20,000 Hour Trading Strategy

[0:00]It took me over seven years to find this strategy that made me consistently profitable. Let me teach it to you in under three minutes. Every morning at 9:30 Eastern Standard Time, I open my charts and look for key price action from the overnight and the pre-market data. Marking off key areas of support or resistance where I think the market is likely to reverse off of. Then I go into a one-minute chart of the same market and I look for 30 minutes after the market opens. The S&P 500 for me opens up at 7:30, so I mark 7:45 and 8:00. These are key times in the market where I have consistently noticed that it will cause a reversal in the market. And so I like to be hyper aware of when these times show up. Once the market opens at 7:30, I watch to see the price movement of those first 15 minutes. Does the market make a flush up or a flush down into one of my support zones and as well as one of those reversal timings. The four key factors I want to see for entering into a reversal is one, this moved down into this zone and my reversal timing is it needs to be a strong flush down. If the market's all choppy and not moving easily, it's unlikely to reverse easily. Good trades happen in volatile markets. Number two is the current trend that it's in needs to be broken. And so to do that, I either look at a trend line based off of the current trend if and when that has been broken, or I watch the swings of the current trend. What are the lows and the highs doing? Once the market stops making lower lows and lower highs and starts making a higher low and potentially a higher high, well, that is another key that the trend is shifting. And then finally, going into a recording of this, the last thing I'm looking for to complete this head and shoulders is have this big bullish candlestick break the highs here. And then when that happens, I enter in an order, betting that the market's going to go higher and I put my stop below the previous swing low because I'm going with the swings of the market. And then so for a target, I'm looking to see the downtrend get reversed all the way because when the market moves down in such a rapid fashion, it's an unhealthy trend and it's likely to reverse higher. And so ideally, at a minimum, I'm going for two times my risk or even better is three times my risk. And so I slowly manage and target those rough areas. And as it gets up with this specific trade, I primarily close out at two and a half my profit for a little over $4,500.