As a reminder, I will be in NY from today until July 4th. I will be broadcasting live today and from NY in the mornings and Simon will cover me in the afternoons for the second session of the day from the UK.
Beginning July 5th, we will be tracking the new Tidal Wave trade and keep everyone informed of the results prior to launching. This is an exciting trade we have been working on that has been generating nearly 3 times that of our regular trades. Updates available after live testing.
There will not be daily videos while I am out of the area, and will resume July 6th.
Legal Stuff: Past results are not indicative of future performance.
Have a safe and happy 4th of July week!
TraderShark
Good evening traders, this is Brian with TraderShark.com, an educational website to learn how to trade the emini S&P futures. Today is Thursday June 28th, 2012.
The market opened up this morning at 1317. We had a couple news reports this morning at 8:30, the GDP and the jobless claims. Both within consensus range, so they really didn’t have much effect on the market. We don’t trade from 9:30 until 9:45.
Coming out of there we were choppy within an opening range. And I think it was mostly waiting for the court decision here at about 10:00 in reference to the Obamacare, which they upheld. And with that we had an immediate selloff. Now there’s probably a 50/50 consensus as to is it going to be good or is it going to be bad for the financial markets. So with that we didn’t jump on any trades at this point.
Now ordinarily on a news announcement, you’ll see a selloff, nice clean pullback and a continuation in the direction. In this particular case it continued to chop around sideways and work within our opening range. We really didn’t get interested until after we had a nice clean break down through our opening range. Pullback. Target 1, target 2 hit for a total of 10 ticks. Some people held this on for a total of 14 to 16 ticks. I did not. I got out and I ended up paying twice the amount of commissions. Not a big deal. Got 4 ticks on that final side before we went into a lot of sideways chop and consolidation.
There was a nice clean pullback to our moving average right here at around 11:10, but we do watch the clock. And in this particular case I did not take this trade. Worked its way up into the no trade zone from 11:30 until 1:15 Eastern Standard Time. Coming out of the no trade zone we had an opportunity to get short. A nice clean 10 ticks. Resistance level here on our moving average and did not have any further trade’s setup to the downside.
Notice price action worked its way back up through the moving average. A pullback. In this particular case we did have a couple traders that knocked out anywhere from 25 to 40 ticks just on this one trade. And we had a lot of market internal indicators telling us just to buy on and hold. And notice our first entry here, if you’re playing from a conservative static targets, target 1 and target 2 hit for a total of 9 ticks. Here, if you’re doing another static target, target 1 and target 2 for a total of 10 ticks. However, if you held on with maybe a trailing stop in behind the moving averages, you should have been fine. Working your way up into anywhere from 25 to almost 40 ticks on that particular move.
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 and I’ll see you in the Shark Den in the morning.
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.
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, June 27th, 2012.
The market opened up this morning at 1318.25 just above our opening range. Notice from 9:30 to 9:45 we generally don’t trade. Coming out of the no trade zone we broke above our opening range for a nice clean pullback. Target 1 and target 2 hit for a total of 10 ticks. And then we went sideways consolidation. Kind of a choppy mode.
And then we did have an opportunity to try to get long. We saw a break through our moving average. Looked for an opportunity to get long. Target 1 was hit and got stopped out for minus 2 ticks only to find our price action to continue to ride along this opening high range. We did have an opportunity to get short once we crossed through the moving average again. Target 1 and target 2 were hit for a total of 6 ticks and then we went into the no trade zone. Lower volume and higher volatility and we choose not to trade during that timeframe.
Coming out at 1:15 we had an opportunity to get short. Target 1 and target 2 were hit. This was a countertrend trade because we were still above the moving average and some people were able to hold on. We have what’s called a holding indicator. The holding indicator would have allowed us to get into approximately 10 ticks. I was out at 6 ticks on that particular trade.
We then, once we had a confirmed movement below the moving average. Another opportunity to get short. Target 1 and target 2 were hit. A total of 8 ticks on that trade. And that was pretty much it for the day. We had a nice cross back to the upside and there really wasn’t any other opportunities before we went into another no trade zone.
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 and I’ll see you in the Shark Den in the morning.
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.
Good evening traders, this is Brian with TraderShark.com, an educational website to learn how to trade the emini S&P futures. Today is Friday, June 22nd, 2012.
