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 Monday, December 17th, 2012.
The market opened up this morning at 1411.75 represented by the white dotted line. We generally don’t trade in the no trade zone from 9:30 until 9:45 unless we have a certain circumstance setup and we did in this case. Shut off for target 1 got stopped out for minus 2 ticks.
Coming out of the no trade zone, if you did not take this trade it’s because there was no trend established at this point. We did, however, have an opportunity to get long. Target 1 and target 2 hit for a total of 6 ticks.
Going on into the morning we had a lot of sideways movement. There was still an opening range that we were not able to break out of. We had setups. Notice our auto wave trade indicator kicked off. We were below the moving averages. Another auto wave kicked off, below the moving averages. We saw a lot of sideways consolidation. There was really no direction at this point.
Then just prior to getting into the no trade zone. We had an opportunity for an aggressive trade long. And another aggressive trade long. The first aggressive trade long, I had a total of 4 contracts going long at this point. I took a minus 4 ticks. And the next contract we were able to hit target 1 and target 2 all the way up into 14 ticks for that second trade.
We’re then going into a no trade zone which is a period of time of high volatility and lower volume. Usually choose not to trade during that timeframe from 11:30 until 1:15 Eastern Standard Time. Coming out of the no trade zone we had a nice break through the moving average, pullback. Entry target 1, target 2 for a total of 6 ticks. And then generally won’t take a trade current trend like this, but I did anyways because of the auto wave kicked in. Target 1 was touched, was not filled, and then I forced a stop out at minus 2 ticks for 2 contracts. Total of 4 ticks.
Then at 2:00 we generally have what’s called an opportunity to avoid taking any long positions. And this set up nice and clean for a short opportunity for a total of 10 ticks. First contract, second contract, out for a total of 10 ticks. We then were below the moving averages, but the auto wave kicked in long. Waited. This is what patience is a virtue. Waited and we knew, we talked about the 1426.75 which is the gap fill from Thursday afternoon. We mentioned that this morning at about 9:30. And sure enough we started to see the opportunity. Everything was in our favor. Launch point from 1419.25 to 1419.75. Possibly as low as 1417.25. If you got in here around 1419.5, first target was 4 ticks. Scaled out up here at around 1424.50. And then if you had a trailing stop, you could have followed this thing all the way up into 1426.75. And notice after-market hours it actually went up to, we had the third Shark band up there at around 1430.
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 night 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.