Learn to Day-Trade the Emini S&P Futures

Daily Trading Video – Aug 10, 2012

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.

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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, August 10th, 2012.
The market opened up here this morning at 1394.5. This is a representation of a higher timeframe chart showing the whole day. Opening range, as price action remains in the opening range, it does tend to be choppy. Once we got a nice clean breakout of our opening range, we had an opportunity to get long into a hook pattern. Or on the lower timeframe chart you’ll see we had a couple wave patterns set up.
And then as we went on just before the no trade zone another opportunity to get long. And if you enter a trade before getting into a no trade zone, you stay with the trade. We just don’t want to enter any new trades during the no trade zone.
And then outside of the no trade zone another opportunity to get long and ride this thing up to the 1400 level, which was the hourly range high and then also the Globex range high as well as the hook pattern completion target. We kept those two lines in there. We had a lot of lines up at around 1402.5 and that’s exactly where it stalled for the rest of the day.
Let’s go ahead and take a look at the shorter timeframe chart. Okay, so here we’re looking at a lower timeframe chart when the market opened from 9:30 until 9:45 we tend not to take any trades. And coming out of the no trade zone we had some relative chop hanging around opening price, 1394.5. And then a nice little breakout for a pullback to our moving average for about 11 ticks on this particular trade.
We then broke through, this is a very fast move. It came through after our moving average. And we knew that the pressure was to the upside. Had another opportunity to get long right in through here, about 11:25, just prior to going into the no trade zone. So I want you to keep in mind from 11:30 until 1:15 is a period of time that we generally do not trade. And if you did stay in this trade you can get up to 16 ticks, which was a nice clean trade for a sideways choppy market as we’ve seen over the last week and a half or so. They talk about the July and the August doldrums, which is exactly what we’re experiencing.
Coming out of the no trade zone, so if you were able to get 4 ticks or 8 ticks on scalp trades, you know, be grateful. Some of these trades set up so nicely. This one is a minimum. We had 3 contracts running on this one. 18 ticks to 21 ticks on this particular move. If you did not get in on this wave trade, another opportunity to get in on this second follow up wave trade, right here to get long. And if you had the fortitude to hold on, worked your way up to the 1400 level right here. Notice how it stalled. Nice clean pullback to get some of those short sellers coming in and then they ripped it up against them. Ran up to 1402.5, which is where they ended the day.
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 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.