and we’re gonna
29:44
path boom as I said we have a target of
29:48
10 and we can then put the stop-loss
29:50
just below their reasoning I’m putting
29:53
it just below there what usually happens
29:55
is a it might come back again and you
30:00
try and put it just below the previous
30:03
low if it does hit your low if it does
30:10
hit your law sorry about that
30:11
if it does it’s yellow that’s a bad
30:13
trade unfortunately but learn to take
30:17
your losses and go to the next trade
30:19
that’s the whole point of trading on a
30:21
15-minute time frame you get in and out
30:24
in and out so we’ll let this simmer as
30:28
we continue with the webinar looking at
30:31
the food see as well zooming in a bit
30:33
more as you can see if you could say
30:38
that this indicates the previous high
30:42
[Music]
30:43
right yeah this indicates a previous
30:46
heart it does manage to break above
30:48
their previous high however it seems
30:50
like the bay the pace in the markets
30:52
don’t want it to surpass this amount but
31:00
if it does continue to go up there is
31:05
movement up until they up until the top
31:08
of the channel okay so that’s that
31:16
there’s no edge low HD so I am looking
31:19
at our taught that is not correct 15
31:23
minute chart confirms what I’m saying
31:28
okay just so what you can do is that you
31:33
use the same knowledge or ideology of
31:39
support and resistance lines and you as
31:41
you zoom in you zoom in more on terms of
31:44
how the markets are moving in that
31:45
particular instance if you can see here
31:48
just to divert a bit there was a head
31:51
and shoulders pattern that formed here
31:53
so here’s the left hand shoulder here
31:56
the right hand shoulder and this is the
31:58
head rather an inverse head and
32:00
shoulders pattern and how you would have
32:06
how you would have analyzed this that
32:09
you were to put a line like that to to
32:15
draw on the neckline so this is one
32:17
neckline and that’s one thought of the
32:19
neckline the other thought of the
32:20
neckline just extend it a bit more and
32:22
as soon as it broke out that’s an
32:25
indication that it’s going to go from
32:30
the neckline to the head that distance
32:42
and if we have a look here there is
32:44
still some potential growth in this
32:46
trade it’s not much so we’re gonna skip
32:57
that this is the one I’m quite excited
33:00
about okay it’s broken out clearly and
33:08
as you can see here’s a you have the
33:14
part of train land a broken out of this
33:25
train line so what we’re gonna do is
33:30
that we’re gonna buy until it reaches
33:33
there so let’s do that let’s purchase
33:39
and I say to stick to a volume of one
33:42
gonna buy this one take profits that we
33:50
stated 13514 idea but just let’s see how
33:58
far this one goes as well going to the
34:03
cable rate
34:15
cable is starting to retrace that’s had
34:18
a bad day today so it’s retracing now
34:20
and from its retracement weeks
34:23
anticipating that it’s going to get at
34:25
least up today to the what are they what
34:29
did I go through train line for our
34:31
train land so if you have all on it it
34:33
also tells you which timeframe you took
34:35
this land from so we can see it’s from
34:37
the four-hour train line it’s broken
34:39
above it might come back to retest this
34:41
train line I then continue going up so
34:43
what we’re gonna do is just purchase it
34:45
real quick also just keep in mind I do
34:54
anticipate that some of these trades
34:58
might not be successful hence you want
35:00
to place as many trades as possible as
35:03
trading is a rule of averages and last
35:09
but not least when I look at the S&P; 500
35:38
having a quick look there it’s broken
35:40
above that Fibonacci line and zooming in
35:47
a bit more yes it has confirmed it’s
35:50
above it so we also want to buy one here
35:55
now answer your questions as soon as I
35:57
face the straight
36:03
is there someone unmuted
36:14
okay okay we’ve got questions okay
36:34
yes I see we have a bit to say what do I
36:41
mean by hands up here we go to attendees
36:43
there’s a raised hand option there if
36:46
you say raised hand I will on YouTube
36:48
and you will chat but that do that right
36:50
now
36:51
I’ve unmuted you let’s hear what you
36:54
have to say so no no okay now I
36:57
understand what you mean by hands up
36:59
okay do you have any fish that see here
37:02
you already have a short position on the
37:06
USDA end correct
37:09
speak to us I’m just trying to establish
37:11
okay I’m just trying to establish it is
37:14
a little bit more movement left
37:15
downwards towards the 109 40 okay okay
37:20
just to get your sort of insight in it
