The 3 Scalping Setups That Make Me A Living - John Kurisko

Introduction

This tutorial outlines three effective scalping setups shared by John Kurisko in an interview with Etienne Crete. If you're looking to enhance your trading skills, particularly in scalping, this guide will provide you with actionable strategies and insights to develop a disciplined trading approach.

Step 1: Develop a Trading Business Plan

• Understand the Importance: A solid trading plan is essential for success. It serves as your roadmap and helps maintain discipline.
• Key Components of a Trading Plan:
  • Goals: Define what you want to achieve (e.g., profit targets, risk tolerance).
  • Market Selection: Choose which markets or pairs you will trade.
  • Risk Management: Determine how much capital you're willing to risk per trade.
  • Review and Adjust: Regularly review your plan and make adjustments based on performance.

Step 2: Identify Your Trading Style

• Assess Your Preferences: Reflect on your personality and risk tolerance to find a trading style that suits you.
• Common Styles:
  • Scalping: Quick trades for small profits.
  • Day Trading: Holding positions within a single trading day.
  • Swing Trading: Holding trades for several days or weeks.

Step 3: Learn the Quad Rotation Strategy

• What is Quad Rotation?: This strategy involves identifying four key market conditions to determine entry and exit points.
• How to Implement:
  • Monitor the market for specific patterns that indicate a rotation.
  • Use indicators to confirm potential trades and enhance accuracy.

Step 4: Understand Divergence Trading

• Concept of Divergence: Divergence occurs when the price of an asset moves in the opposite direction of an indicator (like momentum).
• How to Spot Divergence:
  • Look for discrepancies between price movement and indicators (e.g., RSI, MACD).
  • Use divergence to identify potential reversals or continuations in trends.

Step 5: Look for Market Pivots

• Identify Pivots: Pivots are significant turning points in the market that can indicate potential reversals.
• Practical Tips:
  • Use historical price data to find areas where the price has reversed previously.
  • Combine pivot analysis with other indicators for confirmation before entering trades.

Step 6: Master the Holy Grail Setup

• What is the Holy Grail Setup?: This setup combines various factors to create a high-probability trade.
• Key Elements:
  • Look for confluence between different indicators and market conditions.
  • Ensure proper risk-to-reward ratios before entering trades.

Step 7: Utilize the 20/20 Bull Flag

• Understanding the 20/20 Bull Flag: This pattern indicates a continuation of an upward trend.
• Steps to Trade the 20/20 Bull Flag:
  • Identify a strong uptrend followed by a consolidation phase.
  • Look for a breakout above the flag pattern to enter the trade.

Step 8: Implement the Quad Super Signal for Exits

• Exit Strategy: Use the Quad Super Signal to determine optimal exit points from trades.
• How to Use:
  • Monitor for signals that indicate a reversal or a significant change in trend.
  • Set your exit points based on these signals to maximize profits.

Conclusion

Mastering the scalping setups shared by John Kurisko can significantly impact your trading performance. Start by developing a solid trading business plan, identify your trading style, and incorporate the strategies outlined above. Regular practice and review will enhance your ability to execute these setups effectively. Consider joining trading communities or resources to further your learning and connect with other traders. Happy trading!