Learn to day-trade the Emini S&P and Euro futures – live with a full time trader.
This is for educational purposes only. It was designed to show a few of our trade plan setups to help reinforce your daily trade plan review.
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TraderShark
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, June 13th, 2012.
The market opened up here at 1313.00. We generally don’t trade for the first 15 minutes of the day. Coming out of the no trade zone, it looked like we had an opportunity to go long here. Some of the traders did take it. They took full stop outs. I did not get long. I colored it in yellow. Primarily because we had a selloff of over 8 points and also because I did not have the ADX confirming.
I then had an opportunity to get short, got my first target off, got stopped out for minus 3 ticks. There was another quick setup here right a little after 10:00 to get long. I did not get it. I got in a little bit late. You can do a follow up with your momentum follow through. Target 1 and target 2 were hit. Got a total of 10 ticks on that for a more conservative approach, 6 ticks, because again, we want to avoid staying within that opening range.
In this case price action continued to the upside. There was one trader in the room who actually was holding onto the price action and then just continued to follow the stops. This was a trailing stop we were showing as price action continued higher. Some of the more advanced traders were probably holding on for this to get a little bit, working its way up to the full gap fills.
Crossed the moving average to the downside. An opportunity to get short. Target 1 was hit. Got stopped out for minus 2 ticks. Into a no trade zone from 11:30 until 1:15 Eastern Standard Time. And then we had a selloff. Remember we had a news report this morning. It was bad news. Price action went up. We usually expect the news report to catch up in the afternoon. We were expecting a selloff in the afternoon, so we just took advantage of each one of these pullbacks. Target 1 and target 2 for a total of 8 ticks. Target 1 and target 2 for a total of 10 ticks. If you didn’t get that, another opportunity to get in here for a total of 6 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, 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.