Tuesday, November 22, 2016

Scalping the E-mini Using Trade Scalper Price Action Method

New day traders should take some time to first understand the basics of their trading platform. Knowing how to place a trade, manage a trade, and then exit is vital knowledge. Also, making sure your charts are functioning correctly every day with live data is important. Once the trading environment becomes familiar, it's time to start tinkering with the markets. The goal of course is to find profitable trades. While no trading method can guarantee performance, the strategies taught by John Paul at DayTradeToWin show you how to limit overtrading - trading too much or using very large stops. For many traders, this is helpful because it teaches discipline. It's tempting to place large trades in volatile markets because you know that there is a chance the market can produce that big winner. Instead, John Paul believes being conservative and following an exact plan is better in the long run.

One of the ways to be careful in the market (instead of placing random trades and hoping for the best) is to apply the strategies of a day trading course like the Trade Scalper. The Trade Scalper is exact with the goals and risk: a profit target of about 2 to 4 ticks is used on average. The stop loss is a maximum of six ticks. No matter what, you will try to get out of the market with a loss of six ticks (excluding any broker fees).

As seen in the video, the Trade Scalper software produces signals that tell you to go long or short depending on the market's price patterns. Two types of Long and Short signals can appear: the regular kind and the Dbl Wick. The Dbl Wick signals appear when there are two consecutive wicks. More details are taught in the included live training and downloadable course. Scalping the markets is all about timing - you want to get in and out as quickly as possible. The retail version of the Trade Scalper indicator (not shown in the video) helps in this regard because it plots horizontal and vertical lines on the chart, letting you know when a trade is likely to occur. You can get your ATM Strategy ready (select the pre-configured template that matches current market conditions) and you're set. It's just a matter of following the rules and hoping the market will be consistent.

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