Let’s look at two day trading systems and see how they compare. The NinjaTrader platform is in use. The chart type is a 1-Minute E-mini S&P 500 (ES in NinjaTrader). Both techniques use price action. Price action means trading based on how price moves across the chart; e.g. various patterns, levels, etc. are recognized and reached, thus causing the next set of decisions to be made by the trading software and/or day trader.
First, we look at the Atlas Line. In the beginning of the video, the Atlas Line is represented by the blue dashed line and Atlas Short signal. The short signal appeared because the Atlas Line recognized two candles closed below its dashed line. It notifies you this occurred via the short signal text. Likewise, if we had two candles close above, a long signal would appear. See, you’re getting the hang of it already!
At the 52 second mark, we see an explanation of the Trade Scalper signal. Why is the full method not explained? Because it’s a valuable trading method. You have to purchase it from the DayTradeToWin.com website. Rest assured, when you’re using the indicator, you’ll see the same signals as everyone else with the same basic chart configuration. The included live training video, live training, etc. help ensure a complete understanding.
With scalping more than the other methods, it’s important that you place an order (trade) soon after the signal appears. If you wait around too long, price can easily move beyond where your profit target would have been and you probably don’t want to chase a missed opportunity. Instead, it’s recommended that you pre-configure profit targets and stop losses via NinjaTrader’s ATM Strategy feature. After configuring the most common values, you will be able to quickly select the best profit target and stop loss for current market conditions.