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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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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, November 8th, 2013. And I’m going to go ahead and show you both Thursday’s and Friday’s setups. Mostly because I was not able to produce that video for Thursday, November 7th.
The market opened up here at 1770, represented by this white dotted line. We generally don’t trade pre-market and we generally don’t trade in this no trade zone, but there’s always an exception to a rule. And with this exception we had an opportunity to get short pre-market. And then I forced myself out at the entry price. And I think there were some market internals that kind of convinced me to do that. But it did actually materialize into target 1 and target 2.
Right there at 9:30 it opened up here at 1770. We had a pro-range reversal, 2 of them. Did not quite hit those levels. Coming out of the no trade zone, continued lower. An opportunity to enter with 2 contracts short. And then add on to our position another 2 contracts here for a total of 31 ticks, 13 and 18, 31 ticks. A little bit of a pullback for continuation, a total of 5 ticks on that trade. Nice pull back here. Don’t generally go into the 5th wave. Let them go without us.
Lot of sideways motion. Working our way into the no trade zone from 11:30 to 1:15 Eastern Standard Time. Coming out of the no trade zone for a continuation lower. Notice we stayed on the side of the moving averages. Then once we get across, I did not take advantage of that sell off there. Went sideways until one final opportunity right here at about 3:30. Opportunity to hit target 1, target 2 for a total of 8 ticks. And then on into the close at 3:50 Eastern Standard Time.
Okay, so this is November 8th on Friday, today. The market opened up here at around 1743.25. And I’m showing you a higher timeframe chart because today the winner trade of the day was actually here at right at about 10:30. But I’m going to show you from the higher timeframe chart, even though we had a small trade, once we got out of our opening range here for a total of 6 ticks and then we had a nice little hook pattern. Again, the opening range is wrapped right around opening price. The breakout, the entry right there was at around 1756. And again, this was more of a longer term, deeper pocket trade. You got to be able to weather a draw down. A pullback to below this swing level. And your first target, second target, third target hit here at the end of the day going into 3:30 to 3:45 at 1763.75.
You could also do micro trades in between the longer timeframe macro trade. And of course, this trade here I went short. Big mistake. I knew it when I entered it I was trading against the volatility. My other market indicators were telling me to go short, but my volatility index was saying stay long. You heard never short a dull market, right. Well I shorted it. I got hammered, minus 16 ticks. And then what did I do. Now this one has a nice setup. I got my first target off. But I got my first target off and got stopped out for minus 2 ticks.
And then on into the close. I prefer to wait for a higher volume timeframe like 3:30 to 4:00 into the close. And that’s exactly what we got, nice burst. And I said if this is going to push any higher, once we broke through this 61 level, we were more than likely going to see 67, and that’s exactly what we saw before the final close.
Now today wrapped up our 2 day free trial. We had a webinar on Wednesday. Free trial Thursday and Friday. I have some webinar specials. I said I was going to have it shut down by midnight tonight. I’m going to extend it until midnight Saturday night because I’m getting this video out so late. So if you’re interested in taking advantage of this special, TraderShark.com. Go to the Home tab, right there it says Webinar Specials. Click on that. And what you’ll do is you’ll get a screen like this, you can scroll down. Disregard the free trial that’s over with on the 7th and 8th. On Monday and Tuesday we get the free trial for the oil den, the Shark Den and crude. And then you have an opportunity to get the three trading manuals plus the Euro trading manual for $129. And then right here you’ve got two months for the price of one. So take advantage of that now. The next class may be in December. If not, the next webinar, the free trial, may not be until January.
To learn more about these and more advanced trade setups or to get a copy of the TraderShark trading manual, please visit TraderShark.com. Thank you. Have a great evening, and I’ll talk to you on Monday 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.