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 Friday, September 14th, 2012.
It’s the first day of our December contract trading. Those days tend to be a little bit choppy. We’ll go ahead and see how it develops here. The market opened up this morning here at 1455.50 represented by the white dotted line. These yellow lines are an opening range that we use. But I want you to notice we generally don’t trade from 9:30 until 9:45 Eastern Standard Time.
Coming out of the no trade zone there was a nice opportunity to get in on this trade for a quick 2 and 8 ticks profit, total of 8 ticks. And then if you didn’t get in there we had a nice little breakout for a potential hook pattern long and then an opportunity to get in here and ride it out for the day. I did not, it’s colored in yellow because I did not take advantage of that.
You know there’s a difference of taking fixed profit targets or have a trailing stop and that really depends a lot on your risk management and your using a trailing stop if you have a little bit larger bank account and that should work in your favor. In this particular case a trailing stop would have just not get out of the park today.
We tend to be pull back traders, so as this market continued to work its way to the upside, we’re looking for a pullback. Had some nice pull backs but no opportunities to get long. Crossed through our moving average. Gave us an opportunity to get short. Target 1 and target 2 were hit. In this particular case we knew that that steep of a run up was going to have a similar steep selloff so we increased our profit targets to the downside.
Once you get your profit target, if you did not get in on that trade, another opportunity to get short here. Standard target 1 and target 2 for a total of 6 ticks. Hitting our opening range. Not real sure what’s going to go on at this point. A lot of sideways movement. The wider the range the choppier the day. In this particular case, riding along the upper band. No interest to try and trade this. Just it would have been, you’re getting chopped out.
11:30 until 1:15 Eastern Standard Time is a period of lower volume, higher volatility. And coming out of the no trade zone, right back into the opening range. So again, no opportunities to taking any trades. You can trade in here; just know that you have a higher probability of getting a stop out. And here we did. Thought we were going to have a good break to the downside and we had a pullback. Target 1 was hit and we got stopped out for minus 2 ticks. So finished the day, finished the week very well.
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. Have a great weekend 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.