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, July 25th 2012. The following are a few examples of trade setups that occur on a consistent basis. These trade setups are described in detail in the trading manual and in the live daily Shark Den where we discuss more advanced trade setups.
The market opened up this morning at 1336 represented by this white dotted line. Initially about 9:33 we had an opportunity, we don’t generally take a trade in this no trade zone unless we get an opportunity for a setup towards our gap fill. In this particular case we did have a setup and it went quickly against us. We took a stop for minus 8 ticks. And that’s 4 ticks per contract.
Coming out of the no trade zone there was just a grind lower and at around 10:00 we did have a news report. By 10:10 we did not have a reversal and expected a continuation to the downside. A nice pullback right here at about 10:30 for an opportunity to get short. Target 1 and target 2 were hit for a total of 10 ticks.
And the market did continue to sell off all the way down here to our hourly range low. Right around 1327. We had a nice clean bounce. Pullback. Target 1 and target 2 hit for a total of 6 ticks before going into the no trade zone. No trade zone’s from 11:30 until 1:15 Eastern Standard Time.
We then had price action continue to work its way to the upside. There was really no reason for it. And you’ll notice we found a little bit of resistance at the opening price. Broke its way through opening price. Found support. Ran sideways for a little bit. And there was really no opportunities we could see to get in. The sideways chop really rendered a lot of the indicators useless until we had a selloff into the close. We had an opportunity to get a total of 6 ticks here and then another opportunity to get short for a total of 5 ticks. 11 ticks before we got into the close.
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.