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
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, October 25th, 2013. I’m going to go back three days; I have not had a chance to keep up with my videos. I am in the process of a move. I’m going to be moving about 40 miles away from here and so I’ve been packing.
And with that I’m going to show you Wednesday, October 23rd. And we were looking for a Shark attack setup this whole day. We talked about a target of 1743.75 and 1745.75 at around 10:15 in the morning. Tried to launch right in through here, got stopped out for minus 12 ticks. Ouch, that hurt. And then all of the sudden what we did is, we had a hook pattern to the downside, but I still had a bullish bias. Our indicators were still giving us some head fakes to move higher. Had another failed hook pattern, did not develop. And then another pattern developed right here after the lunchtime no trade zone, got 6 ticks off of that one. Still did not launch high enough to get our profit targets.
And then we thought we were going to get that right at about 3:15 in the afternoon Eastern Standard Time, hit the first target 1743.75, but did not get filled. Came back and stopped me out for minus 6 ticks, and that will happen sometimes. And then guess what happened, right here at exactly 4:01 in the afternoon this thing launched and it went through the 1743.75 and then up into the 1745.75, exactly what we thought. So we traded, we had good trades at the wrong time.
Let’s go ahead and go on to the next day. This is Thursday, October 24th. And I want you to notice we had a strong selloff over the Globex range coming into the opening range and we really didn’t have any trades to start out in the morning. Right there about 10:30 just before the no trade zone had an opportunity to go long, got stopped out for minus 4 ticks. Another opportunity in the lunchtime no trade zone. I was still trying for it because of the hook patterns that were setting up and tried to get in there, got stopped out for minus 4 ticks.
I know that’s not impressive, but you know what? This week has been just a choppy week and I want to show you that, you know, I’m a real trader just like everybody else. I take the losses just like everybody else, but on this particular case we were following our rules. And I want you to stick to the rules because they are consistent. And had another opportunity for a hook pattern. Another opportunity for a hook pattern and got only 6 ticks on that final one and then going into the close very quiet.
Let’s go ahead and look at what happened on Friday. This is Friday. This morning we opened up with little or no movement with a narrow opening range, and there were literally no trade setups. As long as you get stuck between the opening range. These Shark bands were tight to the high side. Looking to get through to this break out to the downside to find support. Just nothing was developing. We had low volume all day. No pullbacks. No opportunities to get in. We were looking.
And then one good trade all day happened right out here. If you still held on to the trading day, 3:35 there was a nice little breakout for a continuation of target 1 and target 2 for a total of 10 ticks. If you were trading at that time of day.
And so if you have any questions, you’d like to learn more about these type of trading methods, please feel free to check out TraderShark.com. If you’d like to get a copy of the trading manuals you can also get them there. Have a fantastic weekend 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.