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, September 12th, 2012.
The market opened up this morning here at 1437.5 represented by this white dotted line. We generally don’t trade the first 15 minutes of the day. Coming out of the no trade zone had an opportunity to get short. Couple different opportunities here. We were really close to opening price so in hindsight probably not a good idea. We generally don’t trade within 1 point of opening price. Had an opportunity to get target 1. And from a very basic perspective you would have had if you got your stop in, you would have gotten stopped out for minus 2 ticks. Got target 1 off. Did not get target 2. Got stopped out.
Another situation. We also had an opportunity. Other indications were showing us that we should probably continue down and we jumped on with 2 more contracts. So you can range anywhere from minus 2 ticks to minus 12 ticks in this particular scenario. Conservatively minus 2. Aggressively you would have taken a 12 tick loss on that particular trade.
Price action pulled back to the moving average. And then it pulled into the direction we thought it was going to go. The selloff was consistent. And then we had another opportunity to get short. We wait for pullbacks. And you can see this pullback here did not give us an opportunity to get in. Here jumped in. Got target 1 and got stopped out for minus 2 ticks.
We then found a little bit of a support level here around the 1432 level. We thought we were going to go for the full gap fill and that’s why we got reduced risk stop here. Came back up. Crossed over our moving averages. We were in. I entered a long position. And got some of our internal indicators. We were trying to go right back into opening price, so I flattened.
And then our market internals gave us a little more indication we were going to continue higher. Another opportunity to jump in right here at around, just before 11:20. Long opportunity. Target 1 and target 2. Kept the targets really tight. Particular situation just because of the choppiness going on without the uncertainty of the FOMC announcement tomorrow. And we got a total of 6 ticks on that trade.
And then we went into a no trade zone from 11:30 until 1:15 Eastern Standard Time. Coming out of the no trade zone had an opportunity to get short. Got target 1 out. Got stopped out for minus 2 ticks. That’s okay. It’s just money management, right. We’re keeping safe.
And then we noticed a nice pull back to the moving average. Would have been a great opportunity to get in here. We had a tangled net going on at that time. Then a nice pullback. Opportunity to get short right there just before 3:00. Target 1 and target 2 were hit for a trend trade for a total of 10 ticks. And that was it for the day.
We do have a final no trade zone here at 3:50 in the afternoon. But there was a nice clean setup. You can see how it lined up. And our anchor chart confirmed for an opportunity to get another 6 ticks if you did. But we don’t generally take any trades in that no trade zone.
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.