Take a look at the entry, profit targets and stops used to place these two trades on a 1-Min E-mini S&P chart. The triangles near the chart represent the Trade Scalper software entries that help you know exactly when to enter.
For the first trade, John Paul placed a limit order at 1879, the same as the entry signal generated by the Trade Scalper software. John Paul prefers limit orders over market orders to prevent slippage. The profit target, based on the ATR, was three ticks. The stop was at six ticks. This stop loss may raise eyebrows, however, the time-based stop is used more frequently than the six-tick stop. If the ATR with a period value of four is above three ticks, go for three ticks. If it’s ranging from three ticks to two ticks, go for two ticks. If the ATR is below two ticks, don’t trade at all (market is too slow). This price action strategy can be used on a variety of futures and currency markets. No moving averages, stochastics, etc. are used by this method.
The course teaches when to place a trade long or short and the reason why. You wait until the candles plot according to the rules and this confirms the entry. Included with purchase, you’ll get the Trade Scalper software for NinjaTrader, the Trade Scalper digital course (about 100 pages), a live training session, and a recording of this live training session.
how much cost Ninja trader software ?, opening trading platform ,and is any other cost involve? I live in AU -sydney ,is market suitable to trade in my time zone? is your software compatable and effective with Forex?
Thank you for oportunity to ask.
Regards
Hi Kazimierz,
You should take a look at our Get Started Trading Guide to understand the costs of day trading. NinjaTrader is free to use for simulated trading (practicing). You only have to pay for NinjaTrader when you are ready to trade with live money. Then at that point, you have to purchase a NinjaTrader license and fund an account with a broker. NinjaTrader license options are available at NInjaTrader. The Guide will explain broker fees and account funding.
The best time to trade our methods is from 9:30 a.m. to noon, US/Eastern. This would be very late in the night / early in the morning for you, as we are are in the GMT-4 (US/Eastern) time zone. It’s possible to trade other markets with our methods, such as the Trade Scalper and Atlas Line. The Atlas Line and Trade Scalper are compatible with Forex, but keep in mind, you must be using NinjaTrader to get our software to work.
Please let us know if you have any further questions – email us at support@daytradetowin.com.