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5 Straight Days of E-Mini Profits Using Price Action


Use the coupon code ATONEWS to get $60 off the ATO for a limited time!

Here’s a video of the last few days trading the At the Open (ATO) method on the E-Mini (ES) and the Euro (6E) currency. See the profitable results for the last few days as John Paul scrolls through the NinjaTrader chart, showing the exact entries the ATO software provides. In total, there are five straight ES winners and two 6E winners. There are undoubtedly more, but time is of the essence! The ATO is a mechanical, price action method that focuses on making profit from the day’s initial move. The profit targets, order types, stops and management are covered in the digital book and included live training session. The included software can be used as an optional aid.

Remember that the ATO course and included live training covers the following:

  • Identification and how to trade the ATO setup
  • Targets, stops, order types, management
  • The Chase the Trade method
  • Resetting the ATO
  • How to use the ATO software
  • Working with other markets

Prepare Yourself for 2012 with Private Mentorship

With nearly one month left before the close of 2011, many traders are still left scratching their heads wondering what went wrong. These traders, who have now experienced considerable loss, most likely traded using managed accounts or automated systems.

Well, what has made 2011 different from other years?

  • Standard & Poor’s credit downgrade of the U.S. government bond
  • Debt ceiling crisis caused by inability to reach a compromise until the 11th hour
  • Uprisings in Libya, Tunisia, Egypt influenced commodity prices and market psychology
  • Japan’s Tsunami and Nuclear disasters
  • The upcoming U.S. Presidential election
  • Portuguese bailout, second Greek bailout, ECB bond buying, Operation Twist and the threat of a collapsing Eurozone

With a worldwide economy that is becoming increasingly interwoven along with increased paranoia of repeating another 2008 collapse, 2011 has raised the bar as being, perhaps, the most turbulent economic year humanity has ever faced. Surely, no single person (or even group of people) can come up with an answer of prosperity for each country in the world. This means, in all likelihood, such conditions will continue far into 2012, especially with the U.S. Presidential race coming into focus. The United States still has to deal with its debt management plans. The Eurozone must decide how to manage the Eurozone or decide the best course for separation.

What does this mean for day traders? For optimal trading conditions, most day traders expect a reasonable amount of return on each trade (or investment), relative to the assessed risk. When the markets have been this unpredictable, relying on any sort of one-size-fits-all algorithmic computation is a recipe for disaster. This is even truer for retail traders, who are subject to the effects of high frequency trading and price manipulation. In addition, most CTAs and financial planners who buy and hold long term have seen the tragedies produced by these trying times (and lost many clients along the way). Managed accounts, algorithmic trading, and the like are simply not suited for today’s wildly swinging markets. In August of this year, we saw the Dow tumble 512 points just because of “spooked investors,” as reported by CNN. That drop was the Dow’s ninth deepest ever.

Instead, retail traders who want to make money consistently must be able to recognize tradeable market conditions. This is an essential part of risk assessment. Secondly, once a market is decided to be tradable, a trader must know the proper technique on how to trade it. As mentioned earlier, there are plenty of reasons to abandon automated methods. The only other approach is to observe price patterns on the chart and trade based on them in real-time. This is called price action trading. Since trades are based on objective data, traders are provided with a reason to engage the market. These main concepts are the foundation of the day trading education provided by Day Trade to Win’s Private Mentorship Program. In addition to recognizing price patterns, attention is paid to time of day, how time influences the market, along with news events. Furthermore, trading coach John Paul provides multiple stop strategies for every trade, ensuring proper risk management for every entry. Finally, each price action technique taught during the eight weeks serves to provide the trader with a complete map for trading every day of the week.

Get Ready for Trading in 2012
John Paul will soon begin another Group Mentorship class – most likely in the beginning of January, 2012. We’ve been receiving inquiries already without even advertising for it. That means if you’re interested, please let us know so you can be added on the list. As soon as registration becomes available, we’ll let you know. E-mail us at [email protected] with any questions you may have about the Private Mentorship Program. It’s time to take advantage of the volatility instead of fearing it!

