In this two-part webinar, John Paul from Day Trade to Win takes traders on a tour of price action concepts. First, he begins with a review of the Trade Scalper trading course and software for NinjaTrader. The indicator accurately plots signals on 1-min futures charts. As a result, traders take these trades and hope to make profit by following the exact rules. Because there are a few rules to follow, live training is provided. The Day Trade to Win team does its best to make sure traders understand price action. This is true for all of the courses and software they offer.

Day Trade to Win on Phantom Orders and Volatility

How do you handle markets that are too slow or fast? The ATR (Average True Range) provides an indication of volatility. Reading the ATR will differ between Euro charts vs. E-mini S&P charts. For example, the Euro will require you to move the decimal point over a few spaces. In addition, news events can also change volatility – causing sudden spikes and trends in some cases. On the Bloomberg news calendar, watch out for red star events, as these are market-movers. Also, look for any Janet Yellen Fed Chair announcements. These, too, will cause the market to shift, even if they are marked with a lower priority. Day Trade to Win offers a free news indicator for NinjaTrader and calendar for keeping track of upcoming news.

Buy and sell orders on the DOM – you’ve probably seen them fluctuate, but can you trust them? No, they’re phantom orders. They’re not waiting to be filled. If you have a large account, you can put 30-40 contracts to sell or buy, and as soon as the market reaches that area, then remove them. This luring of small-time retail traders is dangerous. And in most cases, algorithms are responsible. This is why the strategy of tape reading is no longer effective.

ABC Strategy

Clean charts are the way John Paul trades. To apply the ABC strategy, you can divide the chart into three sections. The first is session start, from 9:30 a.m. to noon. Generally, this period has the most action. The market wakes up and the banks, hedge funds, etc. make moves. The ATR increases. When price breaks out of this A period and surpasses previous highs or lows, expect an entry opportunity. This next session is period B, and it extends from 12:00 (non, US/Eastern) to 14:30 (2:30 p.m., US/Eastern). The market behaves differently during this section than the others. Expect to see choppy activity much more often than distinct trends. As you may have guessed, the final C section begins at 14:30 and lasts until market close.

By mastering this free trading method, you will be able to look for setups using nothing but price and time. This same approach is what sets Day Trade to Win apart from other trading educators and coaches.