If you were trading the Emini today, hopefully you got in for the long haul or used a strategy that could deal with the chaotic movement. Those of you using NinjaTrader’s DOM could see how rapidly price was dropped. At times, price fluctuated four points in less than a second. In recent months, it was taking over an hour for price to climb or fall four points. The SP credit rating has truly affected how traders are perceiving the economy.
Here’s an example of how the Atlas Line from Day Trade to Win handles volatile days. John Paul, day trading coach, acknowledges that some days are just not meant for trading. He explains how the ATR can be used to determine the best time for trading and how it can be used in combination with the price action trading tool, the Atlas Line.