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, March 15th, 2013.
The market opened up this morning here at 1554.5. It was right underneath this Shark band. We had an overnight selloff from the highs. Nice little pullback. Consumer sentiment report came out. It was worse than expected. We had a nice little selloff. Did not get into this. There wasn’t any pullbacks.
Here it looked like we started to have a pullback. Got an opportunity to get in short and then quickly, you’ll notice that our momentum indicator was against us. Stopped out quickly minus 2 ticks and turned right around. When you get stopped out in one direction you want to turn right around and look for a setup. It did take a little while for it to develop. Remember today was quadruple witching. And with that virtually the volatility is, can shake you around quite a bit.
An opportunity to get long in through here. We had a Shark Attack trade. We had a wave trade. A lot of different, trendline wave trades, a lot of different things were firing off here along. Trying to go into this opening price area, so it did take a little more confidence in order to take this trade because we generally don’t trade around the opening price and this yielded 32 ticks.
Once we got up into the highs of the day we were expecting us to push, I think we had a target there of 1553.75 and 1555.75, which worked right out nicely. Also, up to the gap fill. Expected a slight push up to the 57 level. Did not make it. Right about 2:00, we did not want to be in any long positions. Had a nice entry for a short position. Quick 10 ticks there. And then another couple opportunities on the way down if you wanted to scalp it in at that point.
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 in the Shark Den 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.