How I Find Day Trading Setups Early in a Trend
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- Опубліковано 27 чер 2024
- 🎓 Trade with me: www.firesidetrading.com/
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My thought process for trading trends and spotting trapped traders.
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DISCLAIMER: These videos are for educational and entertainment purposes only. There are inherent risks associated with investing in securities and other financial instruments. Please carefully consider whether trading is suitable for you given your current circumstances, knowledge, and financial situation.
#DayTrading #FiresideTrading #MichaelChin
Let the haters hate. Glad to see you back Mikey
Keep those live trades coming!!!
Good to see you back!!
Glad to see you doing more videos again 👍🏼👍🏼
Michael, you are so clear in your statements. An excellent way to learn to trade. Thank you.
Great to see you back! Keep the videos coming!
oh man, i'm so glad to see you coming back to youtube aftar along time
welcome back Micheal❤
damn when i saw this vid pop up on my youtube feed, it made me immediately think back to when I was looking to get into futures and I watched all of your videos years back. Welcome back!
Really great video Michael. It is obvious that you understand price action on the CS chart, and having you breakdown the moves with the likely psychology of the market players helped me to finally understand price action with much greater clarity. Thank you so much man! I wish you success in growing your channel. Your videos are having a huge impact on my trading success.
Glad you’re still around. Welcome back.
Great Vid, I appreciate you dropping more content. Are your entries and exits automated or is this a recorded video of you manually entering and exiting your trades?
You're back!! ❤
Wow the dude that got me in the future Trading is finally back man I hope you drop the other guy never liked him got super annoyed when I purchased the day one trading training and I couldn’t access your stuff and got stuck listening to his stuff which I never really liked I preferred your training better but could never access it after I made my purchase I’m definitely going to be jumping on fireside excited to be a customer of yours again thank you for my futures journey it’s been incredible
Thank you for another amazing vid Michael, before you came back I kept rewatching all of your vids. Your an inspiration man have a great day.
Didn't know you were back. It's been years man. Nice to see you again
Welcome back buddy!!! 🙏🏽 ❤
Hey you are back
So glad to see you
YOUR BACK!!!!!!!!!!!!!! BRO I LOVE YOU
Missed you brother glad to see you back !!🔥
Awesome video 😊 just found your channel, liked and subscribed!
Good to see you back 👍
Good to see you back
My man is back!!!!
Happy to see you back Michael
Hi Michael, welcome back. I have been waiting to see your videos. Please can you show a video with your latest setup strategy and live trade
Hey Mike, very insightful. Do you also trade the trend down as part of your strategy?
Good to see you're trading again
glad to see you againnnn :O
In NQ I can give you a tip: they build very toppy patterns that do not break any swings and then pop them. This can involve multiple tops, even a broken swing, but price bounces back from under, sometimes from a fresh double bottom, sometimes from an established second swing.
He’s back! 🙌
I love "live trading" style videos. I often lack confidence in buying/selling, and overthink it, and end up missing out, so it's good to see how others approach it.
MY BOY MIKEY IS BACK!!! Missed you brotha
Thanks for putting this video out for free. Can you explain more about the profit target and stop loss target here, please? Like the first trade, you entered at 4120.25. If this trade went against will you stop out at 4116.27 (below the first green candle after the red one) or even below the red candle? Also, I saw you took all profit at $600. Is that 1x your loss or higher?
I will never go against the trend 📈 This is pure gold and the way you explained it on the chart is phenomenal. Gracias "" very much
Thanks for coming back!!!!!! So you don't scalp for 1 point any longer?
I am trying to trade the Indian Stock Market. The Nifty and Banknifty Options. I wanna become a trader so bad and have been learning a lot from your content. Have been watching all your videos. Great trap trading lessons dude. Your psychology is amazing. A very famous trader from India "The Trade Room" suggested to learn from your videos as he has taken help back in his career from you. Thanks!!
Hello! Nice to see you again, I have a little question, have you made any changes to your chart? Or is everything the same? Are you still using 2000 ticks per candle? And the EMA?
Welcome Back!! follow u yrs ago...now with all this discords are u having one, will follow good content
Welcome back :)
I missed you... :)
Do you use anything besides PA to determine current trend?
Oh he is back.😎
Very informative!
youre back!
welcome back Mike,
Nice to see you making more content bud - 👍🏽
Thank you for the detail explanation. Much appreciated. Please can you show us again on your chart setup and strategy please please please.
Thanks for coming back! I was hoping you would. Like your videos. By the way, I see you're using the 21 EMA. It looks like many traders respect that period. Is it a self fulfilling prophecy or is there something special about 21?
Could you tell us what EMA is your favorite to use?
HE’S BACKKKK
Was wondering when you'd be back lol.
Just made my first 250 using this strategy. You really just have to be making sure to go with the trend. Thank you michael
"This strategy"? What strategy? There's no clear articulation of a strategy in this video.
