Learn to day-trade the Emini S&P and Euro futures – live with a full time trader.
Designed for educational purposes only to show a few of our trade plan setups to help reinforce your 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, June 18th, 2012.
The market opened up this morning at 1330.25. We don’t trade the first 15 minutes of the day. Coming out of that 15 minute no trade zone we watched price action kind of chop around. We had a news report at about 10:00. Really kind of a non-moving. It was within consensus range. Market continued to work its way upwards.
We really didn’t have any opportunities to get in until right at around 10:30 or so, an opportunity to get long. A little premature. We didn’t quite wait for the pullback to the moving average. Took a stop out of minus 8 ticks and then we waited for a much better nice cleaner setup right here. Target 1 and target 2 hit for a total of 10 ticks.
Then going in we noticed price action filled the gaps. A lot of sideways movement. We had a gradual sell off here, but it was a lot of sideways movement to chop. Didn’t really see any further opportunities. With the strength to the upside and the news from Europe we really didn’t want to try to take any long positions. I think these were just stop runs to the downside. And then we went into the no trade zone from 11:30 until 1:15 Eastern Standard Time.
Coming out of the no trade zone there was a nice burst to the upside and we were really waiting for some nice clean opportunities if you were trying to scalp, this would have been a nice clean countertrend trade. And then we had a follow on perfect wave trade setup to the long side. Target 1 and target 2 were hit for a total of 10 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 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.