In addition to the Momentum and Scalper algos, the Alert Software also has a stand-alone day trading strategy specifically designed for trading the new ES Micro contract – MES.
This strategy appears on the M1 Tab in the Alert Software and starts up each day 5 minutes after the cash session starts.
Watch this video first.
Wait for a 1-minute close past the Trade Price Barrier to enter the trade.
Screenshot of the Alert Software running the ES Micro Power Target EZ Strategy
Note that the Alert Price doesn’t have anything to do with the price breaking out of the range. The range is simply the Opening 5-Minute Range and can adjust later in the day. Trades are based on the Alert “Trade Price Barrier” and you simply wait for a 1-minute close past the Barrier.
The System uses wide trailing stops. Remember we are trading the ES Micro Contract and this is part of the strategy. The Trailing Stop gets tightened up as price moves, but is calibrated to play the major moves of the day without getting knocked-out by normal fluctuation.
The system generates multiple Dynamic Targets but only the current Target is displayed in the Alert Software. In other words, if the first Target gets hit you will see the Target change to the next one – even though you may or may not still be in the trade. Typically there will be 2-3 Targets in play past the Trade Price Barrier.
As price moves in one direction the system will continue to issue targets – however that does not mean each target will be hit. The idea is to take profits at each of the targets and trail up your stop.
The Trend Direction Arrow shows which direction the system will be giving alerts for. A Green arrow means we are trading to the Long side and a Red arrow means the system will be giving Alerts to Short. Note that the Momentum Meter does not move because it’s not used in this strategy.
The ES Micro Target Strategy runs during the cash session and most of the action occurs early in the day. Some days the system will wrap it up early and no longer issue alerts after lunch time.