Advanced Trading Techniques & Tips for Beginners
Want to see recent Trade Scalper signals right away? Watch the first video, which is part of the “Advanced Techniques You Don’t Know” live webinar recording. Under normal E-mini S&P 500 market conditions, when the ATR (Average True Range) period value is set to four, the ATR should be between one and five points. If below one point, the market may be considered too slow. If above five points, the market may be too fast. Yes, it’s still possible to trade when markets are too fast. Take a look at other recent trading videos to see how that has been handled.
A 5-Minute chart is often preferred because it presents a nice picture of price action. Traders use 10, 15, 30, and 60-Minute charts frequently. Using a smaller time frame that divides these greater time frames evenly allows traders to spot opportunities potentially missed at larger scales. At times, John Paul will use a daily chart to check recent highs and lows. By placing a Fibonacci tool with three areas defined: 0%, 50%, and 100%, this allows the identification of the midpoint (at 50%). When price exceeds the 50%, that can be used as confirmation to look for long trades intraday. Traders can then use trading systems like the Atlas Line, Trade Scalper, and ATO 2 to look for long signals that further confirm the anticipated price direction.
If you are ever looking to measure distances or price between two points on the chart, use NinjaTrader 8’s ruler tool. Located in the drawing menu at the top of the chart (look for the pencil icon), the ruler is placed via three clicks. The first point or click defines the start. The next is the end point. And the last defines where the measurement is displayed (usually away from the candles). The ruler is easier than using the crosshair with mental math.
Have you ever been in a trade to have price suddenly take off in another direction against you? Such activity may be caused by news events. Traders should heed scheduled financial news. A number of websites exist that present such events. However, it may be easier for you to use the free trading news indicator offered by DayTradeToWin.com. The indicator plots news events scheduled for the current week. Note that on Fridays, you may see few, if any news events. The indicator tends to refresh itself on Sundays or Mondays. Keep in mind that major non-scheduled events can still impact market activity.
Overall, John Paul expects 2020 to be an up year for the E-mini S&P. Specifically, he provides a midpoint value of 2,782. With your own knowledge of trading risk and disclaimers, look for buying opportunities as presented in the video. Want to learn more? Enroll in the next eight-week Mentorship Program. All courses and software are included with Lifetime Licenses.