The Chart Champions Scalping Strategy (CCSS) was crafted in-house.
This particular strategy utilises EMA, Bollinger Bands, Elliot Waves, Horizontal and Fibonacci levels.
When scalp trading you should look to avoid using market orders as the fees will eat into your profits.
Remember, scalping takes place on lower time frames and requires the utmost focus and risk management.
When scalp trading expectations must be managed realistically, some trades will be closed within minutes of being opened and others may need to be managed throughout the day.
The Chart Champions Scalping Strategy (CCSS) was crafted in-house.
This particular strategy utilises EMA, Bollinger Bands, Elliot Waves, Horizontal and Fibonacci levels.
When scalp trading you should look to avoid using market orders as the fees will eat into your profits.
Remember, scalping takes place on lower time frames and requires the utmost focus and risk management.
When scalp trading expectations must be managed realistically, some trades will be closed within minutes of being opened and others may need to be managed throughout the day.
You may start your scalping session with a few losses before you have a run of wins. But with proper risk management, your wins will return you a profit by the end of the day.
This is a bespoke strategy, so it is worth reviewing this module several times and perhaps even paper trading it first.
NOTE: Scalp trading should never be looked at as an "easy money" approach.
Key Points of the Lesson
UTILITY
Advanced scalping strategy.
Multiple trades per day, strict criteria, targeting small gains repeatedly.
With practice and full focus ⇒ profitable.
IMPLEMENTATION
Activate Bollinger Bands on Tradingview.
Activate EMA 8, 12 and 26 on Tradingview.
Works best on the 3 to 5-minute time frame with high volatility.
When the price closes outside of the Bollinger Band to the bottom ⇒ Enter long, target EMAs 8,12 and 26.
When the price closes outside of the Bollinger Band to the top ⇒ Enter short, target EMAs 8,12 and 26.
50-100 trades per day, generally lasting minutes ⇒ time and focus intensive strategy.
Steps to follow when price closes outside of BBs on the 3-minute time frame:
Enter a limit order at the price of the candle loss.
Standard SL is 1%, 0.5% or 0.2% depending on the dollar range of the asset you are trading.
Target 8,12 and 26 EMAs with 33% take profit at each of the levels.
Once TP1 is hit, move stop loss to entry.
PRACTICAL EXAMPLE
TIPS & TRICKS
Add complexity to the base strategy to increase your success rate:
Add horizontal support and resistance levels.
Overall Elliott Wave count or HTF market structure.
Moving up or down percentage, crossing and RSI alerts.
Fibonacci levels.
Not a mechanical strategy ⇒ not all closes outside of the BBs are good setups.
Use 1% fixed stop loss with high volatility.
Use 0.2% stop loss when aiming for a 0.5M gain (low volatility).
If the stop loss is too large (because of a long wick), then the risk is not worth the small gain.
Trade with the momentum of the larger trend.
To enter a counter-trend position, wait for divergences to form.
Hard stop loss placement is recommended.
This strategy requires quick thinking and execution ⇒ full focus and concentration!
Always practice good risk management.
Use confluence.
TAKE HOME MESSAGE
CCSS is advanced and quick-paced.
Combination of Bollinger bands and EMAs.
Add complexity with confluence to increase the success rate.