Yes you have it. Darrell does recommend starting with spreads, but only over binary options. If you have the funds to open and trade with a forex/futures account, I don’t think he would try to dissuade you from doing that in favor of starting with Nadex. I think Nadex is just the more popular starting point because of the lower barrier to entry (it’s literally a matter of creating an account and depositing $250 from a debit card, and you can start trading instantly.)
But as for ease of trading and following Apex systems, I think you’ll find using the Chart Trader and the Advanced Trade Management feature on the NinjaTrader platform much easier. You can see how Lori uses it to place and manage trades here.
I think you’ll find that a bit simpler than working with Nadex and the scanner. Of course all of this is not to say it’s not worth trading on Nadex, or that the scanner doesn’t make things much easier. On the contrary, Nadex offers highly useful and unique arrangements that allow traders to take advantage of edges in creative ways, as well as provide hedges for managing risk. And the scanner makes all of that exponentially more accessible. The point is that when compared to a straightforward system like the Power Trading with Walls, and the straightforward mechanics of placing trades within the NinjaTrader platform, Nadex trading takes a bit more to learn and get used to.
So like I was saying, if you have the funds to comfortably setup and trade a forex/futures account, I would focus on that and venture into learning Nadex once you have that down.
I would still recommend the order I listed here. You really don’t have to worry about anything else on the site at this point:
- the “Order Prints for any system” course
- those four selected Open House webinars (one, two, three, four)
- the 4 Powerful Entries “Additional Powerful Setups”
- the “wall” component “Power Trading with “Walls”” (the THT webinar at the top first)
From there, if any of that seemed fuzzy or didn’t make complete sense, the SEES course might help by providing a foundation for those trading strategies.
That’s basically all you need in terms of understanding the Power Trading with Walls system. The only other component you would need is some basic instruction on using the platforms.
If trading within NinjaTrader, you just need to understand how to use Chart Trader (and perhaps Advanced Trade Management (ATM))…
Ninja Trader Blog - Trade Directly on your Charts Chart Trader - NinjaTrader 7 Training NinjaTrader Help - Order Entry
NinjaTrader ATM (don’t need to view all here, maybe just first few) NinjaTrader Help - Advanced Trade Management (ATM)
If trading with Nadex, you would first want to fully understand what spreads (and/or binary options) are, and how they work, then the scanner and how it works, (and perhaps the stop trigger function, and the trailing stop function), and from there it’s just managing trades between the NT charts you’re watching and the scanner where you determine the right contract and execute trades.
As you can see, there’s just a little more to it with Nadex.
