Best "Scalping" STRATEGY in 10 MINUTES l $500/day l Stocks Futures Options Crypto Forex (FULL GUIDE)

Summary

In this YouTube video, the host outlines a scalping strategy for making $250 to $500 daily, emphasizing no need for a large portfolio. The tutorial covers risk and trade management, starting with observing market trends for the first two hours to establish highs and lows. It then uses the previous day's price action to identify liquidity zones and employs the VWAP indicator for entries and exits. The host demonstrates practical application with a trade example, including trimming positions at the VWAP band and setting stop losses to breakeven. The video concludes with an invitation to join the host's Discord community for live trades and analysis.

Takeaways

• 💼 The video discusses a scalping strategy for making $250 to $500 per day without needing a large portfolio.
• 🔗 The presenter encourages joining a free Discord community for daily trade posts and analysis from a team of analysts.
• ⏱ The strategy involves using a 5-minute timeframe on TradingView for trading decisions.
• 📈 It's advised to avoid trading during the first two hours of market open to gather data and establish market structure.
• 📊 The presenter outlines the importance of identifying highs and lows within the first two hours of market open.
• 📉 The strategy uses the previous day's price action and wicks to identify buy-side or sell-side liquidity.
• 🔍 The presenter demonstrates how to use liquidity zones and the volume-weighted average price (VWAP) indicator for entries and exits.
• 📉 Trades are entered on a retest of liquidity zones and managed using the VWAP indicator for take profits and stop losses.
• 📈 The video provides an example of a trade taken by the presenter, including entry, management, and exit strategies.
• 💹 Trade management involves taking multiple contracts and trimming positions at different profit levels to secure gains and reduce risk.
• 🔗 A guide on how to trade options is promised in the video description for viewers interested in learning more.

Q & A

What is the scalping strategy discussed in the video?

The scalping strategy discussed in the video involves making consistent $250 to $500 per day by trading in the stock market. It emphasizes not needing a big portfolio and focuses on risk management and trade management.

Why is it suggested not to trade during the first two hours of the market open?

The first two hours of the market open are not used for trading because it's a period to gather data and understand market structure. This helps in identifying the sentiment of the day, price action, and marking out potential highs or lows for the day.

What is the significance of mapping out highs and lows during the first two hours of the market?

Mapping out the highs and lows during the first two hours helps to identify potential areas of resistance or support for the day, which can be used as entry or exit points for trades.

How does the presenter use previous day price action to identify trade opportunities?

The presenter uses previous day price action, wicks, and candles to identify buy-side or sell-side liquidity areas. These areas are then used to anticipate price movements and identify potential entry points for trades.

What is the role of the 5-minute time frame in this strategy?

In this strategy, the 5-minute time frame on TradingView is used to execute trades. It allows traders to focus on shorter-term price movements and execute scalping trades effectively.

What does the presenter mean by 'liquidity' in the context of this strategy?

In the context of this strategy, 'liquidity' refers to areas on the price chart where there is significant buying or selling pressure. These areas can act as support or resistance and are used to identify potential entry points for trades.

How is the VWAP indicator used in this trading strategy?

The VWAP (Volume Weighted Average Price) indicator is used to determine entry points, stop-loss levels, and take-profit levels. It helps in identifying overvalued and undervalued price levels relative to the average price and volume on the day.

What does the presenter suggest as a good practice when taking multiple contracts in a trade?

The presenter suggests taking multiple contracts and trimming them at the VWAP band to reduce risk and secure profits. This practice is recommended to manage risk effectively and maximize returns.

How does the presenter manage risk in this strategy?

The presenter manages risk by setting stop losses to break even after securing profits on some contracts, using the VWAP indicator to determine entry and exit points, and by trimming positions to reduce exposure as the trade moves in the favorable direction.

What is the importance of the Discord community mentioned in the video?

The Discord community is important because it provides a platform for the presenter to post trades, analysis, and interact with a community of traders. It also allows for real-time sharing of trading insights and strategies among members.

What advice does the presenter give regarding the selection of contracts for trading?

The presenter advises against taking zero DTE (days to expiration) contracts and prefers to have some wiggle room, suggesting to take one or two DTE contracts for a more conservative trading approach.