The Shark Den will be closed Monday in observance of Martin Luther King Day. All US markets will be closed Monday.
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Uncharted Territory – Jan 17, 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.
Daily Trading Video
TraderShark Trading Manual
To successful trading,
TraderShark
[email protected]
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, January 17th, 2013.
We had two news reports out at 8:30 this morning Eastern Standard Time. The employment situation and the housing starts. The housing starts was much better than expected and it initially took off. We don’t trade the news report itself, but what we do take reaction to the news report. So with this initial burst, the actual open of the U.S. market at 9:30 put us in a situation we were pretty close to I think 7.75 points gap up from yesterday’s close. With that situation we have what’s called a tidal wave setup.
The market opened up this morning here at 9:30, 1473.50 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 had a couple nice auto waves kick in. I did not take them. Too close to news reports. I had another news report here at 10:00. And then if you did take this you would not have gotten stopped out. I prefer to wait for a little more of a break and a pullback and we got that here.
I got shaken out a little bit. I got my first target off and then my second target came back and got me out at breakeven. I got 2 ticks on the first trade right here at about 10:14. You can see we had a nice clean trendline break here on our momentum indicator.
As we continue on I had another pullback to the moving average, it was another opportunity to get long. Didn’t even get my first target off. Went sideways. We had other market internal indicators just told me to get out. I did. I flattened out. Cost me commissions, but I got no profits on that.
We were waiting for a nice clean setup for a long position in a tidal wave trade, trading 1 contract or 2 contracts, whatever you wish. In this particular situation we did have a nice opportunity right here at about 11:20. Much cleaner entry would have been right here at about 11:46. We generally don’t trade the no trade zone. There’s exceptions to every rule and in this particular case if you got in here before, that’s great. The target on this was up here around 1479.50. We talked about it all morning.
We had a couple of hook patterns to the long side. We generally don’t trade from 11:30 until 1:15 Eastern Standard Time. That is considered a no trade zone. I want you to notice here that there was a nice clean auto wave that fired off and it matched with what we were looking at, a potential hook pattern long. And I actually was in here held it through the no trade zone. Went off. Did my errands. Kept them there with a trailing stop, and rode this thing all the way up to 1479.5. Actually, I think I scaled out right around 1479, 1478.75 somewhere around there.
So 23 ticks on that trade. But just because you’re in 1 trade doesn’t mean you can’t get into another trade. So we
had another setup right here at about 13:38 or 1:38 PM Eastern Standard Time. And then when you’re in with the trend, target 1 and target 2 were hit for a total of 12 ticks.
Once we hit a major resistance level, or a Shark band, which we have on the other charts we knew that we were due for a type of retracement or a selloff. Right here, another opportunity to get short. This is counter-trend trade, so you keep your profits a little bit tighter. Total of 6 ticks. And then our selloff or profit taking 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.
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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.
To successful trading,
TraderShark
[email protected]
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.
Trading Video – Cliff Averted – Jan 2, 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.
To successful trading,
TraderShark
[email protected]
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, January 2nd, 2013.
Happy New Year to everybody. We had the fiscal cliff was averted. We did not go over the cliff, but of course we all have higher taxes to pay. Regardless of my political opinion, we were very cautious with today’s trading. We had a nice run-up overnight, from the new year until this morning. You can see how our Globex range was about 24 points and as a result we were expecting the market to continue higher. With the expectation of the market continuing higher, we had a very narrow opening range.
This was a fake out breakout. You can kind of see this little blue ellipse I drew. As soon as this significant level was broken we should not be trying for any further upside movement. And that’s exactly what happened. We had a retracement back to a Shark line. As price action continued to work its way further to the downside our tick chart remained above the zero line. We did not take any short positions even though we had a couple hook patterns setting up to the downside they did not materialize. We had no trades this morning.
Between 11:30 and 1:15 Eastern Standard Time we had a no trade zone and shortly after that we had a nice little inverted head and shoulders pattern that initiated right here at about 3:00. A trade opportunity right there at about 3:12, 1448.75. An opportunity to get long. Very challenging opportunity to try and go long in the middle of the Shark band. But we knew we had good news this morning, sell off after the news 10:00. And we were just waiting for an opportunity to get long, 1448.75. Opportunities to get long.
Our target, first target is right here at around 1450.50, second target 1452.5. I scaled out one of them at 1452. And then if you had a runner, you had an opportunity to make anywhere between 23 and 43 ticks, just on this one trade. When we were at there 1452.50, I said this in the Shark Den, I said there’s no overhead resistance. Our first target beyond 1452.50 was 1455, and after that 1456.50. So there was many opportunities if you had a trailing stop working your way up, all the way up here to 1457.50.
