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 Brian with TraderShark.com, an educational website to learn how to trade the emini S&P futures, the Euro futures and crude futures.
The market opened up here at 1778. Today is Friday February 7th, 2014. First opportunity we had, we generally don’t trade from 9:30 to 9:45, but we had an instant move to the downside. Pro-range reversal for a total of 4 ticks with 1 contract. Not a big deal. It’s kind of a scalping trade.
Coming out of the no trade zone we had a little bit of a pullback below the moving average, break above it, pullback. And I got a stop out for minus 12 ticks. Thinking it wasn’t over with yet to the upside, I had another opportunity to go for 8, a long position. Got stopped out for another 8 ticks. Again, and hindsight’s 20/20 of course, but even I get caught up. The Shark bands were right here. And I was trying to trade while I was in the middle of the Shark band, so lesson learned.
And then we had a selloff, pullback, continuation, got stopped out to my reduced risk stop out at minus 2. Now I want you to notice how we came back, tested our moving average. Pullback for a continuation. T1 was hit, did not reach my T2. And at that point got stopped out for minus 2 ticks for a total of plus zero on that trade. So far so good on a Friday afternoon.
We had a nice little break above the moving averages, pullback. This is a trade that I did not take. It did setup nicely. Looks like it hit its T1 and T2. I think in that trade it would have been a total of 8 ticks, but I did not take that trade. You know, you can’t let a losing trade or a series of losing trades get you need to just take a step back. Take a breather. Stand up. Come back. Look at the screens again and you’ll see the market in a different light.
Going into the lunchtime trading zone I generally don’t take any trades. This is from 11:30 to 1:15 Eastern Standard Time and the market just continued to do a gradual grind higher. Coming out of the lunchtime zone there was a nice, clean opportunity for T1, T2 on one trade. T1, T2 on another trade. Total of 20 ticks. We’ve already recovered our losses from the morning.
And then up here, nice little bounce off of our moving average for a continuation lower. We were expecting a selloff from the 2:00 time frame. Did not get it. I flattened out for a total of a plus zero. If anybody did, remember if you threw in a countertrend, you might want to keep that in a scalping position for 2 ticks and 4 ticks. I did not get 6 ticks on that. No, I got a total of zero on that. And then what really paid off, again patience pays off, we had a nice little Fib trade, pull back here. If you went for your T1 and T2, you have a total of 10 ticks. T1, T2 and T3 for a total of 22 ticks.
I want you to notice the run up here to the 93.5. We were tracking it as it was going up to the T3 and right before a tick we has a selloff into the close.
To learn more about these and more advanced trade setups, or to get a copy of the TraderShark trading manual, please visit TraderShark.com
Link to Video and Transcription