Above, check out a new video where John Paul shows how effective the (At the Open) method is when used in conjunction with the Atlas Line. Traders have been using the ATO trade for about five years, and it’s still an effective strategy.
In the video, John goes for 6 ticks, equivalent to 1.5 points, as determined by the market’s ATR (Average True Range) Using the ATR is essential for deciding profit targets – use what the market is dictating, not your emotions or personal financial needs.
Besides the ATR, John uses NinjaTrader’s Bar Timer to let him know exactly when candles are opening and closing. Price action is all about price and its relation to time, so it’s easy to see why this is a must have trading tool.