Get the Trade Scalper signals on your chart today!
At the start of the video, take a look at the two nice Trade Scalper signals using a 2-Range chart with NinjaTrader. On a 2-Range chart, each bar (aka candle) represents 2 ticks of ranging price activity over time (however long it takes to plot each bar based on volatility). At around 2:42, the later trade results in a four tick (1 point) win.
When scalping, timing is important, but always have a profit target and stop in mind. We use NinjaTrader’s ATM Strategy feature to predefine these values. This way, when we place an order on the DOM, we have a premade ATM Strategy selected so we don’t have to fiddle with values when fast entry is important. For this Trade Scalper method, we’ll tell you what values to use for ATM Strategies, etc.
Once you’re in a trade, try to refrain from moving your profit target and stop loss values. Doing so will put you “at the back of the line,” essentially. Orders are to be processed first-come, first-served. Also, avoid using stops > 2x your profit target. It’s probably too much risk and a sudden unfavorable move can greatly impact your trading account. Too small of a stop loss is also a problem because “normal” market movement can stop you out prematurely.
Scalping is a great way to minimize your time in a position. Trading always involves risk, so the less time you spend with an open trade, the less risk. We often recommend our Trade Scalper method for this reason. The strategy is “in and out” whenever price action says, “there’s a trade here.”
