Are spontaneous news events causing you big losses? Do you even know if that’s the reason for your day trading losses? It could well be. Scheduled financial news is typically released multiple times per week. When the medium or high-impact events occur, volatility can suddenly increase, causing a shift in the market in opposition to your profit target.
In addition, DayTradeToWin teaches a free news trading method you can learn and apply today. You’ll learn it by watching the video above. John Paul discusses the psychology of those who trade news events and common pitfalls. There’s a pop, people and systems jump in late, the market begins to go sideways, positions get reversed, and then there’s a significant move in the opposite direction. See the full, free trading strategy for 2021.
The video shows the Trade Scalper scalping signals for the day. He says that if you look at the winning percentages, you’ll be ahead of the game if you have a plan and know why you’re making every move. There are two ways to get the Trade Scalper: purchase it standalone or get it with the full eight-week Mentorship Program. Both options are covered on the DayTradeToWin courses page.
Has the following ever happened to you? You get a signal from your trading system – it’s go to long/buy. Now, you quickly have to place a trade. Fumbling, you click the wrong order type or put too much risk on the trade. If you cancel your orders and resumbit them, that means “back of the line” and you may not get filled. If only there was a way to reduce the headache and streamline the placement of orders!
…Well, in NinjaTrader 8, this is possible. We are big fans of the ATM Strategy feature in Ninja’s trading platform. The above video covers just about everything you’d want to know about how to configure an ATM Strategy. Of course, the video does not go into detail about what profit target and stop loss values you should use. That’s going to be up to you because you may be using a different method than the next person and so on. Therefore, it may behoove you to set up ATM Strategies pertinent to common scenarios you find yourself in.
With day trading systems, it is common to go for a certain amount of ticks or points. If your trading system is based on price action, you may use a dynamic (changing) value for the profit target and stop loss. That’s what they teach over at DayTradeToWin.com. As such, consider what your trading coach or course says. Configure the most common profit targets and stop losses according to the instructions.
If you prefer NinjaTrader 8’s Chart Trader rather than a SuperDOM, you can select preconfigured ATM Strategies from the same style of drop-down. Remember, to configure them, select Custom, which will bring up the configuration area. It’s also important to using a naming scheme that alphabetizes the various ATM Strategies. For example, “P4S8” describes to your mind a profit target of four ticks and a stop loss of eight ticks. A variation could be “P6S10” and son on. Get it?
So, hopefully we resolved some of your nervousness when placing trades. How does Benjamin Franklin’s expression go? ““An ounce of prevention is worth a pound of cure.” Successful trading is as much about risk management as it is finding winners – and sometimes, even more!
The support team at DayTradeToWin.com occasionally receives charts and videos from students/clients who use the ATO 2, Trade Scalper, Atlas Line, and other price action trading methods. When such media is shared, it’s easy to point out any mistakes being made by the trader. This is what happened here – a video from a student was provided. For the benefit of all, John Paul, founder of DayTradeToWin, provided commentary and described what he would have done differently.
The highlight of the video occurs around 1:43. That’s where the student places a real-time Long (buy) order based on the advisement of the Trade Scalper signal software. The historical data shows that multiple trades can occur intraday. In most cases, you won’t be holding a trade more than four or five candles. Remember, holding onto a trade longer only guarantees risk. The goal is to minimize risk and focus on signals that have the greatest chance of providing profit.
Of course, no trading method can guarantee profits. If that was the case, the trading method would have been made secret with its proprietors silenced, for they have figured out how to foresee the future, some pattern in nature, or mass scheme to make the data seem random. What a novel that would be!
Back on topic, the idea is to make the futures markets accessible to beginner traders. DayTradeToWin provides throughou details and multiple how-to tutorials/guides on almost every aspect of NinjaTrader. That’s why they’re a great resource for all experience levels. There are many veteran traders who switch over to NinjaTrader and can’t figure out the platform. After an hour-long tutorial video from DayTradeToWin, they’re up and running with a basic understand.
Market conditions don’t always allow for $100+ per trade. The 2020 Election and whatever else impacts the markets has increased the volatility. Does that mean you should abandon rationality to make some big money? Of course not. In fact, we’ve been saying for a while now that it’s best to use a 1-Minute chart instead of a 5-Minute chart as well as continue use of the ATR (Average True Range) to determine tradeability.
The recent January Effect video shows there are many great long trades. But what about those inevitable intraday price drops? What do you do with those? As seen in this video, the Atlas Line and Trade Scalper day trading signal systems have been effective in finding winning opportunities…
The real-time trade was worth +2.25 points. That’s nine ticks at $12.50 each, thus $112.50 with one contract. That may not seem like much, but if you have multiple winning moves per day and can afford to trade multiple contracts, there may be enough profit for you with commission covered. Let that be no indication of guaranteed performance. We have to state everything is hypothetical to comply with regulations.
NinjaTrader was designed with the intention of replicating conditions as closely as possible to live trading. In fact, when sim trading, you won’t be filled every time – just like in live trading. When practicing, you may want to limit the simulator account to less than the original amount of $100,000. Maybe drop that to something more reasonable like $5,000. This way, you can use the Trade Performance tool to get a sense of how it goes with the Sim101 account over a period of time. If that works for you consistently enough, consider trading with a live account and start off slow and carefully.
One of the most tempting and basic forms of trading is related to support and resistance. Have you ever drawn a horizontal line to connect a series of candles or price bars that group together as though they cannot pass beyond an invisible barrier? Have you done this to the short side and the long side?
Yes, identifying highs and lows, or tops and bottoms, or support and resistance, can be useful, but not as a primary trading strategy in our opinion. When coupled with a trading system like the Atlas Line or Trade Scalper, you can get clear direction on whether the market is expected to move high or low.
In past videos, you’ve seen how DayTradeToWin uses a price action approach to Fibonaccis, simply using the 50% value between a previous high and a low. When that 50% is surpassed, that can be the start of a longer (and hopefully profitable) long (buy) opportunity. But what if there was a way to immediately make sense of intraday price stalling? Yes, in the video in this post, you’ll see how John Paul’s use of price action Yo-Yo Bars can help you stay clear of choppy conditions.
The Atlas Line provided plenty of Strength (S) and Pullback (P) signals that were on point. Those signals and their manual calculation are taught in the included live training. Generally, if you see those signals, price is expected to move in a consistent direction instead of chop back and forth. Watch for such signals around those extended periods of price stagnation, such as the 35+ minute period shown in the video.
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.