Our trading software/indicators are now available for NinjaTrader 8. NinjaTrader 8 has been redesigned with many new features. Transitioning to NinjaTrader 8 is fairly straightforward, as all of the main features are intact with the same or improved capabilities. The look and feel is somewhat different, as this new version offers dark themes and clickable text instead of buttons in many areas. Clients can now use the At the Open, Atlas Line, Multilines, Roadmap, ABC, and the News indicator with NinjaTrader 8.
John Paul, founder of Day Trade to Win, held a live webinar to demonstrate functionality on NinjaTrader 8. We’re committed to providing free updates to our clients who have lifetime licenses. For example, you can contact us if you have a Lifetime Atlas Line license or a Trade Scalper license. If you’re a Mentorship student, you will receive all the updated software. Please email [email protected] or use the contact page to find out how to upgrade your software.
As a 10+ year industry leader for trading software and education, DayTradeToWin offers the best strategies to understand price action. Courses are suitable for all experience levels. The next Mentorship class begins April 20. With your early enrollment, we will send over the trading material right away. Seats are filling up, so act now before there’s no more space.
To learn all the tricks in John Paul’s arsenal, join the next Group Mentorship class that begins Feb. 11. With your early enrollment, we will send over the trading material right away. Seats are filling up, so act now before there’s no more space.
Here’s part two of the recent live webinar. The first real-time Trade Scalper trade was a three-tick winner. Watch the rest of this video to see another Trade Scalper three-tick winner.
In the first five to 10 minutes of market open, be very careful because many traders are battling for positions.
There are two scalping strategies taught by John Paul: one is the Trade Scalper, offered on the courses page and the Price Action Scalping method, taught only in Mentorship. Most of the time, he prefers using a 5-min charts and placing two or three trades a day at most. It’s easy to risk more than necessary when scalping. When trading into the afternoon, it’s easy to give the market back all your wining trades.
If there are news events, it’s best to stay out until the volatility subsides.
Even if you have the money to trade many contracts, you can still be psychologically impacted by winning and losing traders. That’s why John Paul recommends practicing first, starting with one contract, and moving up as you see success.
Is there an upper limit to the number of contracts one can trade? John Paul says yes. If you trade with 50 contracts and use limit orders, only a portion may get filled. That’s called a partial fill. Using limit orders will prevent you from getting filled completely. Trading many contracts using market orders instead increases the likelihood of getting filled completely. Also, don’t trust the buying and selling numbers seen in the DOM. Hundreds of buying or selling positions can instantly disappear on the DOM. Don’t get lured in!
Part 2 of the recording will be posted soon
Did you catch the two Trade Scalper trades this morning? John Paul took these real-time trades – watch the video. The first trade was worth three ticks. You can see the Atlas Line, Trade Scalper, and ATO signals live as they appeared on the chart. A large number of traders were in attendance. Later in the presentation, the Atlas Line began to plot with a signal to go long (buy the market).
• The first 5-10 minutes of the start of the session, expect high volatility and whipsaws.
On Fridays, it’s common to encounter slower activity and manipulation. Buyers and sellers flip-flop.
• The E-mini (ES), Nasdaq (NQ), and Russell (TF) have similar movement. When scalping, the Dow (YM) is about $5 per tick, so that does not leave much after commissions.
• Summer trading – no need to trade 24 hours a day. Overnight and last hour are traditionally less active. Stay out of the market when conditions are not ideal. Saving money / avoid risk is just as important as winning.
• When beginning trading, spend time practicing. When using real money, despite your wealth, begin with one contract and move up slowly from there.
• What happens when your target is hit and you’re not filled? Price usually has to penetrate to fill your order. It’s better to not take a loss. Get out with a smaller profit instead.
• Problems when trading many contracts – partial fills occur when using limit orders. Market orders help avoid this problem. Getting 10 to 15 contracts filled on a limit order is not too difficult, but above 20 can be challenging.
• The videos page is now updated with over 300 videos, going all the way back to 2009. The methods mostly have not changed. Very few in this industry can claim the same.
