28 May Eureka moment
An interview with our scalper
|Yesterday I had a great call with one of our RTCT feature speakers, Mike Hamilton, who will talk at next week’s live event in London.|
On the call I started by asking Mike what attracted him to trading and what he’ll be covering at the workshop next Wednesday:
Mike: I’ve been trading since the 1980’s; the markets offer trading opportunities every day so I never lose interest. I’m doing a job I enjoy so that’s everyone’s goal isn’t it?
Me: What was your Eureka moment?
Mike: I started out investing in stocks using a simple value system, but when I started trading full time in 2005 I switched to day trading futures in oil, indices and GBP. I noticed how one basic tool could be used which picked off pull backs almost to the pip, or even on the pip most days. Then I was studied how the forex market measured the market open and put the two together. Eureka, I had a very high probability system.
Me: But what makes it so special?
Mike: It’s because it’s so simple, easy to apply every session (UK & US); it makes my trading in the live trading room mechanical, rules based so everyone knows what to expect. We apply the same rules every day and expect the same results.
Me: So is it just a special indicator?
Mike: No, the problem with most indicators is they are lagging – they tell you what happened yesterday, or last week, or last year – and that’s no good for someone like me who likes to be in and out the market on the same day! I want to understand what’s happening now – and where the the banks going to buy or sell today – do your indicators tell you that?
Me: Not really! but scalp trading is an established trading strategy, what’s different about your style?
Mike: This is a very different kind of scalping where we are finding confirmation levels, not wasting time on 2 minute charts. We aren’t scalping for 10 / 15 pips, we look for 25 pips.
Me: Wow! 25 pips a day, a few days a week, can be a good income most of us, is it really achievable?
Mike: If you’re willing to put the work in – anything is possible! My Scalper School traders join me before the markets open in a live online trading room to see how I plot the system on my charts. When the markets open I want to see the same price action to take a trade, otherwise I wait patiently.
Me: Can anyone learn to trade this method?
Mike: Yes, if you have the basic training then you can exploit this method. It’s so good I have had traders join us who have traded for a few years; for most it’s a ‘eureka’ moment when they see how the system works.
Me: Thanks Mike – I’ll look forward to joining you at the workshop next Wednesday in London to learn more!
If you want to learn more, and meet Mike in person, please join us both at our special event in London next Wednesday afternoon. It’s free to attend, simple click the link below:
Powerful intraday trading strategies for consistent returns
Wednesday 29 May – 1:30 – 5PM
Fineco Hub | Ground Floor | 40 Gracechurch Street | EC3V 0BT | London City
REGISTER NOW TO SECURE YOUR SEATSimon Campbell MBA ACSIFounder of Round the Clock Trader
PS – After the workshop at 5pm, there will be refreshments available and we hope you can stay for a beer with us. Register here
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