{"id":64399,"date":"2017-02-19T01:35:20","date_gmt":"2017-02-19T09:35:20","guid":{"rendered":"https:\/\/brookstradingcourse.com\/?p=64399"},"modified":"2018-03-25T07:20:36","modified_gmt":"2018-03-25T14:20:36","slug":"scaling-in-narrow-range-day","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/ask-al\/scaling-in-narrow-range-day\/","title":{"rendered":"Ask Al: Scaling in &mdash; small range day"},"content":{"rendered":"<h2>Small range needs care scaling in<br \/>\n BPA trading room Q&amp;A: December 29, 2015<\/h2>\n<p class=\"content-box-green\">Question: I sold just above the 29 high. I added two points higher and exited as 46 was forming. Can you comment on my trade? Many thanks.<br \/>\n <em>Video duration: 3min 35sec<\/em><\/p>\n<div style='position:relative;height:0;padding-bottom:56.25%'><iframe class='sproutvideo-player' src='\/\/videos.sproutvideo.com\/embed\/7c9adfbb1318e4c6f4\/0ae64924a874a55e?playerTheme=dark&amp;playerColor=' style='position:absolute;width:100%;height:100%;left:0;top:0' frameborder='0' allowfullscreen><\/iframe><\/div>\n<p><\/p>\n<p class=\"caption\">You can also view this video on <a href=\"https:\/\/youtu.be\/VA_fWkdU8mY\" target=\"_blank\" rel=\"noopener\">Al&#8217;s YouTube Channel<\/a> if needed.<\/p>\n<h3>Scaling in \u2013 be alert to potential reversal<\/h3>\n<p><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2017\/02\/Ask-Al-Brooks-Sold-Above-29-High-and-Lost.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-64404\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2017\/02\/Ask-Al-Brooks-Sold-Above-29-High-and-Lost-300x228.jpg\" alt=\"Ask Al Brooks Sold Above 29 High and Lost\" width=\"300\" height=\"228\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2017\/02\/Ask-Al-Brooks-Sold-Above-29-High-and-Lost-300x228.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2017\/02\/Ask-Al-Brooks-Sold-Above-29-High-and-Lost-768x585.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2017\/02\/Ask-Al-Brooks-Sold-Above-29-High-and-Lost-600x457.jpg 600w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2017\/02\/Ask-Al-Brooks-Sold-Above-29-High-and-Lost.jpg 780w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>I also sold above the 29 high. I forgot how I did it. I think I sold the 29 high. Maybe I sold a tick or two above, and then I sold more one point higher, and then I got out at my first entry and I made one point. I was lucky. When we had the three bull bars, 31, I thought the bears were going to get was sideways for a few more bars.<\/p>\n<p>But because of the gap bar, 29, I would not have held that long. If I sold the 29 high and then I see the three bull bars 31, just like if you\u2019re at a top and you see three bear bars, you start thinking \u201cUh oh, the market\u2019s reversing.\u201d If you\u2019re at a bottom, like 28, and you see three bull bars, you\u2019ve got to be thinking \u201cOh, the market might be reversing.\u201d You\u2019ve got to be careful if you see the three bull bars and stop hoping about the reversal back down.<\/p>\n<h3>Small range \u2013 one point scalp only<\/h3>\n<p>For me, let\u2019s say I managed the trade differently. Let\u2019s say I sold the 29 high and looked to sell more two points higher. First of all, I would not do that because the range is so small. I\u2019m going for one point scalps, so <a href=\"https:\/\/www.brookstradingcourse.com\/how-to-trade-manual\/scaling-trades\/\" target=\"_blank\">scale in trades<\/a> are also one point. If I\u2019m disappointed from the 29, 30, 31, sometimes I just decide \u201cOkay, that\u2019s not what I was expecting. I\u2019m just going to try to get out breakeven on the entire trades and not worry about making a profit on the first entry.\u201d<\/p>\n<p>So for me, if I sell the 29 high and sell one point higher, I\u2019m going to try to get out at the 29 high. If you see 32 behave like that and let\u2019s say you do not get filled, and then it tries again to fill you 33 and you\u2019re saying \u201cGosh, I just need it to go one tick lower,\u201d and this time it\u2019s even one tick higher on 33 \u2013 so at some point, you\u2019ve got to say \u201cI\u2019m trapped. I tried to get out at the 29 high. 32 hit my limit order, did not fill me.\u201d<\/p>\n<h3>Getting trapped<\/h3>\n<p>Maybe I raise my limit order one tick, and then 33 hit my limit order, did not fill me. At that point, I\u2019m getting out above the 33. It made a couple attempts to bail me out, and it did not. It\u2019s probably going to go higher and I would look to sell again higher.<\/p>\n<p>Had I sold the 29 high and added on? Ok? So you sell the 29 high, you add on two points higher. One, two. So he sold here, sold more here. It did not even come to the midpoint of the two entries. It tried to get there, 37, tried again 40, 41, did not get there. So the traders trying to get out breakeven on the entire trade again are trapped. It keeps trapping the bulls. These small pullbacks are trapping the bulls. If you did not get out above 33, you\u2019ve got to get out above 41 or 42.<\/p>\n<h3>On wrong side \u2013 get out<\/h3>\n<p>The message I\u2019m trying to give is: If you are in a trade and you think that it might be getting bad and you\u2019re trying to get out with no loss, or minimal loss, and it just comes very close to letting you out but misses your order by a tick or two. And then keeps going against you, and it does that a second time, a third time, you\u2019ve got to think \u201cThis is going up. I\u2019m on the wrong side. I\u2019ve got to get out.\u201d<\/p>\n<p>I hope that makes sense. If you see a trade that\u2019s bad and you\u2019re trying to get out breakeven and the market comes close to letting you out but does not let you out, you are trapped. And if you\u2019re trapped, you\u2019ve got to get out and you\u2019ve got to take the loss.<\/p>\n<p><em>Al Brooks<\/em><\/p>\n<p><a title=\"Al Brooks&#039; trading room\" href=\"https:\/\/www.brookstradingcourse.com\/online-day-trading-room\/\">Information on Al&#8217;s Online day trading room<\/a><\/p>\n<hr \/>\n","protected":false},"excerpt":{"rendered":"<p>Small range needs care scaling in BPA trading room Q&amp;A: December 29, 2015 Question: I sold just above the 29 high. I added two points higher and exited as 46 was forming. Can you comment on my trade? Many thanks. Video duration: 3min 35sec You can also view this video on Al&#8217;s YouTube Channel if [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"shadow","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[159],"tags":[],"class_list":{"0":"post-64399","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-ask-al","7":"entry","8":"has-post-thumbnail","9":"override"},"featured_image_src":null,"author_info":{"display_name":"BTC Admin","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/richardhk\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/64399","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=64399"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/64399\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=64399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=64399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=64399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}