Market Sector:

Markets Traded:

System Type:

Risk per Trade:

Trading Rules:

Suggested Capital:

POV II: $10,000

POV III: $30,000

POV IV: $30,000

Lead Trader Fee:

III: $75

IV: $100

Description:

Mentor Mike’s POV I, II, III and IV are four levels of a discretionary ES day trading methodology. All four use the same rules and signals. The difference is in the number of contracts traded and suggested capital. POV stands for Price, Oscillator and Volume.

All four look for alignments of momentum on the 1-minute and 5-minute ES charts based primarily on signals from a “trend-defining” moving average and a “swing-defining” moving average coupled with signals produced by dual MACD oscillators. Trades are entered only on rising volume on either the 1 or 5 minute time frame.

POV I scalps 1 contract. POV II trades 3 contracts using 2 profit targets. POV III trades 6 contracts using 2 profit targets.   And, POV IV trades 9 contracts using 3 profit targets. Initial profit targets are based on the Average True Range. Subsequent targets are based on the Fibonacci sequence. Stops are trailed using a combination of the 1-minute Parabolic SAR and, a proprietary setting on NinjaTrader 7’s auto break-even and auto trailing stop strategies.

Each level has a specific daily profit target. Once the target is reached, trading ceases for the day. There is no daily loss limit. Daily profit targets are: POV I – $150; POV II – $325; POV III – $650; and, POV IV – $1,000.

Participants may stay at one level or grow their account to qualify for the next level. Even if growing the account, they are encouraged to withdraw at least one third of their closed profit each calendar month.