10 Scalping Rules I’ve Learned From 13 Years Of Trading

yes yes yes what's going on guys this has been aka day training addict and have another good video for you guys today we're going to talk about 10 scalping rules i've learned from 13 years of trading all right so let's go alright so let's waste no time let's go to rule number one now number one don't give up yes don't give up all right success is all about not giving up you have to outlast the competition right you have to outlast everybody guys because if you just show up guys and do the work eventually you will see success it's just how it works it took me eight years guys eight years for me to start to see success when it comes to trading the markets all right eight years now i'm not going to say it's going to take you eight years me personally i was stubborn i was trying to do things on my own i wasn't basically trying to you know look for help but if you have a good strategy and you practice every single day guys all you have to do is not give up all right so make sure you guys do not give up rule number two guys start small this is a big one because everybody wants to make two hundred dollars in one day five hundred dollars in one day a thousand dollars in one day guys listen start small think about it for a second if you can't make ten dollars in one day or even twenty dollars in one day why do you think you can actually make a thousand dollars in one day so start small prove to yourself that you can actually make ten dollars a day twenty dollars a day right and keep doing that keep doing that to prove to yourself oh you know what i have something going on now it's time to you know up my size and let me try to go for 100 a day or 200 a day that's how you do it guys you start small i don't care how much money you have guys your account could be 100k it doesn't matter it doesn't matter guys start small right because if you are new to trading you're going to make mistakes it's just how it works right so start small rule number three trade a good strategy guys this is very important okay you want to trade a good strategy from the beginning because if you don't okay you're going to number one create bad habits and trust me you know trying to erase those bad habits it is so hard guys it's so hard so you know just have a good strategy from the beginning so how do you you know come up with a good strategy or find a good strategy well you have to either test it out back test you know and make sure that strategy work or you find someone that's doing this that's the best way to go anyway okay that's why it took me so long because i was trying to do everything on my own but you know find someone that's actually trading full-time and use their strategy and just continue to work it and perfect it and and make sure that you you know understand that strategy and don't give up you know if you don't see the results the first week or the second week keep at it okay because you're gonna make mistakes it's just how it works keep at it and then eventually you're gonna start seeing results so that's what you do guys you have a good strategy first because in the beginning it's very important because most people think that they they are losing because you know it's a mental thing or psychology and honestly guys you can have the best mental game you know in the world it doesn't matter if your strategy is not working you're gonna keep on losing it so make sure guys you have a good strategy right rule number four track your results so what do i mean guys how do you know okay good example let's say that every time the market bounce off you know uh a moving average okay you're looking to get in if you see a pin bar now that's one way you know you're going to get in now let's say the next way okay let's say you have two setups so let's say your next setup is a double top or double bottom now if you're trading those two setups how are you going to know what setup is actually producing you know good results you're not you can't find out okay so if you're trading different setups and if you track your results you can see all right wow for some reason every time i use the pin bar when it hits that moving average i'm winning eighty percent of the time but if you track your double top or double bottom and for some reason every time it goes to that moving average you're losing eighty percent of the time or ninety percent of the time guess what guys that is good information why because now you can say you know what if i'm losing 90 of the time i'm going to eliminate okay that double top setup or i might tweak it a little bit or whatever the case is or i might just only focus on you know the pin bar so that's what i'm talking about when you track your results you can actually become a better trader because you know now what works and what doesn't work all right so guys please make sure you track your results number five don't break your rules guys please you have to be disciplined you have to guys discipline can make you rich that is true think about it for a second right anything you want in life if you're a discipline you can get it if you really want that hot body you know abs and basically a whole bunch of muscles guess what you can go to the gym five days a week eat the right things you know what to do but you're not doing it you're not disciplined that's why same thing when it goes to trading guys you know not to move your stop loss you know not to take trades or force trades you know that guys but guess what you still do it so discipline guys is one of the things that you have to master guys please i once heard this from a trader okay he said i don't want to be the best trader in a room i want to be the most disciplined trader in the room and i love that because the best trader in the world if he has one bad trade guess what he can actually wipe out he or she can actually wipe out the whole trading account right but if you are a disciplined trader and you take small losses here small losses there you're not going to wipe out your trading account so guys make sure you have patience and don't break your rules number six okay have break-even stops this is very important so let's go to a good example okay so let's say that you're looking at this market right here right and it's bouncing off this ema right here this moving average and basically you went long right here so let's say you went long right here right and when it went up basically you're making money right so you're looking for let's say that you're looking for a nice uh three to one or whatever the case is now you're looking for profits you're looking for profits and then next thing you know it came back okay to your entry so let's say that you're in you enter right here okay right here and it came back to your entry if you are a beginner the best thing to do okay is to move your stop to break even so if it does come back to your entry you're not going to lose any money right you're not going to lose any money but a lot of traders what they do is they say you know what i'm looking for this profit i don't care i'm going to basically continue to wait for the market to go up and the next thing you know it comes back and they and then stops them out okay and they lose money and they say things like why me i don't get it you know guys put your stop to