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 Monday, August 13th, 2012.
The market opened up this morning here at 1399.5 represented by this white dotted line. We generally don’t trade from 9:30 until 9:45. It’s just a period of higher volatility and lower volume. Lower volume we have seen for the last week or so. Today was the lowest that we have experienced, I think it was since December. And notice as price action stays close to the opening price we tend not to trade. Just a choppy timeframe.
Breaking down below the moving average we had a nice little pullback. Now I did not get in on this trade but the setup was very nice. You see the pullback on our momentum indicator and if you held on to it long enough you really could have gotten your full target down here around, what was it, 1395 or so, for a total of 10 ticks.
Now the trade I did take, I had an opportunity to get in a little bit later. You’ll notice we had our wave trade indicator kick off here. I got my first target, but my second target I kind of held on trying to get into the full profit of about 8 ticks and I did not get it. Came back. Stopped me out just before going into the no trade zone. I got a loss for minus 2 ticks.
Going into the no trade zone from 11:30 until 1:15 Eastern Standard Time. It was just a period of lower volume. Again, even lower than normal. And you’ll notice there was a lot of sideways action. Coming out of the no trade zone we still had what appeared to be as a bearish pressure to the downside. Had a nice opportunity to get in short here and actually I was a little premature. We didn’t get a full pullback into the extended area. Little premature. I paid for it. I took a full stop out with 2 contracts. Total of minus 16 ticks on this particular trade.
And then the market took off back up towards the opening price. No bounce there. Broke through. Came back. Found support on opening price. And then we pulled back towards the moving average for a continuation into the no trade zone. Into the end of the day.
There was a nice final clean wave trade setup. It was in a no trade zone. We don’t trade in a no trade zone. So I just wanted to show you so when you go back and review your charts tonight, you can see where there was a nice clean entry. I did not take this trade either. So we ended up down for 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 evening and I’ll see you in the Shark Den in the 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.