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My Nr. 1 tipp for scalps:
Find a "time in-trade" value you are most comfortable with and structure all your trade around it.
If your strategy doesnt fit that, you will start to second guess your trades and do emotional decisions. (like flip positions or front run your stops)
Find a "time in-trade" value you are most comfortable with and structure all your trade around it.
If your strategy doesnt fit that, you will start to second guess your trades and do emotional decisions. (like flip positions or front run your stops)
Ex.: 15min - limit.
Strat.: crossover on 15 min chart
Enter on crossover, 15 min later (1 candle) price still close to your entry.
=> You start to second guess your trade, now someone market buys/sells 3 mil against your trade and you panic close at breakeven or slightly below.
Strat.: crossover on 15 min chart
Enter on crossover, 15 min later (1 candle) price still close to your entry.
=> You start to second guess your trade, now someone market buys/sells 3 mil against your trade and you panic close at breakeven or slightly below.
Solution: Strategy on 1, 3 min timeframe (and maybe 5 min)
3 min TF gives reasonable amount of candles (5) for the market to prove your strategy right or wrong. Crossover strategy will probably flip back under or give you reasonable buffer between your entry and current price.
3 min TF gives reasonable amount of candles (5) for the market to prove your strategy right or wrong. Crossover strategy will probably flip back under or give you reasonable buffer between your entry and current price.
