Learn to Day Trade | Using Market Analyzer and ES Volume as a Guage.

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http://pwc2.com/iw – When you are learning to day trade, I feel it is MORE important to learn when not to trade; you can use the NinjaTrader Market Analyzer (a great day trading tool) and the ES as a gauge to help determine if you may be in a slow, choppy market. Check out how I set up my market analyzer in another blog post. Well, I missed the trade of the morning because I had to take my daughter to school, fatherhood called and I answered!

I arrived at my office a little late and just like any other red blooded American…(or Canadian, European….or whatever :)) I wanted to get “my piece of the action”! Well, what can I say, it was slower than I’ll get out and here’s how I knew. First, I can tell by how many bars I have across my screen, the fewer the bars compared to time the slower it is. Second, I may not trade the ES (S&P500) but I use it as a day trading indicator for overall daily volume to tell me what participation looks like. And finally, I use my OmniTimer to tell me how long it is taking to make each bar; the longer it takes to make a 6, 8, 12, etc. bar, the slower it is.

Check out the video for a more visual explanation.

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