37:24
okay no problem
37:26
let’s hear from anyone else aren’t you –
37:30
I adore this just hear what everyone
37:33
else has to say Casilla are all look
37:38
into the Dow Jones but not just yet but
37:42
I have noted it Thompson I would not
37:48
advise you to buy and hold on gt2 for 7a
37:52
stock
37:57
okay now go back to that – I saw on our
38:04
platform it is not possible to hit okay
38:13
so we’re going back to Neal and
38:15
Priscilla’s questions Neal is if there’s
38:17
any more downside movement on the
38:19
usd/jpy okay which I do not have on the
38:24
watch list at the moment okay
38:33
wanna start everything from scratch
38:35
again
38:43
starting off
38:48
but at the train line I was looking at
38:53
this a bit idea excuse me they have
38:58
there there’s a daily support and
39:01
resistance nine-day raffia around that
39:05
area and if you have a quick look there
39:10
is a head and shoulders pad inverse
39:12
headed shoulders pattern that has formed
39:14
here’s the left shoulder over here right
39:20
shoulder slightly creeping in at the
39:23
moment so we anticipate above this one
39:28
tail mark one ten fifteen we
39:31
anticipating more movement in the upward
39:34
direction there was a mini head and
39:37
shoulders while back here when it
39:39
reached the very bottom of this
39:41
formation here is the left shoulder
39:45
here’s the right shoulder and after it
39:48
broke out a day it got to the first
39:52
Rondo’s point okay so now that’s on a
39:56
daily chart so that doesn’t say anything
39:58
you shall we still have to go swim in a
40:00
bit further so if you ever looked at
40:08
each other I think you actually might be
40:09
onto something but we’ll get to 109 40
40:14
yeah I see possible movement to get 109
40:18
40 on a 4-hour chart
40:21
it has retraced slightly in the interim
40:27
it has retraced slightly but here’s
40:29
something else I think that you might so
40:32
I’m not sure if you’ve read a bit up on
40:33
our blogs but we’ve spoken about Candice
40:40
I mean channel lines and yeah channel
40:44
lines rather
40:49
and when you have a channel what you do
40:52
is go top to bottom boom
40:58
so I think that it’s reached its its
41:02
peak according to the channel 9 on an
41:04
hour chart however it does seem like
41:07
there is still some clear the downward
41:09
movement for the usd/jpy currency paid
41:16
from here so I did retrace zoom in and
41:22
put in another trendline day ok but
41:32
that’s on an hour chart and there we go
41:36
we do another channel
41:51
and on the shorter timeframe
42:01
look at that marvel look at that ah
42:06
see I think you’re onto something okay
42:16
so by the looks of things it seems like
42:19
it’s going to continue going down it to
42:23
our on about 109 35 so here again let’s
42:27
show this so your house how do I do the
42:31
PI how do I do a PI so what we do right
42:35
click on the chart go to trading and
42:39
then go to a new order on a new order
42:44
this if you click on the charts you
42:47
looking to trade on it’s going to
42:49
automatically put the symbol in you
42:52
leave it as market execution determine
42:55
your volume and as we said in the
42:57
beginning of this webinar we want to
42:59
stick to one and then what we’re going
43:02
to do is then you pick whether to buy or
43:05
sell and for this I want to say sell all
43:10
right and then if you want to put a stop
43:13
loss you can either go to the the tool
43:18
box here at the bottom right click say
43:21
modify and/or delete and then put your
43:23
stop loss or you can grab the way the
43:28
trade is and then pull the stop loss to
43:31
where you want it to be
43:46
okay tandas asking i’m trading on my
43:51
mobile device and trades that i left to
43:54
run overnight close and open at
43:55
different prices with a flow to P&L; this
43:59
is due to the change from mobile it is
44:04
it is a company decision that we have
44:06
decided to go with and what that is is
44:08
basically a mark to market excuse me
44:12
mark to market report that is one so it
44:16
tells you how what your holdings are and
44:18
so on and so forth how much one end or
44:21
last for the day
44:22
it gives you a report so you can focus
44:26
more on your trading and also do
44:27
analysis one of the best hedge fund
44:31
managers in the world Ray Dalio he
44:34
released a book called principles it’s a
44:36
very very good book I suggest II they
44:39
get the audiobook from from audible or
44:43
by the physical book itself it’s a very
44:46
good book in terms of how the principles
44:48
behind managing your fans and also when
44:53
it comes to trading these main is main
44:55
focus in the book is that it’s you don’t
