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Here’s a sped up look at the first Atlas Line trade that occurred yesterday, Dec. 6, 2016 on the E-mini S&P. The Atlas Line produces a long signal at about 9:55 a.m. EST when price was at 2203.25. This signal appeared because there were two closing bars above the purple Atlas Line. The signal appeared on the close of the second candle. If the candles closed below, this would have been a short signal.
John Paul used 11 contracts, but it’s best to use a smaller amount if you’re new to trading. The order was filled at 2202.5. The profit target was set at 2204 and the stop loss at 2199.5. To make the entry visible on the chart, the TextAndMarker setting was applied within NinjaTrader’s Data Series window. The goal is to make profit as quickly as possible. The longer you stay in a trade, the greater the exposure to risk. It’s also important to know exactly what profit target and stop loss you’re going to use ahead of time. When using preconfigured values (via ATM Strategies), quickly changing the profit and stop to appropriate values may decrease risk or prevent an early stop out. Within about 10 minutes, the profit target was hit (+1.5 points). To compute the profit or loss of a trade, multiply the profit or loss value (e.g. 1.5) by the price per tick of the instrument (E-mini is $12.50/tick), then multiply that by the amount of contracts used. Keep in mind, this does not factor in broker fees or any extra values. Check with your broker to learn about any extra fees.
The Atlas Line is included with the Mentorship Program, along with all of our other courses and software. The next Mentorship class begins Dec. 15, 2016. Eight weeks of live training will show you how to use all of our strategies together and turn them into one trading plan. Click here to find out more.