[Tutorial] How To Get Started Day Trading for Beginners | Complete Instructions with Download Info

[Tutorial] How To Get Started Day Trading for Beginners |  Complete Instructions with Download Info

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we've had so many people come to us at day trade  to win over the years who have tried day trading   a number of different ways and ultimately they  realize i need to go and try something called   price action and if you don't know what that is  that means just using price on your chart we'll   get into that a little bit later but that's what  we specialize in we have a bunch of different   courses and software that focus on price action  trading and uh most importantly probably for you   if you're watching this video is we have a free  get started trading guide that can be found up   here in the menu go to get started and then click  on get started guide this will put you on this   page where you can submit your information and  then get a pdf email to you and within that pdf   you will see a number of things that describe  how we go about trading what we recommend general   concepts explained how to get a professional  trading platform what to do when you get the   platform such as installing a data feed and many  more things so now we will look at downloading the   platform that we use which is called ninjatrader  yeah so to get ninjatrader you could just go to   ninjatrader.com in your browser and you'll see  this large area here input your email and you'll   get the download but if you go by our get started  trading guide you're going to click this link here   in part three and then use this license key  to generate the download and that page here   looks something like this this is where you put  the key click on submit and then you download a   setup program and that setup program installs  ninjatrader if you've been using a computer at   all for some time you should be fairly familiar  with installing software if not it's pretty   straightforward just keep clicking the next button  agree to the terms by all means read them if you   want to and eventually you will get two icons on  your desktop you will get a 32-bit ninjatrader   icon and a 64-bit ninjatrader icon most of the  computers these days are 64-bit machine so use the   64-bit version typically what i do for our clients  is i delete the 32-bit icon it's still installed   if you need it as a 32-bit application the 64-bit  application though is much better at taking   advantage of all your computer resources though  in most cases the way we go about price action   trading you won't actually need to use all those  resources your computer will probably do just   fine even if it's a few years old upon opening  ninjatrader for the first time you may see a few   pop-ups and so forth you can close those things  and eventually you will see in the background   this control center it may be a different color it  may be a lighter shade i've changed mine to this   darker color because it's easier on the eyes  i feel in any case this is called the control   center and i think of it as the main headquarters  of ninjatrader this is where you would go to do   just about anything from opening a new chart or  a superdome or the trade performance window for   tracking your practice performance to a number of  things but ninjatrader isn't so useful from the   get-go you could actually look at historical data  that means charts with data from prior days but   the main advantage of ninjatrader is  actually the practicing of trading   in real time conditions and to do that you  need to set up a data feed and a data feed   is really a connection to a data provider  that gives you real-time data on your charts   once you have one of these data feeds set up you  go up here to the connections menu and you click   on it and then within a short period it should  connect but if you have an expired data feed   this is what will happen you will get an error  message so keep in mind these data feeds typically   last for about 14 consecutive days maximum if you  have a real time rather a funded brokerage account   you won't run into this issue if you are a client  of day trade twin and you need further assistance   with data feeds by all means email us support  daytradetowin.com and we can help assist you   so yes a data feed is really just a username  and password that allows you to connect to the   market and we feel that this is really essential  because if you're not practicing real time then   how are you practicing what's the value in your  practice so let's go over setting up one of those   data feeds so to do that connections configure  and then we have a bunch of connection providers   if you are seeing very few connection providers  it's possible that you installed ninjatrader using   a license key that provides fewer options and you  can change your ninja license key by going to help   and license key but for 99 of the people watching  this video you'll probably just go to configure   and see all these different options here now the  one that you're looking for is called ninjatrader   continuum and when you see that double click it  and then at that point it will drop down here   click on it here and then you can enter a username  and a password again if you don't have one   you can email us at support daytradetowin.com and  then we will assist you in getting a data feed   once you have a username and password or a data  feed input that information here and then click on   ok and then we can go to connections and go  to the data feed here my ninjatrader