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I've been pretty profitable swing trading, but I also wanted to incorporate some scalps throughout the day. I've been backtesting scalping recently and I've gotten decent results but not quite great yet.
The strategy has been to scalp in strong trends, for 5-10% of average day’s range, and put risk at 2x reward. Scale in if possible, around 1x risk, exit quickly if it’s not moving in the desired direction or stalling within 1-3 bars.
- Is placing stop at 2x bigger than reward when scalping reasonable or is that too tight of a stop? If so, where would a more appropriate stop be placed? (in trends not in TRs)
- Mr. Brooks speaks of scaling in 2-3x of a minimum scalp size away, does that apply strictly to swing trades or does that also true when scalping? if so, how far away would you typically look to scale in? (in trends not in TRs)
- How could I improve this somewhat of a strategy? Or What are some other tips and tricks you guys may have learned about scalping?
Thank you for any help.
Hey Jerney,
1.
s placing stop at 2x bigger than reward when scalping reasonable or is that too tight of a stop?
I think 2x is pretty tight, Al does use a 3x minimum scalp size stop to make 1x minimum scalp(30pips stop to make 10pips). May be its only for TR and not for trend. plus If its a strong trend(no bars in the opposite direction) there is no need to scalp just swing trade it
If so, where would a more appropriate stop be placed? (in trends not in TRs)
have a swing stop(bottom of bull leg or bull BO).
2.
does that apply strictly to swing trades or does that also true when scalping?
https://www.youtube.com/watch?v=yPHd9TDjx5c&t=4096s
in the above video, their is a part where Al says that he turns a bad swing trade to a scalp trade. but, never turns a scalp trade to a swing trade.
From this I would thing that he does not see swing trade different from a scalp trade and scale's in the same way for both.
if so, how far away would you typically look to scale in? (in trends not in TRs)
There are multiple ways to scale into a trade. like entering on pullbacks, 50% retracement, 1st enter, 2nd entry, minimum scalp sizes away(like 1x,2x,3x) etc..
3. watch the videos on scalping by Al brooks. there are a lot in the course and I think one video about scaling into losses in you tube.
https://www.youtube.com/watch?v=N5c6TsF2W-s ( above mentioned you tube video).
Hope it helps
Thank you for your thorough reply, highly apricated.
