We never know exactly what’s gonna happen in the stock market. But this week, one thing’s for sure … there will be plenty of volatility.

The S&P 500 ETF Trust (NYSEARCA: SPY) has already gone from red-to-green intraday at the time of writing. 

I think it goes without saying that the current price action is unpredictable and volatile. 

For long-term investors, volatility is generally seen as a negative because it has the potential to damage the value of their precious equity portfolios.

But for traders like us, volatility is a gift. 

Take me, for example…

If I wasn’t able to take advantage of big price swings, I never would’ve been able to rack up nearly $4 million in trading profits. 

REMEMBER: The bigger the change in share price, the bigger the potential rewards are for traders.

That said, volatility can be a double-edged sword. A market like this one isn’t ideal for inexperienced traders to dive headfirst into.

But if you’re disciplined with your position sizing and picky with your setups, this market correction is a once-in-a-decade opportunity to scalp historic volatility.

So, how can you learn to scalp this unpredictable market like a pro?

Keep reading and I’ll show you how…

Forget About the Money

If you’re trading a market like the one we’re in, it’s important to focus on consistency over profits.

I’ll be honest … I was very lucky when I was first starting as a trader. 

I found Tim Sykes’ Pennystocking Silver service within my first few months of researching the stock market, then two years later signed up for his Trading Challenge — and they completely changed my life.

Sykes’ approach to money is different than most. He doesn’t care about making a certain dollar amount, as many other people do. 

These days, Sykes goes above and beyond by donating 100% of his trading profits to charity. If you want to hear more about Sykes’ philanthropy, check out the video below

Learning Sykes’ philosophy first hand showed me the importance of focusing on progress over profit.

This is especially true for newbie traders. Trading a small account during a period of heightened volatility is a blessing. It’ll help you build consistency without having to worry about blowing up a massive account. 

Now, I hope that I can pay it forward by passing these critical lessons along to you. (There are a lot of lessons I wish I could go back and teach to my younger self!)

REMEMBER: Trading isn’t about making a certain amount of money — it’s about reaching a level of consistency that works for your particular game plan.

‘Slow and Steady’ Wins the Race

Additionally, traders would be well-served to remember that ‘slow and steady’ wins the race in bear markets. 

Patience is the name of the game.

So many traders feel they need to make moves every day, causing them to enter trades they’d be better off avoiding entirely.

Don’t be like these traders. If you fall victim to this mindset, you’re setting yourself up for failure.

Think about it logically … the more you trade, the more opportunities you have to lose.

But if you narrow your watchlist down to the best setups only, you’ll find they don’t come along every single day.

Furthermore, you’ll prevent yourself from being distracted by mediocre plays. 

Being selective is a huge part of my trading strategy. (If you’re interested in learning EVERYTHING about my trading game plan, check out my brand-new ebook right here.)

So, please, stop crowding your mind with trades you don’t have a major conviction in.

Instead, start getting comfortable with sitting on the sidelines until the perfect pattern pops up on your watchlist.

Take it from me…

I traded much less frequently than normal for the first half of this year. I was patient and disciplined, waiting for my ideal setups. 

While many other traders blew up their accounts, I avoided devastating losses by sitting on the sidelines.

Then, when the perfect chart pattern emerged in mid-June, I nailed my biggest trade of all time. 

The lesson? ‘Slow and steady’ wins the race. 

Patience is a trading virtue … nurture it or pay the price. 

Final Thoughts

Trade safe, Evolvers!

This volatility can be a blessing or a curse depending on how hard you focus and how well you trade.

But for Evolvers, it should be a blessing. Harness the volatility to your advantage. 

I’ll be back in your inbox tomorrow with more bear market madness.