Elite Momentum Scalper - interested in exploring further

#1

Hi DM,

Came across this in the MVP training course and it really caught my interest, thought I would start a line here to chat and explore it further.

Just a few things so far:

#1 - Contracts - I’ve only started exploring this AM, however I am a bit unclear as to what would be best to trade this style with. Obviously short/quick little gains so my mind is telling me ATM or OTM binaries, though I wonder if you have any experience or knowledge of how spreads might perform here. What do you suggest?

#2 - Volume error - I’ve got a very basic chart set up on TF with diag bars sized according to the sizer, range indicator, and expected vol, designed to limit my focus to marking up this style. Problem is I have noticed my expected volume resizing itself mid-bar. For example a volume bar would be coming up to exceed and suddenly the expected line would bump way up, on the same volume bar, and would therefore never exceed. Wondering if there is a small setting I can adjust here to help fix that, or understand further why the expected range might be changing like that.

2014-04-29_1111 - Doppelrock’s library

#3 - Confirmation - Wondering about giving the entry a couple ticks or not on the breakout bar, with the thought of some sort of confirmation. The furthest in the “correct” direction I’ve seen a bar develop is 3 ticks before the bar would reverse and become a failed trade. Not a ton of back data/research, but that appears to be the most. Question is, do you think it’s worth it to enter on the breakout bar after a certain # of ticks as best practice, or should I jump on every breaker bar right as it happens?

#4 - Stop Loss - It would be nice to use super OTM binaries and not worry about it, but not sure how they would move as I dont trade them often. I noticed in the video you mentioned to exit if the next bar reverses against you and move on, and other thoughts on this, maybe something with a little more room?

Thanks,

Rob

#2

Its a scalping strategy. ATM move faster but also lose faster. OTM 1 strike out move fast and eliminate stops being needed. Either way scalp to exit is what i usually do or you will give a lot back and just reenter multiple times if you want. If its choppy ie apex and mvp are oscillating against each other enter 1x only on each mvp oscillation when the vol confirms and breakout happens.

The “resizing” view is due to it is time based bar a new 4 minutes has passed so your watching to see if it exceeds vol at closing of thag diagnostic bar (on most recent 4 minute time frame)

Buying/selling if it breaks high/low by 3 ticks you will always break by a tick so don’t use that or always triggered.

Super OTM binaries have SUPER low proability of profit on days where they hit it can make a lot but you will lose a lot more often.

#3

Big tip is i only do multiple entries when volume is exceeding one after the other after the other - otherwise i just wait for it to turn around and usually i want it right in the 1st bar or 2 of the change in direction (if its not a above average day in volume…) if every bar is above average then i just run with it bar after bar after bar.