44:59
look for what you know is you look at
45:02
how could you be wrong that’s how most
45:05
people make money in the in the markets
45:07
is that you try and bet against what
45:09
everyone else is saying okay I hope that
45:13
assisted you your hand
45:19
Johanna is still as tanda is rightfully
45:24
illustrated that the air yo you your
45:27
your trade gets closed out AG open each
45:30
and every day you can hold it for a few
45:33
days however there is an overnight
45:34
charge for number one holding it it’s
45:37
called with the Sabre rate plus or minus
45:41
two plus two point five percent so that
45:44
you must just be a way of if you decide
45:45
to go that route number one excuse me
45:50
and yeah you can if you want but right
45:54
if you want to do more long term type of
45:57
investments the best place to go for
45:59
that
46:00
easy equities there aren’t any monthly
46:02
fees there’s no overnight fees that’s
46:04
why I say that that’s the best place to
46:06
go Thomson was asking my account does
46:10
not show South African instruments such
46:12
as cakes a2 etc also my demo account
46:16
does not show these it does the demo
46:18
account does I show them what you have
46:20
to do is just right click and say short
46:23
war and then actually say hide war and
46:27
then way it says click to add just right
46:30
the instrument you want to have
46:32
available okay number one and on your
46:37
live account the reason why it is not
46:39
added by default is that there’s a
46:41
monthly fee for having JC listed
46:44
instruments on your platform so in order
46:48
for you you have to agree to those fees
46:50
to come up monthly so if you want jay-z
46:53
listed instruments just give us a shout
46:55
send an email to new accounts at at gt2
47:01
for seven calm and Austin with your
47:04
empty Nam empty five number ask them to
47:07
activate it for you
47:11
Richard’s asking why am I using a fact
47:14
fifteen minutes instead of a five minute
47:16
main reason is because of what we’re
47:20
doing right now
47:20
five minutes is not going to be enough
47:22
for me to go back and discuss and
47:25
everything so fifty minute gives me a
47:27
bit more chance to to speak and also the
47:32
data is much more cleaner in a fifteen
47:34
minute charge then on it a five minute
47:36
chart and to be frank it’s my personal
47:41
that’s what I like to do it’s my
47:43
personal skill or not go it’s my
47:46
personal touch if you want to do five
47:48
minutes it’s totally up to you might
47:51
think the saying is as soon as you start
47:55
to doubt your system what works for you
47:58
that’s when you start losing in when it
48:00
comes to training so if five minutes
48:03
works for you Richard go for it a
48:04
hundred percent for me I’m not a fan of
48:06
the five-minute chart I already drink a
48:09
lot of energy drinks my heart would not
48:12
be able to
48:13
you know to stick with it grant wants to
48:19
see auto trading okay we’ll do that as
48:21
well the gases are also here in your
48:30
margin so let me so there’s a dow jones
48:32
trade we must look hard and Marja how to
48:36
calculate margin okay I’ve written it
48:43
down Nellie’s way mainly so here that’s
48:51
correct
48:52
nearly see oh sorry sorry about that any
48:55
specific times what days to trade that’s
48:58
a very good question so for me when it
49:02
comes to times for trading I would like
49:05
to go to forex factory while go to for
49:09
expections I want to see which news is
49:11
coming out and how much impact is going
49:15
to have on the instruments I’m looking
49:17
to trade so for example today it was a
49:19
very intense day for the UK in terms of
49:25
news data is coming out because
49:27
inflation numbers that are coming out
49:28
from day and also inflation numbers for
49:30
the United States the United States
49:32
shows destined to be worse than expected
49:37
numbers for inflation and also the UK’s
49:41
remained unchanged now those things have
49:47
an impact under the instrument that
49:51
you’ll be trading so if you don’t know
49:52
what it means if it remains unchanged
49:55
where you haven’t been following the
49:56
markets frequently enough you’re gonna
49:59
want to stay away from that carrot that
50:03
currency paid so let’s say I was
50:06
training today I would not have traded
50:08
the DDP USD food see in this instrument
50:14
until after one o’clock and then I would
50:17
not have traded the S&P; 500 called euro
50:20
USD in print until what time was the
50:25
announcement and to
50:26
to 30 at least Vienna understand what
50:29
the movement of the markets is and then
50:31
I would react accordingly
50:33
so in with this in mind for tomorrow
