Lessons I Learned After Trading For 9 Years

After nine years of trading, I finally stripped my entire strategy down to one thing. Trading just one candle every single day. That's it. And the craziest part is that I'm more profitable now than whenever I use complicated strategies. Here's how it's called the first candle rule. And it does this in three simple steps. First, mark the high and the low of the five minute candle that forms between 9:30 and 9:35am EST or New York Standard Time. These two levels become your entire trading roadmap for the day. Step two, drop down to the one minute chart and wait for a break. Now, to confirm a real break, we need a specific type of behavior. And no, it's not a candle closure and it's definitely not just a wick. What we're looking for is a fair value gap. This shows us whether buyers or sellers are in control and we want to be on the right side of the market. Once this happens, we move to step number three, which is our trade entry. First, we're going to wait for price to dig into the fair value gap gap. But we're not going to enter just yet. We are waiting for one confirmation to filter out the losing trades. And that confirmation is an engulfing candle. Once the retest candle that traded into the fair value gap is engulfed, there is our entry. We place our stop one tick below the low and we target a fixed three to one risk to reward. Now, I want you to save this so you can study this strategy whenever it comes time to trade.