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, March 13th, 2013.
The market opened up this morning at 1547.75 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 we did have an opening range that we generally will not trade in, but in this particular case it appeared to be a nice setup. Tried to get in short, got stopped out for minus 6 ticks.
Another opportunity to get short. You see our auto wave kicked in here, but this is awfully fast. This is not a really clean auto wave. This is more of a choppy setup, so I did not take this trade. Shortly thereafter a nice one setup, an auto wave short. Got stopped out for minus 8 ticks and then once you get stopped out in one direction, quickly be prepared to setup in the opposite direction. Nice setup here long. Look at the auto wave short. Auto wave long. Fired off. Target 1 and Target 2 would have gotten hit. Target 2 would have gotten hit over here. I did not take this trade, notice it’s colored in yellow.
As the market continued higher we found overhead resistance. Notice this white yellow line. This was yesterday’s low. We were expecting this to drop below that, but all in all the market still remained in bullish territory. Found resistance at opening price. Pulled back a little bit before going into the no trade zone from 11:30 until 1:15 Eastern Standard Time.
Coming out of the no trade zone, from 1:30 to 2:00 the market tends to rise. Got in a little bit of a 9 tick trade there. And then right here at around 2:00 we generally don’t want to be in any long positions. Watch for a setup. You don’t just automatically short at 2:00, you just kind of wait for a potential long setup. Nice setup here. First target, second target hit. Another if you didn’t get in on that first one, another opportunity right here, auto wave kicked in. Target 1 and Target 2 are hit. They’re colored yellow if I didn’t take them. It’s just for review of what happened today in the Shark Den.
And then going into the close there was an offer to trade right there at about what, 3:47 Eastern Standard Time to get long. And then realize we’re going to get choppiness. Other market internal indicators were telling us to get out. So just got 2 ticks and 2 ticks. So total of 4 ticks on that last trade.
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 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.