This 1 Minute Scalping Strategy Works Everyday (Stupid Simple and Proven)

Summary

In this video, the trader shares a simple, mechanical strategy for consistently profiting in the market. The strategy focuses on trading the opening range during the first two hours of the New York market session, using a 15-minute opening range and lower time frames to identify high-probability trades. The trader explains how to mark out the high and low of the first 15-minute candle, identify entry points through breakout, retest, or reversal setups, and manage positions. Real-life examples with stocks like Tesla, Nvidia, and QQQ demonstrate how to implement the strategy effectively.

Takeaways

• 😀 The strategy discussed is simple, reliable, and repeatable, making it ideal for consistent profits in the market.
• 😀 The strategy doesn't require fancy indicators or daily bias, making it beginner-friendly and easy to execute every day.
• 😀 The strategy focuses on trading the first candle of a new market session to define an 'opening range.'
• 😀 The 'opening range' is defined by the high and low of the first 15-minute candle in the New York session, which is preferred due to its liquidity and volatility.
• 😀 Different timeframes (1-minute, 5-minute, 15-minute) are used to identify the opening range, with the 15-minute timeframe offering the best liquidity and reliability for beginners.
• 😀 Three types of entry models are discussed: breakout, retest, and reversal setups, with breakout being the most common for continuation trades.
• 😀 The opening range break is the most straightforward entry, where a 5-minute candle closes above or below the 15-minute range, signaling a breakout.
• 😀 The retest setup involves waiting for price to return to the opening range level after the breakout, offering a safer entry for continuation.
• 😀 Reversal setups occur when price fails to continue in the breakout direction and instead reverses. These setups are more common when the market is ranging.
• 😀 The New York session is the primary focus for executing this strategy due to its high volatility, while the London and Asia sessions can also be used based on personal preference.
• 😀 Real-time examples of trades with Tesla, Nvidia, and the QQQ showcase how to apply the strategy in different market conditions, using both breakout and retest setups.

Q & A

What is the main trading strategy discussed in the video?

The main strategy discussed is a simple and reliable trading approach that focuses on trading the opening range of a new market session, specifically the first candle of the session, to make consistent profits.

How does the opening range strategy work?

The strategy involves marking the high and low of the first 15-minute candle during the New York session open, then waiting for a 5-minute candle to close above or below this range. Once this happens, the trader moves to a 1-minute chart to find entry points for continuation.

Why is the New York session emphasized for this strategy?

The New York session is chosen because it has the most volatility and liquidity, making it ideal for capturing significant market movements and forming clear opening ranges.

What time frames are used in this strategy?

The strategy uses three time frames: 15-minute for marking the opening range, 5-minute for confirming a breakout or breakdown, and 1-minute for finding precise entry points for continuation.

What are the three types of entry models mentioned?

The three entry models are: 1) Breakout/Opening Range Break, 2) Retest of the range, and 3) Reversal setup when the price moves against the initial breakout.

What is the significance of the first candle in the New York session?

The first candle's high and low are important because they mark the opening range, which serves as the basis for the potential trading opportunities during the session. It provides a strong point of liquidity and market direction.

Why is the 15-minute time frame recommended for beginners?

The 15-minute time frame is recommended because it provides a good balance between liquidity and volatility, offering clearer signals for traders compared to shorter time frames, which may be too fast-paced for beginners.

What does a bullish gap indicate in this strategy?

A bullish gap, which forms when price moves sharply above the previous range without returning, is a strong signal that the market is likely to continue in the upward direction.

What is the role of the retest entry model?

The retest entry model involves waiting for the price to retrace to the breakout point before entering a trade. This model is preferred when there is no clear bullish gap and helps confirm that the breakout is legitimate.

How can a reversal setup be identified in the strategy?

A reversal setup is identified when price breaks back through the opening range after an initial breakout, signaling a potential mean reversion. The trader then looks for confirmation on lower time frames to enter a position.