continuum   click on that and then we should have the  connection when connecting you will click   the data feed here and you'll notice that  there is a yellow circle up there and down   in the bottom left and it turns green once  it's connected you should also hear a sound   and at this point you have live data coming  into the platform that's available to you so   you can open a chart by going to new chart  or open a superdome or both you can do what   you need to do to begin practicing because you  now have that really important real-time data   next why don't we take a look at opening a chart  because after all a chart is the main way to see   how price moves over a period of time you've  probably seen charts in the news on various   websites maybe even in researching various day  trading courses and software we primarily work   with charts because we work with price action  which is the movement of price on charts   so to open a chart in case you didn't see  what i just did i went to new and then chart   this opens up a window here they titled it data  series in the instrument box that's a prompt   saying what market do you want to open so here  you would select the instrument or the market   that you want and you've probably seen on the news  how different markets have different abbreviations   the data fee that we set up is for futures you  can look up the definition for futures trading   in a few different places and get a sense of what  it's about that's really for another video but in   ninjatrader they have a category here in this  drop down for futures and here you would select   the market that you want in this case we will be  looking at the e-mini s p 500. the abbreviation   for that is e s right now i'm recording this video  in november so the current contract period is the   december contract i am going to click there for on  this es1221 the reason why we like the e-mini s p   500 is because it's very liquid and the price  patterns that occur work really well with our   systems so now that we have the e-mini selected  we can begin specifying the type of chart that   we want there are many options here but we don't  really go in and tinker with all of these settings   some of the main settings are right  here at the top right of this panel   we like a minute based chart minutes are good  it's a standard time based chart there are   other different chart types that are fancy  in other ways but using a regular interval   of time which you're probably comfortable with  already because you look at time on a regular   basis this is going to be easier for you to  understand and it's also the type of chart that   we work with we work with a one minute chart and a  five minute chart by default a one right here one   minute chart is selected but if you wanted to use  a five minute you would type in five and then you   would open up a five minute chart once you click  on ok so let's go a little bit further and see if   there's anything else we may want to change going  down we see ah days to load what could that mean   it is actually the amount of historical days that  you want to see on your chart so if you have a   value of five here that means you can scroll back  five days ago and see what occurred through each   of the last five days so that's a lot of price  data it's not really going to cause a problem   to load all that data if you go beyond  30 days though you might experience some   slowness in terms of downloading all  that data so typically we recommend   a maximum value of 30. in most cases we will use  5 or 14 so we get about 2 weeks of historical data   this won't really impact any signals that you're  using but sometimes it's nice to go through and   review and see what price has been doing how  prices have been moving how volatile things have   been and so forth so let's keep it at 14 the value  at five and we can ignore the remaining settings   clicking on ok we should then have a chart  which i will bring over here now this chart   is kind of small it's kind of crunched up compared  to the display dimensions that we're working with   i'm going to drag this here and position it so  that it really takes up the full width and height   of the display the price candles in my opinion are  still a little bit small and for this video you   might have a hard time seeing the various values  on the two axis here so we have a vertical axis   which is price and then one here on the bottom  the horizontal one which is time so you have   time from left to right up and down as price so  throughout the day price is plotting so on and so   forth at different values and it begins to take a  personality and appearance uh price action really   that's what we look at and from this you can  deduce certain patterns and then make decisions   on how you want to trade that's really the art  of price action trading that we specialize in   at day trade to win now let's make things a little  bit easier to see for our eyes here let's make the   text bigger on the chart i'm going to right click  the chart properties and change the font drop down   let's make this a little bit bigger so all of the  viewers can see it maybe 20 would be good how does   that look okay that's a little bit better 20 okay  now if we click and hold here the time axis on   the bottom and drag to the left we can now have a  clearer view of what price is doing i'm doing this   video late in the day us eastern time and you can  see here the time format is 24 hour time sometimes   it's called military time the time is currently 6  22 p.m local time but if you were to compute that  

