200 trading hours later, I found something that works for me: "Super-Scalping"
Summary
TLDRThe video script introduces 'super scalping,' an intense, fast-paced trading strategy focused on micro Nasdaq futures contracts. It emphasizes trading small market movements with dynamic thinking and constant adjustment of expectations. The strategy involves using Average True Range (ATR) to determine order sizes and requires a contrarian mindset, focusing on short-term price action rather than long-term trends. The presenter candidly discusses the mental challenges of this approach, including the need for high impulse control and emotional intelligence, and shares personal experiences to illustrate the strategy's application in various market conditions.
Takeaways
- 😲 The speaker introduces 'super scalping', a unique trading strategy that involves rapid, small-scale trades on micro Nasdaq futures contracts.
- 📈 They emphasize the importance of adapting to the market's immediate behavior rather than predicting long-term trends.
- 💡 The strategy focuses on riding small market waves, using Average True Range (ATR) to determine order sizes and entry points.
- 🤔 It requires dynamic thinking and constant reassessment of market direction, which can be mentally demanding.
- 🚫 The speaker is transparent about the strategy's challenges and does not claim it to be a 'get rich quick' scheme.
- 📉 The approach changes based on whether the market is consolidating or showing meaningful directional movements.
- 🔍 Price action is categorized into two types: consolidation and meaningful directional movements, each requiring a distinct trading approach.
- 🛑 The speaker advises against setting stop losses within consolidation zones to avoid low-probability trades.
- 💼 The strategy is described as being like 'flying a kite in a tornado', indicating its high-risk nature.
- 💭 The mental aspect of trading is highlighted, with the need for emotional intelligence and impulse control.
- 💼 The speaker discusses the importance of being contrarian and realistic with profit targets, focusing on small, consistent gains rather than large, infrequent wins.
Q & A
What is the 'super scalping' strategy mentioned in the script?
-Super scalping is an intense and fast-paced trading strategy that involves making numerous small trades by riding the small waves in the market rather than waiting for big structural changes. It requires dynamic thinking and constant adjustment of trading beliefs.
Why does the trader avoid using indicators in their super scalping strategy?
-The trader avoids using indicators because super scalping focuses on immediate market noise and short-term price movements, making long-term predictive tools like indicators irrelevant for this high-frequency trading style.
What role does the Average True Range (ATR) play in the super scalping strategy?
-ATR is used to measure market volatility and to determine the bracket order size. It helps the trader to adjust the stop loss and take profit levels according to the current market conditions, allowing for more flexible and responsive trading.
How does the trader handle the mental aspect of super scalping?
-The trader acknowledges the mental challenges of super scalping, which requires high focus and quick decision-making. They mention the importance of emotional intelligence and impulse control, and suggest that overthinking can lead to poor trading decisions.
What is the trader's view on trading styles that don't align with their personality?
-The trader respects different trading styles even if they don't personally align with them, emphasizing that not everyone will be suited for super scalping due to its intensity and the need for a specific mindset that can handle high-paced decision-making.
Why does the trader believe that setting an auto break-even on trades might not always be beneficial?
-The trader has found that moving the stop loss to break-even plus a little bit often results in missing out on larger profits, as the trade closes at the break-even point and then continues in the original direction of the trade.
How does the trader decide when to enter and exit a trade in the super scalping strategy?
-The trader enters and exits trades based on their assessment of the most likely short-term price movements, using market volatility and price action to determine the timing and the size of the bracket orders.
What is the significance of trading during the market open in the super scalping strategy?
-Trading during the market open is crucial for super scalping because that's when volatility is typically the highest, providing more opportunities for small, quick trades that the strategy capitalizes on.
How does the trader approach trading during periods of consolidation versus periods of meaningful directional movements?
-During consolidation, the trader focuses on being contrarian and trading the small fluctuations within a tight range. In periods of meaningful directional movements, the approach shifts to following the trend more closely, with the expectation that price will continue to move in the new direction.
What advice does the trader give regarding the use of bracket orders in super scalping?
-The trader advises using bracket orders with set targets for take profit and stop losses for each trade, and emphasizes the importance of adjusting the size of these orders based on current market volatility and price action.
