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, the Euro, crude, and we’ll soon be adding gold to that. I want to thank you all for your patience; it’s been about a week and a half I think since I posted my last video. I recently moved from Orlando to Clermont, Florida. And with that move there is a lot of work involved. So I have not posted the videos. We are now grounded. The dust has settled and we’ll be posting these a minimum of three times a week. Hopefully try to get one every day.
I’m going to show you a higher timeframe chart to start out with. This is one day, from the start of the trading day, Friday, December 6th, 2013. This is the end of the day. And I want to show you just how the Shark bands are respected. Right here at 1801.25 is the opening price, and we quickly came down, did not quite touch our Shark band. Found congestion, consolidation here on our opening range. Dropped down for support. Continued on, got through the next Shark band. Again, this is within the opening range. Retraced, found support and worked its way back up to the next Shark band. Now this will make more sense on our lower timeframe chart. Let’s go ahead and check that out.
This is our lower timeframe chart. I want you to see right here at about 9:30 the market opened up, 1801.25 represented by this white dotted line. We had a nice little pullback into the open for a continuation down to a pro-range reversal. Got a total of 7 ticks on that particular trade. And then we had a lot of sideways motion. And as we continued back up through our moving average, a lot of consolidation area here within our opening range. And again, you can see what they were doing. Our internal indicators were telling us to stay out. Just a lot of sideways motion.
We finally broke away from our opening range down here, found support, retraced back up into our moving average for a continuation down in here. It actually penetrated our support level where we had what is called a Shark band. You saw that in the previous screen.
And then we had a nice opportunity to get long in through here. There was actually 3 opportunities to get long. There was actually a trendline wave trade counter-trend. There was a Fib trade. And there was a tidal wave trade. So depending on which trade you took you want to stay with the same parameters. A standard counter-trend trade we only go for 2 ticks and 4 ticks. Mostly because it’s a counter-trend. The Fib trade had its own profit targets there. I think we were at a total of 10 ticks on that trade. And the tidal wave trade yielded 28 to 32 ticks I think on that particular trade.
Broke through, worked our way back into the opening price. This right here is our lunchtime zone. Some traders prefer to trade it, I prefer not to. But I was still holding on to this position in the tidal wave trade for a continuation. Notice the sideways motion. Little bit of a break higher. Sideways motion, just like a runner after a long sprint, slows down. And right here, continued on up. Exit our trade right there around 1804, 1805, and 1806 for the high of the day.
And then here at 2:00, you’ll notice the vertical line. We generally don’t want to be holding on to any long positions, especially at the highs of the day. And this was another opportunity to short the market. This particular trade ran anywhere from 9 ticks, all the way out to a total of 16 ticks before a sell off from 2:00.
Again, it’s a pullback after a long run if they want to push this thing higher the market tends to pullback after that timeframe. And then we found support at a Shark band for continuation higher. And on into our final no trade zone of the day. So depending on when you exited or how long you held on to it, I did not take a final trade into the no trade zone.
To learn more about these and other more advanced trade setups, or to get a copy of the TraderShark trading manual, please visit TraderShark.com. Thank you. Have a great weekend and I’ll see you bright and early 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.