Here’s a recording of today’s webinar from January 3, 2017. In this hour-long presentation, John Paul (founder of DayTradeToWin.com) teaches how to understand the day as a whole using basic charts and price action. Free educational tips are offered as well as the Atlas Line and Trade Scalper plotting live. See below for the times at which these strategies are shown.
He estimates the market is choppy 75% of the time. Knowing if a trend is present is important when deciding to employ counter-trend trading, trailing a stop, support and resistance, and other techniques. If the day is in fact trending, you’ll need to trade differently to make the most of it. Market open time for the E-mini S&P is 9:30 a.m. EST. Although technically this is not the open time, this is the time when the market becomes active. The first 2.5 hours of the day from 9:30 a.m. to noon EST, is considered the Part A of the day. Using the ABC pattern, using the highs and lows of the A period, you can look for a breakout in Part B. Part B is simply the next 2.5 hours (noon to 2:30 p.m. EST). If there is a breakout, that does not mean it will continue. Follow the rules to look for two consecutive closing candles outside the range. This can be used as one of the factors to decide if it’s a trending day. Watch the video to see how to plot the A, B, and C sections through multiple recent days.
At about 21:45 in the video, take a look at the Atlas Line plotting live. There was a Long signal generated at 2249.75. The vertical alignment of the text signal is always aligned with the entry candle. The entry candle, in this instance, was two closes above the purple Atlas Line. This Long entry candle was at 9:55 a.m. There are multiple stop strategies that John Paul uses. The closer you enter in to the Atlas Line, the better. The prove-it stop is when the price closes below the Atlas Line. The time-based stop is four consecutive candles (about 20 min.). A catastrophic stop is meant to save you from unexpected, high volatility situations where price suddenly takes off. Click here for the Atlas Line
Around 36:50, take a look at the Trade Scalper software plotting live. This is the demonstration version, so it’s not as fully-featured as the version you’d get with purchase. For example, you won’t see any of the horizontal or vertical lines that help guide your trading. Each Trade Scalper signal appears as a Short or Dbl Wick short on the chart with an accompanying color triangle to indicate direction. The Trade Scalper is fully explained in the included course and accompanying live training. Click here for the Trade Scalper