2011 Las Vegas Trader Expo Photos

After a weekend attending the Traders Expo in Vegas, it’s nice to be back in Florida at the office. This year’s Traders Expo was held in one of the Bally’s convention areas. Admission was free, although registration at the check-in booth (or online) was required. Private conference rooms, filled with day traders and presenters, lined the hallway leading to the main exhibit area. Exhibit booths were inhabited by industry giants to lesser-known vendors, each looking to make the most out of the Expo experience.

Trader Expo 2011
John Paul with friends at NinjaTrader. From left to right: Ryan S., John Paul, John G., and Josh P.

NinjaTrader’s booth was one of the best. Three interactive stations were set up, allowing guests to see the power of NinjaTrader first hand and take the trading platform through its paces using live data. Some of the top NinjaTrader staff members were present. Ryan S. is of frequent assistance to the DTTW team whenever we have a NT question we can’t answer. John G., Vice President of Sales and Marketing, hospitably entertained his staff and guests to the booth using his visionary talents. Josh P., a walking encyclopedia of all things NinjaTrader, gave us the scoop on what’s in the pipeline for upcoming NinjaTrader releases.

Trader Expo 2011
Main Exhibit Area

Trader Expo 2011
Main Exhibit Area

Trader Expo 2011
Entryway to Exhibit Area

If you plan on attending the next Vegas Expo, wear comfortable shoes. Unless you’re at a booth, you’ll find the only public seating in front of slot machines. According to several repeat attendees, the number of booths and overall attendance was less than that of prior years, perhaps due to venue constraints or those opting to attend the next Traders Expo, planned for New York at the Marriott Marquis Hotel in mid-late February.

Who goes to Vegas just for the Traders Expo? Here are some non-day trading tips for making the most out of the experience:

  • This should go without saying – always have plenty of cash on hand. Everyone expects a tip, from the bathroom attendants to the high rise window cleaners tapping on the pane in the wee hours.
  • After snagging your belongings at baggage claim and heading out the door at the McCarran Airport, you may have to wait in line for 15 minutes or longer to get a cab. Instead, you might be able to find a limo driver inside the airport to expedite the trip.
  • If you’re looking for show tickets, try your hotel’s guest services or find one of the discount ticket places on the trip. Try to get your tickets no later than 4:00 p.m.
  • If the flashing lights, cigarette smoke and street promoters are becoming a bit much, consider renting a vehicle for a trip to the Hoover Dam, Death Valley or Grand Canyon.
  • Use a site like Kayak.com to book your flight and hotel tickets. Hotel rates can more than double on the weekends. Also, the rates on these third-party sites are often reduced (because the official Hotel sites like to show the “prestige” of higher priced, regular stay costs).

E-Mini Trading – 11 Ticks in Under 3 Minutes

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Use the coupon code 10OFFATLAS to get 10% off your choice of a
6-Month or Lifetime Atlas Line license.

Here’s a quick example of how to take the guesswork out of trading by using the Atlas Line software. The first trade on Nov. 15 is a Short at 1251.25. This order signal was automatically produced by the Atlas Line based on real-time market conditions. The trade was taken live through NinjaTrader’s DOM, allowing for enough time to capitalize on the reversal, or “bounce” that occurred off the plotted Atlas Line. On November 15th, we logged at least four separate Atlas Line trading opportunities, generating a total of +34 ticks for the day. Be sure to check out our results page to see the details.

As demonstrated, when working with limit orders, it’s important to leave them where they are, as moving the order’s position will send you to the back of the line. Order types, targets along with the three stop strategies (Time-based, Catastrophic and Prove-it) are discussed in the free live training that’s included with purchase. In addition, the training covers the three trade setups that are unique to Atlas Line trading: the Pullback, Strength, and Bounce trades. The Atlas Line is compatible with the latest versions of NinjaTrader, TradeStation and eSignal.

Economic Uncertainty Benefits Futures Traders

eurozone tradingIn these times of great economic uncertainty, Germany is in the spotlight as the country assumed to take part in saving its debt-ridden Eurozone counterparts from total collapse. Due to a weakening Euro, German exports became more attractive to the world marketplace. Investors, noticing the decline of Greece and Italy, then invested in Germany. This transfer of money has made borrowing much easier in Germany compared to other Eurozone countries. In many ways, the European debt crisis has made many Germans wealthy; however, there is concern about its financial role in assisting the country’s less fortunate neighbors.

