Learn to day-trade the Emini S&P and Euro futures – live with a full time trader.
Designed for educational purposes only to show a few of our trade plan setups to help reinforce your 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, June 19th, 2012.
The market opened up this morning at 1345.25. Still wheeling on the creation of the government over in Greece. The market is euphoric. We don’t trade from 9:30 until 9:45. Coming out of there we had an opportunity to get long on a trendline wave trade. Opportunity for 10 ticks easily from a static perspective. We had one trader in the room I think made 40 ticks, 10 points on this particular trade. He rode it for the whole day. Had a substantial trailing stop. The meantime we had what’s called an EWT, extended wave trade here for 9 ticks. And we had a TWT coming right behind that.
Continuing on price action dropped below our moving average. All these pullbacks nice clean opportunities to scalp a little bit if you’re interested. Aside from that no further trades in the morning. From 11:30 until 1:15 Eastern Standard Time we have a no trade zone just a period of higher volatility and lower volume.
And then right here at about 2:00, we don’t generally take any type of long positions. Nice clean setup for a short opportunity for anywhere from 10 to 15 ticks. In this particular case it is considered countertrend because you’re above the moving average. You could have scaled out or knowing that 2:00 we don’t want to hold any long positions, you could have ridden this down really quickly to a 10 tick profit target.
And that was pretty much it for the day. You can kind of see the crossing of the moving averages going 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.