Silver Scalper

For SIL (Micro Silver), day trading margin is ~$2,500-3,500 per contract. With proper position sizing (0.5-1% risk), a $10,000-25,000 account is recommended to start. Smaller accounts limit your ability to take multiple trades and recover from losing days.

Quality over quantity. Start with 5-10 trades per day while learning. Experienced scalpers may take 15-30. Set a maximum (e.g., 20) to prevent overtrading. Focus on high-quality setups, not trade count.

With equal average wins and losses (~6 ticks each), you need 55-60% win rate to overcome costs. With better R:R (larger wins than losses), 50% can work. Target 60-70% for consistent profitability.

Absolutely yes. Always use hard stops, not mental stops. Scalping without stops is gambling. One runaway loss can wipe out days of profits. Set stop immediately upon entry, maximum 6-10 ticks.

Avoid: Asian session (low volume), settlement time (5-6 PM ET), during major news releases, after hitting daily loss limit, when emotionally upset, or when market is extremely choppy with no clear direction.

Good conditions: Clear S/R levels, price respecting VWAP, normal volume, some volatility but not crazy. Bad conditions: Extremely low volume (nothing moves), extremely high volatility (whipsaws), no clear levels, wide spreads. Check 5-min chart for context.

In trends, buy pullbacks to VWAP in uptrends, sell rallies to VWAP in downtrends. In ranges, fade moves away from VWAP expecting mean reversion. Use rejection candles at VWAP for entry timing.

Popular methods: Fixed trail (3-5 ticks), candle-based (below each 1-min candle), or indicator-based (8 EMA). Fixed is simplest. Candle-based captures more but risks giving back. Choose based on volatility - Tighter in calm, wider in volatile.

After 3 consecutive losses, take a 15-30 minute break. Clear your head. Review if setups were valid. If they were, it's just variance - Continue with discipline. If setups were marginal, tighten criteria. If you hit daily loss limit, stop for the day.

No, don't scalp INTO releases. Wait 5-10 minutes after for volatility to normalize. Then scalp the established direction or fade extremes if reversal signs appear. The initial spike is unpredictable.

Watch Level 2 for large orders appearing/disappearing. Watch Time & Sales for aggressive prints (green = Buyers, red = Sellers). Look for absorption (large order holding despite pressure). Iceberg detection (repeated fills at same price). Trade in direction of aggressive flow.

Define: Session rules, Setup criteria, Entry triggers, Stop rules, Target rules, Position sizing, Daily limits. Track all metrics. Review weekly. Adjust based on data, not feelings. Never change rules mid-session.

Scale in: 50% on signal, 50% on confirmation. Scale out: 50% at first target (6-8 ticks), trail remainder. Move stop to breakeven after first target. Use fixed or candle-based trailing. Never add to losers.

Accept that losses are normal and part of the game. Focus on process, not outcome. Be indifferent to any single trade. Take breaks when emotional. Set hard rules and follow them regardless. Pre-session mental preparation. Post-session review without judgment.

Realistic expectation: 0.5-1% of account on good days, with losing days of 1-2%. Net monthly: 5-10% if consistently profitable. Don't expect to make $500 every day with a $25,000 account. Consistency matters more than any single day.