Here’s a video that starts off with our Trade Scalper software running on n a 1-Minute E-mini S&P 500 chart (ES 09-20). The idea is to place an order soon after a Trade Scalper Long or Short signal. In this case, we start with a Long (buy) signal when the candle closed at 3028.
Remember, moving your entries, profit targets stops, etc. creates a problem because you will put yourself “at the back of the line” and you may not get what you want in time. You don’t want a worse fill. The longer you are exposed to the market, the riskier the trade is. If you wait for three, four, etc. minutes and price moves away, it’s possible the move is over with and you missed out. Time is not on your side. Don’t chase the trade or “revenge trade.”
Why are we showing a 2-Range chart on the left? At 2:56, you’ll see a Short signal. It’s a great opportunity to demonstrate the same idea. When scalping, it’s best to get filled in under five minutes. Avoid chasing fills. You may want to use an MIT (market if touched) order. Price needs to touch – no need to go through – a designated entry price. It converts itself into a market order. There may be slippage in your favor or you could get the exact price. You could get filled within a tick. Slower markets require tighter stops and profits. Faster markets have the potential to reach profits.
See how price reaches -1.5+ at one moment? John Paul doesn’t touch the trade for the aforementioned reasons. Too little time has gone by. Sure enough, by 7:22 in the video, the trade turned around to be a +2 point scalping winner. You could trail a stop or get out and wait for the next Trade Scalper signal.
Do you want Trade Scalper signals on your charts? Get started by purchasing the Trade Scalper today.