Here’s a list of what you need to use Stats Harvester™:
1) Windows 10
2) Internet connection
3) NinjaTrader 8 (free download here)
4) Market data – such as Interactive Brokers, TD Ameritrade, Kinetick, Rithmic, Coinbase, CQG etc.
Pinnacle Quant, LLC is registered with the CFTC and is a member of the NFA. Pinnacle Quant, LLC is a registered vendor with NinjaTrader®.
Would any bank give you a loan without first checking your credit score? Of course not! The same is true when it comes to trading. You should know how the instrument you are trading has performed historically during particular days and times, purely based on that instrument’s various statistics, before you place a trade.
If you aren’t using stats as the foundation of your trading plan, in our view, you are essentially gambling; we believe this to be true no matter how many indicators you use. Indicators make excellent “framing” tools, but in our view, they need to be built on top of the core foundation of historical statistics in order for a trader to have a meaningful edge.
Could you imagine what would happen to the hefty profits of casinos in Las Vegas if they didn’t rely on statistics to maintain their edge? Why not arm yourself with a powerful tool such as the Stats Harvester™ to scan the entire market, in order to find the best potential times, the best potential days, and the best potential trading instruments for you to trade, all based on historical stats and odds? Please scroll down for more details on how you can easily use this highly resourceful trading tool built for NinjaTrader®.
Use Stats Harvester™ to scan the entire market to discover best days and best times to trade various instruments, based on historical price action statistics. Stats Harvester™ will also help identify potential price targets and stops. Once you use Stats Harvester™ to identify a list of various potential trades you can make throughout your trading day, you simply look at each particular instrument’s chart a few minutes in advance of the time you intend to trade to do your framing →
Once you’ve identified a list of potential trades that you can make based on your Stats Harvester™ findings, and checked each potential trade’s historical price ranges vs your daily profit goal, you can then “frame” your potential trade by applying indicators (trend lines, RSI etc.) to the chart of the instrument you intend to trade for the purpose of finding support for your statistical trading bias. If the frame (e.g. the trend line) confirms your foundational bias (expectation based on past price action statistics) you can then reach a decision →
Based on historical price action stats as provided by the Stats Harvester™, coupled with framing your foundational statistical findings via a supporting indicator, such as applying a simple short term trend line to the trading instrument’s chart, you may then opt to enter the trade once your expected direction of a trade based on historical price action stats gets further support from your supporting indicator. If you spend about 30 minutes/day using Stats Harvester™ to pick potential trades, you can potentially execute several well supported trades each trading day. Here’s to your trading career – Happy trading!