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, July 12, 2013.
The market opened up this morning here at 1669.75 represented by this white dotted line. We generally don’t trade in the pre-market area, unless of one exception that we have, and there was a nice exception of the trade. I want you to notice the time here was right at about 9:10 for a continuation. It’s yellow because I did not take it. We do talk about those in the Shark Den. Coming into the opening price we don’t trade the first 15 minutes of the day from 9:30 to 9:45.
We had a nice pro-range reversal here almost at exactly 9:45. Even though we only take 4 ticks on this type of trade. It’s a scalp. It’s a pro-range reversal scalp. And generally they’ll happen twice, and so we had an opportunity for 4 ticks here and 4 ticks here. That’s only on 1 contract.
As we progressed into the morning, really we had a lot of sideways chop. It was as Friday afternoon. There’s a nice little burst higher. It was almost like a type of head fake and then ripped against them very quickly. Didn’t see any other, really there was no trades this morning aside from the 2 pro-range reversals.
Going into the no trade zone from 11:30 until 1:15 Eastern Standard Time, we did have low volume for the majority of the day. Going into the afternoon, I’ll watch for a couple potential trading opportunities in through here. Did not get them. I mean, I want you to notice the sideways motion. We do have a directional indicator that we watch. It kept us well out of any trades until right in here about just prior to 3:30.
We didn’t have an exactly clean setup, but I said I’m going to go in the market with 1 contract and I did 1 contract on 2 different platforms. And where we were is right here, just prior to the breakout of the opening price. We tend not to trade within 1 point of opening price. In this situation we had a large volume of buyers coming in preparing themselves for where they are going to place their positions for Monday morning. I explained to everybody why we were looking for a long position. And we had our first target out here at 1671.25. Next one was 1672.25, 72.75, and my final contracts were out at that point. If you continued on and you had more than 2 contracts you were trading, we had the opportunity to hold all the way up to the 1674.25 area.
And then I want you to notice this selloff at 3:59 and 55 seconds. The market tumbled and lost all of the 30 minutes it took to get that high, and then tumbled all the way back down to the opening price for a close very closely within 1 tick of opening price.
To learn 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 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.