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 Monday, September 24th, 2012.
The market opened up at 1446 represented by this white dotted line. We generally don’t trade from 9:30 to 9:45. We have one exception, that’s if we get a trade in the direction of the gap fill. In this case it pulled back. We generally don’t trade around opening price. In this particular case it was a nice setup. We went long for target 1 and target 2 for a total of 7 ticks.
Then there’s a nice little pullback. Found support again on our opening price for a continuation. Break through the moving average for a continuation. Target 1 and target 2 hit for a total of 8 ticks. Then this was kind of a stretch. I generally don’t take more than 2 trades in the direction of the trend. In this particular case target 1 was hit, got stopped out for minus 2 ticks.
There was an opportunity here to get short. I did not get it. You can see the red dot wave trade coming in right there. I did not take it. Took a little bit of heat, but target 1 and target 2 would have been hit. I colored it in yellow because that’s a trade that I did not take.
From 11:30 until 1:15 Eastern Standard Time notice the narrowness of this range. Buying was kind of light today. Coming out of the no trade zone price action worked its way through the moving average. No pullbacks whatsoever. But we do talk about this in the Shark Den. It’s called a Shark Attack trade. If anybody got on this, now I colored it in yellow. Of all the times I was away from the computer. And, you know, it’s old Murphy’s Law. I came back and I said, what happened. Well, we talked about this at about 11:00 this morning. I told everybody where the targets would be if we had a break of this Shark level. And the targets were 1452.5 and 1454.5. Again I came in after it had already hit the second target of 1454.5. So I did not get in on that trade, but it did yield a nice Shark Attack trade of 2 points and 4 points.
You know, there’s a nice strong bullish push. And just like you see in a marathon runner after a long run the market will go sideways. So I’m not expecting to get any trades after that run up. There was pressure to the downside. Look at where we’re getting our red wave dot signal. Red wave dot signal. Can’t take it because you’re above the moving averages. Another red wave dot signal. Possibly until we broke through for a pullback right in here just before we go into our last no trade zone of the day at 3:50 or 10 minutes to 4 Eastern Standard Time. We have a rule that you don’t trade in a no trade zone.
This is where you have to apply a little bit of art form, a little bit of common sense. You know, pressure, pressure, pressure. Looking for some type of pullback. Got the pullback. Got our cross continuation for the downside.
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.