Here are some trades this morning. Scalping 1 to 4 points. 7 trades. all winners.
See if I get greedy and grab them profits I can scalp all day long like this until my brain gets tired. The concepts are: know the market cycle price is in. Use the proper tactics, be greedy, grab those profits, maintain a high win rate so I don't have to get back losses.
Tactics change as price unfolds. Trade 1-3 were BO's trades on 5m chart. Trade 4 was a price probing trade betting high would be tested and a DT would possibly result from the test. Trade 5 and 6 were TR fading the edges trading (on the 2 min chart). On the 5m chart T#5 was price probing the low of bar 9:05 On the 2 min chart T#5 was a TR fade the outer edge. T#6 (on the 5 min chart) was an averaged down price probing trade betting the low of bar 9:15 would be tested. On the 2 min chart it was going long and adding, fading the bottom of the range on that 2min chart. Trade #7 on the 5 min chart was an implied PB trade, and it was betting we would get another push up. See bar 10:20 was a bull doji with it's close above the high of bar 10:15 and if you looked at that bar (10:20) on a smaller TF (2 min) the PB was more obvious and on a 1 min it was even an actual PB (see snippet below)
Depending on which TF one is trading the tactics used are labeled differently. However, what is important is that one reads the pressures correctly and uses tactics appropriate to the TF they are trading. These seven trades were all placed on a 5 minute chart. I am showing the 2m chart version of the same trades so you can see the different tactic labeling in play.
Listen, there are a set number of tactics for each market phase of the cycle. The same tactics are used in all TF's. So once a trader learns and practices the tactics they will soon become a part of his trading without that much effort in applying them. I have to use the tactics appropriate for the PA in the TF I am trading. In this case it was the 5 min TF I was trading. It is usually best not to look at two different TF's while trading other than an occasional glance because it can affect one psychologically in the decisions that he has to make in regards to entries and exits. It is usually best to keep decisions binary.
But I am showing both charts of the same trades so you can see how different labeling of the tactics or techniques play out and are employed, depending on which TF one is using to place the trades. I do this at the risk of confusing folks or making it look too complicated, but the good news is there are a set number of tactics to learn and a set market cycle with set number of market cycle phases. So what appears complicated is really not that complicated. These apply to all TF's. Learn the core and it can be applied to all TF's.
The top chart is 5m. The next chart is 2m. The last is a snippet of T#7 entry detailing the implied PB of the 5m on a 1m thus showing an actual PB.
Remember bulls and bears are active on every bar of every TF. If you can't accept that or deem it as ludicrous then perhaps saying it this way might be more palatable: Bears and bullish pressures are present on every bar. Think about that!
Now who says scalping cannot be profitable. It is safer than long term trading. Remember, ones $$$ are ONLY at risk when one is IN the market.
And don't forget to be greedy and GRAB them profits. One can always go back or a second helping. A spoonful or 2 of turkey dressing is better than no dressing and left with just the gravy... grab them both while you can then go for a third and 4th and 5th spoonful. Then comes the cranberry sauce.......hmm. I got me two frozen butterball turkeys just waiting to be eaten.
I missed a pile of more trades from 10:45 to 12:20 typing and annotating and posting these charts but I think you can see trades abound for scalping. Happy trading.
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