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 S&P, Euro and crude futures.
I’m going to go through Thursday and Friday’s trades. We had a free trial this week and of course Murphy’s Law hit. Bad news came out; market went up. Good news came out; market went up. Lot of sideways chop. We also had options expiration.
This is Thursday February 20th, 2014. This opening price here is 1827.50. Coming out of the no trade zone, we generally don’t trade from 9:30 to 9:45. Got an opportunity to get short; had a no fill. Just did not fill me in. I’m not one for chasing trades.
Continuing on into the morning, another no fill. You can see our nice auto wave fired off. Had our buy order in there and it did not get filled. And then had another opportunity to get in. Got my first target off and then got stopped out by market internals for plus zero. And then this is a hook pattern, which is considered an aggressive trader’s trade. Had an opportunity to get in at the highs, then got tagged for minus 4 ticks on each contract, so a total of minus 8 on that.
So starting out the morning was pretty rough. At 11:30 until 1:15 Eastern Standard Time gradual grind higher and then coming out of that we have a nice little 2:00 trade. This was a nice 2:00 trade setup. It did not sell off. Generally see about a 3 point pullback here. Did not. Got our first target off. Got stopped out for minus 1 tick.
While we may not have been profitable, we certainly were very protective of our PNL and we took minor losses today. You can see this right into the afternoon on Thursday afternoon sideways chop right into the close. 3:50 until 4:00 PM Eastern Standard Time is our final no trade zone.
Now let’s go ahead and look over at Friday. This is Friday, February 21st. Almost identical setup on a couple of these trades. Also, it was options expiration. And I know, I’m human, right? It didn’t really dawn on me when you first started trading, but this is options expiration Friday. I never trade on options expiration Friday, but I did today. Let’s go ahead and see what happened here.
Opening up at 9:30 to 9:45, again this is Friday. Coming into our first 15 minutes we don’t trade. Going until 2:00 mistake, I realized it afterwards and hindsight is always 20/20. But this is right in the middle of a reversal zone. We don’t know it’s going to reverse until about 10:10 in the morning. This is right at what, at 10:03, and I went long. Got my first target off, got stopped for two ticks.
So again in hindsight had another opportunity to go short, what do we do? Went short right into another reversal zone, 10:25 to 10:30. I know it’s not funny, but it’s real. And certainly took these losses live in front of everybody. Going on we had our pull-back above our moving averages, nice. Had an opportunity to get long, but I want you to see, this took a little bit more pressure. Look at our trendline wave trade breaks. The difference between a zero line and an oversold area for continuation higher.
I want you to see this 6 ticks was well-earned, took a little bit of heat to the downside and this second 6 ticks, this is if you’re trading 2 contacts and you trade another 2 contracts putting 4 contracts in long. And it’s pretty aggressive, 2 and 4; a total of 6 ticks, not much. And then right, immediately after that identical trade setup, hook long aggressive. Took a minus 4 ticks on 2 contracts. Again, still maintaining a good money management and maintaining a good relative profit loss. No, we’re not going to be perfect at winning every day. This week was a rough week for us, no doubt.
11:30 to 1:15 Eastern Standard Time, look at the sideways chop. Now ordinarily I would say, no trading on options expiration day. So we kind of watched it, we did see some sideways motion. We saw minor megaphone patterns. An opportunity to get short in through here, thought we were going to have some heavy sell off. Why? Because of the news report earlier. Got our first target off, took a stop of minus 4 ticks. And then this is the one that hurt the most. We don’t see these very often, but I took a full stop out; 16 ticks, 2 contracts, 8 ticks each. It was a $200 loss right there.
Going on into the day pretty much thinking we’re done, and right in towards the end we had a hook pattern short. I know it was a very aggressive trade. I popped on 3 contracts on this particular trade, T1, T2, and T3. T3 was not hit. T1 and T2 were hit. As long as you’ve got your first contract off you can hold it on into the no trade zone. Both first and second contracts were hit. The third contract was not and we forced myself out before this market were to go sideways into the close. So hope you enjoyed that.
If you are interested in taking advantage of the webinar specials, please feel free to go to the homepage on TraderShark.com. And touch that Home tab and you’ll see Webinar Specials will drop down. The webinar is still up and running, and also the specials. Currently what I have right now is the free trials are over for this week. Try to get something first part of March. And then the trading manuals, all four trading manuals for $149. And then I’ve got two for one special on the Shark Den. So come join us if you want to see this. If you want to do another free trial let me know. We’ll go ahead and get that setup. I know we had some challenges this past week.
Thank you. Look forward to seeing you in the Shark Den. Here’s to a profitable trading week ahead.
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