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 Thursday, March 14th, 2013.
The market opened up here at 1552.50. From yesterday we had a swing low to the high 50% pullback, right here around 1551.75. So we have what are called aggressive trades and what are called conservative trades. I did watch a webinar the other day and they said there is no such thing as a conservative trade and I tend to agree with them. But we do have to have trades that are setup for people that have a little bit smaller trading account, maybe new traders versus aggressive traders.
In this particular case, I call this as an aggressive trade at 1551.75 for a long opportunity. It bounced at 1551.75 for a little bit, and I pulled it in for 1 tick and entered at 1552. Target got this swing high at 1555.75 for a total of 15 ticks just with 1 contract. If you held on a little longer, you could have easily made anywhere from 20 to 22 ticks just in that one specific trade. Again, it’s more of a longer term trader’s trade.
So on a lower timeframe chart, here you’re going to see the opening price with this white dotted line, 1552.5. We don’t trade from 9:30 to 9:45. Coming out of there we had a range that just price action stayed within that range all day. We had a total range of 5.5 points. No trades this morning. We have quadruple witching going on tomorrow. Try to say that three times real fast. And right here we did have an opportunity to get long just before going into the no trade zone, which is a follow through, a little bit more conservative trade, for a total of 10 ticks.
We then go into a no trade zone. As long as you get your first target off, in this particular case if you did not get your first target off and you flattened out, you would take a loss of 2 ticks times 2 contracts we would have had a total of 4 ticks for a loss. If you held on into the no trade zone, you don’t want to enter any new trades here in the no trade zone, but if you already had one entered before, not a problem holding on to it from 11:30 to 1:15 Eastern Standard Time.
Coming out of 1:15 there still was no trades. We were stuck in the middle of this opening range. We then had one final trade going into the close, at about what time here, 3:30 for our work up into the close for a total of 8 ticks.
To learn more about these and more advanced trade setups, or to get a copy of the Trader Shark trading manual, 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