Home Trading Strategies How To Become A Super Scalper (It’s Not What You Think)

How To Become A Super Scalper (It’s Not What You Think)

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How To Become A Super Scalper (It’s Not What You Think)

hey hey what’s up my friend so in today’s episode I want to talk about how do you become a super scalper what are the things that you must know so just a brief overview of what scalping is right so scalping is one of the fastest form of trading that you can find right most traders they are scalping the markets even without the chance they just look at the order of load and look at a bit and offers and you can make their trading decisions from there and at the same time there are some couples we all who trade off the one minute time frame the three-minute time frame and you can trade anywhere from you know 20 30 40 50 times a day so you can see that scalping really is a high frequency trading you know there’s a lot of things going on it’s fast paced and let me share with you right what it takes you know to become a super scalper so how to become one number one you must know your market you must know the behavior of your market you must know the market as dough as you treat her as your wife he must really get really intimate with her so this is why as a scalper you only pretty much trait one or two markets maybe the most three markets and you really understand the behavior of the market deep inside it’s like you know having a wife if she’s not talking to you you know what’s wrong immediately maybe you didn’t clear the trash maybe didn’t make her happy maybe forgot above date whatsoever it’s the same for knowing the market you know how the market behaves whenever it breaks above the previous day height does it lead to a continuation in a move with follow-through or does it reverse back lower or maybe southern markets right it’s correlated with certain markets for example back in my prop trading days right the Nikkei futures is correlated with the Japanese yeah so it’s a scalper right you have to know the correlation between these different markets and also it’s a scalper you have to understand right the hours of the market day they are treating what time of the day is the most volatile what time of the day is the least volatile and for most markets right usually the lunch break that’s where the markets are quiet market is usually in the range it’s not moving much and usually in the opening hours right that’s where the market is the most volatile as well as the closing so it’s a scalpel you have to know all these details that is your bread and butter you have to know her well you have to know your markets well so there’s a first criteria of being a great couple you have to know your markets really well number two as a super scope oh you’ve got to be willing right to protect your open profits because let’s face it right scoping is career it’s a job that picks any rich off 14 hours a day right it’s probably your main source of income and you want to protect your main source of income so back then in my prop trading days I have a boss who have this $500 rule so every day right we need traits if he’s down $500 for the day he will get up from his chair leave the office and never come back for the day and he’s pretty much done for the day so in a way right he’s maximum loss for the day is $500 but what if you know it leaks that see he’s up $2,000 for the day how does he approach there so again he used a trailing stop loss timing so let’s say he’s up $2,000 for the day again he’s not gonna be really ready to give that all $2,000 of open profits what do you do is that he will again have a trailing stop loss the most he’ll give back is $1,000 so he’s willing to wager at the $1,000 of profits that he’s earned for today to see if he can make it into something bigger if he can NEC no open profits for the day it’s down to $1,000 right meaning he he made $2,000 initially he lost $1,000 right right now he’s up $1,000 for the day he was stopped trading and again leave the office so this way he protects his downside and still let his upside run as much as possible so when you take all this right a look at 20 trading days in a month or 22 trading days in a month you realized that his maximum loss for the day is 500 ollars but certain days that he really make money can make a few thousand dollars $10,000 $20,000 right so that’s how we know he kind of he’ll make a career out of stopping right and that’s what really no super scalpels professionals couples that’s how they look at scalping the markets and number tree you have to be versatile so what I mean by this is that it’s a scalpel you can’t just rely on one fixed pattern like oh I only treat breakouts right now you’re scalping the markets right you’re not taking a swing opposition trading approach where you can you know look at 50 60 markets and cherry-pick your trading setups know as a scalper right you only have you know one or two markets that you’re trading and if those markets happen to be in the range then clearly breakup setup right won’t be suited for those market conditions so it’s a skull boy you’ve gotta be versatile you have to be willing to trade breakouts you have to be willing to take counter trend trades you have to be willing to take trend continuation trades you have to believe to be willing to trade in the range you have to be willing right to take trades according to the current market environment you can you know cherry-pick your trading setup based on what you know no you have to react according accordingly right to how the market is in right now and that’s how I write a good scalpel it’s like they can adjust their trading strategy right to the current market environment they are versatile they can trade different trading a strategy and three techniques and much more and before SS couple you must visualize what the markets can potentially do and this is especially important when you are trading you know important news release I need non-farm payroll – FOMC earnings o whatsoever because SS couple things a source of fast pace when the news is released and then you think of what I should do now it’s too late because the move would have already occurred so what super couples what they do right is that before the news even comes up right some of them back never I see in my property may still go down for smoke break and during a smoke break they start to visualize what the market could potentially do so for example let’s say F FOMC right the market is has raise interest rates and the price drops then the other stuff if the price drops when interest rate rise and what price point will I be looking to buy and what level and then what is the entry trigger right I will be looking for they would get me into the long trade how many units do i buy do i buy fire loss ten loss where will I get off the train if I’m wrong and if I’m right the market moves in my favor where will I look to take profit you can see that they are planning this ahead of time and there’s only one scenario what if interest rate goes let’s say it does it didn’t cut it goes up this day a maybe the price goes up and what point will I be looking to sell the market how many units do I sell and stuff like that so you can see that all these scenarios right meet three or four different scenarios is played up India here even before the news is released so when it event occurs right it fits into one of the inherently just react accordingly according to what their mind has really prepared for and that’s really a hallmark of professionals couples that is what really separates the pros from the amateurs it’s all the mental prep work the visualizations the accompany for all the different possibilities that could happen in the markets that separates right the professionals couples and those you know wanna be treated and also as a couple the fifth thing that you must know is that you must go with the flu so stopping is more of a few rather than something is you know quantified right no like no a step one step two step three step four Step five all checking in I think country it’s a scalper you don’t have the luxury of time to have a checklist a oh this meets my criteria this one mister criteria oh I can take note rate now no because you only have seconds to make decision and if you don’t make a decision right you could lose a trading opportunity or your stop-loss right might be larger than what you expect so as a couple you have to go with the flow because chances are you would have taken thousands of trip before this and this is just not a trade you know then you are thinking and you have to be you have to be familiar right of what you are going to do the actions ahead of time you would probably know what to do already even before you can even you know explain it in words so it’s a scalper you have to be willing to go with the flow and I agree that this is not for most traders you’re the type of trainer that you know you need a checklist right Oh check one check two check three check for check five all five get six all right then you take the trading scalping it’s not for you because you know you just don’t have the luxury of time so before I end you know this this episode I want to say there’s no stopping it’s not for everybody who is it for I would say is mainly for those who are young you know fresh blood out of school if all the luxury of time weed ready and if any liabilities no wife no kids that hey you know stopping is something that you can try right and a proprietary trading firm who you know will teach you along the ways but if you are trainer right maybe you’re like me you have wife you have kids you have I know other liabilities to account for scalping it’s not really something that you want to do right you just don’t have the luxury of time to be steamed down Cho 14 I was a day away from time from your family kids and stuff like that so I would say most of you watching this video scalping possibly it’s not for you but if you happen right to be a scalpel that you think hey this is really for you then bear in mind the points that I’ve just shared with you okay so that’s it I wish you good luck and good trading even enjoyed this episode hit that thumbs up button subscribe to the channel and I will talk to you soon you

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