Memorial Day Sale 25% off – code: MEM25  at checkout.

Memorial day Special
Days
Hours
Minutes
Seconds

Fridays can be a bit tricky. Market conditions tend to slow down, whether you’re trading crypto, Nasdaq, E-mini futures, or any other asset. However, it’s crucial to stay vigilant, especially as we head into the afternoon.

[embedyt] https://www.youtube.com/watch?v=sbMxlDANVXE[/embedyt]

In this blog post, we’ll delve into a long signal using the Trade Scalper double wick long strategy. I’ll provide insights into how we manage such trades and offer you a glimpse into our approach to trading using the Trade Scalper software.

The Trade Scalper software has given us two signals. What’s great is that everyone sees the same signals, creating a level playing field. Today’s signal is at 46.76 quarter on the E-mini S&P.

I entered a market order to go long at 46.76 quarter, but it’s essential to note that market orders can sometimes result in a slight price slippage. So, the fill I received was at 46.75.

Managing the Trade:

Effective trade management is critical. Before entering a trade, it’s crucial to decide on your target and stop levels, ensuring you have control over your risk.

In the current market conditions, we need to assess the Average True Range (ATR) for guidance. The last four or five candles indicate an ATR of one and a half points, which is equivalent to six ticks. This ATR value serves as our target. Remember, it’s essential to align your profit target with the current market conditions. In slower markets, we aim for smaller targets.

As for stops, it’s equally important not to set them too far from your entry. In this case, we’re looking for a stop that’s slightly more than the current conditions but not excessively large compared to our profit target. Avoid risking five or six points on a trade with a smaller profit potential.

The Exit Strategy:

Once your target is hit, it’s time to exit the trade. In this example, our target of 46.78 quarter was exactly six ticks (one and a half points) from our entry. You can use a market order, a stop order, or simply exit the trade using your trading platform.

Conclusion:

Trading, especially scalp trading, requires a clear strategy and disciplined risk management. Always adapt your approach to the current market conditions, and remember that smaller targets are appropriate when the market is slow.

If you have any questions or need further clarification, please feel free to reach out. Trading can be challenging, but with the right tools and knowledge, you can navigate the markets successfully.

If you’re new to day trading and want to explore the benefits of trading, visit DayTradeToWin.com. You can also subscribe to the Day Trade to Win YouTube channel for valuable insights into price action and trading strategies.

Until next time, happy trading!

Leave a Reply

Your email address will not be published. Required fields are marked *

Check your email within 5 minutes for access.
Mark our emails as  SAFE  if they land in your Spam or Junk folders.

10% off  using Promo code:  MEMBER10  

GET FREE PRACTICE ACCOUNT

LIVE DEMO

NEW: Free Member Access – Get the ABC Signal Software

Sign up for a Free Member Account and get exclusive discounts, trading courses, software downloads, videos, and more.