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 Tuesday, August 20th, 2013.
The market opened up this morning at 1645.25 represented by this white dotted line. We seldom take trades in this no trade zone from 9:30 to 9:45, but in this particular case, I actually took a pre-market trade. Told everybody we were going to take it. We had a nice cross to the downside, towards our gap fill for target 1 and target 2, a total of 11 ticks.
Coming out of the no trade zone we had a lot of sideways motion we really didn’t have any news pushing the market. We had the news about the Egyptian crisis. You know, some minor resolve going on over there. In the meantime there were really no trades taking off this morning. Reversal zone at 10:00, there really was no trend for us to see that.
By 10:30 there was a reversal zone. And I want you to notice, we had a nice clean significant level here. Did not clear this significant level auto waves fired off. We were setting up for what’s called a Shark Attack trade. Target 1 was set at 1651.50, the second target was 1653.50, so remember those numbers. Had two different trading platforms going off on this plus 10 on one of the platforms, plus 12 on the second platform. I got out a little bit early because I want you to see what happened here just before the no trade zone. We had a lot of sideways motion, sideways chop. Third opportunity to get into the trade. Got the first target off, the market internal indicator had indicated to get out.
Continuing on into the no trade zone, I want you to notice how price action worked its way up to the second profit target on a Shark Attack trade, 1653.50, I did not take advantage of that, but we did talk about it in the room. From 11:30 to 1:15 Eastern Standard Time is called a no trade zone.
Coming out of the no trade zone we had our market internal, our directional indicator telling us a lot of sideways motion and flat into the afternoon. That’s pretty much, there were no further trades. There was a nice moving average across here to the downside, but I was not able to get into it.
I also want to remind you we have free days in the Shark Den on Thursday and Friday of this week. I wanted to show you how to sign into it. Go to the TraderShark.com homepage. Go over here to the Home and right there it says Webinar Specials. We just had a webinar with the Festival of Traders on Monday. The webinar specials are available for everybody. Click on that Webinar Special. And what you’ll notice, is right there is your Shark Den trial. Click on that for August 22nd and 23rd. I look forward to seeing you.
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
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.