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 and the Euro futures. Today is Wednesday, January 22nd, 2014.
The market opened up this morning here at 1841.25 represented by this white dotted line. It was pretty much a sideways choppy day today, so we had a couple trades got off the opening range from 9:30 to 9:45. We generally don’t do any trading.
Coming out of this opening range we did have what’s called a pro-range reversal. Generally I only take one contract with that. It’s a one to one risk reward ratio and it also has, I traded 2 contracts at this point. First target hit, 4 ticks, a total of 8 on this particular trade.
Getting on into the morning, had another opportunity right here at around 10:00 to push higher. It hit the first target, for some of those people that got filled, that’s fine. If you didn’t get filled, one of our internal indicators told us to get out, so either minus 2 or plus zero on this particular trade.
Then we had a nice setup to the downside, I would have taken it again just based on the setup. You know hindsight’s 20/20. The only challenge is I took a full stop-out on this. Some people may have taken a minus 16, I took minus 14 on that particular trade.
As we continue on in the morning again we didn’t really have any follow through. We did have what’s called a hook pattern work its way to the down side, and it was somewhere between the 1048 to 1052 level for a continuation lower. Got the first target off, second target off, third target did not get hit. Forced ourselves out for 2 ticks on that particular trade. Got a total of 10 ticks. That was pretty much it for the day. You’ll notice the yellow arrows were nice setups that I did not take.
On here from 11:30 until 1:15 Eastern Standard Time, that’s called a lunchtime trading zone. I tend to not trade during that timeframe. Coming out of the lunchtime trading zone we did have a little bit of a pullback. Opportunity to get the first target off, got stopped out for the second target for minus 2 ticks.
And then you can, just taking a step back, looking at a higher timeframe, look at this sideways motion. We also had what’s called a tangled net here with the green moving averages.
To learn more about these and more advanced trade setups or to get a copy of the TraderShark trading manuals 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.