Magnet Master Class

0:01 hey everyone welcome to a video tutorial on the magnet trade software our new strategy Lee Goldstein here for 10-minute trades just remember all the trades we discussed are for educational purposes it is possible to lose money trading Futures so don't trade money you cannot afford to lose most of us when we use ninja Trader for the first time we have room on the chart so what we're going to do is create a new chart we have room on the screen I should say we're going to create a new chart go to new go to chart we're going to choose the instrument let's use the es1224 all these items on the right that come up are going to be default but just check them the value should be a one and the type should be a

0:46 minute 5 days of data to load and trading hour template use instrument settings okay that and then you might have to find your chart if you have a multim monitor setup and now we have an es chart along with all the other charts that we had so let's get started first thing you want to do is put the indicators on the chart that you need magnets what is a magnet that's the key what I'm going to do is move my webcam so it's out of the way a little bit there we go that's a lot better couple of things we want to take care of housekeeping our prices are too close to the margin so first off let's turn on the chart Trader which is this icon up

1:32 top chart Trader turn it on now we're still too close to the margin so right click click on properties and then we are going to increase the right side margin to 65 and obviously you can make your own choice you just want it off the margin so that the price is clear there's nothing creating confusion now we have to talk for a moment What's a magn magnets are price levels on a chart that many many Traders all watch we all tend to watch many of the same price levels and predictable Behavior occurs at those levels so we're going to put some of those levels on our charts now the ones

2:20 that we use are some of the most popular ones but you can use your own as well because our software supports a custom price level system as well as a high of day low of day magnet system so two trading systems in one any price on the chart can be a magnet so you could use Fibonacci ichim moku Cloud whatever indicators you love can be part of your custom uh system for the magnet trade but also what's builtin is the high of day system that's a built-in system so we need to put put those magnets on the chart again magnets are price levels where we can expect predictable Behavior

3:06 because so many people watch these same levels right click the chart click on indicators the first indicator we're going to put on the chart current day OHL double click it you'll notice it's the open the high and the low just apply it and okay it we don't have to do anything to it if you scrunch your chart a little bit you'll see see the green dotted line is the high of the day the red is the low of the day and the gold is the previous open second set of magnets we're going to put on are pivots right click the chart click indicators these are all free indicators that are part of ninja Trader go to

3:53 pivots double click they show up under configured and now you notice on the right here you have your pivots the only thing I like to do is change the pp color so I click it make the color black I don't want it interfering with our gold okay and sometimes you can make them obviously could change any of the colors to the way that you like you might think you know if you click a pivot it shows you all the pivots just like if you click the high and lows it shows you the high low and the open the previous the 6 PM open anyway these are now all of our pivots on the chart all of our magnets on the

4:39 chart except for one very important one we're going to add one more now it's called the vwap if you do not have a lifetime platform subscription to ninja Trader the vwap is not free but we do have a free indicator available for you all you have to do is email us at help 10minute trades.com and we have a free view up for those of us that are lifetim you click on indicators go down to orderflow vwap double click it and then on the right standard deviation bands we're just going to go to none that creates apply that and okay it

5:28 creates a line for the vwap which is what we want we want the vwap to act like a price on the chart the vwap is a very if you click it and then rightclick it you can make the line thicker if you want to with that top plot I make the line of two and apply it and okay it see how it's a little bit thicker it's just easier to see that's the vew up a very important magnet for us I also like to keep my eye on the trend when we're trading magnets so there's another free indicator if you right click the chart click on

6:13 indicators scroll down to net change display double click it this indicator shows us the pricing from the previous close Okay previous close and what we're going to do is make sure that it's highlighted I like to make the unit points if it's the es NQ y ESN Q ticks if it's the ym bonds but it varies if something's super volatile then you'll have to use judgment for instance gold 10 ticks to a

7:00 so a point is 10 ticks on gold but don't get hung up in the minutia for now we're just going to put if it's an es chart you use points if it's a ym chart or a gold chart you could use ticks or points like I said don't get all riled up about the technical minutia what's going to happen with this indicator though one more thing on this indicator net change display you have to tell it where to show you the value this indicator returns for us bottom right is the best it's out of the way of everything apply it okay it and now you're going to see there's going to be

7:45 a number on the bottom right we're on the es chart that's showing us that the es is up it's green so it's bullish 6 Five Points from the previous 6 p.m. okay so that's important to remember it's important it gives us the trend so right now the markets they're not exploding up they're not down but they're certainly not as high as they were after this morning's jobs report okay so these are the tools that are going to help us with the magnet we also have our free clock that if you're a member of our trade room you can download the clock it's one of the files that's in our room dis Drive in our

8:33 trade room we use the clock to help us to trade it's important obviously to be in sync with the markets and to know what time it is obviously when you're trading all right so the clock is something that we always have on uh the charts when we're trading live okay today because I'm teaching we don't have to have the clock at the moment so now that you have your chart set up because this is all that I'm going to do at the moment very simple charts nothing fancy and our charts don't look all lit up like holiday lights no confusion very simple clean charts so I'm going to save this as part of a workspace if you've been trading you'll

9:18 have a few workspaces created the current workspace is the green one but let's save a brand new workspace so I'm just going to click save as magnet and I love dating everything because then I know what's current so now if I go back to workspace I'm in the new magnet workspace so every time I exit ninja Trader by clicking on the X here if I say save the workspace of course it will and bingo when you load back your ninja Trader everything will be as it was right as you left it okay so now we know what a magnet is Right a magnet is

10:05 this green dotted line the high of the day the pp is a central pivot that's a magnet the red line the lower the day is a very strong magnet the gold 6PM pricing to me it's not as big of a magnet it could be but it's not one of the magnets I generally trade on a regular basis the vwap definitely the pp is an important level it's like the central pivot and the low of day high of day very important as magnets so our magnet software has built in a variety of different setups But first you have to install the software

