This an my idea of a scalping strategy.
Just walk through the candles for yourself from left to right.
I draw S+D tight to get a better entry.
But I also draw S+D larger to get out early and allow for front run.
If I knew and used S+D 1 year ago when all I was doing was scalping, BOY, today would be different story. Better late than never. Thankyou Unity Trading Group!!
SL on this chart will move as I build positions on 3 orders, and I also take the wick into consideration for SL but not TP.
Scalping is basically taking in a lot more information visually. So important to only think of the information that works for you. Must cipher out a lot and keep confusion to a minimum.
I can also add VPVR, BB, SMA, and flip between 5 min, and 1 hour TF.
So, I try and keep it simplE with RSI, SR, S+D, MS and type of candles and length of candles.
Scalping shouldn't be stressful either. For me its just making quicker trades over and over again. using 10x aim for 1% move ROI is 10% on any capital involved. You have to know your edge with scalping though. Using the right indicators for you to determine entries and exits.
On LTF the PA can turn around and run at any moment. I play safe on scalps. Smaller targets. Get in quick and get out quick on my T/A. Look for another op. There are hundreds trading these TF. (Whether it coincides on the 1 or 4 hour, I will let it run)
I use supply and demand hugely on scalp and that determines whether bodies or wicks
most of time is basic structure and respect of these levels.
Very Important to trade with the right position size...
Manage your risk...
and use stop protection for your psychology and your account balance!
I will take no responsibility for your actions. You actions are your own and so are your trading decisions.
Enjoy and have fun out there....
Just walk through the candles for yourself from left to right.
I draw S+D tight to get a better entry.
But I also draw S+D larger to get out early and allow for front run.
If I knew and used S+D 1 year ago when all I was doing was scalping, BOY, today would be different story. Better late than never. Thankyou Unity Trading Group!!
SL on this chart will move as I build positions on 3 orders, and I also take the wick into consideration for SL but not TP.
Scalping is basically taking in a lot more information visually. So important to only think of the information that works for you. Must cipher out a lot and keep confusion to a minimum.
I can also add VPVR, BB, SMA, and flip between 5 min, and 1 hour TF.
So, I try and keep it simplE with RSI, SR, S+D, MS and type of candles and length of candles.
Scalping shouldn't be stressful either. For me its just making quicker trades over and over again. using 10x aim for 1% move ROI is 10% on any capital involved. You have to know your edge with scalping though. Using the right indicators for you to determine entries and exits.
On LTF the PA can turn around and run at any moment. I play safe on scalps. Smaller targets. Get in quick and get out quick on my T/A. Look for another op. There are hundreds trading these TF. (Whether it coincides on the 1 or 4 hour, I will let it run)
I use supply and demand hugely on scalp and that determines whether bodies or wicks
most of time is basic structure and respect of these levels.
Very Important to trade with the right position size...
Manage your risk...
and use stop protection for your psychology and your account balance!
I will take no responsibility for your actions. You actions are your own and so are your trading decisions.
Enjoy and have fun out there....