What is Scalping?

The charts should be pretty self-explanatory, so have a read through them and then I’ll wrap it up with some text following the last chart.

Three steps only:

1. Identify the bias (flow, path of least resistance, future trend or whatever you want to call it).

2. Take a wholesale entry in the direction of that bias.

3. Then manage whatever happens.

It's never as easy as it looks after the fact.

Expect consistent losses at first.

Implement a process of deliberate practice.

Trade-Record-Review-Improve!

Build experience through trading (in the sim at first) over and over and over again. In time, your ability to read bias will improve. Your ability to identify better entry locations will improve. Your ability to contain risk will improve. And your results will improve.

Scalping such as this is not a Holy Grail trading method. And the rapid decision making required in these timeframes does not suit everyone. But if you find yourself attracted to short timeframe action, give it a try on a sim. Maybe it won't be to your liking? Or maybe… like me… you'll have found the place in the markets that feels like home!

(Please note: YTC Price Action Trader is prerequisite knowledge for YTC Scalper)

Lance Beggs


Written by

YourTradingCoach - Admin

No Comments Yet.

Leave a Reply

Message

Please prove you're a person: Time limit is exhausted. Please reload CAPTCHA.