in 24 hour time you would be looking at the 1825  chart and with 24 hour time keep in mind that it   sort of matches the regular local time until you  hit the afternoon and then instead of 1 pm you   have 1300 and you count up from there throughout  the evening that is a little run-through of   24-hour time and how price appears on a chart we  have over here the price axis that i mentioned   before you can click and drag this one but  when you do that it really stretches it out and   isn't of much use if you ever drag your chart in  such a way that it becomes difficult to navigate   you can look to the upper right and you should see  this little f button f as in fixed it's the fixed   scale button i call it the focus button because it  brings the candles back into focus and that's what   you like to see because otherwise we're trading in  the dark we want to be able to see price moving at   all times so that we can make decisions based  on real-time movement remember what i was just   covering the importance of real-time trading and  when you're trading price action seeing real-time   movement is really important you don't want  to be making decisions based on what happened   too long ago either you want to make decisions  based on what price can reasonably do in the   given moment and how do we get informed decisions  well it's good to have a strategy in mind and   it's going to have a strategy that has some  consistency one of the things that we advise   all traders of or at least recommend is using  something called the average true range the atr   another name for it can be applied to the chart by  right clicking the chart and going to indicators   there's also a way to get to the indicators panel  by going up here to the top but i like to right   click because that gives me a full listing of  everything i want to see there's many other   options here to configure and adjust things so  indicators and what is an indicator an indicator   is a way to inform yourself so that you can make  a trading decision it can be a visual cue such as   a signal such as a wavy line something that will  give you an idea about what the market is doing   what may happen what's happened in the  past there are no guarantees of course   indicators that give you signals those signals  can be excellent but there's no guarantee that   any signal will produce a successful result the  market is going to do what the market wants to do   that's just the way it is risk is a  part of trading and we always tell that   to our clients back to the point atr average true  range what is it it is a measure of price activity   for the last x number of bars x as in a  variable i'm going to use a period value of 4.   i believe 14 is what is typically here but we're  going to switch that to a 4. why is that same as   i was describing moments ago we like to see a more  recent picture of time to give us more real-time   informed decisions 14 means it's going to look  14 bars back to give us an average of what price   activity has done is that gonna be so helpful  no because that's a snapshot of a bigger time   period if you were trading maybe on a 15 minute  chart or something like that or had another chart   that was that kind of a time frame and you want  to cross reference and get all complicated maybe   you could find some use with that 14 value but we  always keep it at four now you can customize the   appearance of the atr if you want by going down  here ninjatrader likes to use these little drop   down triangles they're kind of tricky to click  on they're pretty small but look for them click   on them if you want customize things how you like  them width of three change it to gold if you're   on a dark chart and voila you should have this  atr at the bottom highly legible and giving you   its value the current atr value all the way on  the right right now it's 1.78 so the market is   not too volatile in terms of how we at day trade  to win measure the market we look for an atr value   between two and four points to say this is a  good time to trade if it's above five which is   right here that's a little too volatile for us  and we're going to switch it from a five minute   to a one minute and you can do that right up here  you can switch the time frame easily up here by   the way if you need to go into your settings again  and really fine tune the chart the way you want it   by all means do so right click data series and  you're brought back to that display we had earlier   we can change the historical data and really the  other aspects of the chart the chart type and so   forth so this is a little bit more customizable  than the quick access drop down here and by the   way if you want to switch among the different  futures markets you can select here and then   eventually you'll have a listing of recent chart  types up here that you can easily click to bring   up that chart type so just some tips there for  navigating through different types of charts   back to the point atr useful period value of  four gives you an average of the last four bars   thus computing to 1.78 at the present moment above  five too fast below two probably too slow follow   the guidelines of your trading method we give  really clear instruction at day trade to win so   you know what to do for the given conditions and  by the way if you ever see this arrow here in the   upper right that means you're not looking at the  current condition so let's refocus on the current   conditions that jumps us to the current plotting  candle since this is after hours price isn't   moving around too much but i will point out that  