• Are you serious about becoming the best trader possible? April 11, 2017 is the next Mentorship class. Two months, twice a week where you receive all our courses and software for a reduced price. Learn everything we have to offer. Click here for details.
By popular demand, here’s the live webinar from yesterday, March 9, 2017. Many traders participated with a lot of great questions. The markets have been choppy lately. See how John Paul takes an objective approach despite the odds. You have to stick to the strategy and the rules no matter how intimidating the market can be.
• Atlas Line live signals
• Trade Scalper live signals
• ATO (At the Open) live signals
• Understanding different order types (limit orders, market orders, stop-limit, etc.)
• Battling choppy markets
• Understanding trends
• Working with price action day in and day out
Want to get the same signals on your charts? Eight weeks of live training plus the ATO, Atlas Line, and Trade Scalper are all included with Mentorship. The next Group Mentorship class begins March 14, 2017. Click here for details. If you want to arm yourself against the markets with the Trade Scalper or Atlas Line standalone, click here for our courses page.
March 9, 2017 is the official rollover date for E-mini futures. On that date, you can switch to the ES 06-17 (June 2017) contract. As of this moment, most traders are still trading the March contract, which currently has over 6x the volume compared to the 06-17 contract. Of course, the volume will transfer to the 06-17 contract in the coming days. Some traders prefer to trade the contract with the greatest volume. Others prefer to switch on the exact roll date, no matter what. Click here for the CME page that shows the volume. On the roll date, expect a significant amount of volume to transfer over. After March 9, the next roll date is June 8, 2017.
As a reminder, here’s how to roll over your contracts with NinjaTrader 7. If you use NinjaTrader 8, click here. In NinjaTrader 7, begin by going to Tools > Instrument Manager
1. In the name box, type in the name of the instrument you wish to roll over (e.g. ES)
2. Click Search
3. A row should appear for the instrument you searched for. Click on the row so it becomes highlighted. If you’re doing this on or after Mar. 9, notice how NinjaTrader automatically knows the new contract to use. If you are rolling over early, you may need to select 06-17 from the Expiry list.
4. Click the button that has a black arrow that points to the left. Doing so will add the new contract period to the list of selectable instruments. If desired, you can select old contracts from the left list and then click the right black arrow button to remove them.
5. Once satisfied, click OK at the bottom.
Now, go to an existing chart or open a new chart. You should be able to select the new contract period.
This picture shows the steps from above:
Here’s a live webinar conducted and recorded by John Paul on March 1, 2017. Many traders wanted to see the signals that were generated during the morning. Skip to 45:50 to take a peak at the Atlas Line signal. Within a couple minutes, you can see the many good Trade Scalper trades. The signals that appear on his chart today are the same as the ones that would appear on your chart. To purchase either system, head on over to our courses page.
Topics discussed in this webinar:
• Candlesticks vs. other types of charts
• Trends – how common indicators fail to catch the big moves in time, trend lifespans
• News events – countries to look for, high vs. medium vs. low impact events, free news indicator and calendar, gauging market reaction, timing your entry, rules for finding entry (two consecutive candle rule)
• ABC – identifying trends, breaking the day into three sections, finding highs and lows of each, rules for placing an ABC trade
• Slow markets – how to identify them and avoiding choppy conditions
• Atlas Line – current live/daily signals (good long trade)
• Trade Scalper – current live/daily signals (multiple good long trades)
To get both the Trade Scalper and Atlas Line as well as all of our other courses and software in one complete package, join our next Group Mentorship class. The next eight-week training program begins March 14, 2017. Click here for details.
In case you missed today’s live webinar with John Paul, here is a replay. He shared live signals for multiple trading methods, including the Atlas Line. Many attendees were on hand and asked great questions. Other topics covered include the At the Open (ATO method), Trade Scalper, ATR, ABC strategy, importance of having accurate Windows time, the BarTimer, trailing stops, interpreting candle patterns, and much more.
