If you want to get the same signals, purchase the Trade Scalper here.
Could you afford your lifestyle by trading two to three times a day only? Or is it better to take a dozen trades just because your trading system says so What time of day is best or how can we filter losing trades for better results?
These are questions you probably asked yourself if you’ve been day trading or practicing for some time. Firstly, avoid closing time or the afternoon where the market can behave more erratically than normal or become too slow. Note that the chart time in the video is US/Eastern (EST). Also, consider incorporating a time-based stop. No matter what, if a certain amount of time has passed, be ready to get yourself out of the trade. Hanging in a trade for too long out of desperation or misplaced confidence can be an expensive play. Take advantage of NinjaTrader’s ATM STrategy feature so your predefined stop loss and profit target value(s) are automatically used. And no, you should not take every trade that your system/indicator produces. Typically, trading systems will continue to produce signals in less than optimal conditions. This is where your training comes in, or at least if you’re one of our clients.
Jump to 58 seconds into the video to see four consecutive winning Trade Scalper signals. And then around 2:00, see the fifth Trade Scalper trade of the day for demonstration purposes. Keep in mind, you may not want to trade five times per day. If you have success and made a decent profit with the first couple of trades, it may be better to minimize risk and walk away with your wins. At 3:17, you’ll see the sixth trade of the day. Yes, there was still time to trade (slow afternoon conditions had not yet occurred). Again, you may not want to take that many trades.