Now these trading the last couple days has not been easy based on the news that comes of Washington. You know, it’s up one minute, it’s down the next minute. We never really know except to rely on our indicators. This is a great situation where trade what you see, not what you believe. So what we want to do is we want to stick with the opportunities that our indicators are giving us. Not what we feel. Or not what we’re hearing in the news media. If you’re trying to trade based on what you hear on the news media you would have gotten crushed several times here to the downside. And if you do not trade in your opening range, that’s fine. You could have waited until a break out of the opening range. And then once you break out of this opening range there’s no resistance up in through here. So it’s just these Shark bands up here are like magnets, and price action pulled right up to it before it sold off for the day.
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.
Shark Den Holiday Schedule
The Holiday Schedule for the CME shows being open December 31, 2012 until 1pm EST.
The Shark Den will be open on Monday, December 31, 2012, from 09:30-11:30 EST.
We will be closed January 1, 2013 and reopen 09:30 on Wednesday, January 2, 2013.
Monday will be a lower volume day and not expecting much price action movement. The only reason we will be monitoring it is because on Sunday, no specific resolution has been seen to the Fiscal Cliff and the volatility may offer opportunity. Make sure you are out of all positions at least 15 minutes before market close.
New traders should not be trading on lower volume days.
To Successful Trading,
TraderShark
www.TraderShark.com
[email protected]
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.
Dec 21, 2012 – No End in Sight
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,
TraderShark
[email protected]
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, December 21st, 2012.
And since you can hear my voice, obviously the world has not ended. However, last night around 7 to 7:30 I think the announcement from Boehner and his budget proposal had not passed the House and the Senate. And as a result we had a 50 point selloff in the S&P. Now again, this was last night.
So let’s go ahead and move forward to this morning. This morning the market opened up around 1418.75. That’s represented by this white dotted line right here. And we generally don’t trade from 9:30 to 9:45. It’s just a period of higher volatility. You know, the bulls and the bears are battling it back and forth. We do have one specific setup that we do take and this was in the gap fill direction. We did have an opportunity to get long right there at about 9:36. Target 1 and target 2 were hit for a total of 13 ticks.
As we went on into the morning we had a lot of sideways movement. You can see this indicated here. And we took no trades until a nice little break out above the moving average, to the long side. Target 1 and target 2 hit for a total of 10 ticks. And then if you miss this entry here we have what’s called an auto wave. Here what’s called an extended wave trade. You’ll notice how the momentum indicator is in the overbought section. So you can do a market order long here. If not we had a specific limit order going in on the auto wave. And either one could have yielded 10 ticks. If you got both of them you could have yielded as much as 20 ticks on that trade.
We had price action move through the moving average to the downside. Nice pullback. Really didn’t get a valid entry until right there at about 10:52. And again, an opportunity for an aggressive trader. An opportunity for a conservative trader. Got a total of 7 ticks and that would have been on each one of those trades also.
As price action continued through we had another pullback. I generally don’t like to take two trading opportunities in a trend direction. And this was a third opportunity, so we cut our profit targets a little bit light. So we went for 2 ticks and 4 ticks for a total of 6 ticks before going into the next no trade zone.
From 11:30 until 1:15 Eastern Standard Time, again a period of higher volatility, lower volume. Remember today is options expiration and futures expiration and the last day prior to the Christmas holiday. Looking for a trading opportunity. We like to trade long if we have an opportunity from 1:30 until 2:00. Did not get a chance to get into this trade here. Found our end, it was there around 2:00. Just what we watch pretty consistently. A total of 8 ticks to the downside.
Working our way back down to the moving average. Got out of the position. A lot of sideways motion. And then here we go going into the close of the day, from 3:30 to 4:00 nice run. Total of 11 ticks on one trade. Total of 7 ticks on another. Cut it short here because we were running into yesterday’s low. We weren’t sure whether it was going to push up through or not. But as a result we had a conservative close into a nice holiday season.
I want to wish everybody a Merry Christmas for those of you that celebrate it. A wonderful holiday season. I’ll see you back here on Wednesday morning, on December 26th.
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.
Improve Your Trading Results!
I recently had some questions from traders asking how to turn around their trading results.
Notice I did not say “Losing Streak.” I prefer to say “Trading Results.” By simply changing a couple words, notice how that sounds and makes you feel. Changing your vocabulary plays an important role in conditioning yourself for a successful business.
Improve Your Trading Results?
1. Understand that losses are normal and that everyone goes through them, even the professionals.
2. Know that challenging trading days will eventually end. If they don’t, then you need to make a correction in your trading style and methodology.
Take a deep breath and relax. Go do something you haven’t done in awhile that you enjoy. This will help clear your mind. If nothing else, take a nice walk in the woods or around a lake where nature abounds.
