Today is the day to roll over your equity index futures. If you trade the E-mini, you can roll over your contract to the next contract period, March 2015 (ES 03-15 in NinjaTrader). It is customary to roll over the futures contract eight days before the contract expires. This is known as the roll date, which happens to be today, December 11, 2014. The next roll date will be March 12, 2015.
Click here to see the CME page with an explanation and future dates
Click here to see the official rollover instructions from NinjaTrader
The way we at Day Trade to Win roll over futures contracts is as follows. NinjaTrader usually “knows” the contract contract to use for any given market at any given time. When you know it’s time to roll over (or even if you want to check), do the following:
1. Go to NinjaTrader’s Control Center > Tools > Instrument Manager.
2. In the name box (top center of the Instrument Manager), type in the abbreviation for the market you want to roll over, e.g. ES. Click Search.
3. In the result box, click the correct market and the row will highlight. Notice below how NinjaTrader knows to set the Expiry date to the correct value (03-15 in this case). Click the left black triangle / arrow button so that the new ES contract is added to the list on the left. Then click OK. Optionally, you can click the old ES 12-14 contract and click the right arrow/triangle button to remove it from the list.
From this point forward, you can open a new chart for the new contract period or switch over your current chart by using the drop-down list in the upper left corner of the chart.
If you’ve been thinking about purchasing a NinjaTrader license, now is probably the best time to do so. Very seldom do we see NinjaTrader providing discounts for licenses. In case you did not receive their recent promotional email, here’s their offer:
Single Broker Lifetime License: Only $895 ($100 savings)
Multi Broker Lifetime License: Only $1195 ($300 savings)
Upgrade to a Multi-Broker Lifetime License: Only $300 ($200 savings)
*These discounts end Friday, December 19.
Why do you need to purchase a NinjaTrader license? You’re right – NinjaTrader is free to use for paper trading. However, as soon as you want to trade with real money, you have to purchase/lease a live license from NinjaTrader to “unlock” NinjaTrader’s ability to trade with real money. Note that to trade with real money, you will still need a funded account with a broker and have that connection set up in NinjaTrader. Purchasing a NinjaTrader license gets you halfway to truly engaging with the markets.
If you have any questions regarding these discounts or how credits from your existing lease may be applied to a new purchase, please send an email to [email protected]
We get asked the question, “How do I customize the appearance of the drawing tools in NinjaTrader?” on occasion. Traders want to use a consistent configuration for drawing tools such as the Text tool, Horizontal Line tool, Fibonacci Retracements tool, and others. For example, you might want to have a horizontal line default to a specific width and color because the current default value just won’t do.
Probably the best example we can show on how to customize the default drawing tool values applies to the Fibonacci Retracement tool. There are a good number of settings, and traders who use Fibs will likely want to change them.
1. First, it’s important to know where to find the drawing tools. On the top of a chart, look for the pencil icon and click it. You’ll get a drop-down list of drawing tools.
2. Click the Fibonacci Retracements Tool. Your cursor icon will become a pen instead of a pointer. Click and drag on the chart to draw the Fibonacci Retracement. With this particular tool, it works best if you click and drag in a diagonal direction.
3. With the Fibonacci Retracement now appearing on your chart, click it until you see the black squares, indicating active selection. Right-click the Fibonacci tool and select Properties.
4. Now that the Properties window is displayed, make your changes. Once satisfied, right-click an empty gray area of the Properties window and you should see Manage Templates appear. Click Manage Templates. You can save over the default setting by leaving “Default” in the list box and clicking Save.
See John Paul’s reference screenshots below (click for full size).
At Day Trade to Win, we commonly perform remote assistance for our clients in order to install and configure our trading software. Since our main platform is NinjaTrader, our support team has found on a couple of occasions a situation where NinjaTrader “hangs” and fails to load up. Although there can be many causes for this, the most likely cause we have found are problematic data feeds/connections that were set to connect on startup (connect as soon as NinjaTrader is loading). If you set up a connection to a data feed that is no longer active, this could possibly hang NinjaTrader.
Below, you’ll find instructions to help fix the issue. Remember that you should contact NinjaTrader support for all NinjaTrader-related problems. If you’re tech-savvy, then you may want to try the instructions below at your own risk.