The market opened up this morning here at 1325.50 just a little bit above this white line. I put the line in at 1325. We generally don’t trade the first 15 minutes of the day from 9:30 until 9:45. We do however; take one trade in the direction of a potential gap fill. And in this particular case we had our stop really tight and with 2 contracts took a stop out of minus 8 ticks. I don’t know if you can see that above there. Just go ahead and move it so you can see it. We took minus 8 ticks on that first trade.
Coming out of the no trade zone we had a lot of sideways chop. We generally don’t trade within 1 point of opening price. And you can see how this sideways chop. We then had a nice breakout. We looked like we may have a continuation. Pullback to our moving average. Try to get long. Took a full stop out of minus 16 ticks on this particular trade.
Price action continued to operate in a very erratic choppy manner. And again, we knew it was expected. Today is Friday afternoon. As well as we just had a long run, 35 point run yesterday. And it’s just like you’ll see intraday. If you’ll see a run, then after the run you’ll see a sideways consolidation or breather or taking a rest type of movement. And that’s exactly what we saw.
The break down to the selling pressure we saw here. Really didn’t go strong enough for us to get anxious to jump on a short trade. And we went right into the next no trade zone with no further trades from 11:30 until 1:15 Eastern Standard Time. Again, it’s kind of like watching paint dry, right.
We did have an opportunity right here at around a little after 2:30. An opportunity to get long on a market order. But I’m not going to count this because this does not follow according to our trading rules. What we did is our indicators we watched for an anchor chart and a trigger chart to be in the same direction and when they are it’s a market order long. And that’s, you know, a couple people may have got a hold of this or not.
The next trade that actually set up was nice and clean. It was an extended wave trade right here at about just a little after 3:00. Target 1, target 2 hit for a total of 6 ticks. So all in all we had a down day and that’s to be expected.
In the meantime, 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 weekend and I’ll see you in the Shark Den on Monday morning.
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.
Good evening traders, this is Brian with TraderShark.com, an educational website to learn how to trade the emini S&P futures.
The market opened up this morning here at 1351.50. We have an opening range here that generally it tends to be choppy. Knowing that the FOMC announcement was coming in at 12:30 Eastern Standard Time today, we did not take any trades in this zone.
From 11:30 until 1:15 Eastern Standard Time is a no trade zone. However in this particular case we were watching it. We don’t trade the news itself. We trade the reaction to the news. Initial price move was down. Nice clean 50 to 61% retracement. Got in for this trade. Target 1 got hit. We got stopped out for minus 2 ticks. Not a big deal. We know our stop’s really tight on this type of volatility.
Coming back through, did not follow through to the downside. Got stopped right here at yesterday’s gap fill. And also the Shark Band held substantial support. Retracement back up into our initial starting price from the news report. That’s a bullish move in itself. Nice little pullback. Continuation for target 1 and target 2. A total of 20 ticks on that particular trade.
Working our way back up into the opening price, we did have an opportunity to get short. Target 1 got hit. Got stopped out for minus 2 ticks. And shortly thereafter another opportunity to get short based on our trade signals to get short. Target 1, target 2 hit for a total of 12 ticks. Could have held on a little longer, but we ran right into the Shark Band.
Shortly after that, right at about 3:30, another opportunity to get long. In this particular case I had two different trading accounts going. I had one that got stopped out for minus 2 ticks because my stop was way too tight. And shortly behind that I had another trendline wave trade continue on for target 1 and target 2 for a total of 12 ticks.
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 and I’ll see you in the Shark Den in the morning.
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.
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, June 19th, 2012.
The market opened up this morning at 1345.25. Still wheeling on the creation of the government over in Greece. The market is euphoric. We don’t trade from 9:30 until 9:45. Coming out of there we had an opportunity to get long on a trendline wave trade. Opportunity for 10 ticks easily from a static perspective. We had one trader in the room I think made 40 ticks, 10 points on this particular trade. He rode it for the whole day. Had a substantial trailing stop. The meantime we had what’s called an EWT, extended wave trade here for 9 ticks. And we had a TWT coming right behind that.
Continuing on price action dropped below our moving average. All these pullbacks nice clean opportunities to scalp a little bit if you’re interested. Aside from that no further trades in the morning. From 11:30 until 1:15 Eastern Standard Time we have a no trade zone just a period of higher volatility and lower volume.
And then right here at about 2:00, we don’t generally take any type of long positions. Nice clean setup for a short opportunity for anywhere from 10 to 15 ticks. In this particular case it is considered countertrend because you’re above the moving average. You could have scaled out or knowing that 2:00 we don’t want to hold any long positions, you could have ridden this down really quickly to a 10 tick profit target.
