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 Friday, July 19th, 2013.
The market opened up this morning here at 1680.75 represented by this white dotted line. We had no news this morning moving the market. We generally don’t trade from 9:30 to 9:45, so we didn’t have any trades this first part of the day.
And again, just like a typical Friday, look at the sideways motion we had. We had a couple auto waves firing off here, was not interested in taking them. The market internals were not confirming for us to do that. We then had a nice little breakout, pullback, an opportunity to get long. From a conservative perspective, you would have flattened out and gotten no profit on that particular trade. But from an aggressive perspective holding on, we had some of the market internals were kind of reversing against us. And the only thing we really had in our favor was the old slow and quiet equals bullish type of mentality. And so if you held on through this little bit of a pullback, be able to make it a nice little profit up into 1684. And that would be a total of 9 ticks.
We then went into a no trade zone from 11:30 until 1:15 Eastern Standard Time. Look at the sideways motion here. Kind of supports the reason why not to be trading during that timeframe. Coming out of the no trade zone we had a nice little burst higher. Was not able to get in on that one. A pullback and then for a continuation here, again, right into the close from 3:30 on. Now I got out before getting into our final no trade zone for a total of 13 ticks. And this market just continued to squeeze, a short cover squeeze, all the way up into the 1690 level.
Let’s hope we get a little more volume next week. We are in the middle of earning season. Usually it kicks in about two weeks after the quarterly month. So June being the quarterly month, the second week of July we should start to kick in to a little more movement, activity next week I hope.
Have a great weekend. If you’d like to learn more about these and more advanced trade setups, please visit TraderShark.com and I’ll see you in the Shark Den on Monday 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.