the present price here for the e-mini is 4642.75 you can see how the little point of this black  sort of tag thing is is pointing right now to   the let's really zoom in here to the bottom of  this candle this whole thing here is a candle   and the reason why it's red it's because  it's closing this price right here is   lower than the last candle so the  red is determined by the position   of the current price relative to the prior candle  so if price shot up here was up hanging out over   here this would be a green candle but it's not  it's down here so that's how you look at the   candles in the candle color and if you go back  in time you can kind of see how that makes sense   with the opening and the closing price and  how do you know what the opening price is   well that depends so we can tell that this  candle for example this green one opened here   and closed here because it was overall a green  candle it closed higher than it opened thus it is   a green candle this one here the current candle it  must have opened here and seems to be closing here   but we don't know when it closes right we're on a  five minute chart each candle is five minutes in   duration we're going to show you how that works  in a minute oh it just closed okay well you get   my point then so it closed lower so it turned  red and that's set in stone pretty much this is   always going to be a red candle for the current  date here at the 18 30 candle the 6 30 pm local   time candle is a red candle historically it's now  recorded we are now on another plotting candle now   the focus here is real time trading so we're in  a candle right now we're always going to be in a   candle the market does close for a period of time  during the day you can look that up or email us   we will tell you about when that is so how do you  actually confirm when a candle is about to close   well we use something called a bar timer if  you right click and go to the indicator section   you will see that there are many many indicators  here but we only use so many the bar timer   conveniently is just below the atr this is an  alphabetical list if you haven't noticed so   if you double click on bar timer great there's  nothing to configure if you click on ok it will   be added to the bottom right of the chart and you  can see we have about three minutes and 50 seconds   remaining in this candle we are using a five  minute chart every candle represents five minutes   so this will start counting down from about  five minutes each time when this reaches zero   you will then have a new candle start and the  countdown will begin again so again at the   concept here looking at the overall concept we're  looking at price movement over time represented as   candles opening and closing at various prices this  is just how most traders view price and time to   make decisions certainly price action trading the  way we do it at day trade to win yes you can use   a different chart type if you want you can change  it to a squiggly line or something like that but   that just doesn't give us the same representation  the same picture all right so you're looking at a   chart now what do you do with it do you just look  at it no you want to trade you want to hopefully   make money trading but it's important to practice  trading first with this real time simulated paper   trading data feed as they call it to paper trade  you need to have a way to actually place trades or   place orders as they're also called ninjatrader  provides a way of doing that within the chart   it's called chart trader and if you go up  here to the top you'll see this little icon   here it's hard to describe what it is it's two  small boxes connected to a larger rectangle if   you click on that and go to chart trader you'll  have this panel on the right and you can place   different types of orders day trading the way we  do it you're pretty much taking an educated guess   in the current moment as to whether price is  going to go up or down that's it there's more   to it but that's essentially what it boils down  to and you probably can't see the distinction   too well but in the left panel these are the  buttons that will let you buy and that says   i think the market is going to go up i think  price is going to go up so i'm going to place   an order because i want to make profit with  that expectation conversely if you think price   is going to go down if you click one of these  sell buttons you will begin placing an order   that will hopefully be filled so that you can get  in with a possible downward movement you can place   these orders almost at any time providing the  market is open and your brokerage account is set   up a certain way we are using the sim 101 account  which is the built-in account for paper trading   within ninjatrader and as you place these paper  trades over time in practice you will actually   build a history of account performance that you  can look into later on to measure your success   and that can be accessed by going to the control  center and going to new and then trade performance   and here you can generate a report i haven't  really done much paper trading recently but if   i wanted to i could genera generate a report  from the the start date here to the end date   clicking generate and this would fill in with a  summary this the statistics of my paper trade so   a cumulative total an expose on how my performance  is very useful to have and something you should   check on every week two weeks 30 days six months  and so on back to the chart we have now a way to   paper trade there is a more advanced way to