And that was pretty much it for the day. You can kind of see the crossing of the moving averages going 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 and I’ll see you in the Shark Den in the morning.
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.
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, June 18th, 2012.
The market opened up this morning at 1330.25. We don’t trade the first 15 minutes of the day. Coming out of that 15 minute no trade zone we watched price action kind of chop around. We had a news report at about 10:00. Really kind of a non-moving. It was within consensus range. Market continued to work its way upwards.
We really didn’t have any opportunities to get in until right at around 10:30 or so, an opportunity to get long. A little premature. We didn’t quite wait for the pullback to the moving average. Took a stop out of minus 8 ticks and then we waited for a much better nice cleaner setup right here. Target 1 and target 2 hit for a total of 10 ticks.
Then going in we noticed price action filled the gaps. A lot of sideways movement. We had a gradual sell off here, but it was a lot of sideways movement to chop. Didn’t really see any further opportunities. With the strength to the upside and the news from Europe we really didn’t want to try to take any long positions. I think these were just stop runs to the downside. And then we went into the no trade zone from 11:30 until 1:15 Eastern Standard Time.
Coming out of the no trade zone there was a nice burst to the upside and we were really waiting for some nice clean opportunities if you were trying to scalp, this would have been a nice clean countertrend trade. And then we had a follow on perfect wave trade setup to the long side. Target 1 and target 2 were hit for a total of 10 ticks.
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 and I’ll see you in the Shark Den in the morning.
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.
Account Update from Mirus Futures: Upcoming Greek Elections & Margin Update
Due to the uncertainty surrounding the upcoming Greek elections, there is the potential for extreme volatility when the markets open this Sunday evening, June 17th, 2012.
For this reason, Mirus Futures is increasing our day-trading margins to 3x the normal margin template for Currency Futures and the Dollar Index effective at
3:00 pm CT today, Friday, June 15th.
We will re-evaluate the margin requirement by Monday morning and expect to return to our normal margin requirements by 9:00 am CT on June 18th.
If you plan to trade this Sunday evening, we suggest a very cautious approach based on the possibility of extreme market swings. As always, our 24-hour OrderDesk will be available on Sunday night should you need emergency trade support.
This was contributed by a Shark Den Member – Cliff D.
Good evening traders, this is Brian with TraderShark.com, an educational website to learn how to trade the emini S&P futures. Today is Friday, June 15th, 2012.
The market opened up this morning here at 1328.25 represented by this white dotted line. We generally don’t trade the first 15 minutes of the day from 9:30 until 9:45. Coming out of the no trade zone we knew that today was going to be options expiration, futures expiration and options on futures expiration. That’s called triple witching. It’s also a Friday afternoon, so we weren’t really expecting much activity.
There was no trades here the first part of the morning until right here at about 10:30, which is also a reversal zone. Now we talked about this in the Shark Den, if you just took it from a, you know, black and white perspective, you may have gotten into this trade here. First target was hit, stopped out for minus 2 ticks. However, in the Shark Den we waited a little longer. My entry was right here on this particular timeframe at about 10:38. Had a long opportunity. Target 1 was hit and our target 2 was hit. And then we really didn’t know what was going to happen, just like we see in the past. You’ll see a run up and then a sideways consolidation. That’s exactly what we saw. Nice pullback to the moving average. And no further trades. So we only had one trade this morning.
Then we go into a no trade zone from 11:30 until 1:15 Eastern Standard Time. Coming out of the no trade zone had a nice clean pullback. Another opportunity to get long. Target 1, a little bit of heat afterwards. Target 2 was hit for a total of 9 ticks. Some people probably held onto this trade for a little longer for a total of 11 ticks depending on whether they were shooting for this double top or not.
We then had a slow grind up into the close. Another pullback to our moving averages. This is another situation where if you did just a plain black and white trade you would have got your target 1 off. Got stopped out for minus 2 ticks. But if you kept your stop in line with the way we talked about it in the Shark Den, you had an opportunity to protect yourself and have price action just gradually work its way into our profit target of 10 ticks. So all in all it was a good day, but it was Friday afternoon. So not many trades in the afternoon. Total of 3 trades for the day.
To learn more about these and more advanced setups or to get a copy of the Trader Shark trading manual, please visit TraderShark.com. Thank you and I’ll see you in the Shark Den on Monday morning.
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.
