BTCUSD: Brief Analysis Along With Take Profit on Scalps
Hi Everyone! Brief discussion on analytics for current price movement. As well as discussion for the "High Time Frame Scalper" using the "Short Term Group" of time frames for entry and exit while using certain time frames in the Near Term Group to determine the trend for your scalp long positions or scalp short positions.
Money Management Example with $1000 Trading Capital for Easy Math:
1,000 - Total Trading Capital on the exchange.
800 - 80% of your trading capital LIMIT for each position you open if you have more than one position open at any given time.
Let's say this is your first SET of goals with Wyckoff Mode Scalping Method:
1. Use the percentage spread tool within Bad Ass B-Bands to make sure a minimum of 4% price movement potential to target #1
Example: Target #1 for a Long position from the white lower b-band to the Basis. Basis is Target #1.
Example: Target #2 for a Long Position may be continuation up from the Basis to the white/aqua upper b-bands. White/Aqua Upper being Target #2. Target #2 may be additional 4% or more gain.
2. Plan Your Trade by knowing what you will do in your scalp before hand. Don't try to knock it out the park on every trade. Learn to control greed and take profit. Explained later...
Where you will open your position (white/aqua upper; white/aqua lower or b-band basis)
Where you will take partial profit on your position while letting the rest ride - OR - where you will take full profit; closing the trade all together.
Where will you set your 2% stop loss and your position.
3. Never have more than 80 percent of your total "trading" capital in a leveraged position.
Example:
6,250 - Total Trading Capital on the exchange
5,000 - 80 Percent of total trading capital
You believe you can find, plan and execute two (2) scalps with four plus percent (4+ %) price movement potential to first target range 15 days out of 30 days in a month.
This equals 30 trades each month with 4+ % price movement to first target range.
You believe you can have a 70% win rate on your wining trades.
You agree to allow compounding to work its magic to help your position "size" for each set of trades grow; resulting in gains per "set" of trades growing.
Let's say your starting "trading" capital is $6,250.
No position is to be more than 80% of your trading capital. $5,000 is 80% of $6,250. Your first two positions you open are not to be more than $5,000 positions each.
You are willing to analyze, plan and execute two (2) scalp trades at any given time once every two days during your first 30 days.
Once you calculated what 80% of your total trading capital is on the exchange ($5,000 in my own example), you DIVIDE that $5,000 by two (2).
Why divide $5,000 by two (2) ? ? ?
Because you are willing to analyze, monitor, plan and execute actual LIVE trades at any given time.
The number you use to divide your 80% capital by is the number of trades you are will to have open at any given time.
$5,000 divided by 2 = $2,500.
Each leverage position I open is to be $2,500 at 2 x Leverage = $5,000 Position. This is 80% of my total capital and I can have two (2) $5,000 positions open at any given time.
Make sure to set a stop loss in the ball park of 2% of your POSITION.
2 percent of $5,000 = $100
How much total trading capital do I have on the exchange in my example? $6,250 is the answer.
My $100 Stop Loss on my $5,000 POSITION = 1.6% of my Total TRADING Capital.
This will give you an extra 0.4% buff to help keep losses of your Total TRADING Capital at 2% or less PER TRADE.
The following is an example of what 30 Scalp Trades with 70 Percent Win Rate (21 wins and 9 losses); Having 4% average gain per winning trade and 2% average loss per losing trade: i.imgur.com/x5VYNf3.png
Here is 30 Scalp trades with 80% win rate (24 wins and 6 losses); Having 4% average gain per winning trade and 2% average loss per losing trade: i.imgur.com/ZQYmYFT.png
More details need to be provided. This should be enough for now.
Money Management Example with $1000 Trading Capital for Easy Math:
1,000 - Total Trading Capital on the exchange.
800 - 80% of your trading capital LIMIT for each position you open if you have more than one position open at any given time.
Let's say this is your first SET of goals with Wyckoff Mode Scalping Method:
1. Use the percentage spread tool within Bad Ass B-Bands to make sure a minimum of 4% price movement potential to target #1
Example: Target #1 for a Long position from the white lower b-band to the Basis. Basis is Target #1.
Example: Target #2 for a Long Position may be continuation up from the Basis to the white/aqua upper b-bands. White/Aqua Upper being Target #2. Target #2 may be additional 4% or more gain.
2. Plan Your Trade by knowing what you will do in your scalp before hand. Don't try to knock it out the park on every trade. Learn to control greed and take profit. Explained later...
Where you will open your position (white/aqua upper; white/aqua lower or b-band basis)
Where you will take partial profit on your position while letting the rest ride - OR - where you will take full profit; closing the trade all together.
Where will you set your 2% stop loss and your position.
3. Never have more than 80 percent of your total "trading" capital in a leveraged position.
Example:
6,250 - Total Trading Capital on the exchange
5,000 - 80 Percent of total trading capital
You believe you can find, plan and execute two (2) scalps with four plus percent (4+ %) price movement potential to first target range 15 days out of 30 days in a month.
This equals 30 trades each month with 4+ % price movement to first target range.
You believe you can have a 70% win rate on your wining trades.
You agree to allow compounding to work its magic to help your position "size" for each set of trades grow; resulting in gains per "set" of trades growing.
Let's say your starting "trading" capital is $6,250.
No position is to be more than 80% of your trading capital. $5,000 is 80% of $6,250. Your first two positions you open are not to be more than $5,000 positions each.
You are willing to analyze, plan and execute two (2) scalp trades at any given time once every two days during your first 30 days.
Once you calculated what 80% of your total trading capital is on the exchange ($5,000 in my own example), you DIVIDE that $5,000 by two (2).
Why divide $5,000 by two (2) ? ? ?
Because you are willing to analyze, monitor, plan and execute actual LIVE trades at any given time.
The number you use to divide your 80% capital by is the number of trades you are will to have open at any given time.
$5,000 divided by 2 = $2,500.
Each leverage position I open is to be $2,500 at 2 x Leverage = $5,000 Position. This is 80% of my total capital and I can have two (2) $5,000 positions open at any given time.
Make sure to set a stop loss in the ball park of 2% of your POSITION.
2 percent of $5,000 = $100
How much total trading capital do I have on the exchange in my example? $6,250 is the answer.
My $100 Stop Loss on my $5,000 POSITION = 1.6% of my Total TRADING Capital.
This will give you an extra 0.4% buff to help keep losses of your Total TRADING Capital at 2% or less PER TRADE.
The following is an example of what 30 Scalp Trades with 70 Percent Win Rate (21 wins and 9 losses); Having 4% average gain per winning trade and 2% average loss per losing trade: i.imgur.com/x5VYNf3.png
Here is 30 Scalp trades with 80% win rate (24 wins and 6 losses); Having 4% average gain per winning trade and 2% average loss per losing trade: i.imgur.com/ZQYmYFT.png
More details need to be provided. This should be enough for now.
Comment:
UPDATE:
I'm waiting for the new Daily candles to begin and let about an hour go by in the next candle before providing an update.
I'm waiting for the new Daily candles to begin and let about an hour go by in the next candle before providing an update.
Comment:
UPDATE:
Video Update is uploading. I'll publish it in a few minutes. Short Term: Looks like $30,500 to $30,750.
Video Update is uploading. I'll publish it in a few minutes. Short Term: Looks like $30,500 to $30,750.
Comment:
Simply posting this for future reference: