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Have you ever thought about getting into trading but you feel anxious about risking your own money?
What if I told you there is a way to enter the trading game using other people’s money(OPM)?
Would that interest you?
But before we get into that, if you’re a newbie, you’re going to need
to learn the basics of HOW to trade.
For starters, you are going to need a laptop or a desktop computer.
Yes, you can trade on your smartphone, but it is much more difficult.
Having a computer with a good size screen will make things much easier.
The trading platform we are going to be using is called Ninjatrader.
Watch the video below to learn all the ins and outs on how to use Ninjatrader.
After you’ve watched the above video, go here (click or tap) https://oneuptrader.com
and choose which level of challenge you would like to complete.
OneUpTrader is where you will be getting your funded
trader account from, once you pass one of their trader challenges.
Now, you will want to decide on which asset(s) you would like to trade.
I like to trade the Nasdaq Micro Futures, and you will find this in your trading
platform under the symbol MNQ. Just make sure to choose the current contract,
as futures ocntracts roll over each quarter, or every 3 months.
I prefer to trade the micro Nasdaq, as I can still make plenty
fo money on it without overleveraging or risking too much.
If you have any questions about this or anything else,
OneUpTrader offers 24/7 live support, so you may ask
questions in their live chat on the website.
Keep in mind also, that you can make money whether the price
goes up, or down. The type of instruments we are trading
are called CFD’s, or “Cash for Difference.” A “buy” trade is called
“going long,” or also, a call option. When you “sell,” you are technically
BUYING a put option, or taking a “short” position, aka “going short.”
Your profit on each trade is calculated by the DIFFERENCE
of how much price has moved from your entry point,
thus the terminology of “cash for difference.”
One VERY IMPORTANT point to take notice of…you will do well to avoid
having any trades open 2 minutes before or 2 minutes after a high-impact news release,
and some prop firms have a hard rule that you may not trade during
certain news releases, like FOMC, PMI, unemployment numbers,
non-farm payroll, CPI, etc.
To stay abreast of news releases effecting the financial markets, CLICK HERE.
Make sure to update the time zone once there. High-impact news releases
are designated by a RED BOX next to the news event.
The reason for staying out of the markets during these news releases
is that the market can react violently and unpredictably,
and you run the risk of losing much or ALL of your account balance.
RISK MANAGEMENT is the most important skill that you can learn!
Remember this. Proper risk management coupled with
a mature command over one’s own mind and emotions
is an UNSTOPPABLE combination!
Now, I am going to give you the ultimate CHEAT CODE
to winning in the markets. This is, as I mentioned in the title,
how you can make money trading even if you have a full time job.
The first indicator mentioned in the video is the best trading
indicator that I have found, so far, and I have tried a LOT of them.
I like use this next indicator in combination with the Demark9 Indicator 1
to give me extra confirmation on the probable future direction of the market.
Personally, I prefer to use these indicators on the 5-minute timeframe.
The guy in the video recommends the 15-minute timeframe for this, but just ignore that.
Also, ignore his recommendations of changing the indicator’s settings.
Just leave it on its default settings. What I like to look for is either a green dot
below when price is down around the green zone on the Fibonacci Bands indicator,
or a red dot above when price is up around the red zone, and then I
am looking for a 7-8-9 with the yellow triangle on the Demark9 Indicator 1.
The red dot/7-8-9 up around the red zone is a signal to sell,
and the opposite will be a buy signal. My signal to close a trade will be
when I see another dot to form either below or above, depending
if I took a buy trade or a sell trade, and also another 7-8-9. Several of these
dots/7-8-9’s may form before the trend is exhausted, so to keep from
closing a trade too soon, you want to study up on key levels, order blocks,
and another indicator I like to use is the Intraday Buy/Sell Using Gann Angles-Ritz.
This can help with getting more precise entries/exits. I don’t always use
that indicator to tell me whether to buy or sell, but I use it more
to find precise levels that price might go to before the trend is
exhausted, and the market reverses and starts trending in the
opposite direction. Follow the rules, and you will
maximize your chances of winning more trades than losing. You are NOT going to
win every single trade you take, so just forget about that. The name of the
game here is only taking HIGH PROBABILITY trades.
Next, you will want to learn about using TradingView if you aren’t already familiar with that.
TradingView is a separate charting platform from Ninjatrader, and I find
that using Tradingview alongside my Ninjatrader app helps me to
get a better view on what’s happening in the markets. I like to have my browser
open to TradingView and do my analysis from there before taking trades on Ninjatrader.
This isn’t absolutely necessary, but I find it makes my life easier.
Also, if you are trading futures like Nasdaq, rather than pulling up a chart
on TradingView for the futures version, intead, pull up US100, which is virtually
the same, although the current price may show as different.
You will still see the same PRICE ACTION, however, and by using the US100
chart, you won’t have to pay for an extra data subscription,
as you would if you were using a futures chart.
The same thing goes if you are trading any other asset,
such as Dow Jones, S&P500, etc. The symbol for Dow Jones
furtures is YM, or MYM for the micro Dow futures, but on TradingView,
pull up the chart for US30. The symbol for S&P500 futures is ES/MES,
but on TradingView, pull up the chart for US500.
If you’ve made it this far, congratulations! People who “don’t have time” to read a “long” article like this
most likely aren’t ready to do what it takes to get good at trading.
This ain’t no get-rich-quick scheme, PLAYA!
Now, here is the MOST important piece of the trading puzzle…
Thanks for reading, and I hope that you find this information useful.
To Your Success!
Sammy Heath
