DayTradeToWin Reviews

With several months of great January Effect trades behind us, many traders are concerned about opportunities as we head into the slower late summer period. Traditionally, we have seen E-mini volatility drop to almost untradable levels on a regular basis. When the market is too slow, it can stall and chop back and forth. That doesn’t make for good trading. There’s not much an intraday trader can do about it. Some traders prefer to taking the swing trading approach, which usually requires remaining in a position for several days, hoping for a profitable turnaround.

What’s the solution? That’s where the January Effect comes in. This strategy has you hold trades for multiple days (aka swing trading). Yes, this type of trading is not suitable for everyone, so check your broker and a trusted financial advisor. John Paul has seen winning trades over the course of two or more days in recent months. We’re talking big moves. Once you’ve established the January Effect exists for the year, the trick is to know when to enter.

Swing Trading Method Explained

The entry technique is demonstrated in this video. In short, he’s using the Fibonacci tool in an unconventional way. Only the 0%, 50%, and 100% values are plotted. By stretching the tool between two price values, it’s easy to see what halfway (or 50%) is. The halfway point is the entry. But where’s the halfway point? Remember that the January Effect says the market is expected to close higher in December. This usually means prolonged bullish periods. Of course, you’re going to get some bearish moves. After one of these downward moves, look for the recent highs and the low. Wait for price to retrace to 50% and that’s your entry. The video explains it much better, so be sure to watch.

John Paul can personally go over this swing trading technique with you and over 10 others in his personalized trading school. Mentorship includes all courses and software with lifetime licenses. He’s starting new classes all the time. In case you work in the afternoons, the one-on-one program can be customized to meet your schedule.

Looking for a free trading method to provide an edge to your trading? Watch the latest video from DayTradeToWin.com. Learn about the free January Effect strategy, fully described in the video below. The method pulled massive trades in the last few months. As the method states, price is continued to move up by the end of the year. This means we may be looking at continued big winning moves.

Here’s what I’m talking about:

• March 2017: +18 to +40 points
• May 2017: +18 to +30 points
• June 2017: +17 to +24 points

Will July continue the consistency? Watch the video to see John Paul’s prediction. Of course, no trading method can guarantee profit. These are educated guesses based on past performance, which is not indicative of future results. When holding positions over multiple days, your brokerage account may require more funding due to the additional risk. Check with your licensed broker and a financial expert to see if this style of trading is a good fit for you.

The easiest way to describe the January Effect is this: if January closed higher than it opened, expect price to also rise throughout the year for a higher close in December. To see if the January Effect applies, you’ll have to at least be in February and look back on the last month. Of course, we now have the advantage of looking back at half the year to see if this strategy was successful in finding trades. How can the January Effect be used to find trades? Well, if the rule is active and states price is expected to climb, look for periods where price has fallen. Get in on the way back up (the retracement).

Free Trading Method Explained

In addition, John Paul says it’s best to enter halfway on the way back up. He uses NinjaTrader’s Fibonacci tool to find the 50% level. The 100% level can either point to the recent high or recent low. Once you’re in, it may take several days for price to approach your profit target (near the most recent high). Again, the trade may go against you, so watch the video or email John Paul with questions about stop loss and mitigating risk. Pretty simple for a free trading method, right?

Finally, if you want a complete picture of all the DayTradeToWin courses and strategies beyond this free trading method, check out the eight-week Mentorship Program. The next class date is posted here. All courses and software are provided with eight weeks of live training. Each session is recorded. In the future, you can always log in and play back the recording. You’ll learn 10+ techniques to find and filter trades in futures and currencies, including the E-mini S&P. There’s never been a more exciting time to trade, and the Mentorship Program can provide the insight and confidence you need to make trading an enjoyable and successful experience.

 

NinjaTrader 8 is one of the leading day trading software programs available today. The platform can empower regular people like yourself with the ability to directly interact with the markets. Want to download NinjaTrader? First, navigate to ninjtrader.com. In the download box, type in your email address and click the button. Within a few minutes, you should receive an email from NinjaTrader with the download link and other instructions. Once NinjaTrader has been downloaded, with your browser still open, use Ctrl+J on your keyboard to view your downloads. Click the NinjaTrader application. In most cases, this will be setup.exe. In this video, the installer was directly downloaded, so the instructions may look a little different. The installer should open. If the installer shows a .NET Framework error, that means you need to download the .NET framework. In this case, you should probably contact DayTradeToWin support for NinjaTrader installation assistance.

