Learn to Day-Trade the Emini S&P Futures
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Shark Attack Trade – Jan 7, 2013

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.

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What you’re watching here is the tail end of a Shark Attack trade. It’s already worked its way up to target 1 which is 55.25. Second target we’re looking for 57.25. And where’s price action right now? Price action right now is at the opening price of around 1455.
 
A lot of traders are fading this area. And this could run, you know, 1, 2 hours. Just sitting here trying to suck in the short sellers. And when you’re looking at the market and traders, the institutional traders and the inside traders, they’re looking at positions that can hurt you the most. I hate to say it like that, but that’s the truth.
 
And so in this particular case a lot of average traders will be trying to fade this opening price. And we are already long in the position from around 52.50 to 52.25. We’re holding now up until, this is our third target area. And the fourth target area would be around 56, and fifth target area would be around 57.25.These lines are hand drawn. I do these as horizontal lines based on what I saw at our potential Shark Attack trade setup. These are not Fibonacci levels.
 
For the sake of time I will speed up the screen on the recording so you don’t have to sit and wait. So you may see this thing burst. Whatever it is I’ll explain it as it comes up on the video. We’re watching a tick chart. Watch me advance to climber’s chart. Watching momentum.
 
We’re back at 55.25. All those people that faded the open are getting kind of stressed. And then what you may have here is another burst. And for those people who don’t have stops, which is very dangerous to be trading this market without any stops. You’ll see what’s called a short cover squeeze.
 
Make sure you have something to do at your desk because while you wait for a trade like this staring at the screen is not going to make it go any faster. I know you’re all staring there, expecting it to move faster. It’s not going to.
 
Where’s my stop on this. Let’s see. My stop is at 52.5 on that entry. I’m going to move it up 1; my stop is now at 52.75. I risk nothing at this point. My target’s at 57.25. Again, accumulating more short sellers at the 1455 level before it pushes higher.
 
Okay, so this trade started at around 2:17 this afternoon Eastern Standard Time. And we’re currently running at around 3:00, so it’s been in the works for about 45 minutes. Working our way. And it has been testing, again, trying to accumulate short sellers. And let’s watch what happens here. I will be speeding up the time, so the bursts may seem more quicker than it actually takes. I’ll try to keep you informed as to what the times are. And the second burst actually occurs around 3:15, so it’s been almost an hour since the attack. Here’s a speed up in time.
 
We’re at 1456 level. We’ll go ahead and slide up and put my trading platform up. See the higher time frame chart here working its way to one of the Shark bands. This is with the final contract; we had three contracts on this trade. First target, second target, final target up here at around 1457.25. Here we were watching for the final target to complete. We’re moving towards 3:30. Target complete. Thank you for watching.
 
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.

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