Outlines
🚀 Introduction to Super Scalping Strategy
The speaker introduces a unique trading strategy called 'super scalping,' which focuses on making numerous small trades in a fast-paced manner. Unlike traditional trading methods that aim for significant market shifts, super scalping capitalizes on minor price movements. The speaker emphasizes the importance of dynamic thinking and adaptability, as well as the use of Average True Range (ATR) to determine trade size. They also discuss the psychological aspects of trading, highlighting the need for self-awareness and the challenges of maintaining a contrarian mindset.
📊 Adapting to Price Action in Super Scalping
The speaker elaborates on the two categories of price action in super scalping: consolidation and directional movement. During consolidation, the strategy involves making trades within a confined price range, whereas directional movement allows for setting profit targets in new areas. The speaker stresses the importance of identifying the type of price action to adjust trading approaches effectively. They also share personal experiences and learnings, such as the pitfalls of trading consolidation with a directional approach and the need for constant adaptation to market changes.
🔍 Deep Dive into Trading Techniques and Mental Aspects
This section delves deeper into the technical aspects of super scalping, including the use of bracket orders with set targets for take profit and stop losses. The speaker discusses the importance of volatility in determining trade size, using ATR as a guide. They also touch on the mental challenges of trading, such as the need for emotional intelligence and impulse control. The speaker shares insights on how to develop intuition for trading through practice and reflection, and the importance of being contrarian in certain market conditions.
💡 Overcoming Obstacles and Personalizing the Trading Approach
The speaker reflects on the discretionary nature of super scalping and the challenges of overcomplicating the strategy with too many rules. They discuss the importance of personalizing the trading approach to one's unique strengths and weaknesses. The speaker also addresses the issue of commissions and their impact on profitability, particularly when trading micro contracts. They provide a hypothetical scenario of how the strategy could be profitable even with the consideration of commissions, emphasizing the need for adaptability and constant learning.
🌟 Embracing the Intensity and Finding the Right Trading Style
In the final paragraph, the speaker acknowledges the intensity of super scalping and how it may not be suitable for everyone. They draw parallels between the strategy's demands and the ability to multitask or focus intensely on activities like video gaming. The speaker encourages traders to find a style that resonates with their personality and cognitive abilities. They also share personal anecdotes about their capacity for handling high-intensity tasks and how they leverage this in their trading approach.
Mindmap
Keywords
💡Super Scalping
💡Bracket Orders
💡ATR (Average True Range)
💡Price Action
💡Consolidation
💡Volatility
💡Stop Loss
💡Take Profit
💡Mental Side of Trading
💡Contrarian Trading
Highlights
Introduction to the 'super scalping' trading strategy, a fast-paced, intense method focused on small market movements.
Emphasis on trading micro Nasdaq futures contracts and the importance of adapting to market conditions.
Explanation of the 'super scalping' approach, which involves riding small market waves rather than predicting large structural changes.
Use of Average True Range (ATR) to determine order size and the focus on short-term market movements.
Candid admission of the high failure rate in traditional trading jobs and the speaker's decision to forge a unique path.
Discussion on the importance of dynamic thinking and the need to constantly reassess market predictions in 'super scalping'.
Honesty about the strategy's volatility and the speaker's intention to be transparent about its challenges.
Comparison of 'super scalping' to other trading styles, such as supply and demand or swing trading, and the acknowledgment of personal trading preferences.
The concept of price action being either consolidating or making directional movements and how it influences trading decisions.
Advice on bracket order placement during periods of market consolidation and the importance of not being 'stupid' with trade setup.
Mistakes to avoid when trading in consolidation, such as improper stop loss and profit target placement.
The necessity of reading price action correctly to adjust trading approaches and bracket orders for success.
How to identify and trade during periods of high market volatility, with examples from the speaker's experience.
The psychological aspect of 'super scalping' and the importance of emotional intelligence in managing trading decisions.
The role of intuition in 'super scalping' and how it develops over time with experience and reflection.
The importance of being contrarian in trading and the challenges it presents to conventional market thinking.
Discussion on the practicality of 'super scalping' for various financial instruments like stocks, options, Forex, or crypto.
The impact of commissions on the profitability of 'super scalping', especially when trading micro contracts.
The speaker's personal trading setup and the rationale behind the choice of time frames and chart configurations.
