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This interview features Jean-François Boucher, a Montreal-based scalper and long-time market practitioner, recorded on the Desire To Trade podcast. He’s known for stripping charts down to price action, trading a tight “three pips in, three pips out” approach, and hammering home risk discipline with his “stay 99% flat” mantra. Boucher matters because he blends simplicity with repeatability—think one system, one time window, professional journaling, and firm rules that keep you trading tomorrow.
In this piece, you’ll learn how Jean-François Boucher sizes risk around ~1%, builds a scalper’s routine using a three-bar reversal with ATR/ADR context, and avoids the usual overtrading traps by fixing a daily window and walking away at target. We’ll cover his journaling method (including tracking mood and time-of-day), the math behind turning small edges into reliable outcomes, and the mindset shifts he used when trading other people’s money—limits on drawdown, stop after a set number of losses, no “scared money,” and zero revenge trades.
Jean-François Boucher Playbook & Strategy: How He Actually Trades
What He Trades & How He Sets Up
Boucher keeps things simple: a tight universe, clean charts, and repeatable rules. This section shows you how to set up your instruments and screens so you’re ready to execute fast without noise.
- Trade a small universe of 6–7 highly liquid symbols (majors, gold, or top equity index futures).
- Use a clean, minimal chart: price candles only, no moving-average clutter; keep colors neutral/positive.
- The platform must display tick/one-minute data with tight spreads; avoid anything with widening spreads during your session.
- Prepare a pre-market sheet: session high/low, prior day high/low, today’s economic events, and the day’s average spread.
Session, Tempo, and Trade Count
He works a fixed morning window and stops when the edge degrades. Here’s how to time your scalps and cap your activity.
- Trade a 4–5 hour morning block only; no chasing the afternoon when focus drops.
- Aim for 5–20 quality trades in that window, depending on conditions; never “fill the quota.”
- If volatility is dead (tiny ATR vs. typical), cut your size or skip entirely.
- Walk away once you hit your daily profit target or your loss limit (rules below).
The Core Setup: Three-Bar Reversal with ATR/ADR Context
The backbone is a simple three-bar reversal—basically a fractal flip—executed with size. These rules define the precise context so you’re not guessing.
- Only take a three-bar reversal in the direction of the current session bias (use structure and the most recent swing to define bias).
- Confirm there’s room “to target” using ATR(14) on your execution timeframe; skip if the remaining ATR is smaller than your stop.
- Check ADR: avoid entries when the instrument has already consumed ~80–100% of its average daily range unless you are fading into clear exhaustion.
- No trade if the spread exceeds 20–25% of your intended stop distance.
Entry Rules
Entries are mechanical, so execution is fast and consistent. Follow these steps to avoid hesitating or chasing.
- Place a stop-order at the break of the three-bar reversal trigger; never market-in after the move starts.
- If the price hesitates and doesn’t trigger in two subsequent bars, cancel the order and reassess.
- Do not trade directly into nearby session high/low, prior day high/low, or a clear liquidity shelf; require at least 1R of clean space.
- Limit to one “re-attempt” per setup type per instrument per session.
Stops, Targets, and Management
Small losses, small wins—done at scale. These rules keep the math on your side and protect the downside.
- Initial stop: beyond the reversal structure’s extreme + a small buffer (e.g., spread + 0.1×ATR on your chart).
- First target: fixed 1R or ~3–5 pips on FX majors (match the instrument’s noise); take full or partial at 1R.
- If partials: take 50–70% at 1R, move stop to breakeven, and trail the remainder behind successive swing highs/lows or a volatility stop (e.g., 0.5×ATR).
- Hard exit on a “failed follow-through”: if the next two bars after entry don’t push favorably, scratch at −0.2R to −0.4R.
Position Sizing & Daily Risk
He hammers a strict 1% risk rule and stays “99% flat.” Use these guardrails to survive long enough to exploit your edge.
- Risk per trade: 0.25%–1.0% of account equity; default 1% maximum.
- Max daily drawdown: 3%—hit it and you’re done for the day.
- Size by stop distance: position = (risk $) ÷ (stop size in $ per unit); never “round up” size.