Hi Chin, mind If you share any tips or preps before and after trading ... Thanks 😎
welcome back michael
Keep trading brother glad to see u back please keep doing live trading
Did you short the reversal? Or was it just a larger pullback?
Yay your back, I was wondering what happened to you!
which EMA do you use ?
Do you use any other indicators such as MACD or VWAP?
Hey bro, can u please tell me what platform you are using to trade micro in??
You are amazing❤️
Thank you for the great info - can you tell me what charting software this is?
Ninja Trader
I love how people fail to see what is going on. So you basically took 15 minutes to explain a pullback strategy, all based on a trapped trader concept (which is not really what is happening). Clearly, the downward moves in the uptrend are predominantly traders who take profit (there are not trapped traders by any means), so it is NOT just trapped traders. Secondly, no clear entry or exit conditions or even any risk management mentioned. And finally, at least you show the most basic mistake ever - not following your "plan" and then entering into a position with an inappropriate stop loss.
So, in your scenario, as the market came down from mere profit-taking: A) absolutely no one tried to short the top or B) if anyone did, they took profits, flawlessly, alongside every long in a completely orderly fashion where everyone profited in perfect harmony. OK.
I found myself thinking the same thing. I'll admit I don't know the concept of "trapped traders" well, but it seems like you could explain this entire video by saying "go to 1M chart, wait for price to cross the 21EMA, wait for price to bounce off EMA & enter on completion of first green candlestick". 🤷♂
EXACTLY what I was thinking.
are there any videos that you would recommend?
@@moistcu Anything by ImanTrading, the guy even exposed frauds like michael and riley...
Hey thanks for the video. Which EMA are you using on this 1 minute chart?
I use a 21 EMA
Bro you ever tried ict concepts applied to your trading?
Are still using ticks for your scalping plan? Or the one minute?
I'm so glad you started uploading again man. Idk what made you stop but everyones got life going on, one of my favorite investors to study from.
Trading is not investing.
What is the EMA value you use to trade?
I always enjoy your videos because you explain the psychology behind the charts and what’s going on in the minds of buyers and sellers in an easy to understand way. Thanks for your videos.
can you please do another video of how to make an account and do your settings 🙏
wow you have returned sir 😀
Thank you! Beautiful commented and executed trades. This is an excellent case study x3!
Thank you for sharing.. Which EMA do you use on 1 minute?
21
What’s the name of the bot you’re using? I’d like to try it out. Thanks
Thankyou sir ji
Which EMA is that?
Reminds me of that game in the Price is Right TV game where the hiker slowly goes up and up and up and if he goes up all the way to the top he then falls hard.
What happened to the 2000 tick chart? You use 1 min candles now?
Do your due diligence and research. There a reason.
IT would Be Nice to know your Time frame? 🙏
Hey Mike! What EMA is that? 5,8,10?
Hey Michael, great quality video. Do you have any tips for someone who also wants to get into the course selling business?
If you want to get into the course-selling business, do clickbait videos like this one.
@@herrickinman9303 i know i was just saying that as a way of calling this guy a scammer
Hi, how do you close partialy?
Michael, you are giving away all the secrets. lol. i use this technique 100% of the time. It's really simple; wait for the 9 EMA trend to form, when the candles bounce off the 9 EMA, buy. Whatever you do, do NOT buy when the candles are floating over the trend line. You want to buy when the candles are on the trendline.
I use the 9 EMA also. I like when it crosses the 20 SMA. Will have to try out Michael's use of the 21 EMA.
Time frame???
What is the Time Frame of the chart and what is the EMA value?
which ema do u use sir
Hello MICHAEL what # is your ema ? Thanks.
How can be so cool bro 🔥🔥🔥
70% to 80% trades are made by high frequency bot computers . new and average traders dont have the capitol to move the market like you think its not the early 90's .
The bots cannot be trapped by other bots? The bots are not playing to trap traders?
What is Ema setting?
Love you bro
Michael question, I have my chart set to 1600 ticks because it usually still goes to 2000-2500 ticks before the candle actually closes. How important is that based on the trade with the 2000 tick charts going for one point. is your broker exact 2000 contracts and the bar closes? Thanks for everything learning and applying your craft.
The number of ticks per candle is not the number of contracts traded.
What broker ? How much capital is needed to trade 5 contracts?
Seems like could just as easily reverse
Can you so us a trade? Futere trade in and out with leverage. Thnx
how is it that you don't have Spread in your trading? does your broker offer zero spread?
Please keep making videos. The way you explain what’s going on is so helpful 👍🏼👍🏼👍🏼
Tell us which Ema we use
I am doing as well some live trading in future, next week i will post my funded account challenge live!
Looking back at your older videos you trade the 2000 tick chart and 1 point scalp. Watching this video I’m wondering if you’ve changed your strategy?
His strategy hasn't changed: buy when it look like it's going up, sell when it looks like it's going down, but don't get trapped and wait for a "two-legged pullback" because the market likes to move in twos. LOL
God damn it it really is you!!! Boy where the hell you been ???
which number ema?