New Blueprint Method From DayTradeToWin
John Paul of DayTradeToWin has been fond of the 5-Minute and 1-Minute chart types for a number of years. When the 5-Minute chart is too volatile, he often recommends using a 1-Minute chart, as this causes the profit target and stop loss values to decrease, as they are based on the ATR (Average True Range) But what happens when even the 1-Minute chart is too volatile? The next logical step-down for a time-based chart is a 30-Second chart. And that’s exactly what he’s using here with the brand new price action Blueprint trading software…
The Blueprint software draws shaded regions as well as short (sell) and long (buy) signals. The shaded regions represent areas where price has been range-bound. The underlying price action (behind the signals) correlates these areas with opportunities. When certain conditions are met, a signal appears. A red region does not always precede a short signal. Likewise a green region does not always precede a long signal. With the included training video and live training, you will learn how to maximize the potential of the method.
In this case, he is using only one contract. Remember, when trading the E-mini S&P 500, one point of profit equals $50 before any fees. Using a five-contract profit scenario, the $50 is multiplied by five and becomes $250 (again, before any fees). If you trade the Micro E-mini (MES), the values are 1/10th that of the regular E-mini. Thus, the Micro presents an opportunity to experience real-money trading with a lesser financial impact, positive or negative. This can be valuable for traders who need to overcome the pressures and other psychological aspects of having real money on the line.
When using a fast time frame such as 30 seconds, the trade can be done and over with rather quickly. Yes, you could consider this scalp trading. However, if you look at other Blueprint videos John Paul from DayTradeToWin has released, you will see the new Blueprint method is quite versatile; in fact, it can be used for swing trading via hourly or daily charts. In other words, you could hold a position for hours or days if your trading account supports such activity. You may also be impressed to find out the Blueprint works with volume, Renko, and range charts. Again, the included training describes when these other chart types may be preferable.