Final thoughts on the adaptability required for 'super scalping' and the speaker's encouragement for traders to find their own style.
Transcripts
I've called this strategy super scalping
just because I've never seen anyone
trade like this but please let me know
if this is how you trade in the
background what you are watching is me
trading this intense and fast-paced
style on one micro Nasdaq futures
contract that channel is in the
description I'm going to cover literally
everything because this is for the
benefit of both you and I I have no
interest in following the same path that
everyone else does in a job with a 98
failure rate so I've decided to learn
through trial and error tons of notes
and lots of reflection essentially super
scalping is an almost computer-like way
of trading instead of going for big
structural changes in the market we are
riding the small waves that it takes to
get there I don't care where the market
is going to be in 10 minutes I look at
how big the candles are use ATR to
choose a good bracket order size and
then I jump into a trade thinking about
which direction is most likely to happen
next it requires extremely Dynamic
thinking and constantly switching what
you think will happen next but we'll get
into the mental side and everything else
later we are going for very small moves
and not asking price to do too much
first some brutal honesty because I'm
not here to sell you a course don't be
dumb hopefully this is the style that
I'll stick with for a while but you
never know just like some of you might
hate the idea of trading like this which
is fine personally I hate the idea of
trading supply and demand or swing
trading yet I don't disparage certain
styles of trading just because it
doesn't suit my own narrative and
personality this is very intense and
we're all built differently I'm not
worried about offending the people who
act like this because that would require
them to be self-aware your Edge might be
in a more methodical and systematic
approach where you're taking a couple
very calculated trades trains trades
only when the structure of the market
lines up with your system perfect that's
great super scalping is a bit more like
flying a kite in a tornado which also
works price action has been a bit of a
mystery to me so far on one hand I
thought I needed lots of direction from
very few candles to make it work but
recently that's changed super scalping
can be done when it's actually moving
somewhere as seen in the bottom picture
but it can also be done when nothing is
really happening as seen in the top
picture however if you don't properly
read price action to change the way you
approach trading it and the way you
position the bracket orders then you
will be destroyed so what does that
actually mean for the sake of this
trading style and video I've broken
price action down to two categories
because that's pretty much how it is
when you simplify it price is either
staying in the same area and
consolidating or it's making meaningful
directional movements everything it does
is some combination of the two we can
expect certain price behaviors and can
make mathematical assumptions based on
what's Happening picture a trend and
then picture consolidation obviously you
wouldn't trade these two the same with
super scalping this idea still applies
when price is staying in the same area
that means you need to make sure the
bracket order size is completely inside
where price is staying most of the time
in consolidation it's literally maximum
stupidity times 10 to go long with a
stop loss inside the zone and a profit
Target outside of it in this strategy I
know this from personal experience and
from reflecting on how dumb everything I
did was you can see the trade entries
and exits in these pictures but just
ignore them think about the fact that
you're asking price to make an exception
this one time if your trade idea
requires a candle to break the pattern
so when price isn't moving much neither
should the targets and stop losses
expect price to continue what it has
been doing until you're proven otherwise
trading and consolidation means you
basically need to be like a support and
resistance algorithm you don't need to
perfectly execute every bounce off of
everything but there's still a ton of
movement going on in consolidation as
long as your entries are good there are
always waves of back and forth going on
this Strat has nothing to do with where
you think price will be in five minutes
or even just one minute from now this is
trading the chaos with good risk
management but we'll get into that later
this section is just about trading and
consolidation essentially don't be
stupid think about where price is most
likely to go next based on what it has
been doing only very recently it's more
likely to go where it's already been
instead of to somewhere new so use that
additionally I've found that in it only
works when your entries are really good
they need to be good in order to clearly
skew the risk reward ratios in your
favor this means shorting at the top and
entering at the bottom rather than
waiting for a red candle to turn green
somewhere in the middle to go long
obviously this is hindsight looking at
these pictures but I drew two zones to
show you where price has been most of
the time perfect entries would not be
inside of the zones or at least on the
extreme edges if you go long at the top
or short at the bottom then you're
taking a super low probability trade and
asking too much of price in
consolidation your trades are based on
the assumption that price will return to
