This blog is just to share with you my winning strategies as a scalper/day trader.
I use 1m,3m,5m when scalping. Charts below are showing 5 min.
Scalping is a strategy where you target to profit anywhere in between 0.5%~2%.
I try to find as many chances through out the day and enter when I have enough confirmations.
In this case, I shorted 4,000 IOTA(about $4.5k). Reason for entering?
- RSI double tops and couldn't break above resistance.
- Histogram started to fall and MACD crosses the signal to the negative side.
- I can count 5 impulse waves (due for correction)
*other coins were falling too. reason why I shorted IOTA specifically is due to the higher volatility at that specific time.
Entered position @: $1.1905
Closed position @: $1.77
Why did I close at $1.77? Originally, my closing order was at $1.7(55 ema), but I saw bullish divergence on 1 minute so I exited before price shot back up.
$0.58 cents per coin doesn't sound like much? My profit was almost $60 in just two hours. Very HAPPY.
It took longer than I expected, but it was a very very easy 1.15% gain.
Look at the charts below to see how I entered this position.
