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. Today is Monday, March 25th, 2013.
The market opened up this morning here at 1556 represented by this white dotted line. The lower white dotted line. We don’t trade from 9:30 to 9:45. Coming out of the no trade zone I had an opportunity to get long, did not get filled. NF is for no fill.
Just behind there we had an opportunity to get long. Target 1 was hit, it stopped me out right at break even. Once the target 2 is hit, stop goes to break even, got stopped out, so I only took profit of 2 ticks. If anybody did actually get filled because it hit profit target 2, you would have got a total of 7 ticks. So notice I got a green arrow and a yellow arrow. These arrows are mainly input. So I did that for the video purposes.
Then we crossed through our moving average, at what, at about 10:30 or so. Had an opportunity to get short. Had another opportunity to get short. On the second opportunity did not get filled. Continued in the direction of the trend for a total of 10 ticks. Nice little pullback. Another setup. First target got taken out. Second target. Total of 8 ticks. And we weren’t sure if the downside move was over or not, we were watching the market internal indicators. Had a nice little retracement to the natural number of 1550.
We had signals to be going long, did not take them. That’s why I printed it in yellow. We had an opportunity to get short right directly behind it. A total of 10 ticks to the downside for a continuation. Working its way towards Friday’s low of 1543. And then we went into a no trade zone.
No trade zone runs from 11:30 until 1:15 Eastern Standard Time. Coming out of the no trade zone, you don’t see this happen very often. We had three different trade setups all at one time. We had a Shark Attack trade setup. We had an auto wave. We had a Fibonacci trade. And as they pulled back, if you didn’t get in here, you got a second opportunity to get in. And on this particular trade depending on how many contracts you traded, I traded 3 contracts on this particular case, got 24 ticks if you traded 2 contracts. Got a total of 51 ticks ii you traded a total of 3 contracts. And it actually went up and hit the third target, which was about, what, another 3 ticks higher.
At 2:00, we generally don’t want to be in any type of long-term positions, so we are looking for short positions. We had an auto wave fire off short to the downside. Got off the first target, got stopped out. And you didn’t get stopped out until this second pullback here. So if you took both of them, you were taking minus 2 ticks on both. If you only took 1 you only took a loss of 1 tick.
Coming through the moving average an opportunity to get short, did not get on this. I generally don’t trade from 2:30 to 3:30 in the afternoon. I mean I will, but I generally don’t. At this point I had already hit my profit targets for the day, but then there was one last attempt here on an extended wave trade long, after coming off the lows of the day. Almost kind of duplicated a Shark Attack trade. Target 1 and target 2 were hit, but I took 2 contracts up to only the first target, which in this case was 1545.
To learn more about these and more advanced trade setups, or to get a copy of the Trader Shark trading manuals, please visit TraderShark.com. Thank you. Have a great evening and I’ll see you in the Shark Den in the morning.
Link to Video and Transcription
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past performance is not an indication of future results.