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. Happy April Fool’s Day. Today is April 1st, 2013.
The market opened up at 1561.50 represented by the white dotted line. The European banks were closed today and we had lower volume. Much lower than expected. I did not expect much price movement.
We have a no trade zone from 9:30 to 9:45. Coming out of the no trade zone we did have an auto wave short. Did not get in on that one. However, tried to follow through with a second auto wave short, and took a minus 2 ticks on this particular trade. And then we did have a retracement all the way up to the moving average for a continuation to the downside for a total of 11 ticks.
The selloff continued based on the news report there at around 10:00. And we always wait for a pullback. However, waiting for a pullback we missed a little bit of a run here. Nice pullback here for a total of 8 ticks to the downside. Then we ran right into the support level of Thursday’s low. Remember the market was closed on Friday. So follow that down for a total of 8 ticks. Nice little retracement. Thought we had a continuation and then just the, got kind of spooked out. Took a minus 1 tick and then of course it followed through in the direction that we were expecting.
Had a nice setup long into the no trade zone, but I did not take it. Notice I drew these arrows, I manually draw. The red dots are automatically plotted. The no trade zone lasts from 11:30 to 1:15 Eastern Standard Time. Look how narrow this no trade zone was.
Coming out, had a lot of sideways movement. Broke below our moving averages. Nice pullback. And we actually tried from the 1553.25 level, put a buy order in because it was break of the previous low and sat through a little bit of a shake out here. This took a lot of courage just to hold on to this one. And then it found its way through.
We had another Shark Attack trade follow through all the way up to 1556.5. And we were done for the day. So this is a no trade zone here at 3:50. We don’t enter any new trades, but if we’re already in a trade at that point, you stay in the trade until you either hit your profit target or you get stopped out.
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.
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.