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, October 9th, 2012.
The market opened up this morning here at 1449.75 represented by this white dotted line. We generally don’t trade from 9:30 until 9:45. Coming out of the no trade zone you can see we had a lot of sideways movement. It continued to work its way around the moving average really close to opening price. Found a lot of overhead resistance. Just not any clean opportunities to get into this market.
Until we got our first indication right here, and that was our momentum indicator down below. And then we had several more opportunities. I wasn’t able to get in until right here around 10:49, an opportunity to get short. I actually took on 4 contracts in this position because we also had the market internals in our favor. And we had the negative news out of Europe. So we took our target 1, target 2, and target 3 for a total of 32 ticks on 1 trade.
Had a couple trades on the Euro today. Two good trades in that. And then these were just a little bit of pullbacks prior to hitting our Shark band. Worked our way all the way down here to the 1437.50 level. And once we hit our 1437.50 level we saw a nice sideways movement into the no trade zone from 11:30 until 1:15 Eastern Standard Time.
Worked our way back up for a 5 point pullback. However, we didn’t get on the other side of the moving average and so we remained inside. Brief chop. No further trades. There was a couple of opportunities to get in short once we had a breakthrough. Pullback. Right in through here we had an opportunity to get in for a quick 4 ticks and that was it for the day. One trade for 32 ticks.
To learn more about these and more advanced trade setup, or to get a copy of the Trader Shark trading manual, please visit TraderShark.com. Thank you. Have a great evening 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.