How do you know if you’re facing the same problem? Typically, NinjaTrader will behave as follows:
1.) Double-click on NinjaTrader.
2.) NinjaTrader shows its splash screen (grey box with NinjaTrader logo and indicates your license type).
3.) NinjaTrader then does not load. The Control Center never appears and you’re left scratching your head. If you use the Windows Task Manager (Ctr+Shift+Esc or right-click the taskbar > Start Task Manager), you will see that NinjaTrader.exe is still running with memory consumption around 100 MB or so).
This is an issue because NinjaTrader is still running, yet is invisible. You have to find it in Windows Task Manager and then terminate it using Task Manager. Only once instance of NinjaTrader can be running at a time, so it is important to terminate the existing NinjaTrader process. Oddly, we have found this problem can occur with the 32-bit (x86) version of NinjaTrader while the 64-bit NinjaTrader on the system loads up just fine.
So how do you fix this NinjaTrader hanging issue? At your own risk, attempt the following:
1. Close down or terminate all open NinjaTrader instances aka processes. Do this via Windows Task Manager (Ctr+Shift+Esc or right-click the taskbar > Start Task Manager (or simply “Task Manager” on Windows 8) > if you’re on Windows 8, click “More details” > find NinjaTrader on the Processes tab and right-click it > click “End Process” or “End task.”
2. Go to your NinjaTrader 7 folder Windows Documents folder (default path: C:\Users\\Documents\NinjaTrader 7).
3. It is recommended that you create a backup of your Config.xml file, since this is the file you will be editing (right-click the file > Copy > Right-click any white space in the same folder area > Paste in order to create the backup file “Config – Copy.xml”.
4. Right-click the original Config.xml file and select Open With. Chose Notepad.
5. In Notepad, go to Edit > Find > Type in “startup”. You should be brought to an entry that reads:
6. For each instance of “true” in the file, simply change the “true” to “false”, so it appears as:
After you make the change, press the F3 key on your keyboard to find the next instance or go to Edit > Find Next.
7. Once you are certain that all instances have been changed to “false” (without the quotes, of course), save the file via File > Save.
8. Open NinjaTrader again and see if it helps. If this worked, then NinjaTrader’s Control Center should appear. Give it a minute or two depending on the speed of your computer.
» Sign up for Oct. 20 Group Mentorship «
In this video, John Paul uses the Atlas Line and takes a loss and then a win. October 13, 2014 was a very volatile day with many trading opportunities. It’s important to stay out of the market when it’s too volatile and too slow.
In the beginning of the day at around 10 a.m. US/Eastern, a Short signal appeared with price at 1895.25. John Paul followed the Atlas Line’s direction, placing a Short trade. The profit target and stop loss were preconfigured in the ATM strategy, allowing for the horizontal green and red lines you see on the chart. With the Atlas Line, you are always watching for the first stop loss rule to take place. Since the market is so volatile, a four point catastrophic stop loss is used, which is based on the market’s ATR value at the time of entry. The prove-it stop rule was hit first with price closing on the opposite side of the Atlas Line on the 10:05 bar. John Paul then manually closed out of the trade with a loss.
Next, it was time to wait for another Atlas Line trade. John Paul was waiting for two consecutive closing bars above or below the Atlas Line, which would generate a Double Bar Long or Double Bar Short trade, respectively.
Another short trade occurred again. You’ll have to watch the video to see what happens! Remember that the Atlas Line is included with the Mentorship Program that begins October 20, 2014. You can also purchase the Atlas Line separately:
» Get the Atlas Line «
» Sign up for Oct. 20 Group Mentorship «
On October 9, 2014, John Paul presented his style of price action trading to a large audience of traders. Quite a few traders followed along and placed the live trades, which worked to their favor. Many questions were asked and answered during this live webinar event.
In the video:
• The importance of proof and reading price action
• How to use the ATR to gauge whether you should be trading
• Common mistakes traders make and how to correct these mistakes
• Atlas Line signals on multiple markets
• First live trade at about 10 min. in
• Why limit the amount of time you hold a trade?
