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 Tuesday, July 24th 2012.
The market opened up this morning here at 1345.25, which my white dotted line is not there. Go ahead and put that in. Just give us a reference point. We generally don’t trade from 9:30 until 9:45 and that’s the red zone here. No trade zone.
We had initial selling pressure to the downside due to the news reports we had, but we don’t really play any trades until we get a nice clean pullback. In this particular case we had a pullback for a total of 10 ticks. Another opportunity for 10 ticks. We generally will only play two positions in the direction of the trend. And as you’ll see we attempted a third trade to the downside, right here at about 10:23. And we got our first target out and got stopped out for minus 2 ticks.
We have been gravitating away from the countertrend trades, but in this case it was a nice setup. We had target 1 and target 2. Again, you’re only looking for 2 ticks and 4 ticks, and that worked its way out prior to going into the no trade zone from 11:30 until 1:15 Eastern Standard Time. We generally don’t trade. It’s got a period of lower volume and higher volatility.
And we pretty much did a lot of sideways movement, chop. Wrapped around our moving average. Had a little bit of a selloff. We were not able to catch. You’ll see we did have a wave trade indication there. Did not get a hold of that. Attempted another countertrend trade. Target 1 and target 2 hit for a total of 6 ticks.
Then we had a nice run type of Shark Attack trade right here at about 3:26, it was working its way, and we did not get a fill at the 1327 area. This is an area where you may have to keep your finger on the trigger. Slide it up into price action. This happened very fast. If you wanted to get in here, we had some traders that were able to catch on this and just hold on to it for a good 10 to 16 ticks. In the meantime we waited for an actual pullback. Target 1 and target 2 hit for a total of 6 ticks. And then it kind of worked its way up for the additional 8 ticks.
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.