Are you missing daily profits because of scalping myths?

published on: June 9th, 2023

Are you missing profits because of scalping myths? Are you missing profits because you’ve heard this or that about Scalp Trading and it’s turned you off the idea?  Well, let’s set the record straight right here! 

1. Indicators – you think you understand them … think again.

Your trading screen… does it look at bit like this? 

Or maybe this?

How about this? 

You may have Bollinger Bands, MAs, RSIs, MACDs, maybe an Ichimoku Cloud and one or two others on your screen. Different combinations work for different people. Whatever your style, though, you probably have them set up just perfectly and you know how to read each one to a tee.

Ok, now, over on the left, hover over their names, click the Xs and delete them off your screen. Well, that’s actually a bit drastic, but we’re just trying to set the scene. 

Scalp trading is different than Day or Swing Trading, very different. We use different combinations of indicators and if we DO use the same indicators, we change the values and/or read them differently. We don’t wait for the trade come to us, we, essentially, chase trades.

The reason? Scalp trading is fast and furious – we are sometimes only in a trade for few minutes, even seconds. If we used indicators like everyone else does, we’d lose the trade.

When you first learn scalp trading you almost need to take your prior knowledge, crumple it up and throw it into the bin. You might be uncomfortable with this thought at first and try to sneak back to your old habits, but in the end, you’ll learn that there is method to our madness.

Everyone who takes our HODLNOTS course starts at the same place, from the beginning with the basics and learns step by step. We teach how to scalp safely and profitably.

2. If the market is down, is shorting the only way forward? 

Ahhhhhhh, the market is trending down – open a short! Well, hold on, not so fast. There is another way.

Scalp trading allows you to trade the market without having to risk extra money leveraging coins.

How? Well, since we scalp so quickly, we can take advantage of the breathing rhythm of a coin, regardless of whether the trend is up or down on the higher time-frames. Coins just don’t go down-down-down, they go down, then up, then, down then up.

Normally, traders wouldn’t be able to take advantage of these little breathing exercises, but since we are only in trades for very short periods of time, as scalpers, we can.

3. Trading is not a team sport! 

Trading can be lonely. Hour upon hour of analysing charts, at your desk, with headphones on, eating food that may be less than healthy, searching for that 1 great trade.

There is another way though – the HODLNOTS DEN!

Our DEN is a community of like-minded traders all with a common goal…to make profits. As the saying goes, there is strength in numbers and the crypto market is big enough for all to profit.

The Den is a place where many eyes are scanning the market for potential trades and sharing those gems with everyone else. Many eyes on the coins mean many coins can be scanned for possible entries. Working together, we profit more frequently. Trades that a lone trader may miss, can now be caught.

As an added bonus, you know what spending time with like-minded people fosters? – comradery. Sharing information leads to sharing life – getting to know the person behind the picture. Trading doesn’t need to be lonely. And, hey, if you aren’t a sharer, that’s ok too – you can still take advantage of the many-eyes that are scanning. Everyone is welcome in the Den.

4. You can’t make money scalping.

Well, they say a picture is worth a thousand words so…

Of course, not all runs are like the ones above. In fact, most runs you will gain a small % – 2%, 1.5%, 4%, .08%, 5% – but add those all up and you will be amazed by the total % after an hour, 2 hours, a day.

5. But why scalp trade at all – it seems like a lot of work.

Yes, scalping is hard work. Scalping takes time. Scalping is very active – it’s certainly not set and forget.

So, why do we bother when we could just as easily find a trade or use a call, set our buy in, our stop loss and our take profit levels, then walk away. Well, we do! A lot of us also day trade or long-term trade. We use great signals, like those from DTM or MTT, and we learn from day trading courses, like that from UTC, to improve out skills. But you know what we do while we are waiting for those day or swing trades to play out…we scalp.

We scalp for daily profits. We scalp those signals on the way up for bigger profits. Buying low and selling high definitely works, but you can make even more profit if you buy/sell/buy/sell along the way as well.

Scalping CAN be an option for everyone. With a little time and great training, you can actually scalp for a living or use scalping to make an addition income stream. In the world’s ever-changing conditions and job uncertainty, learning how to scalp to profit daily can be like having insurance and can give peace of mind against circumstances change.

For more information:

HODLNOTS Scalp Trading Course

HODNOTS Den Community

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