These rules can be applied to any market, including the E-Mini S&P, futures and currencies:
1. Positive news doesn’t guarantee that market price will rise.
2. Negative news doesn’t guarantee that market price will fall.
3. Only act based upon the advice of a price action trading method, in this case, the Atlas Line.
John Paul from DayTradeToWin.com shows us why he went SHORT despite positive news that affected the E-Mini S&P market. On December 6, 2010 (late evening), Obama announced a tax cut extension, rallying the market during the night trading session. As the market started to come down from the rally, the Atlas Line produced a short order signal.
Now that we have entered the trade, how do we exit? In the video, John shows us how to use the ATR (Average True Range) to decide based on profit target. The greater the ATR (range), the greater the potential profit. The ATR NinjaTrader tool should be used to dictate your profits. Trade within the bounds of price action, not your emotions.
Here’s a video summary of yesterday’s live day trading Atlas Line webinar from DayTradeToWin. The Atlas Line is a proprietary indicator that tells traders when to go long and short. A long order signal was given by the Atlas Line early in the morning for the E-Mini S&P. See how this order paid off with price above the Atlas Line the entire morning, with a big margin for earning points. Crude Light, the Australian Dollar, and the Euro Currency markets all were excellent trading days when coupled with the Atlas Line, also shown in the video.
Day Traders start your engines! A new course in trade scalping teaches you how to make a few ticks within a few minutes time and getting out. I tried it out myself. As I was taking in the profits, I could picture myself as a cobra waiting….waiting… then striking quick and hard, then withdrawing before I could get hurt. The course: TheTradeScalper.com made by highly successful emini sp day trader John Paul, is helping me to maximize my profits while minimizing my losses.