50:38
Canada is in is the main focus and then
50:41
drag is also speaking also just keep in
50:44
mind with American market the dollar
50:48
there is an optimal sentiment so
50:51
business confidence rather of how
50:55
everyone is doing and everything so
51:00
previously it was better than what’s
51:02
forecasted in a moment so you want to
51:05
see what’s happening day when it comes
51:08
to unemployment rate it’s anticipated
51:11
that’s going to remain unchanged and
51:14
then unemployment change the number is
51:17
forecasted at much lower than the
51:19
previous month meaning less people got
51:22
in the anticipating there’s people got
51:28
jobs or rather unemployed I’m wait
51:31
unemployed I’m sorry
51:34
mumbling number yes number of employed
51:38
keep between the previous math yes okay
51:41
that’s right so if there’s less employ
51:44
people it’s bad for the economy so and
51:47
it will tell you I don’t have to be
51:50
there if actual is greater then it’s
51:52
good for the currency so if there’s less
51:54
than 17,000 people it’s going to be bad
51:57
meaning the Canadian dollars gonna
52:00
suffer so you’re gonna plan your trades
52:02
according to that okay so that I hope
52:07
that answers your time question nearly
52:11
zero
52:24
yes your honor with regards to the the
52:26
so it’s up to you so if you think of
52:30
yourself as a the day trader yes you
52:33
wanna stick between for our one hour
52:35
type of charts and get into those trades
52:38
and get out my experience with the
52:41
markets it’s basically with trading is
52:43
that you want to get in and out more
52:45
trades then hold it for a long period
52:49
otherwise you simply investing so if you
52:54
can make three trades a day two of them
52:56
are incorrect and one is right however
52:59
your best reward ratio is one to two if
53:02
two of them are wrong and one is right
53:04
you would have been a you would have a
53:06
you’ve just broken even rather so you
53:09
just break even even if you have a
53:11
sixty-six percent failure rate so if you
53:14
place three trades a day and you have a
53:16
target of how much money and that’s very
53:18
important you need to have a target of
53:19
how much money you looking to make a day
53:21
in that way you can then trade on a
53:24
continuous basis and then keep track
53:27
record because if what you measure grows
53:29
and if you hold it rate for 5 days you
53:32
not necessarily looking into it not
53:34
following up etc Fredrik what happened
53:39
to the spreads okay where do we go when
53:48
it comes to this the spreads it was
53:54
failure when it comes to this way it’s
53:56
everything is you’re correct it’s CFDs
53:58
and the main reason for that is that we
54:00
had to incorporate everything one to one
54:02
platform and unfortunately the spreads
54:06
where the great thing about that were
54:07
using a futures contract in order to you
54:09
to view those instruments however we
54:13
have stopped using futures contracts now
54:17
and we went to spot prices that’s why
54:20
everything now is a CFD and also it gets
54:23
marked market thread on a daily base
54:34
like a tums hang on what instruments can
54:37
you trade after hours as you head work
54:41
and I appreciate the fact that you
54:43
understand your timetable please do not
54:45
try and trade according to what everyone
54:49
else is doing trading is a very personal
54:51
thing and you should try and do it
54:53
according to what your understanding is
54:55
and your timetable do not compromise
54:57
compromise your time for for trading so
55:01
sorry
55:03
a diverter there are digress brother
55:04
there but but times in life you want to
55:07
trade what I’ll say is what instruments
55:10
is the S&P; 500 and SMP and American
55:16
markets basically those indices you can
55:18
also still trade euro the currencies you
55:23
can trade some currencies and you can
55:26
also trade what else of the commodities
55:32
your goals your your oil etc what you
55:35
should do in just in assistance I will
55:38
suggest that you wake up a bit earlier
55:40
so in your morning routine you start
55:43
maybe at 6:00 instead of 7 or 5 instead
55:47
of 6 and then what you do is that you
55:50
you put according to what you’re saying
55:53
you build your charts etcetera etc and
55:56
then you know that these are the
55:57
instruments you want to get into today
55:59
and once that you’ve set that up what
56:06
you can do them after you’ve set it up
56:07
you can then put alerts alerts will then
56:11
inform you when the instrument passes a
56:14
certain price so how to put an alert or
56:17
let’s take this for example so for
56:19
example we looking at this this
