If your computer clock is off by mere seconds, you could experience unwanted behavior in your NinjaTrader 8 trading platform. The NinjaTrader 8 software “grabs” the current time from your computer clock. In turn, the indicators running within NinjaTrader reference that time or schedule operations accordingly. For example, if the Bar Timer indicator is running on a computer with an incorrect Windows 10, the Bar Timer may fail to countdown and could remain at zero.
In an ideal situation, your Windows 7, 8, or 10 version should automatically recalibrate (sync) with official time servers on a regular basis. This is supposed to be done by the operating system automatically every once in a while to correct any “drift” in time caused by, well, physics essentially as related to the battery on your computer’s motherboard. The official time servers are maintained to ensure great precision. You can check how “off” your computer clock is with the official time via https://time.is. Note that this is not an official time server, though it is frequently used to gauge computer clock accuracy. When time.is recognized your time is pretty much exact, it will tell you so.
Fortunately, there is an easy fix to the Windows time inaccuracy issue. We will go over instructions on how to set up a shortcut you can use every couple of weeks to manually correct/update the time.
Right-click the Windows Desktop and select the option to create a new shortcut.
For the location, type in timedate.cpl. Make sure there is no trailing period if you copied the text from here. Proceed forward and give the shortcut a name, such as Time Sync.
Now that the shortcut is created, you’ll need to perform the remaining steps every two weeks or so to correct time drift. Double-click on the shortcut.
Click the Internet Time tab a the top. Then click Change settings.
Click Update now. It’s actually normal to see a failure message. When this occurs, select the other time server and try updating again. Repeat among the time servers until success occurs. Upon success, close out of the time area. Wait five minutes for the time to “permeate” the Windows OS.
If NinjaTrader is running, restart it.
Optionally, visit https://time.is to confirm your computer clock is now accurate.
Here’s a question that may confuse you at first: what do you not know that you do not know about trading? The unknown may be your biggest downfall. In this two-part video series, John Paul from DayTradeToWin.com endeavors to clarify common trading misconceptions. The general approach is price action. This means letting a chart’s price movement tell you when and how to trade.
By using the ATR (Average True Range) as an indicator for volatility, profit target, and stop loss, you can mitigate some risk. How? The ATR with a period setting of four gives you a picture of the average price variation for the last 20 minutes when a five-minute chart is in use. If you use this value to determine each trade’s win and loss settings (profit target and stop loss), you can mitigate some risk compared to those traders who use large, fixed values. We prefer an adaptable approach because price is always shifting. Tune in to the first video at 5:50 for an explanation in conjunction with the Trade Scalper. If the ATR is above five points, that’s considered too fast. If below one point, that’s considered too slow. There are exceptions and ways to trade really volatile conditions. Those approaches have been shared in recent videos.
Do you know how to quickly measure the points and ticks between two points on the chart? NinjaTrader 8’s ruler tool is useful. Select it from the drawing drop-down (click the pencil at the top of the chart). Next, you’ll need to click three points on the chart. The first is the start point. The next is the end point. The last is the point at which you want the measurement to display. Practice by measuring the distance between candles. You can quickly determine price ranges this way.
DayTradeToWin offers a free trading news indicator. News events can take a trader by surprising and plunge them into big loss territory in a jiffy. Wouldn’t it be better to know when a planned news event is going to happen so you can stay out of the market? The news indicator plots upcoming, scheduled news events directly on the chart. You can customize the number of displayed events. You may want to change it to five or so as the default value can take up much vertical space with overlap.
John Paul expects the E-mini S&P 500 to go up overall during the remainder of 2020. He explains how to find long (buy) opportunities once price exceeds a specific 50% level. He explains later how this long bias can be used intraday in combination with other signals, such as those from the Atlas Line and Trade Scalper. Use a daily chart to see recent highs and lows. You can configure the Fibonacci tool to draw three horizontal lines. The middle line is the 50% line. Look for retracements above the 50% mark to previous highs. Watch for situations where the market may stagnate or pause for one or more months on approach to higher levels. The specific midpoint value is defined as 2,782.
Sometimes traders can make mistakes due to too many historical order text displays that appear near the candles. If you place many orders in NinjaTrader, your charts can become cluttered with this order text. You can remove all the order text and disable it from occurring again by right-clicking the chart > Data Series > scroll down to Plot executions and select the “DoNotPlot” setting.
Another common point of failure is subjectivity. If you are using a trading system that allows for too much interpretation, the guessing aspect can lead to big losses. We prefer to stick to objective rules and follow those rules closely. This way, we avoid temptation of risking too much or staying in a trade for too long. The Trade Scalper is one such trading system that has concrete rules. Watch all the buy and sell signals that appear.
Indeed, a 2.25 point winner occurred with five contracts in place. With the E-mini S&P 500, each tick is worth $12.50. A point is considered to be four ticks. Therefore, one point equals $50. If you take the 2.25 points and multiply that by $50, you get $112.50. If you trade five contracts, multiply by five and you get $562.50. Remember, we are describing theoretical profit before any broker and/or exchange fees. Before trading, speak with a financial professional and a broker to see if trading is right for you.
Traders can also get tripped up when they enter trades too late. For many systems, the Trade Scalper included, it’s important to place the trade as soon as possible after the signal appears. In most cases, you will have to wait for a certain condition to occur before the rules of the method allow an action. Wait too long and the market could take on a new personality. If you are too greedy, “forcing” an entry may cause significant loss. Hopefully, your trading method accounts for timing. You may want to preconfigure commonly used profit targets and stop losses using the ATM Strategy feature within NinjaTrader.
Did you miss the live trading webinar video? As you know, most traders sit in and watch the signals happen in real-time. So, John Paul goes into the details and answers questions from the audience. Watch the replay below. The webinar, which took place on 22 November 2019, is recent. The presentation begins with a general description of John Paul’s markets.
So, if you missed the live webinar video on Friday morning here is your chance to review the trades taken, the questions and answers are given, and the explanations of the webinar for each trading were over an hour broken down into three parts.
This is provided for Part 1: Order forms, Phantom Orders, Live Market Scalper Orders, Questions, and Responses. While part 2: Phantom orders, Atlas Line Live Trade, Trade Scalper Live Trades, Filtering Trades, Q & A