I know Iīm still a "newbie" in the field of scalping and bobīs method, but nonetheless I have a tip for beginners. There are 7 types of setups described in the book. For me itīs much easier to take trades if the market is trending or building a range on the extremes of the day. For example, if the market is trending itīs really not difficult to find good DD, FB, BB setups, also itīs easy to find RB and ARB, if the market builds a box at the bottom or top of a move. Then I would look for continuation.
What I donīt like is if the market goes down, build a box and then goes up. In situations like this I would rather wait for the price goes back to the bottom or even to the top and then look for some setups instead of taking trades in range between two extremes of the previous big move. I think it needs much more praxis to trade like this. Also I donīt really like the IRB setups cause of the same reason. IRB means taking a trade in a box itself. For this kind of setup you need much more experience.
So try to be patient and take only the "perfect" trades without traffic. There are 2 things, why you should do it like this. 1.) Itīs a good exercise for patience. (patience is one of the most important things in trading and especially in scalping. Donīt let emotions get over you! 2.) By taking only the perfect trades you will get nice results and not many of these trades will hit your sl, so you will get confident really fast.
Hope it can help you!
cheers
What I donīt like is if the market goes down, build a box and then goes up. In situations like this I would rather wait for the price goes back to the bottom or even to the top and then look for some setups instead of taking trades in range between two extremes of the previous big move. I think it needs much more praxis to trade like this. Also I donīt really like the IRB setups cause of the same reason. IRB means taking a trade in a box itself. For this kind of setup you need much more experience.
So try to be patient and take only the "perfect" trades without traffic. There are 2 things, why you should do it like this. 1.) Itīs a good exercise for patience. (patience is one of the most important things in trading and especially in scalping. Donīt let emotions get over you! 2.) By taking only the perfect trades you will get nice results and not many of these trades will hit your sl, so you will get confident really fast.
Hope it can help you!
cheers
I took this trade because the price continued to move higher and past on the 60% of the previous bearish move. till the top of the day was still enough room and no traffic.