• Prove-it stop and other stop strategies used with the Atlas Line
• Retracements and re-entering trades
• Second live trade at about 39 min. in
• Why use minute charts?
• Assessing current conditions and ATR in markets besides the E-mini S&P
• Plotting of the Atlas Line Strength Trades
• Third live trade at about 1:09 min. in
• Questions and answers about products and the strategies
» Get the Atlas Line «
On September 16, 2014 the Atlas Line produced a Long entry signal on the E-mini S&P. The Long signal occurred when price was at 1978.50 around 10 a.m. EDT. Based on the ATR, John Paul determined a profit target of about seven ticks was possible. The profit target is always based on current market conditions, i.e. volatility as gauged by the ATR. A catastrophic stop loss strategy is used as a safety net. When trading, price can fluctuate, effectively hitting tight stop losses. The stop loss has to be large enough to keep you in the trade. The catastrophic stop loss is larger than regular market activity. Note that there are three other stop strategies used and John Paul teaches you to take the stop loss that comes first. For example, a prove-it stop might get hit first, allowing for a smaller loss compared to a catastrophic stop loss. At around 3:26 in the video, John Paul advises checking whether the market is overbought or oversold. It’s best to take the Atlas Line trades as close to the initial signal to avoid this market “exhaustion.” Doing so will help avoid price stagnation and improve chances of reacing the profit target.
With the upcoming Group Mentorship Program, get the the Atlas Line with a lifetime license along with all of our trading courses and software. Click here to submit your $500 deposit. This deposit secures your seat and provides you with the first week’s materials ahead of time. You’ll be able to receive the ATO course and software for NinjaTrader right away!
» Get the Atlas Line «
Now you can learn how to apply our ATR (Average True Range) strategies to markets other than the E-mini S&P. We use the ATR to determine profit targets, stop losses, and gauge volatility in many of our trading methods. The ATR is usually bundled with most professional trading platforms. As a bit of background, we set the ATR Period value to 4 to set the calculation to be based on the last four bars. This provides a clearer picture of what the market can realistically achieve. In any new, unfamiliar market, you can manually determine the ATR of the last four bars to help guide your trading.
Each market has a different measurement for price. This changes how we interpret the ATR values. You might be used to the ATR on the E-mini where each tick is worth .25. A tick is the smallest possible movement up or down. With the E-mini, John Paul recommends rounding down to the nearest whole tick. For example, an ATR at .824 would be considered .75 (three ticks) when calculating the profit target and stop loss.
In this video, John Paul reviews the Russell (TF), Dow Futures (YM), 30 Year U.S. Treasury Bonds (ZB), and 10 Year U.S. Treasury Notes (ZN). Pay close attention because the calculations will slightly differ for each market. Also, remember to consider how the actual dollar cost of each tick and market behavior will inherently differ with each market.
» Get the Power Price Action Course «
In this video, John Paul takes a moment from one of the live classes to take a live trade. It was a short E-mini trade on August 13, 2014 at around 11:50 a.m. with an entry price of 1944.00. The profit target was one point at 1943.00. The pivot stop was two ticks above the pivot (not the entry) at 1945.75. If the profit target was touched but not filled, John Paul would have moved the stop loss to allow for a break-even trade. When starting off with any of our methods, it’s important to paper trade until you feel comfortable, then move on to one contract and see how well you do in real markets. Practice goes a long way. The Stair Step method is also discussed lightly. When fully applied, this strategy will help you identify and manage trades when price is trending in an upward or downward zigzag pattern. On such days, it can be difficult to determine if price has just become stagnant, within a range or if it’s expected to keep breaking new highs or lows. To learn more about the Stair Step and the method John Paul used in this live trade, click the Power Price Action link above.
» Get the Atlas Line «
Here’s a recording of the webinar conducted on August 15, 2014.
• Atlas Line plotting live
• What causes the Atlas Line’s signals to plot
• How the Atlas Line can provide an overall direction or bias (long or short)
• How the BarTimer is used to time entries
• Identifying breakouts using week-based charts
• How to handle breakouts to reduce risk and identify entries
• Behaviors of most traders vs price action
• Trading the news for recent days
• Applying the ABC for recent days
• A look at the TF, YM, 6A, and 6E charts
• Best times of the day to trade