Italy’s newly appointed lead economist, Mario Monti, is said to share Germany’s modus operandi in terms of economic principles. These principles consist of a capitalistic free market, fair competition and social equity. As stated by an Italian newspaper journalist, “His (Monti’s) idea of a social market economy is very near the German model. You do have competition, you have capitalism. But at the same time, the government is very active in the economy, you have a generous welfare state.”

The U.S. dollar is considered to be the world’s benchmark for comparing the relative costs of country exports. In many cases, the values of non-U.S. currencies are fixed to a set level to reduce export costs for these countries. A perfect example of such price fixation comes from a report released just yesterday (Nov. 14, 2011):

“The yen dropped as low as 79.55 against the dollar following the intervention (by Japanese authorities) after it reached a record high of 75.31 yen earlier that day. On Monday the dollar was around 77 yen.”

On the other side of the coin, there are also those who want to shift away from the Euro. Instead of a total (and likely chaotic) dismantling into self-sustained country units, the belief is that a gradual breakup will ease debt management. Countries would then be able to manage their own currencies and exports. In fact, a British CEO is offering a $400,000 prize (second only to the Nobel in terms of monetary reward) to the person who comes up with the best plan for one or more countries to leave the euro.

What can we learn from these recent events?

  • The world operates on a delicate framework of money deliberately pushed around by governments and private financial institutions.
  • Exports are used to determine a country’s financial health and worth in comparison to others
  • There is great disparity in proposals for coming up with a solution to debt resolution

Since we at Day Trade to Win are primarily futures traders, we can profit in the short term with minimal leverage, unlike stocks. Stocks are usually longer-term and are less liquid and are less affordable (more expensive). Additionally, our trading is based on price action. We trade real-time conditions. If the Euro is on the ride down, there is usually a direct correlation in the E-Mini S&P, and we’re entering to make profit all the way down. We do trade the Euro and other currency futures as well, but this is just an example of our preferred market (the E-Mini). This is why we’re seeing an influx of interest coming from former stock traders who want to get in on futures volatility. For the next year at least, it looks as though the ride will continue.

What are your thoughts?

  • Is the manipulation of currency values essential for maintaining worldwide economic stability?
  • Will there be a ‘trigger’ moment that will cause Eurozone countries to abandon the Euro? If so, do you think this trigger event will be social, political or (hopefully not) a natural disaster or act of war?
  • Is there a fix to the world’s current economic tension? Is this the cause of an increasing population and income disparity?

NinjaTrader Chart Basics Part 2

 

Figuring out how navigate NinjaTrader charts can be tricky at first.
This guide takes you step by step over some of the most commonly used functions.

 

How do I show the target, stop and other order information on the chart itself?

  1. NinjaTrader has a feature called “Chart Trader” that draws tagged lines according to input placed using the DOM or the toggleable Chart Trader order placement panel.  Instead of referring to the DOM to check placement, Chart Trader is a quick and easy way to gauge distance.  To use Chart Trader in NinjaTrader 7, simply click the fifth icon from the right on top of the desired chart.  The icon graphic should contain red and green candles.
  2. Instead of using Chart Trader’s blue / grey order placement panel, we prefer to manage trades using either a Dynamic or Static SuperDOM.  You can hide the Chart Trader order placement panel by clicking the grey arrow button in the upper right corner of the chart

 

What is the difference between a Dynamic and Static SuperDOM?

Dynamic SuperDOMs automatically ‘scroll’ to vertically center current price (as indicated by a yellow highlight) within the price ladder.  Static SuperDOMs require traders to manually scroll the price ladder up or down, as price is in a “fixed” (or static) position.

DOM availability depends on the broker you’re using.  The Static SuperDOM uses patented technology and applies a minimal fee on a per trade basis.

 

How can I make the DOM window longer?

For many traders, the default size of the DOM window is too short.  Some trading styles or volatile market conditions require a larger display of price for trade management.

To extend the height of the DOM window:

  1. Right click the empty space to the right or left of the price ladder.  Select Properties.
  2. In the Properties window, scroll down to the General section.  Under Number of price rows, enter a new value.  This is the height value.  We typically use 40 for our 22 inch monitors in the office.
  3. Click OK and the DOM should resize.

