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, November 16th, 2012.
Options expiration day. The market opened up here at 1352.25 represented by this white dotted line. We generally don’t trade from 9:30 to 9:45. Just a period of higher volatility. And it’s a period of time that we want to wait and let the bulls or the bears determine what direction they’re going to push the market.
We really didn’t see anything happening until right here at about 10:00. We had an opportunity to get short. Target 1 and target 2 hit for a total of 10 ticks. Once we established a low, broke the low, the low now becomes what’s called a significant level. Once that significant level was broken then we had set up for a potential Shark Attack trade.
Here we had an opportunity to get long. Took 1 target here at 4 ticks and then it just really didn’t materialize. It didn’t seem to act the way a burst from the bottom would. So only took 2 ticks on the second contract. Total of 6 ticks. Set back. Keep the powder dry. Wait for a better trade to come along. Really not much going on. We did test the bottom of the moving average. Dropped back below our significant level. Pullback. An opportunity to get short. Target 1 and target 2 hit for a total of 10 ticks.
We talked about this 1340 level. It’s actually 61.8% retracement on the weekly level. There’s a bounce. Going into the no trade zone from 11:30 until 1:15 Eastern Standard Time. It’s just a period of higher volatility and lower volume. But in this case we really left a lot on the table. There several reasons we don’t trade during the no trade zone. Primarily it gives us, you know, more of a discipline. A structure. It gives us a break away from the computer. And in this case this thing just took off like a rocket. A Shark Attack trade in the making. We saw it set up. It didn’t quite materialize until the no trade zone. I did not get any of this as it ran up in through the no trade zone, which is okay. That’s my trade plan. Other people I’m sure out there were trading during that time frame.
Coming out of the no trade zone we had a 2:00 timeframe that we don’t really want to have any long positions. Had an opportunity to get short. Target 1 and target 2 hit for a total of 14 ticks. This was not a planned trade. This was more of an art form.
Nice pullback. This was a nice clean opportunity to get short. Target 1, target 2 for a total of 9 ticks. And then we had a pullback to our moving average expecting to have a little bit further downside. Did not. Got tagged for about 14 ticks. I know it says 12 ticks. I lost 14 ticks on that particular trade. And then right behind it when you get stopped out in the opposite direction, an opportunity to set up target 1 was hit for 2 ticks. And then later on we got another 4 ticks in this particular setup.
Notice we had the auto wave trigger. Another opportunity to get long here. Just a basic wave trade. You got your auto wave and your basic wave. Took off. Worked its way up. Another pullback. We had what’s called an extended wave trade opportunity. Another extended wave trade opportunity. And the market just rebounded today. It was awesome. Pushing all the way up to the high side. Showing the strength of the last 7 days. We had a down market. Nice recovery going into a weekend.
To learn more about these and more advanced trade setups, or to get a copy of the Trader Shark trading manual, please visit TraderShark.com. Thank you. Have a great weekend and I’ll see you 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.