Topic Progress:
Scouting an Alt
If your first entry is wrong you will be wrong small if you scale in on the initial position. Scaling in and out of your entries helps you to avoid tying up too much margin account capital (if your using a margin account) in one coin at one time. For example, if you enter a full position of 3 lots in a coin by executing just one 3-lot trade rather than 3 one-lot trades, your capital is tied up for the duration of the trade. By scaling in, you reduce the amount of time the full amount of your capital is tied up in the trade.”In trading, a scout refers to your initial buy or sell which enters you into a position regarding a particular coin. For beginning traders, it is easier to refer to a scout as your initial buy of a coin when building your position by scaling in.

Scott goes into details about scouting in this Matrix Room recording from August 27th, 2019.

0:01:36 *Lessons on Scouting an Alt
0:01:52 *WABI/BTC
0:04:15 *XAG/USD (SILVER)
0:05:22 *XAU/USD (GOLD)
0:07:01 *PERL/BTC
0:07:53 *WAVES/BTC
0:08:32 *WAN/BTC
0:10:54 *SNM/BTC
0:12:23 *POE/BTC
0:13:01 *NXS/BTC
0:13:28 *VIBE/BTC
0:14:39 *WABI/BTC
0:16:38 *LINK/BTC
0:17:17 *LEND/BTC
0:18:31 *IOST/BTC
0:19:17 *ICX/BTC
0:19:46 *FTM/BTC
0:22:46 *FSN/BTC – Scouting an Alt
0:32:54 *FTM/BTC
0:35:05 *ERD/BTC
0:35:26 *ENJ/BTC
1:16:11 *END
Scott takes a look at FTM on Sept 3, 2019 and he breaks down how to potentially scout this alt based on the chart: