Yesterday, we posted a video of some great ATO 2 and Atlas Line signals. Here’s another video showing another set of great long trades. Today’s signals appeared at approximately 10 a.m. EDT. Once the related bar closes, a signal appears. At that point, the idea is to place a trade as quickly as possible based on the rules of the trading system. One of the quickest ways to enter a position is via a market order. Of course, you can use a pending order (e.g. a limit order) ahead of time, if you want to be prepared early.
Was today a trending day? It looks like it. We traders really like trending days, but they’re pretty rare. Unfortunately, it’s more common to see choppy activity or short periods of time where price fluctuates from bullish to bearish. The goal is to come out ahead at the end of 30, 90, 180+ days. Of course, practicing with a live, simulated account at first is a great idea. Jumping into live trading with real money without much preparation can be a recipe for failure.
Some of the video covers how to install indicators into NinjaTrader. An indicator can be considered a trading system. We like to think that a trading system is an entire strategy of how and when to place a trade, how to manage it, and when to get out (at a profit or loss). Indicators can also be very simple. The free indicators provided by NinjaTrader do not provide trading signals. However, the ATR and Bar Timer can be very helpful in timing orders and gauging risk.
Backing Up Your Trading System
What do you do with indicators after importing them? We recommend keeping them in an accessible folder or backing them up in a secure cloud account. In the event you get a new computer or a hard drive replacement, you’ll probably want to restore your indicators as quickly as possible.
Some folks are busy working day jobs and cannot practice trading from 9:30 a.m. EDT to noon. This is considered one of the best times to trade. If you can’t leave your day job or install software on your work computer, how can you practice? NinjaTrader has a feature called Market Replay that lets you download market data and replay it as though it’s occurring live. This feature is also called Playback.