Above's my scalp. Went in at higher MSL, trigger candle is an inside bar, entered 0.25 point above trigger, stop loss at 0.25 below.This is one of the patterns that I'll BUY. I don't care if price will break out of range, coz I always get out before price hits resistance. It's a scalp after all.
3 comments:
so your maximum loss is 0.50 point, correct?
Looks like the stop-loss is set at 2 pts away from entry, so max-loss on this trade would be 2.00 pts. You could probably set tighter stops on a momentum play such as this one.
Yes, Emini Player, it's 2 points away. All based on candle and chart setup.
If I were tapereading, I would scratch at less than a point. The basis of my entry would have been different and hence the exit would be different too.
My reward to risk ratio has always been less than 1 for scalping, I'm ok with risking 2 points for a less than 2 point gain.
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