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 futures on the S&P, the Euro and crude. Today is Monday, February 10th, and Tuesday, February 11th.
This is looking at Monday’s screenshot. And this is on a higher timeframe chart. I just want you to notice there was a lot of sideways motion; we stayed within our opening range. There was an opportunity to get long right in here, first thing in the morning. Right there just a little after 10:00. And I took a full stop out at minus 14 ticks. Had another opportunity to get short right in here, just before the lunchtime zone, took a minus 2. And then there was another trade. We were talking about once we got above that 1790 level to watch for the 1800 level to be reached and it didn’t actually occur until after around 8:00 that night in the Globex range. There was also I believe another trade in through here where I got a reduced risk stop out of my minus 2 and 3 here.
Let’s go and look at Tuesday. This is Tuesday morning here. We had pre-market, we have one trade setup in the room. We watch as it works its way toward the gap fill, which is down here around 1795. And that was good for 12 ticks. A lot of traders were not in the room yet until about 9:30. We then had what’s called a pro-range reversal for a total of 4 ticks here. The market opened up this morning at 1796.25 represented by this white dotted line.
Coming out of the no trade zone we had Janet Yellen speaking this morning at 10:00 and for the most part I prefer to sit on my hands during any time that the talking heads are live broadcasting. And that would be whether it’s the President or whether it’s the Federal Chairman and so in that regard I didn’t take any trades. I pretty much sat quietly on my hands. You know, a lot of traders wanted to try and play in through here, but it was not my idea of a good time.
We had one opportunity that was a really clean setup. The market internals gave us a second shot across the bow for a continuation higher. So textbook trade would have been about 9 ticks once you got into the lunchtime trading zone. And I was able to get in a couple of ticks a little bit earlier. Told everybody in the room that.
From 11:30 to 1:15 Eastern Standard Time is called a lunchtime trading zone. I generally will not trade during that timeframe. Coming out of that timeframe. We‘re careful about any long positions after 2:00. I actually got an opportunity to get into a short position, got my first target off. Got stopped up at minus 2 ticks. And then the market just took off. We were looking for opportunities, I want you to notice the wave trades were firing off long, firing off long. And then we actually hit the high of the day right there at about 3:20 or so. You just don’t see the highs of the day breached from 2:30 to 3:30 in the afternoon.
And then going into the close there was a final trade towards the downside and on into the close. So it was a relatively quiet day. There seemed to be movement in the market, but I sat on the sidelines most of the day because of the broadcast of the Federal Chair.
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 see you in the Shark Den in the morning.
Link to Video and Transcription