Sandy C. reviews our Private Mentorship Program, providing an honest evaluation of his experiences learning how to day trade.
Sandy C., Private Mentorship Student / Graduate:
“Now how do you become consistently profitable? I think any answer to that question can be put into two buckets. The first is to just jump in, start trading, and learn by trial and error. The second is to find someone who is consistently profitable, knows what he or she is doing and pay them to teach you their techniques. I can assure you that the trial and error way is more expensive – Mr. Market will get your money; no doubt about that….Everything he (John Paul) said it would be, he delivered on…I can recommend his Mentorship without qualification.”
3 Profitable E-Mini Trades Today – Monday June 13, 2011
1st Video = Power Price Action trade (taught in the Power Price Action course and Private Mentorship)
2nd Video = Atlas Line Pullback trade (taught to Atlas Line customers in the included webinar and Private Mentorship)
3rd Video = RoadMap trade (taught in the Private Mentorship program only)
Using the NinjaTrader platform, John shows us how to day trade using price action. In the Power Price Action day trading course, traders learn how to use price (no fibonaccis, oscillators, or any other type of indicator) to make consistent profits while avoiding whipsaws and unpredictable volatility. All three days show emini trading, but all three methods work for other types of futures and currency trading.
Remember to roll over to the new E-Mini contract! We’re trading the September contract now.
We did a couple of Atlas Line posts this week. Now it’s time to demonstrate another technique, taught in the 4-DVD Power Price Action course.
Around 3:00 p.m. EST, (about 1 hour, 15 minutes before market close), we identified a Power Price Action setup. Based on a set of proprietary rules, today’s emini trading setup was worth 2.5 points.
These setups occur just about every day, sometimes multiple times per day. Also, the setups can be applied to other futures, financials and currencies. This is one of the price action methods we teach that can be traded on Forex as well.
Day traders always want to know the types of stops John Paul uses when trading:
1. Catastrophic Stop
2. Time-Based Stop
3. “Prove It” Stop
…each of these setups is explained in the course, which includes a color workbook and eight weeks of live training. You can receive three free videos which will help you on the path to learn day trading at PowerPriceAction.com as well.
Here’s another Emini trading video using the Atlas Line. This NinjaTrader chart shows the Double Bar Long signal produced at 1283.75 by the Atlas Line. June 9’s price action trading was all handled by going long, as price was continuously above the Atlas Line. Since price did not dip below the line, we knew that going long was safe. Each slight drop in price presented an opportunity to the an Atlas Line Pullback trade. These unique Pullback setups are taught to customers in the free webinar / day trading course that’s included with purchase of the Atlas Line software.
The Atlas Line called a great short trade on June 6, 2011 worth about 2.25 points, equivalent to $112.50 with a single contract or $1125 for those who trade with 10. Remember that each time you enter long or short, have a reason to do so. The Atlas Line provides a reason for how to day trade, and also provides an indication of the future direction of price. Once the short signal was generated, we knew to stay short because of the blue Line above the candles. An Atlas Line Pullback trade occurred around 10:30 a.m., with a red candle confirming price would drop again.
E-Mini S&P – Atlas Line Trading – June 6, 2011
Remember, we don’t post every time the Atlas Line has a winner – the software has really been on fire the last few months, even more than usual.
A private training webinar (like a mini day trading course) is included with purchase of the Atlas Line. You can learn how to use the software and identify these unique setups. Also, the Atlas Line works with every market: Emini trading, Euro, Russell, Dow, Forex, etc. and is available for NinjaTrader, eSignal and TradeStation.
Recorded Live – June 2, 2011
For those of you who missed today’s webinar presentation with John Paul, here’s your chance to see how the Atlas Line performed. Watch the video and pick up a few price action strategies for trading the E-Mini (ES), Russell (TF), Euro Currency (6E) and Crude Oil (CL). The video contains a few setups that are usually taught only to Atlas Line customers, so it’s definitely worth watching. You can also see how to use NinjaTrader’s ATR feature to your advantage. Be sure to watch it in 720p so you can see everything on the charts clearly. Also, there’s a coupon code given away in the video for 10% off the Atlas Line.
What happened today? the market was asleep then BOOM! E-mini Trading is back or will it be short lived? No one knows, but one thing is for sure if a trader learns day trading correctly then regardless of which Futures Market traded, profits can be consistently made. The tools needed, well not much here when trading price action, but a good coach and trading mentor is key to cut down on costly mistakes that do and will occur. Today I’ve attached the Atlas Line to demonstrate how early in the day a price action tool caught the entire day’s move. Don’t expect every day to be like this, but they do happen and you should be there to catch them!
