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, Euro and crude futures. Today is Monday, March 17th 2014. Happy St. Patrick’s Day everybody.
The market opened up here at 1843.75, represented by the white dotted line. I’d like to remind everybody that we are having a free trial tomorrow and Wednesday in the S&P and the Euro room. And then Thursday and Friday in the Crude room, which will soon be trading the NASDAQ in April. So please make sure you sign up for that. Send me an email or go onto the website at TraderShark.com. Click on the Free Trial, and we’ll get you signed up for that.
The market took off this morning we had a really wide opening range, over 10 points. When we have a 10 point range we know the market’s going to be sideways chop. Had a nice, this is really the only opportunity for a pull-back. An opportunity of 4 ticks on a tidal wave trade came all the way back, pulled us out at a 14 tick trail stop. So it had it as high up as 14 ticks, came back, stopped us out at plus 4. Had a hook pattern, also for 4 ticks. Little bit of a grind higher. An opportunity to get in here. Took a stop up for minus 2 ticks. And then we crossed through our moving average to the downside, but still there really wasn’t giving us many opportunities. We were trying to trade into the Shark band, into the opening range, which I will not do. And here we had another opportunity to get long. Another stop out, minus 2 ticks. Not a big deal. We kept safe as opposed to getting chopped up like the majority of other traders out there.
Going into the lunch time trading zone, had a little bit of a pop higher. There was a nice setup for an auto wave long. Coming out of there, I want to see the nice sideways chop here. The higher timeframe chart was certainly running 8 to 7 ticks per candle and that in itself was giving us a sideways chop indication. Look at the sideways, I mean it really wasn’t giving us any opportunities even on into the close.
So again, remember to sign up for the free trial. Have a great evening. To learn more about these and more advanced trade setups, please visit TraderShark.com
Link to Video and Transcription