56:21
particular trade and we say as soon as
56:23
this goes below this mark
56:25
we know that it’s broken past this
56:27
support level so you want to put an
56:29
alert at 1:09 34 usd/jpy what you’re
56:35
gonna do is then go here right go to
56:37
alerts right click on anyway in the in
56:40
the space there create an alert
56:43
we’re doing a lot for this and we say
56:48
when the last price is nest weight less
56:52
than last price is less than 109 point
56:59
three and however what you must do is
57:03
that you must ensure that your mobile
57:04
devices is linked to your computers or
57:08
your computer and then you say okay and
57:11
as soon as it gets below that mark as
57:13
you can see there’s an arrow there as
57:15
soon as it gets there you will receive
57:16
an SMS tell you that the instrument has
57:19
reached that point and then you can you
57:24
can look at the tots and then and
57:25
analyze them or just go into the trade
57:28
or if you don’t have time and let’s say
57:30
you you busy in surgery instead of
57:33
putting an alert you can then put an
57:35
order and once the orders executed then
57:42
you’ll get into it okay
57:52
okay darn our answer you very answer you
57:55
now it’s quite a long-winded answer on
57:58
Cedar I still have to answer the margin
58:02
core question I have for alerts you just
58:08
go to at the bottom in the toolbar
58:10
toolbox rather go to our loads and then
58:13
insert it there okay before I answer the
58:19
margin question and the darn – analysis
58:21
on the Dow Jones are there any more
58:23
questions I see that we have two more
58:25
minutes left
58:39
why thank you DISA
59:12
okay and okay Bridget and Don I’m gonna
59:18
um you two guys okay first also I chose
59:23
you a question Charles in order to add
59:26
the time frame go to view tool box and
59:29
then click on time frames and then it
59:31
will up here so I get view toolbars
59:34
sorry time frame okay Richard Ayoade
59:42
muted you you’ve raised a hand do you
59:44
have any question
59:57
okay
60:03
okay now it’s time for Darden’s question
60:07
about what was the fish number entering
60:16
so to be quite frank I thought there’s a
60:19
large amount of strategies I use in
60:23
order to enter and luckily we have them
60:27
listed on our website so what you do is
60:30
you go to gt2 for seven calm own got
60:38
resources education and then and then
60:59
just have a look ever read a bit so you
61:02
want to read on chart patterns you want
61:06
to read up on another hack on chart
61:10
patterns candlestick patterns and you
61:15
can also look at oscillators like your
61:17
RSI your moving averages excite to
61:22
etcetera so the there’s that to look at
61:27
so that’s out the mister I would say
61:30
just go there because I’m thinking about
61:32
everyone else someone asked about
61:38
downloading this so what I’m going to do
61:40
to everyone that participated today I
61:42
want to send you the link of the
61:45
recorded video I’ll send it to everyone
61:48
who joined me today okay and then we
61:53
have to explain margin or margin go to
61:56
resources again go to margin calculator
62:00
this is how you so you first have to
62:02
download the margin calculator if you
62:04
want to be able to calculate you the
62:06
margin rather obviously parapapa
62:19
[Music]
62:38
okay obviously enable editing and then
62:43
what you’re gonna do you select your
62:46
instrument so they’ll say for example
62:48
the CAC 40 then you have to put in
62:51
whatever the CAC foot is current price
62:53
is so I’m not looking at it outside said
62:57
mm whatever the current price is and
63:02
let’s say for the let’s say you want to
63:06
go ahead and you have a 500 Rand account
63:08
you only want to risk a margin of 100
63:11
brands you put 100 in and then you know
63:14
how many volume what your volume is
63:17
gonna be so it’s gonna be two point
63:19
eight that’s going to be a volume or
63:24
let’s see and if you were going in at
63:27
one R and a point for your CAC if it was
63:30
the price was a two thousand your margin
63:34
required is thirty five friends and
63:36
eighty cents one more time you first
63:39
select the instrument you want to put in
63:41
and then you select the price of
63:44
currently is trading at or your inputs
63:47
rather the price is currently trading at
63:49
you either determine your margin amount
63:53
you want or you put in the amount of
63:57
contracts of why do we look into going
63:59
for and it will calculate the the
64:03
results for you okay
64:12
last question any more questions have I
64:15
missed anything
64:25
and let’s have a look at how the trades
64:28
are doing okay SNP in the usd/jpy that’s
