2022-08-18 in 8 Minute Trader, Broadcasts

I've been using The Scalper for almost a full week and here are my results.

Watch my video for a complete update and check out the screenshots below for today's results on a live account.  This example is on a $2500 balance using a 0.01 lot size.  

Why do I do it this on a live account and not a Demo?

Because I use "DEMO" only to learn a new platform and all the functions.  I believe that a demo account will ruin your trading psychology.  For some reason everybody wins on Demo and loses with real money.  I know the reason and that's why I use a small live account at the lowest risk level/lot size taking minimal risk but still trading with real money.

There are 3 components necessary as I see it to be successful with The Scalper.

  1. A rudimentary understanding of Market Structure.  Trends.  Swing Highs and Swing Lows
  2. Only take Scalper signals when you are in a trend
  3. (for me) Take profits quickly

I chose to take profits quickly because I already know what that will look like when I am trading with a $50,000 or $100,000 account.

Just take the green numbers in my MT4 below and 10X or 100X them to get an idea.  So when I increase my account size I won't have to make any adjustments to my psychology.  I'm not suggesting you do what I'm doing, I'm simply explaining why I do it the way I do it.

Now watch my video and let me know your thoughts.

8 Minute Trade : Scalper : Scott M : Trade 2022.08.18

Where to sign up for 8 Minute Trader with HARDMONEYSOLUTIONS:

STEP 1: Click the link below:

Then click "ADD TO CART"

Then click on Cart upper right hand corner ==》 Continue to Check Out

STEP 2: It will ask you "Who referred you to youngevity?"

Use this username as your answer in that box: Hardmoneysolutions

Next click submit

STEP 3: Fill out the form

Enter your credentials and credit card info for free spot

(Note: put in valid card credentials and submit but the system will not actually charge you when creating free account)

Once you do this you'll have your own account.

Recommended Broker

You can actually use any broker you wish to use.

We use and recommend ENVIFX.

After you have successfully created your enviFX account you will need to:
Step 1: Fund your account

Click on Deposit Funds  

Select the Deposit Type

Select a Wallet

Enter the Amount you want to deposit 

Click on REDIRECT ME TO PAYMENT PAGE - follow the instructions provided on the next page

Step 2: Create a live trading account

Click on My Accounts

Select the Account Type : Envi FX MT4 ECN

Next you will need to Select Currency

Select the Account Leverage : 300 or 500 (this is a personal decision)

Click on Create Account

An email will be sent from enviFX with your new account credentials.  Use the provided credentials to setup your MT4.

Step 3: Move funds into live trading account

Click on Internal Transfer

Select the Transfer Type : Wallet to Metatrader

Select Transfer From : (pick the one that has your recent deposit value)

Select Transfer To : (choose the newly created Live account)

Enter the Amount to Transfer 

Click on Request Transfer

When the transfer is complete you will now be able to see the funds appear within your MT4 application. 

Step 4 : Setting up the MT4 trading chart