Trade Smart: Use the Bar Timer When Scalping

Here’s a quick review of today’s Trade Scalper signals. We’re using the NinjaTrader 8 platform and a 1-Minute ES 12-20 (E-mini S&P 500) chart. Right away, you can see the many signals that occurred throughout the day. Everyone who uses the Trade Scalper has the exact same signals.

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Three short signals were provided pre-market. It’s up to you if you want to trade beyond normal market hours. We prefer the first few hours of the day, so we’re done trading and can focus on other things.

After the E-mini “opened” at 9:30 a.m. US/Eastern, we had five signals within the first 1.5 hours. It’s up to you to place each trade; we recommend taking only those that are considered high-probability. For example, signals generated during too slow or too fast conditions are considered low probability. You will see there are somewhere around 20 total signals. Some of these signals are of the Double Wick type, which is discussed in the customer-only training.

In case you are new to our approach, we often use the bar timer indicator that is free with NinjaTrader 8. The bar timer displays a countdown for the amount of time until the current bar closes. On a one-minute chart, the bar timer counts down from one minute for each bar, resetting itself every minute. This is important because you often want to get ready to place a trade at the close of a bar. With the bar timer, you can say to yourself, “I have 10 seconds until this bar closes. When that happens, I will know I need to place a trade according to the Trade Scalper rules.” This way, you can get in and hopefully out of the market with profit, thus reducing the risk associated with getting in after a perceived opportunity has occurred.

We recommend watching the full video because John Paul provides some insight as to how to best trade at day’s end.

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