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 Wednesday, August 8th, 2012.
The market opened up this morning at 1392.5 represented by this white dotted line. We generally don’t trade the first 15 minutes of the day from 9:30 until 9:45 unless we have a trade in the direction of the gap fill. In this particular case we talked about it. Some people were able to take it. But we did not have a trend established, so we were able to just scalp out about 6 ticks on this particular trade. The previous Globex range was narrow and we kind of had an idea that today may be a consolidating day. As a result we wanted to be very cautious and be very specific as to our trade plan setups.
We went on into the day with little or no movement until right here about 11:00. We had a nice break through the moving average. Pullback. And then there was actually one and two opportunities. We had our wave trade setup. You can see the green dot that came in right here. As well as another opportunity. If you missed that first, a second opportunity to get in long. So a minimum of anywhere from 10 to 20 or 22 ticks on that particular trade.
And it did work its way up higher. I know some traders held on to this all the way into the end of the day. However, going into the next no trade zone from 11:30 until 1:15 Eastern Standard Time. We don’t trade. It’s just a period of lower volume and higher volatility.
Coming out of the no trade zone I want you to notice, even though we had a little bit of a selloff from the moving average, we had relatively a flat market. We don’t generally take our wave trades when we’re below the moving average, so disregard that. And went into the close with no further trades. So we basically had two trades, if you caught the first one at 9:30 this morning and a second trade about 11:00, that was it.
I want to thank you for watching. To learn more about these and more advanced trade setups, 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.