Learn to Day-Trade the Emini S&P Futures

Columbus and Today – Oct 15, 2013

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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 Tuesday October 15th, 2013.
I’m going to show you what happened on Monday, Columbus Day from a higher timeframe chart. I want you to observe, generally the banks were closed on this day, but on holidays or bank holidays, prior to, the market tends to rise on lower volume. And I want to show you that we opened up here at around 9:30, and from that point we had a nice little trendline break from the overnight selloff. And then we opened up into our opening range. Nice little pullback. Still was within the opening range so I colored it yellow. Did not get into this trade.
Once we broke out of our opening range, pullback and that’s all she wrote for the rest of the day. So this particular was what we call a hook pattern, finally materialized. It started right here in the middle of our cautionary zone which is from 11:30 to 1:15. At about 12:45 the market launched and it finally completed its hook pattern right there at about 2:15. And then it never looked back it just continued to grind higher all the way into the close.
So let’s go ahead and go down to a lower timeframe chart here on today, Tuesday, October 15th. The market opened up this morning at 1700.00 represented by this white dotted line. We generally don’t trade from 9:30 to 9:45 Eastern Standard Time. Coming out of the no trade zone we did have an opportunity to get long. Not actually an opportunity, it was a setup, but we know from past experience trading around opening price can be choppy, so we avoided that.
Had another opportunity to get in long here at around 10:13. And then we had another opportunity to get in long right there behind it around 10:20. Got stopped out with the pullbacks. First target was hit, second target just stopped it out at breakeven. First target got hit. There was no follow through, a push higher to get more profit out of that.
As we continue to work our way in there was an opportunity to get in long. First target was hit and did not fill, came back out. Forced stop out, minus 4 ticks times 2 contracts, minus 8. And then coming in here right, just before 11:17, an opportunity to get long for a full target 1 and 2 for a total of 13 ticks.
Then we’re into the no trade zone from 11:30 to 1:15 Eastern Standard Time, notice the sideways motion. Still kind of hanging real close to this moving average. Coming out we had an opportunity at a sell off. This pullback was still within our opening range, so I did not take it. Another opportunity, again, this is later in the day. I generally don’t trade from 2:30 to 3:30 in the afternoon. In this particular case it was a nice clean setup. It was so obvious. I had to go for it. Target 1 and target 2 got hit for a total of 8 ticks. Working our way back up towards the opening price.
And then finally this was a nice trade, but going into that last half hour of the day. Only took 6 ticks on it. Didn’t know if it was going to follow through. The news reports are all over the place. You know, buying rumors, selling news. One time they’ll come out with a report and then they’ll come out and say they’re going to reject it. We don’t know. So we’re just doing the best we can. Still kind of staying in chop mode until they get this resolved in Washington.
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.