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, April 26th, 2013.
The market opened up this morning here at 1578.75 represented by this white dotted line. We generally don’t trade from 9:30 to 9:45. We do have a couple exceptions to every rule. We had what’s called a pro-range reversal here. Took a quick 4 ticks out of the market on a reversal off of the open. Price action worked its way back above the moving average.
We then had a news report there at 9:55, consumer sentiment report. It was relatively neutral, within consensus range. There wasn’t much market fluctuation. It developed our opening range here a little wider than usual and with that we kind of knew we were going to have a choppy day. I did not get a hold of this trade. This was still on the opening, but it did set up nicely right there at about 10:15.
Coming out of that we had an opportunity for what’s called a Shark Attack trade, so I set up and I wasn’t comfortable with the other market internal indicators. I exited for minus zero points. Obviously have to subtract commission from that.
And then it looked like we were going to get another setup. A nice long opportunity here. And our first target is about 8 ticks away, so I didn’t get my first target by one tick. Pulled back and eventually stopped me out for minus 9 ticks. I think we rode this for about an hour or so, and then I put a second contract on and it didn’t hit the first target, and so we rode that. Again, a lot of sideways chop. You can see it here. It’s much clearer in hindsight. Going into the no trade zone. And then got stopped out in the no trade zone from 11:30 to 1:15 Eastern Standard Time down here. Actually the stop on a Shark Attack trade, it stopped right to exact tick. And then it reversed of course, just like we see in the market.
Coming out of the no trade zone, another opportunity to get long, and this one did not work to my favor and did not get my first target off. So I took only plus 1 on it because we went into the 2:00 trade zone.
Continuing on, I was out of the area at this time, but nice clean setup. We have an auto wave firing off right there just before 3:00. I did not get in on this one, but it would have yielded a positive 10 ticks. And that was pretty much it for the day going into the close 3:50 until 4:15. So it was quite a challenging day to make any money on today’s market.
To learn more about these or 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 bright and early 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.