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 S&P futures. Today is Monday, July 16th, 2012.
The market opened up this morning at 1348.25 represented by this white dotted line. We had a retail sales number that came in less than expected. And we actually tried to trade pre-market here. And I got stopped out for minus 4 ticks. The retail sales allowed for a selloff. And then we also had a news report coming out at 10:00.
Definitely got in a little bit early on this particular trade. I want to short the market at about 10:10. Generally the market will continue in the direction if we did not have a reversal. We did not have a reversal and as a result I got a full stop out of minus 16 ticks. And then crossing up through the moving average we had a nice clean pullback. An opportunity to get long. Again, a little bit early based on our indicators.
Today was a sideways chop. We barely had a Globex range of over 5.75, so we’re not expecting much movement. Also, this remained within our opening price range that was a little bit choppy. Any trades we took, you know, seemed to be aggressive at this point.
Took a minus 8 ticks on this particular trade. We had another trade to go long here. Got target 1 and target 2 hit for a total of 10 ticks. And then we went into what’s called a no trade zone from 11:30 until 1:15 Eastern Standard Time.
Breakout to the upside just a little after 1:45. An opportunity to get long. Target 1 and target 2. We did hit our target 2, which would have yielded us 10 ticks. However, once it hits it three times we’ll go ahead and we’ll move it in by 1 tick to take a profit of plus 9 ticks.
And that was it for the rest of the day. You see a lot of sideways movement. A lot of chop. Momentum. Did not see any real clear opportunities to get into good trades in the afternoon. So hopefully tomorrow we get a little bit better price action.
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.
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.