Hello everyone. My name is John Paul. DayTradeToWin.com. Today is Aug. 5, 2014. We're going to scalp trade the E-mini S&P 500 using the Trade Scalper method. There were a few trades already - a short at 1925 and a long at 1928.25. The software that's included with the course provides all the entries for you. I decided to pull up my DOM and show you how I like to scalp the markets. I'm using a 1-min chart. This method is taught in its entirety. It's completely mechanical and objective, which is very important. The best part about it is there are no moving averages, no MACDs, no conventional indicators whatsoever. It doesn't matter if you're trading currencies or the U.S. indices, FTSE, DAX, or Euro markets. There's a short trade about to happen. It's called a double wick short entry. There it is. The software gave me that entry signal at 1927.25. Remember, when scalping the markets, we are not looking for big profits. We are looking for a small snippet - 2 or 3 ticks at a time.If you look down, you can see how much profit I'm attempting. The ATR (Average True Range) is what I use. I teach this. It's in the course. The ATR tells you what to expect. Currently, I can expect 3 ticks. When it comes to scalping, I look for 2 to 3 ticks. I'm in, I'm out. I want to be done with this and 3 ticks is what I want. The stop on the other hand is a little bit larger because if I know the market can trade like it is currently, I need a larger stop to keep me in the trade. There was a second short setup at 1926.75. And so, I am going to go short again at 1926.75.
It does give multiple signals. I always think the first signal is the best, but in this case, I am taking the second signal. I have 11 contracts on. My stop is 1928.50. My profit is 1926 - just 3 ticks because the current ATR condition is just 3 ticks. When it comes to scalp trading, you're not going to hold this all day long. There's a limited amount of time you're in the market. Every time we jump in, we're subjecting ourselves to risk. It's very important that every trade taken has the highest probability. We don't want to take trades that are based on guesswork. No - we have to have rules, we have to be mechanical with an exact entry, an exact exit.
If the trade is not going to work, we have to know what our stop is. Actually, it just hit my target here. Let's see if it goes through it. And there you go. Okay, so there's the 3 ticks I wanted. I'm going to look for another trade. I'm going to add the text markets to show you exactly where I entered and exited on this trade. If you'd like to learn how to scalp trade the markets using the Trade Scalper course and software, please email us at support@daytradetowin.com or call us at 888-607-0008. Until next time, good trading! .
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