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 Thursday, September 20th, 2012.
The market opened up this morning at 1447.75 represented by this white dotted line. We generally don’t trade from 9:30 to 9:45. Coming out of the no trade zone we did watch the market sell off a little bit. Actually the news reports were both within consensus range. So there’s no trade setups.
We did have a nice move through the moving average. Pullback here. An opportunity to get long. And we did take a little bit of heat, but no stop outs. Target 1 and target 2 hit for a total of 13 ticks on this particular trade.
We then had a setup going into what’s called a Shark Attack trade. So we had some targets up here around 8 ticks and also at 16 ticks. I had 3 different contracts running. One of the contracts I scaled out at 8 ticks. Another contract got stopped out here at break even. And the third contract we had a minus 4 ticks. And this was a long trade. Literally the Shark Attack trade can run anywhere from 5 minutes to as many as 2 to 3 hours. And it’s a period of time when they’ll stall the market sideways until you see indicators supporting a short position and then they’ll whip it up against you to the long side. We expected that all day. And again we saw a lot of chop. The market makers really geared to getting you out of good trades and into bad trades.
And then what did we see? We saw a nice little burst here towards the end and towards 1455, which is a monthly resistance level. And then we went into the no trade zone. And just I want you to see one last thing after the no trade zone this thing just took off up into the 1450 level.
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.