10:51 so let me show you how to install the software we have an installation sheet okay if you become a magnet member we'll send you this sheet you just click on the link allow it okay and it will show you this file and everybody gets so confused don't worry about all these files in the middle this is a Google drive file you just click this down arrow and after a few seconds you'll get a message up here download complete and that's the name of the file see how it's magnet trade nt8 so so just remember that you need to know where that file went to on your computer where it's

11:38 located now if you have an old magnet trade version installed you want to uninstall it for us we're going to assume no one has the magnet trate installed we're going to go to tools we're going to go to import should you have a previous version you would go to remove ninjas script assembly click on that and it will show you an option for a magnet tra will be in here you would remove it then reboot your ninja Trader for us newbies we don't have the magnet installed we're going to go to tools import ninjas script add-on and then if you're lucky it shows you exactly where the magnet trade that we just downloaded download it so all I do is double click

12:25 on that file okay the message about viruses we have not sent you a virus okay it and then we will get a notice that everything was installed properly if you ever get a message where it's trying to tell you that you have a newer file on the computer always keep the newer file if it's on the computer let the file install if it says the newer file is the file being installed now as a matter of just getting all the files in their order correctly I like to reboot my ninja Trader platform after I've installed a strategy or an indicator so

13:13 that's all I'm going to do all right so ninja Trader is back and now if you rightclick the chart and we are on es1224 and you click on strategies you'll see the strategies that you have installed in your Ninja Trader so we have our third strategy is the magnet trade double click it okay and just for now after you double click it you'll notice magnet trade enabled we have if you hover over these inputs it describes them okay and that's very helpful to know if you notice magnet trade at the top says h o

14:00 l o that's our high of day low of day system if you click the right arrow here you can turn it off or you could choose custom level that's our custom level magnet system as I said previously the custom level lets you decide what price will be a magnet very very powerful particularly I I mean there are indicators that really work great EMAs people love fibs very powerful indicators and price levels we felt that to make this an incredibly valuable strategy if you could use your own levels that would make this a

14:45 gamechanging strategy it's funny though I love the high of day low of day the most it's the easiest magnet system also now interestingly I was noticing on the right here we just had a magnet trade to the previous price time at 6:00 p.m. notice price went up up up and it tested that magnet that's what a magnet is that's what a magnet does now look don't forget magnets don't do this all the time no trade is 100% but magnets in particular are great around news they're great around Market Market

15:31 opens in this particular case we don't have an upward Trend at the moment but gold tested the vwap this line here is the vwap and it it you know went through it I wouldn't say it failed it actually went through it then it changed Direction and it did work as a magnet to one of our selected areas on the price also the pp is a potential custom magnet as well so you had two potential winning trades that could have taken place if you use the custom system but for now what I was showing you is the high of day system when you click on let's start over just right click click on

16:21 strategies double click it bring on the magnet double click and we're on the high of day low of day system by default the proximity is 20% away from the magnet and that's high or low how many positions do you want to trade obviously what color is your custom level line that's self-explanatory automatically in the high of day low of day system your first Target is three ticks before your magnet three ticks before your magnet okay so if your magnet is the high of day if that's your actual high of day your target is three ticks before it

17:07 gets there and that's automatic built in you can change it if you want it to be 10 ticks away okay you can make it 10 you can make it whatever you want okay but the default is minus three I love minus three all right because it will test the magnet just before it gets there and if price decides to change its mind you'll have a winning trade you can have a second position so that if it bursts through the magnet keeps going going going you want to have that option and then of course we have our stop you might want to take a trade only in One Direction long or

17:54 short the magnet makes sound okay so that is the sound is on you can use all sorts of different sounds that's when you get to the level so if you're not paying attention you could have a magnet chart that you're not really watching carefully and it'll make a sound when the trade is ready to be triggered okay and then we also support some of our major major features in our regular software Target One Stop move if you hit your first Target in a trade Target One Stop move will move your stop let's say you type in two it'll move your stop to break

18:40 even plus two all right and then it's an automatic stop move Target Two stop move is not used in the magnet because right now it's only his two position trade you can do trailing stops we have a trailing stop method our best method in my opinion if you Trail you can just turn it on okay and I use tick for tick and you use the number of trailing ticks so for each tick that you go profit it'll move one tick in your favor the stop will move one tick if you had it on two for each profitable tick the stop will move two ticks in your favor you don't want to make that a very large

19:26 number because if you're stop winds up on the wrong side of the market that will generate an error and screw up the trade so don't get uh understand what it means to have a value of one on your trailing ticks now I do not use our other uh trailing stop method so I'm just going to teach the method I'm currently using uh the break even delay you can delay a trade if you're timing the trade in this particular case that's not really useful for magnets you can move your stop this is an interesting feature if the market moves X tick for instance instead of using trailing stops or instead of using

20:13 the uh stop move Target One Stop move there's another way that we can move our stops if the market let's say you're trading a magnet it's a very wide range and you tell the pr if the and you're trading two positions and your first Target is 10 ticks and your next Target maybe it's 50 ticks so you have a wide range if you're expecting a big move but you're not sure if you're going to hit your second Target and you want to grab some of that profit you can use this feature if the market moves X ticks and you could also use this if you're trading just one one contract

20:59 let's say you're trading just one contract and your target is 50 this is really the main purpose we invented this feature for so let's think of it we're trading one contract and we have a big Target and let's say our Target's 50 ticks if the market moves 30 ticks we can move our stop to break even plus 20 capture some of that profit now this usually isn't that common on magnet trades but it's there so that's what it's used for most often we won't be using hardly any of these extra features eight times out of 10 we'll just be using a position size how many contracts what the target

