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 futures, crude, and we’ll be starting gold next month.
The market opened up this morning here at 1777.25 represented by the white dotted line. Today is Tuesday, January 28th, 2014. We generally don’t trade from 9:30 to 9:45. The first 15 minutes we let everybody chop everybody else up. In the meantime we do have one, you know there’s exceptions to every rule, we had a pro-range reversal here for minus 4. Another pro-range reversal at plus 4, so we’re starting out with zero minus commissions this morning.
Coming out of the no trade zone, working our way up there was no setups, and then we had going into the reversal zone consumer confidence came out, which was within consensus range, so there was really little or no effect on the market.
However, earlier this morning at 8:30 the durable goods orders came out and that was below consensus range, so that kind of had a bearish bias on the market. Also, keep in mind that the three prior days were down candles. We do tend to see a pop afterwards. So it was kind of a mixed indication bias going into the day.
Had an opportunity to get short here off of our moving average. Got the first target off, got stopped out for minus 2 ticks. Continuing on, another opportunity to get long. Got the first target off, pulled back. Stop was a little bit too tight. Got stopped out for minus 3 ticks. Only to see us work our way on into the next profit target.
And then notice it was mostly sideways chop all the way in through 11:00 in the morning. Then just as we got a little bit of a break outside of our opening range we had an opportunity to get short, and I cut it short on purpose. I took 4 ticks, and it looks like we really could have got a lot more going into the no trade zone. I’m not a big proponent of trading after 11:30.
From 11:30 until 1:15 Eastern Standard Time we had a couple nice trades that I’m not going to mention since I don’t generally trade that timeframe. But there was some good profitable trades here in the no trade zone. You can see these double green dots were pushing higher, and then just continued to push higher. The indications were nice and clean.
Coming out of the no trade zone at 1:15, had an opportunity to get short got a full-stop out at minus 10 ticks in this particular trade. Hindsight is 20/20. There really is a lot of sideways movement on into the close. So was it trending or was it sideways? What you can’t see here are the Shark bands. We were bordering by Shark bands. We had specific targets.
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