Game of inches – welcome to the intraday scalping

Trading is a like a big living, breathing organism which at one moment can love you and in a matter of seconds turn against you. You can love it one day and hate it another. It takes seconds to marry a position but sometimes hours to divorce it. Trading is a game of inches where margin for error is so small that you have to maximize your best day to it's full potential and minimize losses in the terrible day. Every session is different but they all have one in common. They offer plenty of opportunities. If you do not use this opportunity at that one moment it can be too late to enter and this particular setup which happened to be the best one in a day is gone. This missed trade then affects you psychologically and can mess up the rest of the trading session if you are not strong enough. And we can not be always strong. Our psychology is affected by so many things like the quality of our sleep, food and social interactions between our peers, etc. This is the reason why we have to use the best setup to it's fullest potential. We have to know:

1) what is our plan
2) what kind of play we are going to trade and at what level
3) where is our stop-loss level and if our RR is realistic
4) where to start trailing
5) where to add to the position
6) where are the hurdle zones ahead in our trade
7) where our multiple exit zones are

Only precise planning and super-focused execution can keep you in a process. Only this process can make you consistent pips. There is nothing else. It sounds extremely simple but it is enormously hard and only for 10% for those who tried it. Welcome in the world of an intraday scalper because sometimes even 10pips/session can be a huge amount of work.

[youtube http://www.youtube.com/watch?v=9rFx6OFooCs?wmode=transparent]