The First 5 Minute Candle Strategy That Works Daily.

I only use one candle to trade every single day. I mean, it is literally stupid simple. And I mean that in the best way possible because after nine years in the markets, what I've learned is that stupid simple is always best. The more you complicate your trading, the more money you're going to lose. So here is what finally made everything click for me. It's called the first candle rule and it uses the first five minute candle the day to give you everything that you need in order to place your trades, your stop loss and your target. Here is how it works. First, mark the high and low of the 5 minute candle that forms between 9:30 and 9:35am Then drop down to the 1 minute chart and wait for a break. Now, to confirm a good break, we need a specific type of behavior. And no, it's not a candle closure and definitely not just a wick. What we're looking for is a fair value gap. This shows us that the big players are pushing the market and we want to be on the same side of the market as them. Once this happens, we enter our trade and we put our stop loss at the first candle that closed outside of the range. You don't have to wait for the market to trade back into the fair value gap because the market is likely to run very quickly. And for your target, you just use a fixed 2 to 1 risk to reward. Now I want you to save this. That way you can study the strategy when it comes time to trade.