This 1 Minute Scalping Strategy Works Everyday (Keep Trading Simple.)

Summary

In this video, Andrew Aziz, author of *How to Day Trade for a Living*, shares his proven day trading strategies that helped him grow his account into 8 figures. He highlights two key strategies: the Opening Range Breakout, which he uses on AMD, and the 920 strategy for scalping momentum stocks, like Nvidia. Aziz emphasizes the importance of market tools like Market Atlas and stresses the value of consistent routines, risk management, and excellent trade execution. He also discusses a recent loss on Microsoft options and offers insights into how to manage such situations.

Takeaways

• 😀 The two key strategies Andrew Aziz uses in day trading are the Opening Range Breakout and the 920 Strategy.
• 😀 Having a consistent routine, particularly at the New York session open, is crucial for successful trading.
• 😀 The Opening Range Breakout strategy is highly effective, with Andrew using it to successfully trade stocks like AMD.
• 😀 The 920 Strategy, used to scalp momentum stocks, involves buying when a stock pulls back to the 20-period moving average.
• 😀 Andrew emphasizes the importance of using the Market Atlas tool to track liquidity pools and price action for day trading.
• 😀 The 920 Strategy works best on a 2-minute time frame and is often used for short-term trades between 10:00 and 10:30 AM.
• 😀 Andrew advises against overcomplicating trading with too many strategies and indicators, stressing the importance of simplicity and discipline.
• 😀 Trading with good risk management and knowing when to exit a trade is just as crucial as entering it at the right time.
• 😀 Despite having a significant loss on a Microsoft trade, Andrew is confident in recovering the money by rolling the position forward with a strategy based on cash-secured puts.
• 😀 Andrew's trading success is built on a foundation of over 10 years of experience, with ongoing use of proven strategies like the Opening Range Breakout and 920 Strategy.
• 😀 Andrew encourages viewers to focus on transparency, realistic trading tips, and continuous learning through his educational resources and live sessions.

Q & A

What are the two main strategies Andrew Aziz uses in day trading?

The two main strategies are the Opening Range Breakout (ORB) and the 920 Strategy for scalping momentum stocks.

How did Andrew Aziz grow his trading account to 8 figures?

He grew his account by following a consistent routine that he could rinse and repeat every morning at the New York session open, focusing on simple, effective strategies.

What is the Opening Range Breakout (ORB) strategy?

The ORB strategy involves trading based on the market's price action within the first few minutes after the market opens, typically looking for breakout opportunities.

Can you explain the 920 Strategy that Andrew Aziz uses?

The 920 Strategy involves buying a stock after it pulls back to the 20-period moving average on a 2-minute chart, with the goal of profiting from a reversal to the upside.

What is the significance of the Market Atlas tool in Andrew's trading?

The Market Atlas tool helps day traders identify liquidity pools and key levels in the market, aiding them in making more informed trading decisions, especially for scalping.

How does Andrew manage his trades using the Market Atlas?

Andrew uses the Market Atlas to gauge market strength and liquidity. He looks for bullish signs and positions himself accordingly, such as entering long positions when liquidity pools align with price action.

What happened during Andrew's big loss on Microsoft options?

Andrew sold cash-secured puts on Microsoft at a price of $405 but suffered a loss when the stock dropped. However, he rolled over the position to the next week and hopes to make up for the loss if Microsoft rebounds above $400.

Why does Andrew believe in focusing on just a few strategies instead of many?

He believes that mastering a few solid strategies, rather than trying to use many, is the key to making consistent money in day trading.

What are the key takeaways from the strategies Andrew discussed in the video?

The key takeaways are the importance of focusing on simple strategies like ORB and the 920 Strategy, practicing excellent trade and risk management, and using tools like Market Atlas to make informed decisions.

How does Andrew handle risk in his trades?

Andrew practices excellent risk management by setting stop losses and adjusting his positions based on the market's behavior. He also emphasizes the importance of knowing when to exit a trade.