The default installation directory should suffice. Avoid installing to other hard drives, as this may break things later on. Once NinjaTrader is installed, desktop shortcuts will appear on the desktop. We recommend using the 64-bit version, as this will take more advantage of your computer’s resources, and thus possibly run faster. If you have an older computer, only the 32-bit version will be accessible via a desktop shortcut. Double-click the shortcut to launch NinjaTrader. The first time NinjaTrader opens, you may be asked to let it through your firewall. Allow the exception because NinjaTrader needs to connect to the Internet in order to receive market data. Also, if you are asked for connection details, click Skip. It’s best to set up the connection (aka data feed) later. The data feed is what allows you to connect to the markets and receive live data on your chart.

If at some point you want to uninstall NinjaTrader, the process is quite simple. In Windows 10, click the Start button in the bottom-left corner of the screen. Begin typing “uninstall” without quotes. Windows should show “Change or remove a program”. Click that option. Find NinjaTrader on this menu and continue with the options to uninstall. If you want to download NinjaTrader, just follow this post all over again.

To get the most out of NinjaTrader 8, you will need a data feed. Why? Without one, you will be limited to using historical data, that is, market data that has already occurred. You will want live, incoming data to practice with because it’s very close to the experience of live trading with real money. Presently, free data feeds are offered for two categories of markets: futures and forex. DayTradeToWin recommends futures trading, as forex is less regulated and can be subject to increased manipulation. Getting NinjaTrader 8 data is not as straightforward as it may seem, hence this guide.

After installing NinjaTrader for the first time, NinjaTrader will ask if you’d like to set up a data feed. We recommend skipping this step. Why? Firstly, you probably don’t have a data feed yet. You’ll need to contact DayTradeToWin for a NinjaTrader data feed. Secondly, if you go forward setting up the data feed here, NinjaTrader will configure the feed to connect while starting up. This can hang or slow down the program’s launch time.

Once the main NinjaTrader Control Center window appears, you can set up the data feed. Go to Connections > configure. Select the data feed provider from the left list. You will probably use NinjaTrader Continuum or CQG. These are equivalent and the only two providers offering free, real-time data feeds for futures. Double-click NinjaTrader Continuum. Notice how the connection is now in the bottom-left panel and the right panel is accessible. In the right panel, configure the data feed to use the provided user name and password. Be sure to check the Demo box. Uncheck “connect on startup.” Click OK. Congratulations, you have successfully set up a data feed. Note that this data feed will probably expire in about two weeks. At that time, you can open a live account or check with your data feed provider to see if another two-week demo feed is available.

NinjaTrader 8 Data Feed: Next Steps

You will need to connect to the NinjaTrader 8 data feed every time you launch NinjaTrader. To connect, go to Connections > and connect to the previously configured data feed. Look in the bottom-left of the control center. There should be a circle icon. While connecting, the circle is yellow. When connected, the circle is green. Give the data feed a few seconds to connect. Upon connection, you should hear a sound. If you ever receive an error, your two-week data feed has probably expired.

With your NinjaTrader 8 data now successfully configured and connected, you can open a chart, a Dynamic SuperDOM, or any other feature of NinjaTrader that uses real-time data. You will also be able to place practice trades using a built in practice account, which NinjaTrader calls Sim101. To gauge your success, use the Account Performance tool available in the New menu.

Many students ask us how to open charts in NinjaTrader. It can be easy to forget considering all the bells and whistles included in the NinjaTrader 8 platform. Charts provide a visual depiction of price movement over time. They are the most powerful trading tool you’ll use. After you connect to a data feed, the next thing you’ll probably want to do is open a chart. To open a chart in NinjaTrader, go to New > Chart > select the desired market e.g. (ES aka E-mini S&P) > configure the chart settings in the right panel as desired, e.g. Type: Minute, Value: 5, Days to load: 14 > Click OK. A chart should appear. 

