Learn to Day-Trade the Emini S&P and Euro Futures – live with a full-time trader.
This video is designed for educational purposes only and to show some of our trade plan setups to reinforce our daily trade plan review.
To successful trading,
Good evening traders, this is Brain with TraderShark.com, an educational website to learn how to trade the emini S&P, Euro and crude futures. Today is Tuesday, March 18th, 2014.
The market opened up at 1854.50, represented by this white dotted line. Today is the first day of a free trial we had going out today. We generally don’t trade from 9:30 to 9:45. Right here at about 9:40 we actually had an opportunity to do a pro-range reversal. I did not get into this, so it’s colored yellow, but a couple of traders in the room did indicate that for a total of 4 ticks.
Coming out of the no trade zone we had an opportunity to get long right here, total of 9 ticks. Into our first reversal zone. Pull back. I had a wave trade long. Stopped myself out because of a market internal indicator, and then I had a hook pattern set-up on a higher time frame chart for a total of 4, 6 and 17 ticks. I did not get the 17 ticks. I just got the first two contracts.
And then as we continue to push up higher coming into our second reversal zone, we found that the second reversal zone did not break our significant level, likely a continuation higher. Some traders were able to jump onto this for a continuation higher.
We then worked our way back through the moving average for an opportunity to get short. First target got hit. Stopped out for minus 2 ticks. And then we went into the lunch time trading zone. We had a target area that actually was hit to a tick, the selloff. I generally don’t trade during lunch time trading zone, but some people do. Coming out of that at 1:15, that’s from 11:30 to 1:15 Eastern Standard Time.
The market took off with a move higher again. There was no real strong news reports that were propelling the market, mostly volume moves today. Pull back to the moving average. I’m not a big afternoon trader. I will generally wait until 3:30 into the close. For the most part this is sideways motion, lower volume. And then right here the last bit before the last half-hour. And after you get short. Got the first target off and then scaled out a second target. And then the market went sideways on into the close.
For those of you attending the webinar today and tomorrow, I’ve got a special posted on the website for webinar attendees. Please click on TraderShark.com and go to the Home tab, and there’s a webinar special right there. We’ll talk about it tomorrow in the Shark Den.
To learn more about these and other advanced trade set-ups or to get copies of the TraderShark trading manuals, please visit TraderShark.com. Thank you.
Link to Video and Transcription