My “Weak Hands” scalp strategy has gotten me 42% account increase in past month

I do this all day long on SPX. I use Bookmap to see where the orders sit on ES. Market direction, Good entry point, and minimum time exposure in this market is key! Get your money in and get it out as quick as profitable.

I buy 2 contracts, set a stop depending on the range it is trading at that time. Usually set stop at $100 loss max. I scale out 1 contract at when it's up $100 to cover my stop, move my stop to a $50 profit point on the one I hold. I sell when either I get stopped out at $50 profit or if it is still ticking in my favor ride it and move the stop up to the $100 profit point and wait till either sop out or the first 1m candle goes against and I'm out. So at minimum getting stopped It returns 4%. Get a good entry and run and I can grab $500 and out. Over and over, I never get greedy at only taking 10%, ALWAYS obey my stop so my max loss is generally 2%, minimum gain is 4% and take 10% without regret. Get up stretch out and look for another setup.

SPX is perfect, no wash sale rule, 60/40 tax advantage, always liquid, easy to track with the ES futures chart and the algos seem to love the even numbers on ES. Above all else I keep the emotion OUT! Stops are just a business expense. Quick gains add up and no blown accounts!

/r/options Thread