First, take a look at the Atlas Line price action indicator for the NinjaTrader 8 trading platform. The line itself is pink. In this case, it’s used on a 1-minute chart. On this particular day, the E-mini’s price action caused the Atlas Line to give two main signals: a Long and a Short. John Paul draws a box around the short signal. The indicator can be used as a long-term directional tool. Notice how price stayed below the line for the remainder of the day. In such cases, taking short trades is advised. Additional trades are provided as Strength (S) and Pullback (P) signals.
At 1:53, another price action indicator is shown: the Trade Scalper for NinjaTrader 8. This price action scalping indicator plots Long and Short signals based on price patterns. You won’t have to worry about identifying the price patterns yourself – the indicator does this automatically. Your job is to place the trades using the SuperDOM or Chart Trader. We recommend that you preconfigure multiple ATM Strategies so you can use the best one quickly when you’re ready to place a trade.
At the time, the ATR (Average True Range) indicator was indicating that we could go for 3.5 points of profit. Yes, we let the market dictate our risk. This is partially due to the idea that the stop loss must be large enough to absorb inevitable fluctuations. Traders who use stops that are too tight may be stopped out prematurely and such things may be costly if repeated. According to John Paul, the scalping trades shown were worth about two points of profit each.
It’s important that you stay up to date with trading holidays planned for 2020. Big markets like the E-mini S&P 500 and others within CME Globex observe odd holiday hours. Therefore, take note of the following early closures, halts, etc. Avoid open positions before an early closure. Also, expect extra or reduced volatility around holidays. The following hours are for CME Group equity index products. You will want to check the CME Group website for other markets/products.
Dr. Martin Luther King, Jr. Day Jan. 20, 2020: HALT @ 1 p.m. ET
President’s Day Feb. 17, 2020: HALT @ 1 p.m. ET
Good Friday Apr. 10, 2020: CLOSED
Memorial Day May 25, 2020: HALT @ 1 p.m. ET
Independence Day Jul. 4, 2020: CLOSE @ 1 p.m. ET
Labor Day Sep. 7, 2020: HALT @ 1 p.m. ET
Thanksgiving Nov. 26, 2020: HALT @ 1 p.m. ET
Christmas Dec. 24, 2020: CLOSE @ 1:15 p.m. ET Dec. 25, 2020: CLOSED
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