21:47 is and a stop mode strategy internal is um default I would leave the ATM strategy exactly as is you don't have to write your own ATM strategy our software is that ATM everything else here is default you can also start a magnet trade at a certain time let's say you wanted to start trading after 11:00 a.m. eastern time okay you can do that some of these are just minutia if you know what I mean not necessary for the B bulk of the trades you're going to take not to be worried about setup is important though what

22:35 account your trading on is important if you're simming of course you want it on Sim if you're on a live account it'll show up there trade it on your Live account the other thing that I feel is very important is label all your trades so if you have a gold magnet trade GC magnet trade when you apply it and okay it up in the control panel right you'll have your strategy name and it'll show you gold GC magnet because you might have another strategy trade you might have an es trade on an es chart you could trade two magnets to different charts now see why we have a two position magnet this magnet did go through now you might have been stopped

23:21 on the way down there but nevertheless if you had a reasonably side stop you could have had a second Target get hit so let's review very quickly nine times out of 10 when you put on a magnet trade if you want to remove a strategy up here just right click it and remove nine times out of 10 rightclick the chart click strategy doubleclick magnet trade okay it's going to default to high of day low of day you'd leave everything as is except choose your account okay that's important default is Sim position size it defaults to a one position trade with our automatic Target

24:09 three ticks before the price before the magnet and a 20 tick stop I'm going to leave it on our default apply it and okay it now if we had an es trade we have two potential magnets we have a magnet for the high of day and the low of day because this was our high of day low of day system right what I personally like to do and I'll tell you first let's see what happens when you enable the trade this thick line are the price entries keep in mind that the magnet is where you exit the trade the magnet is where you exit the trade okay we now have entry and a potential Target three

24:58 ticks away from the high three ticks away from the low you can leave them both on that's fine or you could trade just short by turning off the long or you could trade just long by turning off the short all right you could hover over this magnet button and you can see your buys and sells and targets but you almost don't even ever need that anymore you can move your buy okay just by clicking and holding letting go and click same thing short click and hold that's where my trade is going to enter

25:46 that's where it's going to trigger if the trade is enabled and you really believe the Market's going in your favor and you want to enter the magnet right away click the enter now button Bingo the trade will trigger okay the trade will trigger now I would not press the enter now button okay unless you have a direction chosen all right so I don't want to press it when both of them are pressed okay so be smart it's it's logical all right so I entered now and I'm in the trade now I wouldn't have gone long here so but whatever all right I'm going to close it

26:31 now one thing when you set up a brand new chart there are some properties you might want to set on your chart Trader right click your chart Trader properties profit and loss display unit I like it in currency so I see when I'm trading how much I've made not everybody likes to do that but I like currency and also show pnl when flat so when the trade is over it shows me a collection of my profits or losses on my previous trades okay now you can set that to

27:16 zero if you highlight your account you can set it to zero in Sim highlight the account tab left click the account you want to reset and then rightclick it click edit account click reset make sure clear history is checked yes and okay it and now it's back to zero it will clear your strategy so you might have to re-enter your strategy so that's fine let's re-enter our magnet rightclick click on strategies double click the

28:04 magnet now the defaults are the high of day low of day system 20 proximity one position three ticks away from the magnet long or short 20 tick stop apply it and okay it when you apply the magnet nothing happens except it's ready to trade it's not going to put you in a trade it's not going to do anything you can move your entries as we showed right by just moving the lines you can turn off long or short as we showed you can enter now also the magnet has an

28:50 automation if you want the trade to take place automatically just press the magnet entry button and leave and it will stay purple when it stays purple it means the trade is automatic should we get to the short entry it will trade a short magnet it'll go for a test of the low that's our goal and our order our Target is going to be three ticks away from the low same is true on the upside if it's not automatic when we get to the price the magnet will blink let's see if we can get there if the price goes up a little the magnet will blink purple unfortunately the price is

29:36 dropping so let's give it a second but it will blink when it blinks purple okay you have the opportunity right there to click the button and it puts you in the trade okay so it'll blink and you'll also hear the sound all right so that's another way to enter the magnet trade also so that's semi-automatic if you want an automatic magnet press the magnet entry button and when it gets to the area of Entry it will trigger automatically if you

30:25 uncheck and recheck everything recalculates okay so it's very very easy to trade the magnet trade you don't have a lot to worry about you don't even always have to pay attention to long and short all you have to do is keep an eye on your price look at Trend right now the es is trending up so it also is bouncing off these areas here okay it didn't pull into the pp it looks like it's heading back up from a bullish jobs report we missed the custom trade right here we could have

31:13 traded the vwap trade right we have a custom but we were trading the high of day low of day that's fine so I just want to go over make sure everybody understands the high of day low of day and I'll show you some actual trades so so rightclick strategies doubleclick Magnet High of day low day is all set what I like is a 10% proximity everything else I leave except I might up my number of positions maybe I'll trade three positions maybe I'll trade micros right Mees they're only 50 cents a contract to trade

31:58 in terms of risk okay so I've got the mees and why is it so important to label your trades see now we're a little bit confused which is the exact strategy we're working on so click the strategy button and make sure you label each individual strategy at the label button so so this is going to be Mees apply it and okay it when you apply it'll put the change in so we're not trading the fulls sizee es but we know which is the mees so to turn it on click enabled and now we have our

32:46 10% so if the price gets to 10% to 58250 we're going to enter this trade and then it's just a regular trade the idea is to get I like usually about 10 to 13 ticks in a Target when I'm dealing with something like gold or natural gas or oil instruments that are say $10 a tick or 10 ticks to a point I love to go for like 10 or 13 ticks as my magnet Target with es mees those are instruments that have more ticks per

