Where did Michael and Riley learn these strategies?
Michael and Riley spent several years combining and modifying the best trading strategies and mindsets from various trading courses, trading rooms, and trading books. We did not invent any of the ideas presented, but think that we have found a unique and simple way to share these strategies with you.
How much money do I need to start trading this strategy?
Day trading focused brokerages will typically require a $500 intraday margin per contract. That means that you can start trading this strategy comfortably with a $1,500 account.
What brokerage do we use?
Our favorite trading platform is Ninjatrader 8. We love its low margin requirement of $500 and lightning fast data speeds.
Phillip Capital or Dorman Trading?
The group consensus has been to stick with Dorman Trading, but either brokerage will work.
What timeframe chart do we trade?
This strategy is most reliable on a 2000 tick chart. You can try adopting other timeframe charts, but your signals and profit targets may differ.
What is a tick chart?
A tick chart is a data based chart interval that gives us a clearer view of the price action. Each candlestick forms after X number of transactions (or ticks) have been completed.
How do we avoid the Pattern Day Trader rule?
Future's contracts are not regulated by the Pattern Day Trader rule.
Can I trade the micro ES?
Yes you can trade the MES. But because the MES has less volume then the ES we suggest trading a 1000 tick chart instead of 2000 tick chart.
Can I trade this on another market?
Price action does theoretically work on every market but the course is only geared towards trading the ES futures.
Can I use Ninjatrader on a Mac?
You can use Ninjatrader on a Mac.
Do a quickly google search on: how to use Ninjatrader on a Mac.
This should walk you through on how to set things up.
What version of Ninjatrader do I need?
We suggest starting with the free version of Ninjatrader and depositing the account minimum of $400 to get access to simulated trading. From there you can practice trading and get comfortable with the platform.