To learn all the tricks in John Paul’s arsenal, join the next Group Mentorship class that begins Feb. 11. With your early enrollment, we will send over the trading material right away. Seats are filling up, so act now before there’s no more space.
Here’s part two of the recent live webinar. The first real-time Trade Scalper trade was a three-tick winner. Watch the rest of this video to see another Trade Scalper three-tick winner.
In the first five to 10 minutes of market open, be very careful because many traders are battling for positions.
There are two scalping strategies taught by John Paul: one is the Trade Scalper, offered on the courses page and the Price Action Scalping method, taught only in Mentorship. Most of the time, he prefers using a 5-min charts and placing two or three trades a day at most. It’s easy to risk more than necessary when scalping. When trading into the afternoon, it’s easy to give the market back all your wining trades.
If there are news events, it’s best to stay out until the volatility subsides.
Even if you have the money to trade many contracts, you can still be psychologically impacted by winning and losing traders. That’s why John Paul recommends practicing first, starting with one contract, and moving up as you see success.
Is there an upper limit to the number of contracts one can trade? John Paul says yes. If you trade with 50 contracts and use limit orders, only a portion may get filled. That’s called a partial fill. Using limit orders will prevent you from getting filled completely. Trading many contracts using market orders instead increases the likelihood of getting filled completely. Also, don’t trust the buying and selling numbers seen in the DOM. Hundreds of buying or selling positions can instantly disappear on the DOM. Don’t get lured in!