33:32 point so for instance the mees has four ticks per point so I might want to go for 16 ticks on my target I just might want a little bit bigger profitability that's all give a magnet plenty of room don't be stingy on your stop and try to use highs and lows recent highs and lows important pivots as your areas of stop um don't just say well give me a 12 tick stop because that's all I can deal with I'm afraid to lose more try to use areas for instance if you had a long magnet here right make believe there's a level here that's our magnet you'd want your

34:17 stop below here okay because it's been testing this area over and over and over you wouldn't want your stop somewhere in this area area here because you're not giving your your trade as good of a chance to survive as you would be if your stop was below the most recent lows so especially on magnets use a little bit of technical analysis which I know is a little bit of a stretch for some of us jobb news Traders but technical analysis is okay now you have a magnet trade getting ready to take place on gold right don't we let's get rid of these trades here close right rightclick cancel all orders not a bad thing to do

35:05 when you're have a lot of charts open rightclick cancel all orders and I'm going to get rid of everything for the moment right click remove and we've got a gold magnet it's GNA maybe it's going to test the high a day rightclick strategies doubleclick magnet put it on 10% okay put it on 10% let's put one contract it's all we need the targets preset don't have to do anything else just check the chart you're trading the account we're on Sim that's fine call it GC apply it okay it we're ready to go enable the magnet look at that we'd be trading it I

35:51 can enter right I could have entered make sure you're on the right Sim account Sim 101 there it goes it's going it's going as they say in England now I can actually move my stop to safety here because it's a nice distance away right as it goes up now look it may pull back I don't want it to pull back I don't want to get taken out of this I think it may very well test this magnet now look this is the webinar folks I don't know what's going to happen it's a possible it's already gone up quite a bit also so let's do this I didn't want to take up a lot of time take a little profit okay we made

36:38 some money on a possible magnet test but that's the idea we set it up real quick all I all I did was right click the chart doubleclick magnet and the magnet shows up high of day low of day percent proximity I moved it to 10 no positions changed one and a three tick fill before the magnet three ticks before the magnet okay it when you apply it you don't get pulled into the trade it's discretionary if you want it to be automatic the reason it's blinking is because it's past our entry that was our magnet entry so if you were doing it right now you wouldn't trade it it's already we

37:23 already traded it we've missed our entry but that's how fast it is to put that magnet trade on you saw me we had a trade that would work okay that's how you trade the magnet all right so a couple of features reminder now I'm going to remove the magnet right click the chart doubleclick the magnet trade I'm going to enable it on our Mees chart here when I trade micros I like to add a bunch of extra positions I love trading the magnet one position multiple contracts that's my personal favorite way to trade it I like trades to be over quickly so I

38:11 like when it tests the magnet and the trade ends I'm going to label my trade Mees make sure I'm on Sim apply it and okay it enable the magnet that gives us our control control okay so as a reminder the most important thing it's a discretionary entry if you don't press the magnet entry button once and turn it purple if you turn it purple it's an automated entry and it will enter at your thick lines those are our entries remember the magnet is where you expect to exit it's not where you're putting on the trade the the magnet is where you

38:59 exit the trade and our lines which we can move are the entries very easy you can turn off automatic just press the button once turn off the color you can hover and see your targets and your cells okay very very easy you can put on an extra position uncheck a trade if it's enabled if you need to edit the settings of the trade click on strategies and my magnet Mees is there if I want to add an extra Target another position make position size two the number of contracts you

39:45 want it to be and then you should also give it a target maybe you want it to go 12 ticks above the magnet okay so that's how you do that you can also so choose whether the trade is long or short from inside the software whenever you make a change Always apply it and okay enable the trade so that it's viable so it's ready to trade that's our high of day low of day now we also have the custom system magnet and before I go I'll show you a couple of Trades so you can see some real magnet trades all right custom levels very very important I love

40:32 I love the vwap so if I get up in the morning I grab a coffee like I always do and I'm looking around on the charts I'm looking for magnets I'm magnet hopping right I'm searching maybe oil we know oil's been going crazy because of what's going on in the world oil's over 74 bucks oil's probably getting ready to uh to do another high of day right it's very possible so that's a possible magnet trade coming up that might be coming up soon but now that's the high of day magnet what if you wanted to trade the

41:18 vwap magnet looks like there was a great trade today so I can test it and it's important if you want to be able to practice magnets you have to know how to test a trade so let's do a quick ninja Trader playback so we're on CL 1124 that's our contract go to tools historical data we're going to download that data all right Market replay click it get Market replay data today's date is 104 and we're going to choose today's contract oil CL 1124 and download it Bingo it downloaded you can close this chart out now disconnect your live

42:06 connection and we're going to connect our playback connection continue and now we get our control panel for playback our chart needs to be on oil okay and we're going to put today's date in both boxes 10:04 and let's put the time at 10:30 click right Mouse in that blank area wait till you can type in go to and let's I didn't look at the time so let's put 11 o'clock let's put 10 o'clock in 10:

42:54 a.m. now there is a little goofy bug in ninja where sometimes when you press play it will default to 12: midnight just put the time back in I don't know why it does it I've talked to Texas support 1 th000 years it sometimes does it it's a pain so what we're looking for is a custom level on crude today and there's a bunch of them there was one at 940 it made a short into the vwap right so if we wanted to we could use that that's how how you would trade a custom level so let's put our time on what you want to do is turn off your Crosshair and make it local right and we can put our magnet on at

43:42 936 and we're going to see the price is going to go down and test our custom level so let's put in 935 here for our magnet time and let's see if we can do this the right way let's see if it works so we're using ninja Trader playback okay so now my time is on 9:35 press play and you can watch the price action okay but let's set up our trade you can speed up the price action by increasing the arrows here so we want to trade the vwap is our magnet okay that's our exit that's our exit so our custom

