Learn to day-trade the Emini S&P and Euro futures – live with a full time trader.
This is for educational purposes only. It was designed to show a few of our trade plan setups to help reinforce your daily trade plan review.
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TraderShark
Good evening traders, this is Brian with TraderShark.com, an educational website to learn how to trade the emini S&P futures. Today is Friday, June 15th, 2012.
The market opened up this morning here at 1328.25 represented by this white dotted line. We generally don’t trade the first 15 minutes of the day from 9:30 until 9:45. Coming out of the no trade zone we knew that today was going to be options expiration, futures expiration and options on futures expiration. That’s called triple witching. It’s also a Friday afternoon, so we weren’t really expecting much activity.
There was no trades here the first part of the morning until right here at about 10:30, which is also a reversal zone. Now we talked about this in the Shark Den, if you just took it from a, you know, black and white perspective, you may have gotten into this trade here. First target was hit, stopped out for minus 2 ticks. However, in the Shark Den we waited a little longer. My entry was right here on this particular timeframe at about 10:38. Had a long opportunity. Target 1 was hit and our target 2 was hit. And then we really didn’t know what was going to happen, just like we see in the past. You’ll see a run up and then a sideways consolidation. That’s exactly what we saw. Nice pullback to the moving average. And no further trades. So we only had one trade this morning.
Then we go into a no trade zone from 11:30 until 1:15 Eastern Standard Time. Coming out of the no trade zone had a nice clean pullback. Another opportunity to get long. Target 1, a little bit of heat afterwards. Target 2 was hit for a total of 9 ticks. Some people probably held onto this trade for a little longer for a total of 11 ticks depending on whether they were shooting for this double top or not.
We then had a slow grind up into the close. Another pullback to our moving averages. This is another situation where if you did just a plain black and white trade you would have got your target 1 off. Got stopped out for minus 2 ticks. But if you kept your stop in line with the way we talked about it in the Shark Den, you had an opportunity to protect yourself and have price action just gradually work its way into our profit target of 10 ticks. So all in all it was a good day, but it was Friday afternoon. So not many trades in the afternoon. Total of 3 trades for the day.
To learn more about these and more advanced setups or to get a copy of the Trader Shark trading manual, please visit TraderShark.com. Thank you and I’ll see you in the Shark Den on Monday 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.