where it's been you have to be
contrarian instead of following it which
can be a little scary and almost feel
counter-intuitive sometimes for some
reason maybe not to some of you also I
don't actually draw rectangles while I'm
trading consolidation is too Dynamic to
put it in a box both literally and
metaphorically then we get to price
action where it's actually moving
somewhere up until episode 43 I thought
this was the only tradable price action
I even had a picture of consolidating
price action with a note that said this
will kill you when price is actually
moving somewhere the approach we took in
trading consolidation has to flip
suddenly it becomes more likely that
price will go to a new spot instead of
hanging around in levels it's been at
for a few minutes this means that profit
targets can be put in new spots without
it being an extremely low probability
and stupid decision this is the action
where maybe we can even catch a slightly
bigger move but don't be too greedy
essentially just understand that the
approach we take in super scalping is
unique to what price action is doing so
identifying which part of the spectrum
of consolidation to meaningful movements
it's on is the most important part in a
way when there's Direction it can almost
feel easier to read but it's probably
not more likely it could just be easier
to look at in hindsight and think about
all the ways we should have won every
trade all the types of price action are
tradable with the right amount of
volatility since I've demonstrated this
to myself I just didn't fully understand
how different my Approach needed to be
based on what price action was doing
instead of only trading when it's
behaving one way just trade it all the
time but adjust the approach based on
what's happening or don't you know
whatever at the end of the day if you
find yourself only doing well with one
type and obviously stick with that and
become an expert in that alright so base
your profit Target and stop loss
location and size on which part of the
spectrum price action is currently at
however all that stuff about price
action is only half the puzzle and I
cannot emphasize the importance of that
which we'll get into in a sec
consolidation ends but so does
directional price action I've caught
myself a few times trading as if price
was still actually going somewhere when
it had clearly gotten into a range for a
few candles if
if you are trading with the approach we
take for directional price action and it
starts consolidating suddenly you'll
just get stopped out for a loss every
time because price is no longer moving
to New areas I love this picture because
it perfectly demonstrates everything I'm
talking about I had three break even
trades I think in this consolidation why
did that happen because I was trading
consolidating price action yet entering
in the middle and putting Targets in new
areas it's really hard in real time to
actually figure out what kind of price
action is going on so it's not like
you're going to instantly know how to
approach it however over a series of
Trades you'll have a pretty good idea
about what's working and what's not so
after three bad trades I actually caught
a 16 point trade going short I put the
profit Target a few points below the
recent low since the NASDAQ loves
breaking recent highs and lows by a few
points before coming back up a little
bit whatever happens after that I don't
care but I know I'm taking a high
probability trade just going for a few
points above or below a pivot whether it
continues that way or completely
reverses I only care about debris moment
inside of that price action that will
most likely happen regardless of the
eventual outcomes I then shorted again
and got greedy having a trade nine
points in profit become a two-point loss
doing that a couple times completely
ruins the profit of catching a home run
which is why I'm currently just trying
to hit singles and small trades instead
of catching a big move anyways I just
wanted this picture to demonstrate how
the trading approach needs to be
extremely adaptive because the spectrum
of consolidating or actually moving
somewhere is constantly changing moves a
lot moves a little goes nowhere moves a
little moves a lot you get the picture I
use ATR to decide which bracket order to
use from this picture you can see all
the different names also I enter with
Market orders the style is too fast
paced for limit orders to be viable the
first number is how many points the stop
loss is and the second number is how
many points the take profit is and
obviously if you want you can use that
to see what the risk reward ratio is
when I buy or close two orders are
submitted at the same time to automate
the trade trade sometimes I'll move the
take profit a little further away and I
only ever move the stop loss closer to
the entry the volatility of price action
changes so the size of the take profit
and stop loss need to adjust with it
obviously I go to the bigger bracket
orders as volatility goes up the two and
three bracket might work great at 11 30
but doing that at 9.50 would be stupid
and terrible you would just be getting
stopped out instantly if 5 and 6 can be
great in the morning nice and reasonable
not asking price to do too much and
finding a good balance with what's most
likely to happen next however that would
be dumb to do at 10.50 on most days
that's because your take profit and stop
loss would be too far away which is fine
but that's not super scalping now that
I've been trying this just a couple
minutes after market open when
