Taking advantage of the fractal nature of the markets by scalping my Momentum Theory mechanical setups on the 1 second chart and holding them to Daily levels. This is a New York session trade taken LIVE and shows my thought process every step of the way.
I didn't take any losses on this one, but I usually would expect 2-3 losses before hitting the right entry. Because of this, whenever I'm scalping the seconds charts I risk very small (0.03% per position) and size in to the trade at specific intervals as it continues in my direction.
In my opinion, it's really important to hold these types of trades for longer durations than traditional scalping. Traditional scalping advice is to aim for 1 - 2R, hold for a short duration, and aim for a high winrate. I pretty much recommend the exact opposite advice. Banking in 75R on this trade basically means I can lose the next 75 trades I take and still be at BE. If you follow my mechanical style of trading, you know there's a higher chance of me hitting another 75R trade than losing 75 in a row. When I string a few of these in a row, trading becomes completely emotion-free and a purely process-driven endeavor.
On to the next!
I didn't take any losses on this one, but I usually would expect 2-3 losses before hitting the right entry. Because of this, whenever I'm scalping the seconds charts I risk very small (0.03% per position) and size in to the trade at specific intervals as it continues in my direction.
In my opinion, it's really important to hold these types of trades for longer durations than traditional scalping. Traditional scalping advice is to aim for 1 - 2R, hold for a short duration, and aim for a high winrate. I pretty much recommend the exact opposite advice. Banking in 75R on this trade basically means I can lose the next 75 trades I take and still be at BE. If you follow my mechanical style of trading, you know there's a higher chance of me hitting another 75R trade than losing 75 in a row. When I string a few of these in a row, trading becomes completely emotion-free and a purely process-driven endeavor.
On to the next!
🤑 Watch me trade Momentum Theory at youtube.com/@nohypetrader
⚡ Momentum Theory subscription available at whop.com/nohypetrader/
🏆 More Info - patreon.com/posts/momentum-theory-121307513
⚡ Momentum Theory subscription available at whop.com/nohypetrader/
🏆 More Info - patreon.com/posts/momentum-theory-121307513
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🤑 Watch me trade Momentum Theory at youtube.com/@nohypetrader
⚡ Momentum Theory subscription available at whop.com/nohypetrader/
🏆 More Info - patreon.com/posts/momentum-theory-121307513
⚡ Momentum Theory subscription available at whop.com/nohypetrader/
🏆 More Info - patreon.com/posts/momentum-theory-121307513
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.