 

How can I compare values such as candle placement, price and time across multiple charts?

  1. With each chart that you would like to “link together,” navigate to the top of the chart and click the cursor button.  The cursor button, by default, uses a crosshair or mouse pointer icon and it’s placed near the middle.  Select Global Cross Hair.  Alternatively, you could use Ctrl+G to select Global Cross Hair with each chart.
  2. Resize your charts so that they are visible on the same monitor or across multiple monitors.  When moving the mouse over a Global Cross Hair-enabled chart, the position of the pointer will stay relative across all charts with Global Cross Hair enabled.  This is especially useful when comparing values on charts that use multiple strategies or those who prefer to always have one clean chart.

 

How do I save my chart layouts / configuration?

To Save your trading setup:

  1. Right click on each chart you want to save > select Templates > Save As
  2. Enter a unique name for each chart that you’ll remember and click OK.
  3. The chart with its current configuration is now saved.

Remember that you’ll have to go to Load instead of Save As in to load your chart.

When exiting NinjaTrader, you will be prompted to save the workspace.  This saves the configuration of all charts and Control Center parameters.  We recommend saving the template on each exit (or as frequently as needed), so your trading layout will be maintained across reboots, power outages, and similar events.  Saving the current layout as default will make the current settings automatically load when NinjaTrader is next started.

Sifiso Reviews Atlas Line & Floor Traders Secrets Manual

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Sifiso purchased the Atlas Line trading software after finding out about us through NinjaTrader. During the last two and half months, Sifiso tested the Atlas Line using a NinjaTrader demo (sim) account. He states “…my experience has been very very positive. There were few losses.” He also purchased the Floor Traders Secrets Manual (also called the X-5) and experienced similar successful results. Sifiso now uses the Atlas Line with a live account, looking forward to a confident career as a day trader.

This week, we’re offering $60 off the Trade Scalper Course by using the coupon code 60TRADESCALPER at checkout. Purchase also includes the Floor Traders Secrets Manual (also called the X-5 course). With the Trade Scalper, you can scalp futures, forex, currencies and financials at any time of the day using one minute charts and stops under six ticks. A recorded, free live training session is also included.

E-Mini Volatility Increasing by End of November?

Back in August of this year, you can probably recall the increase of volatility in the ES (E-Mini). This jump in market activity was caused by elected U.S. House and Senate members attempting to reach a debt consolidation compromise. With each side of the political spectrum preferring a different resolution, a deal was formulated in the 11th hour to manage the $1.2 trillion dollar debt reduction plan. On November 23, 2011, the debt ‘super-committee’ is to finalize this spending cut plan that is to go into effect January 15, 2012.

Considering the uncertainty of Greece and the Euro, there is a good chance the ES and other markets may become even more frenetic as November 23 approaches, depending on the action (or inaction) of the super-committee.

At Day Trade to Win, our primary method of determining a market’s ‘tradeability’ is the ATR (Average True Range) value. Using the ATR of the last four bars provides a real-time look at current market conditions. During the deliberation of the compromise (and for some time after), markets reacted with the ATR (Average True Range) hitting 9 or 10 points regularly. By comparison, for several consecutive months prior to the congressional negotiations, E-Mini traders experienced a relatively lackluster year with the ATR remaining under two points consistently.

As rule of thumb, the E-Mini natural ATR range on a five minute chart is between two and three points. Activity above three points is considered to be moving at a good clip, however, at five points or above, expect chaotic volatile action. It is always best to stay out of chaos. Any time the ATR is below one point, consider the market dead and not worth trading.

While a reasonable amount of volatility improves the trading experience (preferably two to four points), such high volatility makes for difficult trading. For example, a volatile day can be just as choppy as a less active day, with no clear direction (trend). When the market swings widely back in forth in such short periods of time, stops (and profits) are hit in a wild manner. Since we are retail traders (not robots), we must have time to gauge price action then act accordingly.

Let us know what you think…

Are these last-minute dealings of the super-committee meant to affect markets in the same way additional ticket sales are a result of stretched final game series in sporting events?

Is there a reason for the possible upcoming volatility other than ‘uncertainty’ such as political jockeying?