- Never pyramid losers; add only if a fresh, independent signal appears and your total open risk stays ≤1%.
Walk-Away Triggers (Stop Trading Rules)
Scalpers burn out by overtrading. These rules force you to call it a day before your edge erodes.
- Stop for the day after four consecutive losing trades.
- Stop for the day after you hit your daily profit target (e.g., +5R or your planned cash goal).
- Stop immediately if you catch yourself increasing size to “win it back.”
- No “last trade” exceptions—close platform when any stop condition is met.
Trade Frequency & Lot Tactics
He prefers fewer decisions with meaningful size over hundreds of tiny bets. Here’s how to scale intelligently.
- Use standardized lot sizes (e.g., 10–15 minis or the futures equivalent) that match your risk per trade.
- If splitting lots, predefine the partial plan (e.g., exit half at 1R, trail the rest); never improvise partials mid-trade.
- Cap total session exposure: no more than two simultaneous instruments and no correlated bets at once.
Market Filters You Must Check
Filters prevent low-quality trades and keep you out during bad conditions.
- Skip entries during major news releases for your instrument; resume only after spreads normalize.
- Require minimum realized volatility: today’s intraday ATR should be ≥60% of its 20-day median for your timeframe.
- Avoid trading the first two minutes of your session open to let spreads tighten and structure form.
Daily Routine (Before, During, After)
His routine kills noise and locks in consistency. Copy this flow so you can execute without thinking.
- Pre-market (15–20 min): mark levels (prior day H/L, session ranges), note econ times, compute ATR/ADR, and pick 2–3 A-setups you’ll allow.
- During session: execute only pre-defined triggers, log each trade immediately (reason, mood, fatigue score, adherence).
- Post-session (10–15 min): update win/loss by setup type, check rule compliance, and screenshot 2–3 textbook trades for your playbook.
Journal & Metrics (Make the Edge Visible)
Boucher emphasizes journaling beyond just P&L. Track behavior so you can actually fix it.
- Log mood (1–5), focus (1–5), and time of day for every trade; tag each with setup name and market condition.
- Track these KPIs weekly: win rate by setup, average R per setup, average adverse excursion (AAE), and rule-violation count.
- If a setup posts <0.2R average over 30 trades or breaks your rules >10% of the time, bench it for a week and review screenshots.
Psychology Rules That Save Accounts
He’s ruthless about avoiding gambler behavior. Use these to keep your head clear.
- “99% flat” mindset: be in cash almost all the time; trades are short, specific bets—not identities.
- No revenge trades: after any −2R swing within an hour, take a 20-minute break and reduce next position size by 50%.
- Ban improvisation: if a situation isn’t in the written plan, it’s an automatic pass today—test it in sim before it earns a spot.
Playbook Maintenance (One System, Mastered)
His edge comes from repetition, not variety. Protect it by curating a single, living playbook.
- Keep one written system with 1–3 allowed setups; no new setups mid-week.
- Update the playbook only on weekends after reviewing screenshots and stats; rewrite triggers with exact language.
- Promote or demote setups strictly via data (30–50 sample minimum); feelings never override the numbers.
Trade the window, not the noise: fixed sessions, capped trades.
Markets reward rhythm, not randomness, so you trade a defined window and ignore the rest. Jean-François Boucher keeps a tight morning session where spreads are stable and his focus is highest. By limiting himself to a preselected block of hours, he sees the same patterns repeated, and execution becomes automatic. The rule is simple: if it’s outside the window, it doesn’t exist.
Within that window, he caps the day’s trade count to prevent decision fatigue and impulse entries. He sets a maximum number before the session starts and stops the moment that number is reached, win or lose. This forces you to choose only A-setups, respect volatility conditions, and walk away before boredom erases your edge. Adopt his cadence: book your window, predefine your cap, and let discipline filter out the noise.
Size by volatility, risk one percent, let R-multiples do the work.
Jean-François Boucher sizes every position off the stop, not a hunch. He defines risk as a fixed one percent per trade and lets volatility determine position size via the distance to the stop. When ATR expands, size contracts; when ATR contracts, size expands—risk stays constant. This prevents the common mistake of betting big when markets are wild and thin when they’re quiet. The math is simple and repeatable, which keeps emotions out of the sizing decision.