44:28 level is probably about remember what I said $10 a tick is what oil gives us so what's 27 minus 10 it would be 17 sorry 37 because we're going short so let's put an order in 74 we'll make our level 7437 very easy so our custom level 74 first don't forget right click let's start from scratch let's create our magnet trade custom level all right let's start from scratch so we put our oil chart on and we're ready to go we downloaded but now we rightclick the chart click on strategy doubleclick magnet not high of

45:16 day system now we're custom level all right and what was our custom level 10 ticks above the 2474 27 so custom level 7437 that's our custom level Watch What Happens our default Target is 10 ticks one position stop of 20 long and short we don't have to do anything just leave it the way it is just give it a name so if you start messing around with other setups you'll know CL magnet trade apply it okay it I turn on our magnet setup I I uh you

46:03 know enable it and our fill if price goes there would be 7437 so let's put the price action let's turn the trade on the markets on by pressing play turn the trade on so it's automated by clicking the button once now if price goes down to our 37 area it's going to fill us and we're looking for a test to the vup right that's our custom level trade so let's speed it up we don't have to spend the whole morning doing this we saw that it's going to work so it should work but that's how you put on a custom level Bingo hit our Target trade over that's

46:48 how you use a custom level everything else I mentioned in the previous setup was the same long in shorts you can add a second position right so we could do that over let's put a second position position size position two size is one contract okay and we need a Target let's make it 18 ticks nothing else changes except we're adding a position for those traders that want to trade if you're lucky enough to go through the magnet so let's put our time back so we're going to go back it's

47:34 9458 let's go to 930 let's see let's see if we can get to 9308 see if that's okay all you have to do is Count back on your candles to get the minute if you're on a minute chart so 935 should be fine we could enable our trade Press Play Get Ready turn on the magnet right let me backtrack because I didn't let's get our custom level with two positions so we can enable the trade turn on the magnet so it's automatic and now when price gets down to this level here instead of being a

48:19 one position trade it put two in and now we're waiting for price to go down down things are happening quickly cuz we're on six times the speed okay but price should go down because that's what we saw it do we should be testing the vop there's the test hits the first Target Bingo it hits the second target it's very easy to add a second target to a magnet trade just like you would any other trade so remember custom level going to take off the magnet and

49:05 remove it so let's say you love the es right now I didn't download the es data so we have to stay with cl so let's go to a different time of day let's go to 8:00 using the ninja Trader playback we're going to go to 8 in the morning it's a good way to practice different m magnet setups just by changing your time on a day where you've downloaded a lot of data so let's go to 8:00 with oil this morning and it looks like you know we don't know what direction price is going to go maybe it's going to test the high maybe it's going to test the vop but maybe we have an indicator that tells

49:51 us that for instance 746 for is a super important level that's a super important level so you could make that your custom level so that would be the area you want to get filled right so make your entry your actual custom level would be 7480 so watch I'm going to remove leave that level all right that's our important level that's where we think price is going to go but that's where we think it's going to go so that's where our exit is so my entry which is the custom level equals entry maybe I like

50:39 7480 because I've done some research I've done some analysis I put on my custom level system what did we say 7480 yep one position we've got a Target it's automatic we have an automatic stop of 20 you don't have to do anything except make sure you choose your account so you don't trade live when you're not ready and if you're doing playback you have to make sure you're on the playback account and I always recommend just name the trade you're working on just saves time if you add different setups apply it and okay it so now you know you press play

51:25 I'm going to slow down the Market to normal speed press play you're watching price I enable now remember I can turn my magnet on if it gets to my custom level maybe I want it a tiny bit closer okay if it gets to my custom level right there which I thought was an important level I want to go short nothing's going to happen if I'm not on automatic if I'm not on automatic when it gets to the level it'll blink purple and I can press the button to get in if it's already purple I've put the trade in automatic and it will enter me when it gets to the level that's how you do custom level and you can move those

52:13 levels all over okay if you're looking short don't move it above your price don't make the software do what it can't do so custom level very easy very powerful very powerful to use okay so let's go over a custom level trade once more you're trading the es and it made new lows and you're thinking hey you know there's a good chance the es is going to turn around it's in between 9:30 and 10: in the morning we'll talk about Good Times to trade magnets and the vwap is right above us and it's been testing it I think it's a possibility the vwap is a

52:58 magnet and it's going to pull the price into it let's put an order on at 5740 so I rightclick the chart I've got my magnet loaded right ready to go my custom level 5740 because it's the es it could be 5740 25 right 5740 and I've got a couple of targets one position for 15 ticks position two one position for 30 ticks and I have my stop of 20 so the key is I'm looking at an area es magnet trade is my label the account is on playback apply it and okay it when I enable the

53:44 trade what should happen is the price area that I think I want to enter is 5740 the magnet is the red vwap that's my magnet okay so my custom level is 5740 no big deal I just use it's real easy if you put the cursor right click the chart Crosshair put it on local and that way you get up and down side to side all your coordinates turn on the trade enable it right now the Market's moving and let's make it an automatic trade if the market goes up I'm going to

54:30 get filled at 5740 is all right for a test of the vwap that's my trade it's a busy time of day you know I'm reading the paper I'm drinking some coffee and I'm watching if I don't want any pressure at all no worry click the purple button turn it off automatic I don't need it on automatic but if I want it to trade no matter what what click the button put it on automatic and let's see what happens I'm going to speed the market up a little bit in replay okay just so we don't have to sit here all morning and watch the Market's going to start moving it's doing what we thought