Four Profitable E-Mini S&P Trades on June 1, 2011
If you’re from the United States (like us), you’re probably aware that Monday is Memorial Day, a federal holiday. Considered the unofficial start of the spring / summer vacation season (while commemorating fallen military service personnel), Memorial Day is always the last Monday of May. Every year, millions of Americans look forward to this three-day weekend. The lucky ones are also able to take off Friday before (today). As traders, we are somewhat dependent upon these lucky individuals who are normally trading with big money, creating volatility in the markets.
Whenever you encounter a trading day before a major U.S. holiday (like today), you can expect to see relatively low volatility for Emini trading. For example, today’s price action trading was bound within a range. Traders collectively decided on the highs and lows of the day, making the same mistakes and assumptions. Days with better price action / volatility are not range-bound. Instead, they show more of a gradual slope in the rise and fall of price instead of the zig-zag choppiness and periods of flat price action. This same behavior occurs on all U.S. based markets, having a great affect on all of futures trading.
Using the Atlas Line®, it’s still possible to make money on days like today (ES – May 27, 2011)
In the chart above, we purposely removed all of the text pointing out the profitable Atlas Line trades so you can see the price action. You can see how the Atlas Line was right on the money calling out the Long Trades and the Short Trades despite the relatively “flat” trading that was offered. If you’re not using a trading tool like the Atlas Line or one of our day trading courses other price action trading systems, then it’s best not to trade on days like today.
If you’re still going to attempt to trade anyway, at least try to stick with the morning session. The morning has traditionally offered the most consistent movement. Some days are really cut out do be traded ONLY the morning session. We refer to these days has “half-day trading.” A day like today offers some good morning trades and no reason to stay in to subject yourself to losses later in the day. Take advantage of the markets and give yourself an early start to the holiday weekend!
Here are some general tips on how to day trade around holidays:
- Be careful trading on days before holidays. The big players are already out boating, so don’t expect the same amount of volatility
- Trade with the professional traders, don’t trade against them.
- Trade with the professional traders, don’t trade against them.
- Learn day trading based on price action so you’re not trading an indicator / algorithm that’s meant for a volatile market
- If you must trade, trade the morning session. It offers the best price action you’re likely to encounter that day
We had a great turnout yesterday for the Power Price Action webinar sponsored by Optimus Futures. For those of you who were unable to attend, you can watch the recording here:
This presentation, shows how to day trade price action using techniques traders of all markets can put into practice:
- Basic price action principles for futures trading
- Emini trading vs currency trading vs Forex trading
- How to set up your charts for optimal price action results
- Common price patterns and how to use them
- Why it’s never a good idea to use indicators
- How to enter trades and fill orders more consistently
- How to take advantage of mistakes other traders make (and their common trading behavior)
- …And much more
While this webinar doesn’t show the unique methods taught in the full Power Price Action day trading course, there’s still a ton of valuable information. To learn day trading properly using the Power Price Action method, you can visit the Mentorship Program page (it’s included) or the Power Price Action website.
Futures trading has almost been around since the beginning of time, in one form or another. A major difference now is the accessibility to markets all over the world and the way orders are instantly placed. Another difference is that rules and regulations are set in place to protect the buyers and sellers. Along with all the red tape is the notion of contract rollover. A beginner day trading course will most likely not provide the information needed to prepare traders to rollover when the time is right. I have daily conversations with day traders all over the world, and how to day trade consistently is a common theme discussed. You may like E-Mini trading or maybe you fancy Currency trading, but truth be told that all traders should know the basic concept of rolling over to the next contract month when the time is right. To start you off on the right foot, I want you to learn day trading right from the start, and that means that learning to rollover a futures contract correctly is key!
The rule of thumb is to rollover to the following contract month on the 2nd Thursday or Friday of the expiring month. That’s it!
Simple, to the point and now you know.
E-mini and financials indexes, futures currencies and any other futures markets all work the same way. Find out more about futures contract rollover.
Knowing when and how to enter markets like the Euro Currency is 50% of the battle. The other 50% is deciding when to exit. The Atlas Line® day trading software works by making this extremely easy: order signals are automatically produced, advising you when to enter. In addition, the plotted line helps confirm the direction of price. When price is above the line, go with long trades. When below, go short. A free webinar is included with purchase, so you can learn special setups that can only be identified with the training, such as the Pullback trade that occurred around 10:50 a.m. today (see chart).
Futures trading (and currency tading) is safer than trading markets like Forex. In addition, emini trading is much safer compared to markets like the Japanese Yen, which seem to be all over the place. When trading the Euro, always use stops and trade with a clear direction in mind. The free webinar allows you to learn day trading for consistent profits in markets like the Canadian Dollar, Crude Light, British Pound, Australian Dollar and other decent-performers.
Grabbing Points Trading the Euro (6E)