Will standard, market-influencing reports such as those dealing with employment and real estate have less of an impact than normal due to the breath-holding surrounding the November 23 deadline?

Are any E-Mini traders planning to buy the ES now and hold for several months in hopes for a sizeable, early 2012 profit?

NinjaTrader Chart Basics Part 1

 

Figuring out how navigate NinjaTrader charts can be tricky at first.
This guide takes you step by step over some of the most commonly used functions.



How do I open a chart?

  1. Go to NinjaTrader’s Control Center > File > New > Chart
  2. On the Data Series, select the market symbol (also called an instrument) for the chart you wish to open by double clicking your selection in the left pane.
  3. Make sure the symbol is using a contract month that has not yet expired (if not, you will have to add the new contract term through Control Center > Tools > Instrument Manager.
  4. At this point, you may configure additional chart parameters in the right pane.
  5. Click OK and a chart will load.


How do I set up a tick chart?

  1. Continue from the last instruction block.
  2. With a symbol selected in the lower left pane, click the Type setting and select Tick.
  3. Additionally, you will probably want to specify a value other than 150 ticks (the default).
  4. For volatile markets, the lower the value, the quicker (and more detailed) price will plot.
  5. By a comparitive example, a higher tick value of 2500 will wait for each bar to plot 2500 ticks before drawing the next bar (thus taking longer and allowing for easier trading / analysis)
  6. Experiment with the Value setting to find what works best with the markets you trade. Our scalping courses directly specify the best settings to use.


How do I get back to the Data Series window to make adjustments after I open a chart?

  1. Right click the chart (and open space that is not an indicator / drawing tool), and select Data Series.
    After reconfiguring, the chart will reload with the new settings.


How do I get rid of all these entries, stops and profits? They’re cluttering up my chart!

  1. Go to the Data Series window, scroll to the bottom of the right pane and under Plot executions, select DoNotPlot.


How can I quickly toggle between a chart’s time frames?

  1. In the upper left corner of the chart, second button from the left, time duration values are shown as a drop-down list.
    Note that for non-time based charts (Tick, Volume, Range, etc.), you will have to manually configure settings through the Data Series window.


When I load a chart, I can see that price is moving but the candles are nowhere in sight!

  1. In the upper right corner of the chart, you should see the letter F in a box (we call this the focus button).
  2. Click this button and the chart will automatically move into position at the current price.
    When scrolling through history, the focus button will keep you from having to reposition the axis, as the chart is automatically adjusted.


How do I manually scroll the X or Y axis? There was a large trending day and I want the candle size to remain constant when I look at the history.

  1. Easy enough – hold down the Ctrl key and drag (with the mouse) over the X value labels (time) and the y value labels (price).
    Make sure the mouse is covering these labels while dragging or the chart will just become crunched.

Frank Reviews Our Coaching Program (Private Mentorship)

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>> Sign up for the Next Group Mentorship Program <<

After purchasing the Atlas Line and a couple other courses, Frank decided to take his understanding of the markets one step further by joining the eight week Private Mentorship Program. In this video testimonial, Frank gives his results and opinion of the course material thus far. He’s currently midway through the education, and has learned many E-Mini trading techniques that have produced consistent results. In fact, he’s averaging four points a day and is done trading by 9:30 a.m. (he starts early in the morning).

You can join a new eight week semester of Private Mentorship that begins Monday, Nov. 7. Classes are held twice a week. All Day Trade to Win courses and software are included and discussed in greater detail along with many other techniques you can only learn through Mentorship. In addition, each training session is recorded so you always have a video reference.

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CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
GOVERNMENT REGULATIONS REQUIRE DISCLOSURE OF THE FACT THAT WHILE THESE METHODS MAY HAVE WORKED IN THE PAST, PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. WHILE THERE IS A POTENTIAL FOR PROFITS THERE IS ALSO A RISK OF LOSS. A LOSS INCURRED IN CONNECTION WITH TRADING FUTURES CONTRACTS CAN BE SIGNIFICANT. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION SINCE ALL SPECULATIVE TRADING IS INHERENTLY RISKY AND SHOULD ONLY BE UNDERTAKEN BY INDIVIDUALS WITH ADEQUATE RISK CAPITAL.
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