55:15 it's going up you know maybe there was positive news that morning and my second target is counting on the fact that the price is going to go to the vwap and further so right now we're on normal Speed Market if it goes it's going to fill my order three ticks right before the vwap roughly it's not it's not automatically three on custom I could now move my stop to safety manually if I want to I can also move my stop to safety remember the target One Stop move feature in the

56:01 software if I had my target One Stop move set to break even my stop would have automatically moved to break even when Target one was hit anyway I moved it manually it's not so fast of a market that you didn't have time and now if price keeps going up I have an opportunity to get my second target I can Trail manually as the price moves and it's a bullish day also watch it may pull back but it doesn't matter we hit our first Target every trade isn't going to work every trade isn't going to hit all your Targets in this case we got like a Target and a half because we trailed we

56:48 went above our entry the key is I love that first Target I love getting it you know if our stop was a little bigger we'd still be in the trade so you want to make your stop place your stop in an intelligent place the stop probably shouldn't have been in the middle of that candle it should have been below that candle and you'd still be in the trade and would have had a much better opportunity for more profit so that's the custom level now let's talk about one very important thing before we finish up okay so I put my live charts back on now just as a matter of it ucas if sometimes you put your chart on hey there and your pricing is missing

57:33 data you could rightclick the chart you can always try reload all historical data and most of the time uh that will fix your chart and your data so I wanted to close out I hope everybody understands how to trade the magnet trade custom and automatic so it can be high of day low of day system custom level system discretionary entry or automatic entry and then what's very important is when are good times to trade magnets when we originally designed the magnet trade we did not plan to trade around news or at the news exactly we actually TR plan to trade around the news not exactly at the news

58:19 though we have software that trades exactly at the news so our goal was more opportunities after and before the news so we discovered of course that trading the news could be an awesome time to trade Magnus it wasn't our original intention but look at a corn oil Futures trade that we took the high of the day is up above us news comes out at 12 noon and watch this trade it's spectacular and this was a live trade we took in our trade room we actually traded the breakout that would have worked as a single direction looking for a high of day trade as a magnet SO

59:06 trading the news can actually be used to reduce risk if you're the trader who doesn't like trading breakouts you could trade a single Direction magnet put it on automatic turn it on a couple of seconds before the news is released and if there's a whipsaw you only get filled in the direction you're looking to get filled so it could save you from a bad behavior trade it could save you from a whipsaw it could make for a winning trade in One Direction so it is a way to reduce risk when you're trading news there are lots of slow moving news trades also that move in the direction of a high or low or some of the custom levels that you might choose so just to

59:53 recap some great times to trade magnets Market opens when the markets are starting to move when the markets are starting to pay attention or starting to develop their Trends good time to trade so Market opens market news fed announcements anything that moves the market in a more volatile way than normal is an excellent time to start looking at magnets after the market closes sometimes there's a burst to a magnet right as the market closes a couple seconds after very possible use your creativity to find those times that the magnets are very tradable you're going to find that there are times you never dreamed that a magnet can be

1:00:39 traded certain areas that I love I love the high of day low of day and I love vwap magnet trades because the vwap is very often in the middle of the high and low and it gives you that extra trade so I hope this video was helpful it should cover a bulk of the features for trading our new magnet strategy and I wish everybody the best I hope you're enjoying your time with 10minute trades Lee Goldstein and I'll see you soon in the trade room take care everyone hey everyone welcome to a video tutorial on the magnet trade software our new strategy Lee Goldstein here for 10-minute trades just remember all the trades we discussed are for educational

1:01:25 purposes it is possible to lose money trading Futures so don't trade money you cannot afford to lose most of us when we use ninja Trader for the first time we have room on the chart so what we're going to do is create a new chart we have room on the screen I should say we're going to create a new chart go to new go to chart we're going to choose the instrument let's use the es 1224 all these items on the right that come up are going to be default but just check them the value should be a one and the type should be a minute 5 days of data to load and trading hour template use instrument settings okay that and then you might have to find your chart if you have a multim monitor setup and

1:02:10 now we have an es chart along with all the other charts that we had so let's get started first thing you want to do is put the indicators on the chart that you need magnets what is a magnet that's the key what I'm going to do is move my webcam so it's out of the way a little bit there we go that's a lot better couple of things we want to take care of housekeeping our prices are too close to the margin so first off let's turn on the chart Trader which is this icon up top chart Trader turn it on now we're still too close to the margin so rightclick click on properties and then we are going to

1:02:55 increase the right side margin to 65 and obviously you can make your own choice you just want it off the margin so that the price is clear there's nothing creating confusion now we have to talk for a moment what's a magnet magnets are price levels on a chart that many many Traders all watch we all tend to watch many of the same price levels and predictable Behavior occurs at those levels so we're going to put some of those levels on our charts now the ones that we use are some of the most popular ones but you can use your own as well because our software supports a custom price level system as well as a high of

1:03:43 day low of day magnet system so two trading systems in one any price on the chart can be a magnet so you could use Fibonacci itchy moku Cloud whatever indicators you love can be part of your custom uh system for the magnet trade but also what's builtin is the high of day system that's a built-in system so we need to put those magnets on the chart again magnets are price levels where we can expect predictable Behavior because so many people watch these same levels rightclick the chart click on indicators the first indicator we're going to put on the chart current day OHL double click it

1:04:32 you'll notice it's the open the high and the low just apply it and okay it we don't have to do anything to it if you scrunch your chart a little bit you'll see the green dotted line is the high of the day the red is the low of the day and the gold is the previous open second set of magnets we're going to put on are pivots right click the chart click indicators these are all free indicators that are part of ninja Trader go to pivots double click they show up under configured and now you notice on the right here you have your pivots the only thing I like to do is change the pp