break even especially if you are a beginner if you understand the market maybe some trades you can get away with that like some trades i won't put it to break even it all depends but a lot i would say 95 percent of the times i'm always putting my stop to break even right so make sure you practice that because you don't want to lose money on you know dumb things like this right so let's go to rule number seven number seven guys don't over trade this is a big one okay so when it comes to trading the market and scalp in the market most people think that you know you have to take 100 trays or 30 trays or 20 trays per day you know go in and out oh i like this tray right here i'm gonna take this tray oh i like this trade or like this trade i like this trade like this trade no guys what's gonna happen is you might get away with it on this day but next day guess what the market is gonna take all your money so the best thing to do is look at the market like you are hunting for food and you're hungry let's say you're really hungry right now and you know i have to eat so in order for me to eat i have to take the right trade because that's the only way i'm going to eat right so you wait for the best setup guys don't take any setup just because you see the market going up or going down no it doesn't work like that me personally i trade sometimes one time a day or two times a day or even three times a day you don't have to be in and out oh yeah like this all like this or like this no guys you don't have to do that you do not have to do that guys it's okay to trade just once a day twice a day three times a day okay so make sure you don't over trade and look for high quality trades so you don't have to just go in and out and lose all your money okay because that's what's gonna happen right number eight guys make sure your winners are bigger than your losers so yes when you're scalping sometimes you go for a quick one to one sometimes you go for a quick you know uh you know two to one but there are trades where you can go for you know bigger targets so let's say that you know we see a setup right here and you like in this market and you say okay this market looks like it's gonna break out some trades guys we can hold longer okay so you can go for that three to one or that four to one on that five to one okay and that's why i love trading because we don't have to be perfect we can lose two times in a row and the next trade could be a winner and we can still be up for the day or we can lose three times in a row and the next trade could be a winner and guess what we can still be up for the day how is that possible well let me show you let's say those three trades we was risking ten dollars per trade so ten dollars per trade guys we're talking about basically what uh thirty dollars so so that's thirty dollars right there guys right 30 dollars now let's say that the next trade we took okay was a five to one okay so a five to one that's five times ten it's fifty dollars okay so that's fifty dollars so what is fifty dollars minus okay thirty dollars you should know that it's twenty dollars guys so one trade can wipe out all those losers and plus you can have money in your pocket just because you know how to let your winners ride so that's why i love trading because you don't have to be right all the time and you could let your winners ride even if you're scalping you can still let some of your trades ride right so make sure you understand that number nine guys rule number nine understand market structure guys please this is a big one you have to know when the market is trending you have to know when the market is ranging when it's breaking out when it's reversing because if you don't know the market will take your money it's just what it is and you can't be one of those traders look at the market after the fact and say oh my gosh the market is reversing i didn't know now i see it but i couldn't tell you know in real time no guys you have to practice that's that's your job if you are a trader that is your job you have to know these things guys you have to know when the market wants to reverse you have to know when the market is trending you have to know when the market is ranging that is your job right so please guys study market structure right number 10 guys rule number 10 practice every day guys this is very important if you look at any professional sport player okay they are practicing more than they are playing a real game why is that because they know that if they don't practice they can lose that muscle memory and also they won't be sharp okay so you as a trader you have to think the same way practice on your days off practice on weekends when i say every day of course you can probably have one day off or two days off but me personally guys i'm a beast so back in the days when i was you know first starting out i practice every single day okay it is what it is okay i wanted to be a boss and i wanted to trade for myself and i wanted to become a full-time trader so you know for me i'm trading or i'm practicing seven days a week it's just what it is you can't just be one of those traders that only trade when the market is live guys you're not going to get anywhere if you do something like that the way i practice is i basically go on the chart you can practice either a replay mode or just looking at the still chart like this okay that's what i did i was looking at a steel chart and i was looking at levels i was looking at to see if certain setups was working at that level and that's how i was doing guys i was practicing every single day listen when i used to work a nine to five right i used to take my laptop to work okay i used to take the bus and the train i used to take my laptop to work go in the back of the bus and pull out my laptop and guess what i was studying the charts guys i ain't playing no games in lunchtime guys guess what in the cafeteria with my laptop studying the charts it's just what it is that's that's how i am you know i'm a beast so i'm not telling you guys how to live your life or be obsessed like me but you have to put in the work right so guys those are the 10 rules right there make sure that you study those rules and take action thanks a lot for watching this video and if you got some value out of this video please make sure you hit that like button hit that subscribe button and also join my free telegram group because i post charts um in that group and sometimes i give you guys exclusive discounts and lately i haven't been giving my youtube audience any uh discount so go to the description guys and i have a discount for you guys if you want to get my trading program because my training program will show you how to become a full-time trader and show you how to grow your small account right i have traders all over the world a lot of them are making money a lot of them are learning new things and they stepping up their game so if you want to be one of those traders come join the team alright so that's it guys make sure you comment below because i try to answer all your guys questions thanks a lot for watching this video and please have a great day

Channel: Day Trading Addict

Views: 1,990,420

Keywords: Scalping trading, scalping strategies, how to scalp

Id: jQyKOXxCt7Y

Length: 14min 42sec (882 seconds)

Published: Fri Jun 18 2021