64:37
starting to come back gold its look at
64:40
them individually so S&P; is continuing
64:44
to rally
64:46
we went long here whoo as I said
64:50
previously it might retest and then
64:52
continue to go up so we not gonna cry
64:57
over spokeman
64:58
but let’s put the stop-loss just below
65:00
there if it goes below that mark it
65:02
wasn’t a good trade here we’re still
65:06
going long as you can see the markets
65:08
going sideways
65:09
we anticipate at least is gonna get up
65:11
today but let’s put a stop loss here
65:13
also now we didn’t try the food see okay
65:21
that’s interesting
65:23
and here we bought a new really put off
65:26
stop-loss with the euro ASD Brent I was
65:32
doing a daily talk we didn’t actually
65:34
analyze the print okay because going
65:38
sideways is not much coming out of Brent
65:41
at the moment the last one is the short
65:46
on usd/jpy
65:56
high-five ananta high-five
66:03
it’s a pleasure Pete to be helped full
66:05
to you sorry to be of any help
66:08
lost ramifications we have fast
66:12
there we go dish that’s how it’s done
66:16
that’s how you make money a lot so no
66:20
questions until ten plus seven
66:29
[Music]
66:48
is there anything I missed out just let
66:50
me know okay I’ve got a question for you
66:57
guys actually I would like to know what
67:02
should our next webinar be about do we
67:07
go again make another trade for an hour
67:09
trade with me webinar or do we do a Q&A;
67:17
session again I want to hear from you
67:21
guys do it do we do a fundamentals
67:27
webinar or what’s happening in the
67:32
market right now
67:37
nice 20 shall look into that so I let me
67:40
read your question
67:51
okay blue dish out say there’s no one
67:57
thing investopedia is all about
68:00
definition so it’s not really a great
68:02
website in order of what’s happening in
68:04
the movement a nice website would be
68:07
investing.com
68:09
it would be Shane Netcom mani wave calm
68:16
I mean when a wave dot 0z a rather what
68:21
other one am i using at the moment it
68:22
forex factory
68:38
anyway bursting Janette yeah that that’s
68:44
that’s the few I can think of right at
68:46
the top of my head so just to reiterate
68:50
I’d look at investing.com bloomberg.com
68:58
Shane Netcom forex factory dot-com yeah
69:09
I’ll have a look at those almost reached
69:15
our take profit at the SNP we said for
69:18
everyone we’re gonna get out when it
69:19
reaches take a nice trick I’m going to
69:23
teach you the next time is that once you
69:25
get into a nice profit let’s say now you
69:27
stay at home trader and all you’re doing
69:31
is copying the entire time instead of
69:34
taking the profit when it reaches your
69:36
target you’re wait until it’s it gives
69:38
to 20 for example our target for this
69:41
session was that if it gets to 10 we
69:43
take profit so now instead of getting to
69:45
10 when it gets to 20 you move your stop
69:48
loss to the 10 mark so that even if it
69:52
goes against you make a profit of 10
69:54
now that’s an advanced with us when you
69:57
were stay at home trader so we take up
70:00
profit at the SMP okay
70:14
okay and it’s ten past seven thank you
70:20
everyone for joining me and taking time
70:23
out of your evenings to sit down with
70:25
myself and we went through and training
70:28
me actually for this webinar I hope it
70:30
was informative as I said again if you
70:33
have any platform I mean any questions
70:36
please write them down I can always go
70:38
to these questions after the webinar is
70:39
over and then I’ll answer you guys when
70:42
I’m selling you the links I mean sorry
70:46
the recorded the recordings of this
70:49
webinar I like to interact with the
70:52
clients I like I mean I also understand
70:54
how hard it is to get started and that’s
70:57
why I appreciate if you have questions
71:00
and there is no such thing as a stupid
71:02
question stupid questions are the ones
71:05
you don’t ask
71:23
this
71:30
do you just keep in mind that if the
71:34
spread is high it is possible that the
71:36
last feeder price didn’t reach that
71:38
price however you bid and offer reach
71:41
the price that’s where you are taking
71:42
now to prematurely priscilla however I
71:45
will give you a shout tomorrow and we
71:47
can discuss this in depth
71:58
okay thank you everyone for joining
72:15
Thank You Ryan
72:30
we can
72:36
okay and that is it we’ll see again I
72:39
will see each other sorry brother we’ll
72:42
see each other next time and please do
72:44
not forget to subscribe to our blog its
72:47
blog at GT 247 calm that’s where all the
72:52
information is released

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