Learn to Day-Trade the Emini S&P Futures

Daily Trading Video – Aug 30, 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 and the Euro futures. Today is Thursday, August 30th, 2012.
The market opened up this morning at 1402.25 represented by this white dotted line. We generally don’t trade the first 15 minutes of the day. We do occasionally take trades in the direction of the gap fill. In this particular case we had an opportunity to get long. Target 1 was hit. This was considered a counter-trend trade. So if we took this trade according to the textbook, you would have got your target 1 and target 2 for a total of 6 ticks. However, if you were holding on for about the half gap level, did not make it and as a result took a minus 2 ticks. So the only way I can really write that is to say minus 2 ticks to total of plus 6 ticks depending on which trading scenario you took.
We then kept price action within the opening range. Had a nice opportunity to selloff. The news reports that came out this morning were within consensus range, so there really wasn’t that much effect on the market. However, in this particular case there was no pullbacks. We are pullback traders.
In this particular case we did have an opportunity to get short. We had an opportunity to get in on a wave trade here. Took a little bit of heat to the upside and another second opportunity to get in. So you could have taken both of these trades for plus 9 and plus 9 or if you just simply sold in here and held on, profit targets were hit. Second chance opportunity to hit in here for a total of 9 ticks. So I’m not going to count that as 18. I made 9 ticks on that particular trade.
Then once we established a bottom or a support level, which was right here at a key Shark band. We’ll see that in another video. We did look for an opportunity to get long. And you maintain a downtrend until your significant level is broken. Right here on this little ellipse, significant level was broken. We knew now we had a nice opportunity for a pullback to get long. Target 1 and target 2 for a total of 7 ticks. It’s yellow because I did not get a chance to take this trade, I was watching the Euro.
We then go into a no trade zone from 11:30 until 1:15 Eastern Standard Time. Coming out of the no trade zone there was a nice clean setup for an opportunity to get long. And actually the first target did not get hit. Did not get stopped out. And if you took this trade you would have easily gotten target 1 and target 2 for a total of anywhere from 6 to 10 ticks. Now, trading into the opening range was very risky. We knew coming off the bottom that we were going to look for opportunities to get long.
We then had an opportunity to get long here on an inverted head and shoulders trade. Now if you were holding on for the half gap level, you would have taken a minus 2 ticks. The standard profit targets were at 7 ticks and 13 ticks right up to the opening price. So again, it’s what we talk about in the Shark Den is some traders will hold on. More aggressive traders will hold on longer. Target 1 and target 2 or sometimes they’ll get into target 3 for another 13 ticks.
And that was it for the day. There was no real opportunities to get into this selloff after we came off the opening price. And then the final no trade zone of 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.