When evaluating any day trading system, it’s important to look at multi-day performance. How did the system perform over multiple days? What about consecutive days? How big were the wins, if any? How big were the losses, if any? What’s the recommended trading account size? What markets can be traded? What is the underlying mechanism – price action?
DayTradeToWin.com’s Trade Scalper and Atlas Line price action day trading systems are seen in many day trading videos. We can see signals that promise to be the same as what a regular trader would see via their personal computer. Long and Short signals are equivalent to Buy and Sell, in trading vernacular. When a signal appears, the trader is supposed to follow the rules and place a trade. If the market is too volatile or too slow, it may be best to wait until conditions return to normal. This is one example of many. Fortunately, the rules for those two price action trading systems appear to be relatively straightforward.
Both allow customization of the signal text including color and size. This is especially useful if you’re older and prefer not to squint. The NinjaTrader platform allows dark and light charts. Some traders are colorblind, so offering the ability to change colors to contrast with background is very important and overlooked in indicator development.
On the bottom of the charts, you will see a gold-colored line. That’s the ATR (Average True Range) and included with many trading platforms, such as thinkorswim and Trading View. It should be configurable, allowing you to specify the time frame or period value for the primary “averaging” calculation. Four bars is recommended, as greater values consider longer periods of time. This depends on the type of chart in use, of course!