Remember, this coming Monday, Feb. 20 is when the next Group Mentorship class begins. If you’ve tried courses or strategies from other people and it didn’t work out well, now is the time to change up your plans. Students always tell us that our methods are unlike anything they’ve used before. Mentorship is a great way to get all of our strategies in one shot, plus coaching along the way for everything. This way, it’s ensured that you understand everything and all your questions get answered. To enroll, simply email us at [email protected] and we’ll get you going! If you want more info, click here.
What about the January Effect for 2017? Switch over to a daily chart and you’ll see January 2017 closed slightly higher than it opened. Therefore, the strategy says price will likely close higher in December 2017 and move up throughout the year. That means you can look for additional trades, based on retracements. We’re talking retracements of four or more daily candles. The opportunity is to go long when the market begins to turn around and go higher. The Fibonacci tool can help, but not in the way you’d expect. This drawing tool can show you when the market retraces back 50%. That’s your entry point. You can use this strategy for other markets, not just the E-mini S&P.
At about 18:27, you can take a look at the Trade Scalper signals. Note that the full version plots lines and regions to further guide your trading. The signals that you see here are the entries, long and short. If the ATR is below two ticks, the market is not worth trading with this method. The Trade Scalper uses a 1-min chart. At 19:00, John Paul walks through the settings for the Atlas Line. Because this webinar was conducted at market open, you get to see the first Atlas Line signal of the day. For the current market conditions, the Catastrophic Stop is about 12 ticks. Based on the Atlas Line’s long signal, John Paul takes a real-time trade at around 21:00. The lower half of the SuperDOM allows you to define an ATM Strategy, which is simply a predefined profit target and stop loss value. It saves traders the trouble of having to manually specify these values for every trade. Remember the ATO (At the Open) strategy? Jump to 25:00 to see the ATO signal for this morning. The ATO is an opening range breakout strategy. It, too, generated a long signal. Stick around and see what happens to the Atlas Line trade that was placed earlier. Always stick to the rules!
To receive all of the methods shown in this webinar and much more, enroll in the next Group Mentorship class. The next all-inclusive class starts Feb. 20, 2017. Click here for details.
As a trader, do not expect overnight success. It’s important to take your time, as questions, talk with your broker, and understand the risks, rewards, and learn as much as possible.
It’s always good to check for news events before placing a trade. We have a free news indicator for NinjaTrader 7 and NinjaTrader 8 that shows upcoming news events on your chart. You can also use the Bloomberg Economic Calendar to check for red star events. If an event is about to occur, then you probably want to hold off until the volatility subsides.
The Atlas Line produced a long (buy) entry signal at 2289.75. According to the ATR (Average True Range), current market conditions allow for a profit target of seven ticks. If the target is not hit, John Paul exits the market within a certain amount of time. On a 5-min chart, this time-based stop is four candles or 20 minutes. The prove-it stop gets you out when price closes on the opposite side of the line. The catastrophic is always present – it’s about double the ATR as a safety net and to allow for normal market fluctuations. What happens if a trade does not go your way? A Strength Trade, Pullback, Bounce, or even another Double Bar entry can provide additional opportunities. This is all just the Atlas Line. Other strategies we teach help you filter Atlas Line trades and add to the amount of possibilities that appear when you look at a chart.
Interested in the Atlas Line? Get a lifetime license along with all of our other courses and software by enrolling in our Group Mentorship class. This next class begins Feb. 20, 2017. Eight weeks of coaching are provided. Click here to find out more.
For those who missed it, here’s the webinar from earlier today!
• Free trading tools that will help your trading
• Yo-Yo Setup
• Importance of using 5-min charts
• Understanding 5-min charts
• How to recognize trends
• How to use the ATR to adjust profit target and stop losses
• How to read the DOM
• The Trade Scalper software (signals from today)
• The Atlas Line software (signals from today)
• E-mini vs. the 6E Euro FX market
• January Effect for 2017
Get the full training – join the next eight-week Group Mentorship class. Class begins January 31. All courses and software are included. Click here for details.