1:05:18 color so I click it make the color black I don't want it interfering with our gold okay and sometimes you can make them obviously could change any of the colors to the way that you like you might think you know if you click a pivot it shows you all the pivots just like if you click the high and lows it shows you the high low and the open the previous the 6 PM open anyway these are now all of our pivots on the chart all of our magnets on the chart except for one very important one we're going to add one more now it's called the vwap if you do not have a lifetime platform subscription to ninja

1:06:03 Trader the vwap is not free but we do have a free indicator available for you all you have to do is email us at help 10minute trades.com and we have a free view up for those of us that are lifetim you click on indicators go down to order flow vwap double click it and then on the right standard deviation bands we're just going to go to none that creates apply that and okay it creates a line for the vwap which is what we want we want the vwap to act like a price on the chart the vwap is a very if you

1:06:51 click it and then rightclick it you can make the line thicker if you want to with that top plot I make the line of two and apply it and okay it see how it's a little bit thicker it's just easier to see that's the vop a very important magnet for us I also like to keep my eye on the trend when we're trading magnets so there's another free indicator if you right click the chart click on indicators scroll down to net change display double click it this indicator shows us the pricing from the

1:07:36 previous close Okay previous close and what we're going to do is make sure that it's highlighted I like to make the unit points if it's the es nqy ESN Q ticks if it's the ym bonds but it varies if something's super volatile then you'll have to use judgment for instance gold 10 ticks to a dollar so a point is 10 ticks on gold but don't get hung up in the minutia for now we're just going to put if it's an es chart you use points if it's a ym

1:08:24 chart gold chart you could use ticks or points like I said don't get all riled up about the technical minutia what's going to happen with this indicator though one more thing on this indicator net change display you have to tell it where to show you the value this indicator returns for us bottom right is the best it's out of the way of everything apply it okay it and now you're going to see there's going to be a number on the bottom right we're on the es chart that's showing us that the es is up it's green so it's bullish six five points from the previous 6 PM okay

1:09:13 so that's important to remember it's important it gives us the trend so right now the markets they're not exploding up they're not down but they're certainly not as high as they were after this morning's jobs report okay so these are the tools that are going to help us with the magnet we also have our free clock that if you're a member of our trade room you can download the clock it's one of the files that's in our room dis Drive in our trade room we use the clock to help us to trade it's important obviously to be in sync with the markets and to know what time it is obviously when you're Trading all right so the clock is something that we always have on uh the charts when we're trading

1:10:01 live okay today because I'm teaching we don't have to have the clock at the moment so now that you have your chart set up because this is all that I'm going to do at the moment very simple charts nothing fancy and our charts don't look all lit up like holiday lights no confusion very simple clean charts so I'm I'm going to save this as part of a workspace if you've been trading you'll have a few workspaces created the current workspace is the green one but let's save a brand new workspace so I'm just going to click save as magnet and I love dating everything

1:10:47 because then I know what's current so now if I go back to workspace I'm in the new magnet workspace so every time I exit ninja Trader by clicking on the X here if I say save the workspace of course it will and bingo when you load back your ninja Trader everything will be as it was right as you left it okay so now we know what a magnet is Right a magnet is this green dotted line the high of the day the pp is a central pivot that's a magnet the red line the low of the day is a very strong magnet the gold 6PM pricing

1:11:32 to me it's not as big of a magnet it could be but it's not one of the magnets I generally trade on a regular basis the vwap definitely the pp is an important level it's like the central pivot and the low of day high of day very important as magnets so our magnet soft sof Ware has built in a variety of different setups But first you have to install the software so let me show you how to install the software we have an installation sheet okay if you become a magnet member we'll send you this sheet you just click on the link allow it okay and it will show you this file

1:12:19 and everybody gets so confused don't worry about all these files in the middle this is is a Google drive file you just click this down arrow and after a few seconds you'll get a message up here download complete and that's the name of the file see how it's magnet trade nt8 so just remember that you need to know where that file went to on your computer where it's located now if you have an old magnet trade version installed you want to uninstall it for us we're going to assume no one has the magnet trit installed we're going to go to tools we're going to go to import should

1:13:05 you have a previous version you would go to remove ninjascript assembly click on that and it will show you an option for a magnet tra it'll be in here you would remove it then reboot your ninja Trader for us newbies we don't have the magnet installed we're going to go to Tools in import ninjascript add-on and then if you're lucky it shows you exactly where the magnet trade that we just downloaded downloaded so all I do is double click on that file okay the message about viruses we have not sent you a virus okay it and then we will get a notice that everything was installed properly if you ever get a message where

1:13:53 it's trying to tell you that you have a newer file on the computer always keep the newer file if it's on the computer let the file install if it says the newer file is the file being installed now as a matter of just getting all the files in their order correctly I like to reboot my ninja Trader platform after I've installed a strategy or an indicator so that's all I'm going to do all right so ninja Trader is back and now if you rightclick the chart and we are on es1224 and you click on

1:14:38 strategies you'll see the strategies that you have installed in your Ninja Trader so we have our third strategy is the magnet trade double click it okay and just for now after you double click it you'll notice magnet trade enabled we have if you hover over these inputs it describes them okay and that's very helpful to know if you notice magnet trade at the top says h o d l o d That's our high of day low of day system if you click the right arrow here you can turn it off or you could choose custom level that's our custom level

1:15:25 magnet system as I said previously the custom level lets you decide what price will be a magnet very very powerful particularly I I mean there are indicators that really work great EMAs people love fibs very powerful indicators and price levels we felt that to make this an incredibly valuable strategy if you could use your own own levels that would make this a gamechanging strategy it's funny though I love the high of day low of day the most it's the easiest magnet system also now interestingly I was noticing on

