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 and the Euro futures. Today is Monday, August 27th, 2012.
The market opened up this morning at 1412.5 represented by this white dotted line. We generally don’t trade the first 15 minutes of the day, unless we have a setup in the direction of our gap fill. The gap on that was 1410.5. In this case our target 1 and target 2 were hit right there at 1410.5. Continued on down to the 4:00 close which was at 1408.75.
So with that being said we had another opportunity to get a pullback. Target 1 was hit for 2 ticks. Got stopped out for minus 2 ticks. A total of zero on this trade with 2 contracts. And then you can see why. Volume remained low. Just pure chop this morning. And staying out of that was the benefit.
Working our way above the moving averages. We are pullback traders in this room and there was really no breakout indication at this time. If anybody got on this, this is in an opening range, so the opening range we tend not to trade just because it does tend to be choppy. We did have one nice little pullback here. Target 1 was hit, got stopped out for minus 2 ticks. A total of zero on that trade. Continuing through, we lost commissions on that.
We came out of the no trade zone from 11:30 until 1:15 Eastern Standard Time. You can see how narrow this was. There was little or no volume lunch timeframe. The market returned to its selloff. Nice little pullback here, but again, we were so close to opening price that we tend not to trade around this opening.
There was one last opportunity. You notice these double arrows down here for a real quick 2 ticks and 4 ticks before we get into our final no trade zone.
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 tomorrow morning in the Shark Den.
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.