volatility is the highest the five and
seven bracket order can be a great
choice as well super scalping is all
about adjusting those order sizes so
that you're trading the waves that
happen inside the channels of price
action whether that channel is moving up
or down or sideways we're going back and
forth and back and forth many times per
minute or however often makes sense on
that specific day in that specific
moment in all the trades I do the profit
Target is always higher than the stop
loss I'm still experimenting with all
that and figuring out what's best but I
think for now it's just about making
sure the stop loss is the perfect amount
it needs to be big enough to not get
taken out instantly and it can't be
small enough where you're needing to be
right at that very moment about where
price will go next it needs just a tiny
tiny bit of wiggle room from there the
profit Target should go in a spot where
you're not asking price to do too much
singles instead of home runs I'm trying
to constantly think about which line on
the chart price is more likely to go to
before going to a different line aka the
stop loss and take profit which is what
the hot tub video I made in the top
right is all about that video kind of
sucks though don't watch it in a
scalping approach like this where a
bracket order with set targets for the
take profit and stop losses used for
each trade how many points away the
entry that those orders should be is
constantly changing this is because if
volatility is low we go for small moves
if it's high we go for bigger moves
what's happening with price action is
still the same except the equivalent
moves are happening more or less
intensely price action remains
relatively the same except how far up
and down it goes is different every day
that means we can use the ATR to read
the volatility of each candle in order
to decide what bracket order size to go
for think about sound when you sing a
note the distance between waves is
reflective of that but when you get
quieter or louder AKA more volatile the
height of those waves change remember
it's still the same except it's just a
more intense version of itself huh
like that one
besides obviously needing to slowly
develop the intuition on how to learn
like this just like in any trading
system which will take a long time the
mental side of this could potentially
destroy some people this is especially
true if you have poor impulse control or
slash and low emotional intelligence if
you want to understand research-backed
science about how the brain works so you
can have an accurate understanding about
how to learn how to trade then click the
video in the top right anyways I find it
funny to see how intense this is yet I
feel so much better psychologically and
physiologically than I did when trading
some more conventional Styles the most
important part of this trading style is
being dynamic in your thinking it
requires constantly switching your
beliefs about what will happen next and
this aspect of it is specially tested
when the trade doesn't go your way in
the same way that you can get into the
flow of everything for a few minutes you
can also get stuck in a loop of being
wrong on literally every trade which I
have done on my actual trading account
but that video is only on patreon if you
want to see me at my worst it's going to
cost you four bucks buddy
sometimes you just aren't in tune with
what's gonna happen next in these short
moves and all the fluctuations what the
fluctuate stop when you need to go nuts
on the chart and don't overthink it you
can't overthink it because that would
imply that you actually know what's
going to happen next like what that what
would you be analyzing we can only make
guesses with good risk management until
we actually develop some intuition which
takes hundreds to thousands of hours for
example if price is slowly going up and
you go long after a little pullback
would get stopped out you then have to
accept that you are wrong and
immediately move on then you decide
whether it's smarter to just follow the
pullback or to try going long again or
wait this is something that we learn
through intuition so obviously I don't
just have an answer for you that that
was a hypothetical question that's not
something you'll hear from all the
trading YouTubers though this is just
one of the things you should be focusing
the learning on also if you want to
learn what flow is which is real Topic
in Psychology click the video in the top
right
don't no don't watch it now watch it
after actually take notes and do
Reflections using data you can just
learn by half never mind the market
doesn't care how you feel Futures don't
care about your feelings I'm saying
another big aspect of super scalping is
being contrarian I'm pretty tired I read
that as being a library a librarian
sometimes you want to just follow the
candle but since we are trading the
noise between structural Market changes
rather than the structural changes
themselves back and forth is constantly
happening while these directional moves
are going on
he's him so sometimes you're shorting as
a candle pops up or going long right
after a candle drops down you can sort
of think of it as regression towards the
mean or just betting that the candle
will return to a recent spot before
continuing or actually reversing whether
or not a red candle comes back up and
then continues going that direction for
a long time is irrelevant the thing we
focus on is that there's a good chance
it will it will at least come up a
little bit before either going back down
or further up being realistic with
