Watch the video above to learn a few handy day trading strategies you can use right away. This hour+ long webinar sponsored by NinjaTrader demonstrates the versatility and effectiveness of price action trading. This video places emphasis on our Power Price Action trading course and why you should be using its methods.
First, John Paul explains why he prefers a 5-minute chart over other time frames, and how the ATR (Average True Range) can be used to dictate profit targets and stop losses. He then explains how this year’s price movement is influenced by the January Effect. John Paul predicts that 2013 will “be an up year” because January 2013 closed higher than the price at which the month.
At about 20 minutes in, John Paul talks about how the markets are manipulated. Big players fake out smaller, retail traders by driving the markets up and down, then causing a sudden reversal in which they truly make profit. In the Power Price Action course, you’ll learn to find indications of manipulation and how to trade it accordingly.
At about 29 minutes, John Paul discusses the Yo-Yo Effect. By locating candles that multiple long wicks (or Yo-Yo bars). Such price bars indicate the market is trying (and failing) to move in a specific direction. A grouping of Yo-Yo bars can be used to place your entries.
• 34:00 – learn how you can use NinjaTrader’s features like the DOM window to better see trading opportunities.
• 45:00 – learn how to spot trends
• 51:00 – how to determine the ATR for futures and currencies, and how to gauge your profit, stop, etc. accordingly
• 54:00 – how to use a news calendar to help your trading
• 1:10:00 – a special limited time offer for the Power Price Action course