place  orders and that is something called a superdome so   if you go to new and go to superdome dynamic the  static is a different story for now just focus on   the dynamic you will have a superdome window and  this superdome window i think of it as a remote   controller for interacting with the market for  placing orders just like the superdome so this   is a more complex version of the chart trader i  feel you can do a few more things with it in fact   it gives you a breakdown of the buyers and  sellers here this is the sell column here on   the right the buy column on the left and you can  interact with the price accordingly you can place   a market order to buy right here whereas the  buy market would be up there in the upper left   of this chart trader panel very useful the  super dome typically what we recommend but   chart trader will work fine as well if that's  what you're more comfortable with by the way   we do have more advanced videos that we can send  you regarding the superdome in placing orders and   the different order types so if you are interested  in that reach out to us support daytradetowin.com

and of course our get started trading guide  does have some content in there that will help   you okay great we know how to place orders or at  least we know what we can use to place orders but   how do we make informed decisions well yeah you  can understand price patterns look at them and   say aha i know when this happens i'm going to do  this and so on but that takes years of experience   typically to develop that sense of timing that  sense of pattern recognition and so on what we   provide at daytrade to win are a number of trading  methods and these methods are transduced into   something called indicators we've already  looked at two indicators but these are kind   of simplistic they do give us a measurement and  they do have a lot of utility but our indicators   go well above and beyond those two indicators  i have discussed for example we have the atlas   line if you double click on the atlas line if  you happen to have it if not you can purchase   it from our website daytradetwin.com you can then  configure the settings we again fully teach this   we have live training we have a course the whole  nine yards once you have the atlas line on your   chart though it can really be helpful to aid your  trading for example here we have the atlas line   and it's giving us a short signal and that would  have had us enter in somewhere around here and   that may have well been some profit now the  prior signal may be not so good but that's part   of trading the idea is overall the consistency  should give you the results you are looking for or   at least something to work with we have additional  signals here these pullback and strength signals   which give us additional opportunities to enter  assuming that price will go down so again we   fully teach this method this is one of many that  we offer at day trade to win in fact we offer a   full eight-week mentorship program that includes  over 10 trading methods we teach you how they all   work together to form one complete trading plan  so if you just want to go fully into day trading   you're that serious about it by all means check  out our mentorship program so look forward to that   this for example is our blueprint indicator giving  us a short signal right near where the atlas line   gave us a signal and when we have two different  systems giving us signals around the same time   we like to see that so the blueprint is something  that we're pulling out of the mentorship program   and we're making it available as an independent  system very soon so maybe by the time you're   watching this video will be on our website  and we really like this method it's all price   action based and you can compare it here with  the atlas line so you can see it's actually   an overlap which is quite interesting but we  see these two confirming signals so this was   you know double the reason why we felt comfortable  entering here if i had placed a trade and was   showing you at this time maybe we would have done  a real time trade but nevertheless we can look at   historical performance and scroll back and see  what happened as discussed earlier so just two   indicators we have many more to show you and  share with you again check out the website   daytradetowin.com and i really encourage you to  look at the get started trading guide that we   talked about or that i talked about earlier in the  video because you may want to save these settings   and the best way to do that is to save a template  we go into saving a template saving a workspace   recalling all this stuff just configuring your  screens and your charts to make it super easy to   get everything back the way you want it the next  time you open ninjatrader you can also go to the   contact page we have fill out this form or give us  a call here at 888 607-008 we are us-based so just   give us some time in case we don't respond to you  right away thank you for watching we appreciate   you here at day trade to win and we want to help  you succeed and learn how to day trade using our   unique approach to price action if you're new to  day trading and want to learn more on the benefits   of trading the markets visit daytradetowin.com  join the next mentorship class starting later   this month and subscribe to the day trade to win  youtube channel we focus on price action and work   exclusively with new and beginner traders who  want to learn more on how to prosper from trading

2021-11-16 02:42

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