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 Tuesday, January 29th, 2013.
The market opened up this morning at here at 1494 represented by this white dotted line. We had a news report at 9:00, the Case-Shiller Index within consensus range. Had little or no effect on the market. However at 9:30, we generally don’t trade from 9:30 until 9:45, it’s just a period of higher volatility. Allow the bulls and the bears to fight, determine what direction they want to push the market.
We have one exception to the rule and in this case our exception was met. Target 1 and target 2 were hit for a total of 8 ticks. The gap fill was right up here at 1496.5. Price action continued outside of the no trade zone. Pushed up to our pro-range. We had a little bit of a reversal. An opportunity to get short. Notice down here we had an auto wave. A little red dot. Auto wave short to fire to the downside.
Coming through the moving average, we had a total of 6 ticks on this trade. We had another opportunity back into the moving average to try and get short. Quickly realized the bulls were pushing to the upside. Exited this trade for a loss of 1 tick.
As price action pushed up through the moving averages we had a little bit of a sideways choppy market. Coming back through the moving averages, we had a nice clean trendline momentum trade to the long side for a total of 21 ticks. In this particular situation we knew price action was gravitating towards the 1500 level. We had a nice hook pattern established in the Shark Den. Continuation. Pullback here into the moving average for a continuation long.
There was three different opportunities to get on to this trade. We had an opportunity here at the moving average pullback. We had an auto wave firing off here. A little bit of heat. We had another pullback into the moving average for a continuation on into the no trade zone.
From 11:30 until 1:15 Eastern Standard Time there’s a period of higher volatility and lower volume. We tend not to trade during this timeframe, but I want you to notice how price action remained above our moving average. Coming out of the no trade zone we had an opportunity to get long. Target 1 and target were hit for a total of 6 ticks. We didn’t have a higher profit target due to our internal indicators telling us we had some sideways chop. So 6 ticks was acceptable at that point.
And then going into the close we had another auto wave fire off here at around 3:20 for an easy 7 ticks. And then we went into our final no trade zone here at 3:50 and on into the close.
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 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.