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
Transcript:
Good evening traders, this is Brian with TraderShark.com, an educational website to learn how to trade the S&P, Euro, Crude, and NASDAQ futures. Today is Monday April 14th, 2014, one day before tax due date. Today was great, saw a lot of symmetry in the market. I do apologize for not getting any videos out for the last week and a half. I have been overwhelmingly busy, we have been revamping the website getting some new indicators created for you all. We will try to get a little bit more consistency, maybe try to get three videos per week for everyone.
The market opened up this morning at 1823.75, represented by this white dotted line. We saw a nice little pro-range reversal, I did not take it. The ones colored in yellow were setups that I did not take. This happened awfully fast this morning, but I am just trying to show people the consistency of the trade setups that we have in the room. We had another pro-range reversal down here, right there at about 9:37 for another four ticks. It is a one to one risk reward ratio, not much going on there. Coming out of the opening fifteen minute range from 9:30 to 9:45 is a no trade zone, except for that kind of pro-range reversal setup. Coming out of that, right there before ten o’clock, there was a nice setup but within three minutes of the news report we do not take any new trades. That is why I put a yellow arrow here, but it did setup nicely for a sell-off. Working our way back up through the moving averages we had a nice little pull back. I want to show you there were actually three setups. The one that I took was the middle setup for a total of nine ticks to the longside. Still running relatively sideways, I saw some resistance levels working our way up to the next SharkBand, an obvious number between 1824 and 1825. We had a total of eleven ticks, working our way right there from 1030 into the trending timeframe. Then we had a nice little pullback, and here is where a lot of people get confused they try to sell-off.
However, we jumped on for another ten ticks to the longside, working our way up into the SharkBand. There was another SharkBand up here at 1827, 1828. This is called a lunchtime trade zone from 1130 until 1:15 Eastern Standard Time. Coming out of that we stayed below the moving averages. I did not really expect it, but we had a kind of bullish bias but a nice little pullback into the moving average for a continuation lower. I did not get this trade, I was not expecting it. It was after the two o’clock timeframe in which we do expect a little bit of a sell-off. We stayed patient and stayed disciplined, we had a nice clean hookpattern establish right here at about three o’clock. Target one was four ticks, target two was six ticks and target three was 19 ticks, for a total of 29 ticks on this one trade. Following, there was another trade if you were looking to add on more contracts for a total of ten ticks here. We saw after the pullback a little bit of a consolidation for a continuation higher. If you trade off of the lows of the day, generally a counter-trend trade will go for six ticks. In this particular case I did put a little bit of a trailer on, for a total of twelve ticks. Working our way into the close. If you put in another trail stop heading into the run, we generally do not trade here from 3:50 until 4:15 Eastern Standard Time. We will be closed this Friday in observance of Good Friday, CME put out a news blast that all of their products will also be closed. To learn more about these and more advanced trade setups, or to get a copy of the TraderShark Trading Manuals please visit TraderShark.com. Have a great evening everyone.
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.