Remember, the training in this video does not even scratch the surface of the trading techniques taught in the eight week coaching program known as Mentorship. A new Mentorship class starts today, April 22, 2015. Click here to find out more. We can get you up and running today with the first week’s materials.
Do you make intuitive guesses or blindly trade without having defined trading plan? For starters, it’s important to be aware of upcoming news events. John Paul shows you where to get a news indicator that will show you times high-priority news events will occur. You can then avoid the volatile conditions these news events usually cause. After the news volatility subsides, you can look for a trading opportunity as discussed in this video. Remember the market is a zero-sum game, trying to create equality with buyers and sellers. There is no frequent correlation with positively perceived news driving markets higher or negative news creating bearish conditions.
The Atlas Line produced a short signal at around 10 a.m. EDT. Why? Two consecutive candles plotted below the dashed Atlas Line. Price soon headed short, creating favorable conditions for this trade. If price was to later close twice above the line, then you’d see a long signal.
We know how John Paul uses the ATR to determine the profit target and stop loss on the E-mini. What about the 6E (Euro FX)? At around 40 min in, you’ll see how he performs the calculation by moving the decimal points over.
Later in this recording, you’ll learn some very important advice about trading with ranges and the 0%-50%-100% Fibonacci tool.