Scalping Expert: I Turned $700 into $89K with ONE Setup Most Traders Ignore!

About this video

• Video Title: Scalping Expert: I Turned $700 into $89K with ONE Setup Most Traders Ignore!
• Channel: Titans Of Tomorrow
• Speakers: Dave
• Duration: 01:01:42

Overview

This video features an interview with trader Dave, who details his journey of turning a $700 account into $89,000 in three weeks. He emphasizes his trading strategy, which focuses on market structure and a fractal approach, ignoring traditional time constraints. Dave shares his specific entry setup, risk management techniques, trade management strategies, and insights into trading psychology.

Key takeaways

• Fractal Market Approach: Dave believes the market is fractal and not bound by time, allowing him to trade on very low timeframes like 1-second charts.
• A+ Setup: He relies on one specific setup that provides consistent trading opportunities, emphasizing the importance of identifying points of interest (POIs) and waiting for price consolidation and shifts.
• Top-Down Analysis: A crucial part of his strategy involves analyzing the market from higher timeframes (daily, 4-hour, 15-minute) down to the 1-minute timeframe to establish direction and identify POIs.
• Liquidity and Manipulation: Dave highlights the significance of understanding liquidity pools, sweeps, and manipulation as precursors to high-probability entries.
• Risk and Trade Management: He discusses managing risk per trade, the concept that win rate is a reflection of following a plan, and trailing stops or using specific EMAs for exit strategies.
• Psychology and Experience: Dave stresses that intuition in trading is developed through experience and execution, not just theoretical knowledge, and advises against chasing losses or emotional trading.
• Live Trading vs. Prop Firms: He prefers live trading, believing prop firms' business models can be predatory, and advises new traders to start small in a live account with leverage.