profit targets rather than trying to
catch a home run trade is essential that
part of the system probably gives me the
most trouble I get greedy sometimes
trying to grab a couple more points and
that usually just turns what would have
been a decent win into a loss of course
this is also dependent on the price
action if it's chopping back and forth
in consolidation then being contrarian
is the way to go if price action is
making meaningful directional moves on
each candle then being contrarian is
probably not the way to go or at least
less effective when it's actually going
somewhere if you try to Short each pop
up it usually doesn't work unless your
entries are Immaculate I'm trying to
break this habit myself in this type of
price action playing Follow the Leader
is the way to go in some ways I have a
harder time trading and price action
that just goes One Direction for the
most part I think part of me feels like
it's just too obvious and easy and so
instead of just buying each drop down
and expecting a small move back up
during an uptrend sometimes I'll try to
short on the pops up and just end up
getting stopped out for me it seems like
I'm working against my brain we see a
candle move down and that thing called
brain that name itself goes ooh short or
when a candle pops up we go ooh go long
but that just leads to failed trades
almost every time due to the nature of
what trades we're going for these
pop-ups and drop downs usually come back
the other way for the most part so all I
mean I guess depends on type price
action orange man with brain gears great
check mark on one hand everything I've
said here is like yeah good points
definitely yeah sure whatever on the
other hand this trading style is so
incredibly discretionary that if you
start introducing too many rules you
will just wipe away the entire Edge
after a little while of trading like
this I started getting worse and then I
realized it was because I was trying to
quantify literally everything I was
collecting data on every decision trying
to find correlations between the good
and bad trading sessions then I was like
you're over complicating this and
thinking like an indicator if indicators
don't work on their own then why are you
trying to mentally create one so I went
back to the roots of the Strat made
these notes to look at and I started
doing really well again creating a ton
of rules for a discretionary training
style makes as much sense as being
discretionary in a completely
rules-based system it makes no sense and
ruins the edge that the two approaches
have on their own and obviously there's
a hybrid systems whatever it's not the
point listen to that again if it didn't
make sense on screen are the things I
look at but these notes should be
constantly changing we look at reminders
until they become automatic and we make
new ones as we identify new thought
patterns or roadblocks that are
hindering our progress if the reminders
you set for yourself aren't constantly
changing then are you growing are you
learning anything one way to quantify
learning trading is to just look at how
much your notes have changed you're
obviously learning something of the
problems you're facing now are different
because you've defeated the problems you
used to experience it can be tough to go
for such small Targets on a trade
because we always have that little
gamble bone in our brain going but if
you just caught one big trade think
about how much money that would be or at
least that's what I have you know you
only have to get lucky once yeah but
that's also the thought process that
makes people buy lottery tickets there's
a very fine line in trading that
separates you from someone just gambling
you might have been reading these little
jokes and are thinking I man why are you
so mean to your viewers and to that I
would say shut the up
I'm just kidding a quick note about the
bracket orders stop losses profit
targets and whether or not to set up an
auto Break Even no well I I don't know
actually well I sort of do making my
stop loss automatically move to break
even plus a little bit has made me miss
out on more money than it has saved me
from losing money that means that most
often it would hit the auto break even
close the trade and then go to the
original take profit instead of where
the stop loss was when I first started
having it do this was actually
beneficial because I was trading in
price action where that move was either
going to happen now or not at all so it
would hit the break even stop loss and
then go down a few points to where the
stop loss was originally saving a few
points each time in those instances it
was advantageous but lately it has not
been so I submit the order and only ever
move the take profit a little further up
or move the stop loss closer to break
even I'm constantly thinking to myself
which line is it most likely to go to
before going to a different line which
you need to remember is all that trading
is when you have a stop loss and take
profit level this is something that's
constantly changing for me and sometimes
I make the dumb decision of moving the
stop loss to try and lock in profits
which almost never goes well this
trading style can probably be done with
stocks options or Forex or crypto but
whatever you're trading needs to be very
volatile how are you supposed to catch
tons of little movements if the thing
you are trading is barely moving you
know like this this wouldn't work on ES
at least not for me volatility means
trading opportunities SO trading the
NASDAQ is perfect for this on Futures
