John Paul from Day Trade to Win starts this video with a Short Trade using the Atlas Line software. How much profit and stop do you use for each trade? The first trade was good for one point, based on the ATR which was also near a point. The current trade’s profit target is 1.25 points. The stop is around 2.5 points. There are three stop strategies in mind that we went over in the last video. With the ATR hovering above one point, we know the market is worth trading. When you can look at nothing but price and decide to get in and out, you are trading using price action. It’s the most effective and easiest type of trading to learn. Everything you need is provided right in front of you on the chart. There is no guessing – it’s objective. The best time to trade is in the morning starting at 9:30 a.m. US/Eastern until about noon. However, you’ve probably seen many videos with the Atlas Line trading far beyond the open outcry session. Why 9:30 a.m.? When the CME opens, there are millions of orders placed by high frequency trading algorithms, hedge funds, professional and retail traders. In addition, financial news events, press releases and the U.S. daytime infrastructure really comes online during this period. As long as the ATR (with a period of four) remains between two and four points, you can bet the trading conditions are favorable. All you need at this point is an effective day trading strategy. There are many day trading courses at Day Trade to Win that focus on price action.
This past week has been very slow for E-Mini S&P traders. The only way to make a buck was to scalp the market. There’s no better time to learn how to scalp trade – luckily, the Trade Scalper Course is available once again.
The Trade Scalper’s scalping method is demonstrated here where the instructor enters the market for three ticks. This video is recent, showing three trades on November 3, 2010.
Trade Scalper students operate like this:
Trading without slippage, not moving stops or profit targets – keep them in place
They use a one-minute chart, get in and out of the trade quickly
They do not use market orders. Instead, they use limit orders to prevent slippage.
How much did you make trading the E-Mini S&P on November 3? Even after the elections, the E-Mini S&P is significantly less volatile as compared to even the summer months.
There’s a free Trade Scalper webinar scheduled for Thursday, November 11 from 7:00 pm EST to 8:00 pm EST.
Volatility can be a benefit and can destroy your trading day. That’s why traders should focus on winning a couple of points each day instead of hoping for the best-case scenario or holding out (not trading) until they feel there’s a 100% chance of it occurring. In trading, there are no guarantees. The trading techniques used in the At The Open Course show traders how to win up to four points each day while minimizing risk. In the video below, John Paul wins two points and then he’s done for the day; limiting the risk by discontinuing trading.