3. Go back and review the trades that did not produce winning results. Feel the pain again. See what you did right and determine what you could have done differently.
4. Ask yourself new empowering questions. For example, “What can I do different next time to make this a winning trade?” You will be amazed how your brain answers these questions. It is a conditioning process. If you do not condition yourself to win, you are conditioning yourself to lose.
You will notice that most traders say, “Oh, why did I do that?” or “I’ll never get this to work.” Bad questions and bad statements… and… your brain will answer those questions. Change the questions you ask yourself to be constructive rather than destructive to yield improved results!
5. Go back to simulator trading. Make it fun, give your significant other $5 or $10 each time you lose a trade. Wouldn’t it be better to give it to him or her rather than to the market.
And whether you know it or not, you just created an accountability partner. You may or may not like this, but it will certainly help make you a better trader. With someone holding you accountable, you will tend to pay more attention to your trading as a business rather than just a hobby.
6. Go back to the basics. No matter what trading system you use, focus on one trade setup at a time and master it before proceeding on to the next trade setup. In my case, I like to use the CCI and the ADX combination to support winning results. Remember to take quality trades, not quantity trades.
7. Stay with the trend, NO COUNTER-TREND TRADES. You have been told this time and time again and yet, some of you still take counter-trend trades. Counter-trend trades barely have a 50% win-loss ratio. Enter a trend trade on a pullback. Buy on fear, sell on greed.
Observe where price action is in relationship to the moving averages. Use a directional indicator with moving averages to help keep you on the trending side of the market.
8. Reduce your contract size. Trade only 1 contract per $3000 in your trading account. You need to preserve the capital in your account in order to be able to come back and trade another day. At the top of your trade log, there is a profit target and loss limit. Use them and stick to them.
9. Reduce the number of trades you take per day. Learn to SOH (sit on hands) more often. I have noticed that when I trade 10 or more times a day, I tend to lose more money. This is sometimes called “revenge trading.” However, when I trade 2 to 5 times a day, I end up in a much more profitable bottom line.
10. And last but not least, go back to the Trading Manual and review the step by step instructions. One step that is very important is your trading environment.
Inform your “outside influences” that you still love them, but during this time, you need to concentrate on your business. I cannot count the times I have been told that “I missed a trade because someone was talking to me” or “I had to let the dog out” or “My spouse just came in to ask me a question” … you get the picture.
I hope that helps you re-focus back to trading as a business and not just a hobby.
To Successful Trading,
Brian Rehler
Trained Life Coach and Trading Mentor
www.TraderShark.com
[email protected]
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.
Discreet Investors Endorses TraderShark
If you are a longer term investor looking for a higher return with safety of your investment capital, check out Discreet Investors and learn about Deed of Trusts.
To read their December newsletter, click here, also endorsing TraderShark.
To Successful Investing,
TraderShark
Dec 18, 2012 – Santa is Coming!
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,
TraderShark
[email protected]
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, December 18th, 2012.
The market opened up here this morning at 1427.50 represented by this white dotted line. We generally don’t trade from 9:30 until 9:45. Coming out of the no trade zone, an opportunity to get long right here right at about 10:18. Trade for a total of 6 ticks. Target 1 and target 2 were hit. And then shortly thereafter another auto wave setup. Notice the green dot jumped in here for a total of 17 ticks. Some people that had a trailer followed this thing up and as we followed it up we had a nice little break out of our opening range. We had what’s called an extended wave trade long. Another extended wave trade long, and just continued to push higher.
We had what’s called a hook pattern appear in the Shark Den. It ran its way into a couple different of the Shark bands and we were trailing it. Working our way up into this flat level here right around 1434. And did not catch any of this little extended move before going into the no trade zone.
No trade zone from 11:30 until 1:15 Eastern Standard Time. It’s just a period of lower volume, higher volatility. As we got in here I want you to notice, as this momentum indicator got into an extended overbought position that market just continued to push up deeper. Now we don’t trade during the no trade zone. Some traders do, I choose not to.
Coming out of the no trade zone we had a move below the moving average. Across. An opportunity to get, got target 1 off. And then started to see it pulling back, flattened out for minus 2 ticks, a total of 0 on that particular trade. And then another clean pullback right here. Did not get in on this one. Notice the entry. We had a nice little pullback here. Was able to just snag a little, about 6 ticks on this particular trade, 2 ticks and 4 ticks to the downside. Wanted a deeper pullback, but when this momentum pushed to the oversold position we knew it was just going to continue on in that direction. And right there pulling back from the highs of the day.
Sideways it didn’t look too choppy, but it really didn’t give us any other buying opportunity until right there in the end. We had an auto indicator long. We had a feeling the market was going to push back up into the highs of the day. Ended right around 1443 and then went sideways. So we got a total of 17 ticks on that last trade.
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.