Did you take a look at where price ended up at the close of January 2017? Price closed slightly higher than it opened in the month. According to the Jan. Effect, price is expected to close higher for the year. This can provide for additional trading opportunities as price drops and then climbs to new highs throughout the year. To take advantage of these trades, use a daily chart. Look for long opportunities when price begins to retrace beyond 50% of the previous drop. This 50% level, identified with the Fibonacci tool, is your entry point. These Jan. Effect retracement trades also work with markets other than the E-mini S&P.
In the video, John Paul shares signals from the Trade Scalper software for NinjaTrader. Some of the visual aids (lines) are not shown, as they are only provided in the full version of the Trade Scalper. However, the basic Long and Short entry signals are exactly the same. For this method, when the ATR is under two ticks, the market is too slow to trade. A 1-min chart is used, so think fast, in-and-out trading.
After Jan. Effect, Real-Time Trade
At Around 19:00, take a look at the settings for the Atlas Line software. Remember, this is a recording of the live webinar, so all the attendees were able to see the first signal of the day provided by the Atlas Line. When using the Atlas Line, you see the exact same signals as John Paul and all the other traders see. You’re also taught exact stop strategies, such as the catastrophic, time-based, and prove-it stop. The current market conditions say the catastrophic stop should be worth about 12 ticks. At around 21:00, John Paul places a real-time trade based on an Atlas Line entry signal. NinjaTrader’s ATM Strategy feature lets traders use predefined profit targets and stop losses to simplify/expedite trading.
Remember the old ATO (At the Open) strategy? It’s a morning range breakout strategy that was the first course offered by DayTradeToWin.com. At about 25:00, an ATO signal is displayed. It’s always good when two or more methods provide a signal in the same direction.
Trading is not an overnight system to make money. It requires practice, patient, testing, and knowledge. Take your time, understand the risks, learn as much as possible.
John Paul can personally help you on your journey to become a professional trader. The next Group Mentorship class begins Feb. 20, 2017. All courses and software are provided with lifetime licenses. Don’t wait for another week or month to go by wishing you had taken the course. Click here for details.