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 Wednesday, December 5th, 2012.
We have a second annual trading challenge sponsored by Infinity Futures. If you’d like to register, it’s for free. And you get a chance to watch eight different traders, two per day. And try to win a position as being the best trader of the eight.
And with that you can go to the website TraderShark.com. Go to the News and the Blog section. And then this is where you’ll find the second annual trading challenge. You can click anywhere in through here. You can watch, I actually trade on Friday, December 7th. And that runs from 9 AM until 10:30 AM Eastern Standard Time. But it will take you directly to this page. And then what you can do from there is you can register and get a chance to watch us for free.
And with that let’s go ahead and check out how the results were for today. So the market opened up here at 1406.75. We had a lot of sideways movement, sideways consolidation. No real trades. We had a couple news reports that were positive.
Following into the day we watched what’s called an ADX, a directional indicator. And as long as that stayed below 15 we just chose not to take any trades until we had a nice clean break to the downside. Pullback. We had an extended trade. We had a second chance opportunity. One yielded 7, one yielded 18 ticks.
And then we had another pullback. Notice this 1401.5, this was yesterday’s low. As well as our projected daily low. As well as the Globex range low. So we knew that was going to be a prominent level on our return. Broke through it. Pullback. Took a little bit of heat. Continuation. Only took on 6 ticks from this trade. Even though we left a little bit on the table. It was a safe move. And we also had our auto wave kick in to go to the long side. So we really didn’t want to fight against that.
Continuing on into the day. This was the best trade really of the day. I did not take full advantage of it. We had a nice pullback. And knowing that we’re going into this 1401.5 level. Notice the chop we had going on. I wasn’t really sure that this thing was going to break through. So I only too 2 ticks and 4 ticks. Total of 6 ticks on this trade. And this thing just ran. It took off into what’s called a Shark Attack trade. I don’t know if any traders in the room had actually trailing stops on this, but you look for targets on this one of 1403.5 and 1405.5. And then we worked our way back up to the opening price. Which you would generally see a retracement.
Now notice we’re in a no trade zone. Prior to a no trade zone, if you’ve gotten your target 1 then you can go ahead and let it run and either get your profit target taken or you get stopped out. But you don’t enter any new trades. And this thing just would not stop. I know President Obama was speaking in the middle of the afternoon.
And then from this point forward we had no further trades for the afternoon. Continued to work its way into the close.
I hope you all did well. Come join us for the trading challenge with Infinity Futures. And I’ll see you in the Shark Den in the morning. To learn more about these and more advanced trade setups, please visit TraderShark.com. Thank you.
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.