I'm trading slash mnq here which is the
micro version of Slash NQ the micros
move the same as the minis but are one
tenth the size which is great for
learning the only problem with super
scalping the NASDAQ on the micros is
that the commissions make it seem like
it wipes out the edge this is because
the commission to point ratio on mnq is
about one to two a dollar and twelve
cents total in commissions to two
dollars per Point whereas on the mini
it's one to five four dollars and eight
cents in commissions to twenty dollars
per point so the p l on the micros are
extremely skewed by the wow are
extremely skewed by the commissions
those commission numbers were the total
for opening and closing the trade not
per side and that's the rate for
ninjatrader if you own the lifetime
license like me which I bought for
eleven hundred dollars because that's
how much I like the platform also the
cost reduction in commissions will be
very important long term if I'm taking
like 10 to 30 trades per day ah the
important one how rich can we get
someday in the future I can see myself
with the modest position size of six
Super scalping the NASDAQ mini contracts
let's say I scalped the morning session
taking 15 trades let's say that the
volatility in ATR showed me that the
best bracket order setup would be a four
point stop loss and five-point take
profit I win nine of the trades and lose
six of them meaning I've won 45 points
and lost 24 points at twenty dollars a
point and six contracts that means I
would have made two thousand five
hundred twenty dollars with only winning
nine of the 15 trades commissions would
be a total of 300 sixty seven dollars oh
no that would mean I'd only make two
thousand dollars by ten am and free up
the rest of my day to do whatever I
wanted oh no Freedom the commissions are
there but they don't wipe out the edge
so there better not be any ooga booga
but commissions comments if you actually
have real experience trading large size
on NQ in the morning please let me know
what size starts to experience bad
slippage because I can't find a
consistent answer online by anyone who
actually knows what they're talking
about okay you've probably noticed that
there are no indicators think about why
that is good job why the heck would I
care about being under a moving average
when I'm trading the noise and the
trades only last seconds we aren't
trying to predict whether Market will be
a month from now a day from now or even
five minutes from now I care about right
now this very moment and nothing else I
pointed my fingers at the screen just to
really reinforce that as for time frames
I'm trading off of a 20 second chart
that one in the bottom left is five
minutes and I basically just look at
that to make sure I'm not like taking a
trade at some weird level or something
funky might happen this is my favorite
right now but I wouldn't go any higher
than 20 seconds it actually reminds me
to continue trying lower ones just to
see if anything feels better thanks
writing that down now to anyone saying
that's too small of a time frame please
think about why you actually believe
that and then figure out why that
doesn't make any sense so when to trade
well as you figured out by now slash me
saying it multiple wow never mind you
know that we need some volatility so
with that in mind when do we get the
most volatility that's right Mark it
open and just after that when I started
I was trying this around 10 just to let
things calm down a bit but recently I've
been trying a couple minutes after
market open and finding some success
right now a five point stop loss and
seven point take profit bracket order
works well but sometimes I have to make
that smaller to match volatility better
if it gets any higher than that I just
don't trade since the potential losses
of not doing well are a bit too much for
my current situation I'm not rich I make
videos that actually help people not
remember this strategy only works if you
actually adapt your trading size based
on volatility this concept of using ATR
to adjust the size of your targets is
probably one of the most undervalued
Concepts in trading and I don't know why
it's not talked about more but I get it
the video in the top right is much less
interesting than the secret mindset
uncovering the next breakthrough and how
the market secretly works I'm not mad
you're mad no you're projecting no you
are so the next part of this is like
when you actually stop trading well
regardless of the trading strategy you
should obviously stop if you get really
tilted to the point where making a
stupid decision becomes likely if you're
mad don't be an idiot and keep trading
take a break count to ten do whatever it
is that you need to calm down punch the
drywall grab the demon that lives in
your walls tell them to quiet down and
then put them back I don't know before I
was taking a break once price action
started consolidating I I would try to
only trade when price action was making
meaningful directional movements but as
I've said recently I found that I could
trade consolidation just as successfully
as long as volatility was high enough I
just needed to adjust the approach and
expectations so essentially I can just
trade until I get tired either that or
trade Until you realize you're probably
down a lot on the day and should just
stop which I know all too well you have
to find the balance between stopping
because your trading is just off and
just stopping because you're too focused
on the p l you know how it is saw what
this video is about sometimes I trade
this for three months what for three
