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Chart #1 - Auto Controlled Risk Indicator
Chart #1 shows trades automatically generated by Auto Controlled Risk Indicator, which is used to manually enter and exit the trades. The indicator will generate the same trades as the strategies. Next Chart »
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Chart #2 - Trending Trades
You enter the trade as a scalp to be on-board if price starts to trend as shown on chart #2. Once you hit the first target, the protective stop will automatically go to breakeven and you let the remaining contracts run to catch a potential trend. Next Chart »
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Chart #3 - Scalping Trades
The chart on the right shows scalping trades with four ticks. As you can see there are many scalping trades and many winners, but I like to let the Runners run as I trail the protective stop. If price starts to trend, I’m on-board for the big move. However, some traders only want to scalp and they go for many small profits with multiple contracts. For example, a 4-tick target that generates $50 on one contract would generate $500 on ten contracts. Next Chart »
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Chart #4 - Buy and Sell Zones
These zones are generated automatically and can be used to determine good entry locations for the strategy or manual trades. You generally will not take all trades, but will use Buy and Sell Zones and other trade location indicators to determine where to use Controlled Risk Entries for potentially bigger price moves. Next Chart »
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DAY TRADE USING MY AUTOMATED STRATEGIES AND INDICATORS ON NINJATRADER 7 TO AUTOMATICALLY OR
MANUALLY ENTER AND EXIT TRADES.
The above chart shows my MODIFIED Renko bars with my Automatic Trend Countertrend Strategy on ES (S&P E-mini). The first circled trade on the left shows a
quick scalp that wins, but the second circled trade shows how the strategy does trend following by staying in the trade until price reverses. This trend
following
can be done with just one contract, which is a major advantage because you don’t have to do trailing stops. The strategy exits the trade automatically when
the trend ends as it does in this example and makes a total profit of $425.
This Nasdaq E-mini chart above shows how the strategy can trend trade with just one contract.
The above chart shows my MODIFIED Renko bars with my Automatic Trend Countertrend Strategy on YM (i.e., Dow E-mini), which is a good market for beginners or
traders with small accounts. This strategy works on the other futures markets, as well as currencies.
I’ve also included a loser to show how the strategy limits losers. The loser is circled and labeled “B.” The loser exits automatically and loses just 5
ticks ($25 per contract) for a total loss of $50.
Conway Market DNA Day Trading System can be used with Modified Renko Bars as shown above or Range Bars as shown below.
Automatic Entries
Use one of my six Auto Controlled Risk Trading Strategies to get into E-mini trades with an early entry for scalps or longer trend trades. The strategies will automatically enter trades on NinjaTrader’s Chart Trader when a Signal is triggered. The six strategies all use the Controlled Risk Entry, but with different variations for different trading situations.
You're In Control
Once the Auto Controlled Risk strategy enters the trade, you can choose to do nothing other than sit back and watch the trade unfold, OR you can manually control the trade. Additionally, you can enter and exit a trade manually without a strategy using the Auto Controlled Risk Indicator which gives audio and visual signals.
Targets and Stops
All trades start as a scalp with a 4-6 tick first target and a 4-6 tick stop. Once the first target is hit, you can use the Breakeven Strategy to automatically bring the stops to Breakeven so you get profit on the first contract and now have a zero risk trade (other than Commission and slippage) on remaining Contracts (i.e., Runners), where the bigger profits can be made. Or, you can use another version of the same Strategy to manually move stops and targets with the Runners.
Indentifies Trade Locations
There are six strategies using my Controlled Risk Entry technique, but there are an additional 24 indicators in the Trading Package that can help you find potentially good trade entries. Among the indicators are Buy/Sell Zones for possible reversal areas, Supply/Demand Zones for possible Bigger Timeframe reversals, Stop Dots to trail a stop behind your Runners, Target Projection where targets are automatically drawn on the screen to predict how far price may move in the trade. Plus, there are many other tools in this toolbox that can help you with your trades.
