hi jokertrader - I'll give you my 2 cents although I don't really scalp myself. Yet.
Firstly I'm assuming that by 'scalping' we are talking about the activity that people used to do with many lots and attempting to buy at the bid and sell at the ask. That activity which now in electronic form is what, as I see it, many prop shops teach people to do. Of course with the electronic form if you have the right skills you can scalp more than just bid/ask spread.
Within that context, I think the volatility of CL makes it very impractical to scalp. You could be up 3 ticks and in the next 5 seconds could be down 10 ticks, just like that.
My take is that high-liquidity products are much more suited to being scalped. Products such as ZN/ZB or the ES and the Bund/Eurostoxx in Europe.
All the documentation I've read about scalping says to leave the charts alone, and the methodology as I understand it is being able to spot certain 'setups' that may take place at critical junctures of the market. Junctures being prior days' highs/lows; today's highs/lows; Ranges forming around Point of Control, or High Value Areas; significant changes in volume profile, and so on.
If you have John's basic course you will see that he presents a number of 'setups' and probably that's the basis for initial understanding of scalping, but that is not a complete methodology in itself. However his book explains how an aspiring scalper should position himself/herself if they intend to give scalping a try.
Did you read the entirety of the ebook?
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