minutes sometimes I trade for like eight
minutes sometimes I'll do a couple
minutes and then take a few minute break
before getting back into it sort of
changes by the day but hypothetically
you would just trade this until
volatility died down to the point where
it didn't make any more sense to
continue even if price action looks like
it did earlier except it's just barely
moving now sometimes volatility is just
too low I stay away from this but
perhaps you'll find lower volatility
super scalping easier you have to
actually do some experimenting because
the way I approach this style is
personalized to be somewhat reflective
of my unique self because I'm super
special make it work for you like I've
made it work for me can you trade like
this sorry it's italicized I've seen
lots of comments from people describing
in various ways how this style is just
too intense and can't be done I stopped
myself from telling them that they have
main character syndrome and that not
everyone's the same but at the same time
this probably can't be traded by
everyone when my mom is texting on her
phone and I ask her a question her
response will only happen once she's
done typing out the message even if it's
a yes or no question like literally a 10
second delay I'm just standing there
like this waiting and then she'll
respond as if it hadn't just taken 10
seconds to respond is like a reality
just paused the brain isn't capable of
multitasking in the sense of watching a
movie and studying for a task with
perfect retention for both you know you
can't just split it in half but there is
also a bit of a spectrum to doing things
at the same time if you're like my mom
maybe you can't trade like this maybe
you can I don't know I play play rocket
league in the top point five percent of
ranked players while listening to a
podcast at the same time and retaining
it not a hundred percent but a lot more
than the average person watching TV is
tough for me because it's not
stimulating enough most of the time it's
boring my leg or something is constantly
shaking because if tons of things aren't
happening at once I get really restless
there are very few activities in life
that actually stimulate my brain to a
level that I think most people
experience with normal activities I'm
currently writing this at about 80 words
per minute while also listening to a
bunch of people singing acapella Harmony
choir music I don't even know how to
describe it VOC es8 for anyone wondering
incredible group according to my Spotify
rap I listened to over 79 different
genres this year I didn't know there
were that many either anyways the reason
I'm saying all this is because While
most of you are thinking of this Strat
is too intense and fast-paced towards
needing a computer-like brain to switch
biases and make decisions so quickly
the small percentage of people who are
like me are just thinking Okay cool so
it's just like an intense match in a
video game where I finally get to
actually use all my focus all my brain
power we are all very different and I've
talked before about how I think we sort
of gravitate to a trading style that's
somewhat reflective of our personality
super scalpa wow super scalping is
definitely reflective of me for some of
you maybe supply and demand is more
reflective it's fine whatever yeah we'll
find our thing slow calculated and
methodical whereas super scalping is
like a few minutes of complete chaos
making split-second decisions
improvising adapting and Hyper focusing
once I realized I could use this part of
me as a superpower I started waiting
until the last possible moments to begin
assignments in college
many of my greatest works were all
completed on the night they were due or
the night before I had class the next
day to turn it in when I was forced to
actually Focus I could complete things
with the same quality in less than half
the time it was a great breakthrough
allowing me to basically just play video
games all the time while also remaining
a 3.9 GPA but who's who's counting who's
keeping track I am okay but enough about
you let's talk about me on my setup I
have the daily candles up but I don't
really care or use them I just like
seeing where the market's at Price
action can get funky when we get to
somewhat important levels or zones or
what happens actually means something so
I just avoid them entirely until a
typical Market noise returns yeah I
don't know why that's in this section
it's supposed to be the other one but I
don't care okay everything adjust the
bracket order size based on the current
volatility which is different every day
every moment every second every every
every every every adjust your trading
approach based on what price action is
doing duh is it consolidating is it
making meaningful directional movements
or is it doing some combination of the
two each type of price action requires a
different approach but because stop loss
and profit Target locations need to be
reflective of what's most likely to
happen next and what's most likely to
happen next is a byproduct of the type
of price action so it's so important to
identify it do not overthink it
constantly switch your beliefs about
what will happen next and Hyper focus on
what you really think is most likely to
happen next seriously like actually
think about that over and over this is a
big video and it took a lot of work
thank you so much to my patrons who
helped motivate me to make all of this
happen alright thank you and best of
luck to you and your trades unless
you're mean
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