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,
TraderShark
Good evening traders, this Is Brian with TraderShark.com, an educational website to learn how to trade the emini S&P futures. I’m going to go through two days today, Monday, June 17th, and Tuesday, June 18th.
The market here on Monday, June 17th opened up at 1631.50 represented by this white dotted line. We had an 8:30 news report and a 10:00 news report. 10:00 news report being the housing market index. And it was much better than expected, outside of consensus range. The market did not quite take off as dramatic as we expected it to. Had an opportunity to get in long, took a stop out, forced myself out for minus 8 ticks.
Continued along our moving average. A little bit of sideways motion. Still didn’t move with the emphasis we were expecting to have. Trade here got on the first target, got stopped out for minus 2 ticks. As we watched the sideways motion continue to chop into the no trade zone. Once we got into the no trade zone, there’s the sideways chop, from 11:30 to 1:15 Eastern Standard Time.
Immediately coming out of the no trade zone, an opportunity to get long. Target 1 and target 2 hit for a total of 8 ticks. And then at 2:00 in the afternoon we don’t really want to be caught in any long positions. And in this case the selloff occurred quite dramatically. We don’t usually take the initial move because then you’re trying to call the top. We try to avoid calling tops. We had a nice little pullback here. Entry of target 1 and target 2, total of 6 ticks. And any of you that held on for a third contract were able to pull in 2 or 3 points on this specific trade.
Opening price did not pose any type of support, operated as resistance level and continued lower. We had a nice little trade there for 17 ticks to the downside as the market sold off all the way down here to 1624.
With the bounce off of the bottom we were able to break a significant level. Nice little pullback for an opportunity to get long. Had two separate positions going on here. One for a total of 10 ticks, one for a total of 14 ticks and then scaled out right here at around 1633.50. Market continued higher. For the day we ended up with 7 trades and 45 ES ticks.
Going into the next day, Tuesday, June 18th, from 9:30 to 9:45 we did not take any trades. Opening price was at 1634. An opportunity to get short. Did not even get our first target off, forced ourselves out based on our internal indicators for a total of minus 6 ticks.
Continued on, realized we were going to be pushing higher. Right here at about 10:30 we had an opportunity to get long, target 1 and target 2 hit for a total of 10 ticks. Another pullback, and then once you get into your third or fourth pullback into the trend direction, I kind of start scaling out my second contracts sooner. So in this particular trade, 2 ticks and 4 ticks and I was happy and I got out.
We then saw a little more of a dramatic pullback. A lot of strong overhead resistance here at about 1643 scaled out at 1642.5, total of 8 ticks on that last trade. Going into the no trade zone, I did not take this final trade going into the no trade zone from 11:30 to 1:15 Eastern Standard Time. It seemed like there was some pretty dramatic moves, but all in all you got lower volume, higher volatility.
Coming out of the no trade zone, again there’s our 2:00 time frame. We did not have any setups to get short. There was a nice setup to go long. I did not get into this one as the market moved higher after 2:00. And going into the close that was it for the day. We basically had 4 trades for a total of 18 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 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.