Providing you are connected to a data feed and the market is open, you should see price movement on the chart. Look at the right price column, and there should be a price label that’s moving up and down the vertical price axis. On the bottom of the chart, take a look at the time axis. You can drag the slider to go back in time all the way to the “days to load” value. If you want to go back to the current plotting candle, click the black triangle in the upper-right corner. Zoom in and out of the chart by clicking and dragging either axis. Most often, you will be zooming in and out by clicking and dragging the time axis. In case your chart gets too messed up, you can reset the view by clicking the small F button that appears in the upper-right corner of the chart. We call this the “focus” button.

So now that you’ve learned how to open charts in NinjaTrader 8, what about changing the chart color? That’s easy to fix in NinjaTrader 8. Go back to the Control Center > Tools > Options > Under General, in the right panel, look for Skin. Change the skin to a different setting, e.g. Light > click OK and restart NinjaTrader. The next time Ninja loads, you’ll get the new skin color.

After You Open Charts in NinjaTrader

We have a few recommended chart adjustments. Instead of using the regular mouse pointer, switch to a crosshair. Go to the top of the chart > click the button that looks like a mouse cursor > select Local. With the crosshair, you can better gauge candle position and read price and time values accurately. Two buttons over to the right of the this button, change the Chart Trader setting to Chart Trader (Hidden). Chart Trader is a tool that lets you place trades directly from the chart. It’s a bit simplistic. We prefer using a SuperDOM, which offers better control over the type of trades you place. The reason why we recommend enabling Chart Trader, is that when combined with an ATM Strategy, you can see and adjust your trade’s profit target and stop loss directly on on the chart. You should also add a date display to the chart. To accomplish this, right-click the chart > Properties > check Show date range > Click OK. In the upper-left corner of the chart, you’ll see the current date based on the chart’s scroll position.

Want to learn how to open charts in NinjaTrader for other markets? Repeat the same process, only select another market besides the E-mini.

To switch between time frames, go to the top of the chart where it says 5 Minute and click the drop-down box. The chart types are listed in the left column and various value settings are listed on the right. Even if you use a 5 Minute chart, a day chart is useful for seeing if the week or multiple consecutive days are showing an up or down trend.

To open a SuperDOM, go to NinjaTrader’s Control Center > New > SuperDOM (Dynamic). The dynamic version is free to use; the Static version is not. Learn how to use NinjaTrader’s SuperDOM.

A plain chart with nothing on it can certainly tell you quite a bit about the market. However, for most traders, it’s not enough. Most traders want to add special software, called indicators, to a chart. Indicators usually provide visual markers, signals, or other advice to guide your trading. Not all indicators are created equal. Some can be misleading or not applicable to the type of market you’re trading. Many use formulas to try to find support and resistance levels. In any case, NinjaTrader includes around 100 of them by default. To add indicators to your chart, right-click the chart > Indicators > find the desired indicator in the top-left list > double-click it > notice how it’s now in the bottom-left box (indicating it’s active) > configure the indicators settings in the right panel as desired > click OK.

As mentioned, there are many indicators and it’s not always clear what their purpose is or how to use them. We recommend the Bar timer and the ATR (Average True Range). The Bar timer lets you know how much time remains in the currently plotting candle. If you’re on a 5 Minute chart, the Bar timer will count down 5 minutes at the start of when a new bar appears (or opens). The bar will close when 0:00 is displayed. The Bar timer is useful for timing your actions with the trading strategies taught at DayTradeToWin.com.

The ATR is useful because it averages the price activity over a specific period of time (the indicator’s Period value). We use a Period of 4 which tells the indicator to use the last four bars in its calculations. The ATR can indicate how volatile a market is. The higher the ATR, the greater the volatility. Watch this NinjaTrader trading video to learn more about the ATR.

After you add indicators, you can optionally delete each indicator file (a .zip file) that each one was installed from. In most cases, it’s best to put the indicator download/install file into a folder for safe keeping in case you’re setting NinjaTrader up on a new computer in the future. Indicators are created from within NinjaTrader using the NinjaScript programming language. NinjaScript is basically C# with direct access to NinjaTrader’s programming. NinjaTrader 8 has really opened up creative possibilities for indicator programmers.