Hello I'm Ed, here with my simple plan for day trading the futures market using my single,
one-of-a-kind Indicator for Ninjatrader 8 Range charts.
Successful day traders typically follow a defined Style, guided by a Trading Plan with written rules to master and implement. Following the rules exactly, using real money with live data, can get real results.
What Plan and what Rules do you follow?
My very first mentor taught me that the best way to trade is from the ends of prices, never in the middle. To go short, get in at the highest price possible. To go long, get in at the lowest price possible.
So, let's look at the rules that make my “Always Play The Ends" trading plan so effective.
First, we identify the highs and lows by setting the Ed's Retrace Plan (ERP) minimum price move to a strength of 9, on a 4-range chart.
Our second rule applies the ERP Indicator to the prices in that minimum move defining the Retrace Zone that you can now easily track for placing trades.
Our plan is completed with rules for Price Percentage Levels, Price Zones, and Trigger Price Boxes that make this system work so well.
To get a feel for what we’re doing here, add Ninja’s built-in Swing indicator to your charts and play with the strength setting. It's a bit simplistic, but it will allow you to lose yourself in the waves and rhymes of price lows and highs.
Click here for a simple, tutorial walk-through of our entire package.
Click here for sample Charts, including Bloodhound charts.
Click here to download 4 and 14 range chart templates for CL, GD, RTY, YM, ES and UB.
Dan A. from Aurora, CO wrote:
Eddie Retraces (ER) brings automation to the art of drawing FIBS,
providing accurate, pertinent FIB data in real time.
ER provides highly effective information in real time, helping to avoid
sideways action while clearly showing entry levels automatically.
This is an excellent tool for the serious trader, and I recommend it highly.
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Futures trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing one’s financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
Testimonials appearing on this website may not be representative of other clients or customers and is not a guarantee of future performance or success.