He measures outcomes in R-multiples so performance stays comparable across days and instruments. First objective is 1R; bank partials or move to breakeven, then trail the remainder behind structure. Over time, a few 2R–3R runners offset many tiny scratches and controlled losses. Combined with a hard daily drawdown limit, this approach compounds steadily without ever needing hero trades.
Three-bar reversals only with room to target, skip congestion.
Jean-François Boucher treats the three-bar reversal like a scalpel, not a hammer. The trigger only counts if it aligns with the session bias and has clean space to at least 1R before obvious barriers. He checks ATR and average daily range to confirm there’s enough fuel; if the remaining range is smaller than the stop, he passes. No entries directly into prior highs/lows, VWAP clusters, or stacked wicks—if structure looks messy, he saves the ammo.
Execution stays mechanical once conditions are right. He places a stop-order at the break of the third bar and cancels the idea if it doesn’t trigger within two bars. If the spread widens or volatility collapses mid-setup, he aborts rather than forcing a fill. The aim is a fast push after entry; if momentum stalls, he scratches or tightens quickly to protect R. By enforcing “room to target” and avoiding congestion, Boucher keeps the setup sharp and the expectancy intact.
Stay 99% flat: avoid prediction, execute mechanical triggers only.
Jean-François Boucher treats cash as the default position—he wants to be 99% flat and 1% deployed with intent. That mindset kills prediction and protects capital while you wait for your edge. No forecasts, no narratives, no “it feels like a breakout”; only written triggers earn risk. By staying flat most of the time, he keeps decision fatigue low and the quality bar high. When nothing matches the playbook, he does nothing—and that is the rule, not the exception.
When a valid signal prints, he executes it mechanically and manages it by predefined steps. If the market drifts or spreads widen, he cancels and resets rather than forcing action. After a fast-2RR stretch, Boucher mandates a break and cuts the next size in half to prevent revenge trades. His journal verifies compliance daily: if it’s not in the plan, it’s a pass today and a research item for the weekend.
Daily guardrails: stop after four losses or max drawdown hit
Jean-François Boucher builds hard boundaries into every session so emotions don’t get a vote. Four consecutive losses mean the platform closes—no “one last try.” He also fixes a maximum daily drawdown; once that line is touched, the day is over, regardless of signals. These guardrails prevent tilt, protect weekly equity, and keep you fit to trade tomorrow.
He pairs the stop rules with a positive cap: hit the daily profit target and you’re done. No scaling up after a hot streak, no victory laps—bank the day and reset. If conditions turn choppy or spreads widen, he reduces size or pauses rather than fighting the tape. Boucher treats these rules as binary switches, not suggestions; the faster you enforce them, the longer you survive in the game.
Jean-François Boucher’s message is deceptively simple and brutally effective: stay 99% flat, risk 1% per trade, and let a tiny, repeatable edge do the compounding. He trades short and clean—often “three pips in, three pips out”—using a basic three-bar reversal aligned with session direction. ATR tells him if there’s enough room to target; ADR tells him if the day still has fuel left. He shows up for a fixed window, takes what the market offers (think London–New York overlap momentum), and shuts it down when guardrails trigger—daily profit hit, four losses in a row, or conditions turn ugly. He journals more than P&L: mood, focus, time of day, and rule-adherence, because behavior is the real edge. No scared money, no revenge trades, no improvisation; if it’s not written in the plan, it doesn’t get traded. The result is professional risk management in bite-sized shots, designed to keep you alive, calm, and consistent.
If you want his playbook in one breath: keep your charts minimal, define a single setup, size strictly by stop distance to 1% risk, and execute only when there’s clear space to at least 1R. Walk away once your daily objective is reached, and walk away even faster when your limits are hit. Track everything, especially your decisions around losing streaks and hot streaks, because that’s where most retail edges leak. Treat cash as the default position, not a missed opportunity. Over weeks, the stats you capture will promote or bench setups without ego. And as Jean-François Boucher repeats, the compounding comes from discipline, not prediction—master one simple system, protect your downside relentlessly, and let time do the heavy lifting.
