Learn to Day-Trade the Emini S&P Futures

Daily Trading Video June 22, 2012

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.

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Good evening traders, this is Brian with TraderShark.com, an educational website to learn how to trade the emini S&P futures. Today is Friday, June 22nd, 2012.
The market opened up this morning here at 1325.50 just a little bit above this white line. I put the line in at 1325. We generally don’t trade the first 15 minutes of the day from 9:30 until 9:45. We do however; take one trade in the direction of a potential gap fill. And in this particular case we had our stop really tight and with 2 contracts took a stop out of minus 8 ticks. I don’t know if you can see that above there. Just go ahead and move it so you can see it. We took minus 8 ticks on that first trade.
Coming out of the no trade zone we had a lot of sideways chop. We generally don’t trade within 1 point of opening price. And you can see how this sideways chop. We then had a nice breakout. We looked like we may have a continuation. Pullback to our moving average. Try to get long. Took a full stop out of minus 16 ticks on this particular trade.
Price action continued to operate in a very erratic choppy manner. And again, we knew it was expected. Today is Friday afternoon. As well as we just had a long run, 35 point run yesterday. And it’s just like you’ll see intraday. If you’ll see a run, then after the run you’ll see a sideways consolidation or breather or taking a rest type of movement. And that’s exactly what we saw.
The break down to the selling pressure we saw here. Really didn’t go strong enough for us to get anxious to jump on a short trade. And we went right into the next no trade zone with no further trades from 11:30 until 1:15 Eastern Standard Time. Again, it’s kind of like watching paint dry, right.
We did have an opportunity right here at around a little after 2:30. An opportunity to get long on a market order. But I’m not going to count this because this does not follow according to our trading rules. What we did is our indicators we watched for an anchor chart and a trigger chart to be in the same direction and when they are it’s a market order long. And that’s, you know, a couple people may have got a hold of this or not.
The next trade that actually set up was nice and clean. It was an extended wave trade right here at about just a little after 3:00. Target 1, target 2 hit for a total of 6 ticks. So all in all we had a down day and that’s to be expected.
In the meantime, 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. Have a great weekend and I’ll see you in the Shark Den on Monday 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.