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 Friday, September 7th, 2012.
The market opened up this morning at 1433.5. And it was right in between the opening range. And this picture in itself pretty much tells you the whole story. We had pure sideways chop with no conviction whatsoever until this last half hour.
Here on our lower timeframe chart we can see that price action had a nice move downward this morning. The employment situation was within consensus range. So there really wasn’t much of a market move. And we just watched continual movement with our moving average all day. There was an opportunity to get short in here. I did not get this. You’ll notice we had a nice little wave dot popped in. And it was good for a good 6 to 8 ticks there.
Went into a no trade zone from 11:30 until 1:15 Eastern Standard Time. And then this, I mean, we knew that this was going to be a golfing Friday afternoon if you understand what I mean. And then at 3:30 I like to sit back at the computer. And I do watch. Slow and quiet tends to be bullish. And in this case we had a nice clean setup for an opportunity to get long. And then we go into what’s called our final no trade zone. I scaled out right here at about 1436.5. And my initial target was 1437.25. I scaled out a little bit early and then you can see what happened right into the close.
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 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.