1:16:10 the right here we just had a magnet trade to the previous price time at 6: PM notice price went up up up and it tested that magnet that's what a magnet is that's what a magnet does now look don't forget magnets don't do this all the time no trade is 100% but magnets in particular are great around news they're great around Market opens in this particular case we don't have an upward Trend at the moment but gold tested the vwap this line here is the vwap and it it you know went through it I

1:16:58 wouldn't say it failed it actually went through it then it changed Direction and it did work as a magnet to one of our selected areas on the price also the pp is a potential custom magnet as well so you had two potential winning trades that could have taken place if you use the custom system but for now what I was showing you is the high of day system when you click on let's start over just rightclick click on strategies double click it bring on the magnet double click and we're on the high of day low of day system by default the proximity is 20% away from the

1:17:46 magnet and that's high or low how many positions do you want to trade obviously what color is your custom level line that's self-explanatory automatically in the high of day low of day system your first Target is three ticks before your magnet three ticks before your magnet okay so if your magnet is the high of day if that's your actual high of day your target is three ticks before it gets there and that's automatic built in you can change it if you want it to be 10 ticks away okay you can make it 10 you can make it whatever you

1:18:34 want okay but the default is minus three I love minus three all right because it will test the magnet just before it gets there and if price decides to change its mind you'll have a winning trade you can have a second position so that if it bursts through the magnet keeps going going going you want to have that option and then of course we have our stop you might want to take a trade only in One Direction long or short the magnet makes sound okay so that is the sound is on you can use all sorts of different sounds that's when you get to the level so if you're not paying attention you

1:19:21 could have a magnet chart that you're not really watching carefully and it'll make a sound when the trade is ready to be triggered okay and then we also support some of our major major features in our regular software Target One Stop move if you hit your first Target in a trade Target One Stop move will move your stop let's say you type in two it'll move your stop to break even plus two all right and and then it's an automatic stop move Target 2 stop move is not used in the magnet because right now it's only a two position trade you can do trailing stops

1:20:06 we have a trailing stop method our best method in my opinion if you Trail you can just turn it on okay and I use tick for tick and you use the number of trailing ticks so for each tick that you go profit it'll move one tick in your favor the stop will move one tick if you had it on two for each profitable tick the stop will move two ticks in your favor you don't want to make that a very large number because if your stop winds up on the wrong side of the market that will generate an error and screw up the trade so don't get uh understand what it means to have a value of one on your trailing

1:20:53 ticks now I do not use our other uh trailing stop method so I'm just going to teach the method I'm currently using uh the break even delay you can delay a trade if you're timing the trade in this particular case that's not really useful for magnets you can move your stop this is an interesting feature if the market moves xticks for instance instead of using trailing stops or instead of using the uh stop move Target One Stop move there's another way that we can move our stops if the market let's say you're trading a magnet it's a very wide range and you tell the program if the and

1:21:41 you're trading two positions and your first Target is 10 ticks and your next Target maybe it's 50 ticks so you have a wide range if you're expecting a big move but you're not sure if you're going to hit your second Target and you want to grab some of that profit you can use this feature if the market moves X ticks and you could also use this if you're trading just one contract let's say you're trading just one contract and your target is 50 this is really the main purpose we invented this feature for so let's think of it we're trading one contract and we have a big Target

1:22:26 and let's say our Target's 50 ticks if the market moves 30 ticks we can move our stop to break even plus 20 capture some of that profit now this usually isn't that common on magnet trades but it's there so that's what it's used for most often we won't be using hardly any of these extra features eight times out of 10 will just be using a position size how many contracts what the target is and a stop mode strategy internal is um default I would leave the ATM strategy exactly as is you don't have to write

1:23:12 your own ATM strategy our software is that ATM everything else here is default you can also start a magnet trade at a certain time let's say you wanted to start trading after 11:00 a.m. eastern time okay you can do that some of these are just minutia if you know what I mean not necessary for the bulk of the trades you're going to take not to be worried about setup is important though what account you're trading on is important if you're simming of course you want it on Sim if you're you're on a live account it'll show up there trade it on

1:23:57 your Live account the other thing that I feel is very important is label all your trades so if you have a gold magnet trade GC magnet trade when you apply it and okay it up in the control panel right you'll have your strategy name and it'll show you gold GC magnet because you might have another strategy trade you might have an es trade on an ES chart you could trade two magnets two different charts now see why we have a two position magnet this magnet did go through now you might have been stopped on the way down there but nevertheless if you had a reasonably sized stop you could have had a second target get hit so let's review very quickly nine times

1:24:45 out of 10 when you put on a magnet trade if you want to remove a strategy up here just right click it and remove 9 times out of 10 rightclick the chart click strategy doubleclick magnet trade okay it's going to default to high of day low of day you'd leave everything as is except choose your account okay that's important default is Sim position size it defaults to a one position trade with our automatic Target three ticks before the price before the magnet and a 20 tick stop I'm going to leave it on our default apply it and okay it now if we had an es trade we

1:25:33 have two potential magnets we have a magnet for the high of day and the low of day because this was our high of day low of day system right what I personally like to do and I'll tell you first let's see what happens when you enable the trade this thick line are the price entries keep in mind that the magnet is where you exit the trade the magnet is where you exit the trade okay we now have entry and a potential Target three ticks away from the high three ticks away from the low you can leave them both on that's fine or you could trade

1:26:18 just short by turning off the long or you could trade just long by turning off the short all right you could hover over this magnet button and you can see your buys and sells and targets but you almost don't even ever need that anymore you can move your buy okay just by clicking and holding letting go and click same thing short click and hold that's where my trade is going to enter that's where it's going to trigger if the trade is enabled and you really believe the Market's going in your favor

1:27:04 and you want to enter the magnet right

…