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 Tuesday, June 4th, 2013.
The market opened up this morning here at 1638.75. You can’t see the white dotted line at this point. We did have an opening range. We tried a quick pro-range reversal right here about 9:36, and I got stopped out for minus 4 ticks. It was only 1 contract. And then going into the, we have what’s called a no trade zone here from 9:30 to 9:45. Outside of that 9:45 we had an opportunity to get long. Started to work our way in our favor, and I got my first target off and then I stopped myself out at minus 3 ticks. Took a loss of 1 tick on that trade.
Then as we worked our way into the reversal zone from 9:10 until 10:10. At the end of 10:10 we really didn’t see a reversal occurring. Likelihood was for price action to continue higher. Got in, got the first target off. Got stopped out for minus 2 ticks. It was quite apparent at that point it was a type of head fake.
Working our way back down to the lower edge of our opening range. We find a nice setup, hook pattern setup. Retracement when you go countertrend. Right, countertrend was a total of 6 ticks, total of 6 ticks in this trade. Followed up by a second hook pattern and then a third hook pattern setup and materialized total of 14 ticks. We knew we were committed to the downside at this point after the no trade zone. Notice these little blue ellipses that I drew. I drew it there before price action made it there. Saying this is the potential target of this hook pattern. Potential target of this hook pattern. And our Shark band stalled price enough to let us get into another trade to the downside of 6 ticks.
Once we found our base, I was telling everybody in the Shark Den this morning, once we hit our second Shark band, approach the third Shark band. Here’s where we tried to push higher. First trade was 6 ticks. Second was a total of 12 ticks, all the way up into our, we do have a Shark line that I’m not showing here right now. And that was the final target for the day before we sold off into the close. For a total of 10 trades and 55 ticks.
To learn more about these and more advanced trade setups, or to get a copy of the Trader Shark trading manuals, please visit TraderShark.com. Thank you. Have a great evening. 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.