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 Thursday, August 16th, 2012.
The market opened up this morning here at 1405 represented by this white dotted line. We then have an opening range mostly when price action is within the opening range it does tend to be pretty choppy. We did have a nice little pullback for an opportunity to get short here just before 10:00. Target 1 and target 2 were hit for a total of 8 ticks.
And then as price action worked its way towards opening price, we don’t like to trade in through here, just tends be unpredictable. And breaking out of the high low range, we had an opportunity to get long. And our stops got pretty tight here. Had another internal indicator that kind of told us to get our early. Took a loss of 4 ticks. A total of 2 ticks per each contract. Scaled out early and only to watch price action continue on in our favor.
We generally don’t trade during the no trade zone from 11:30 until 1:15 Eastern Standard Time. We have a period of low volume we’ve seen over these last two weeks. So we do tend to keep our stops relatively tight. And as a result there was a nice move up during this no trade zone, which by the way, about 70% of the time will tend to rise.
Coming out of the no trade zone, nice pullback to our moving average. This did not give us an opportunity to get in long, but then our second pullback here gave us a nice clean entry. Target 1, target 2 hit for a total of 10 ticks. And that was pretty much it 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 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.