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 Thursday, August 8th.
The market opened up this morning here at 1695.25 represented by this white dotted line. We generally don’t trade from 9:30 to 9:45. Coming out of the no trade zone we had an opportunity for a pro-range reversal, got just a real quick 4 ticks on that. And then we had a nice clean pullback into our moving average for a continuation, a total of 7 ticks.
Now this next trade we had a nice clean pullback. An opportunity to get in short, got my first target off and then I cancelled my stops. I went to reenter my stops and I entered it as a market order and it closed me back out, so I only got 6 ticks on this trade, only with 2 contracts. When it was actually a nice, clean 10 to 14 tick trade by holding on to it. I didn’t want to chase a trade so I didn’t reenter the trade. We talked about it in the Shark Den. And you know, if we had a nice trailing stop this could have certainly carried it lower. Little bit disappointed we didn’t get the rest of that, but no worries.
We had a nice little pullback here for a continuation, another 9 ticks into the day. And then found our base here on a Shark band. As it retraced I was expecting anywhere from a 3 to 5 point pullback. I was looking for an opportunity to short, but the indicators just continue to hold it strong. Got as high up as a 5 point pullback and then we went into a no trade zone. So there’s no opportunities to short this market.
Once we got above our moving averages we were potentially considering a long, but it went into a no trade zone from 11:30 until 1:15 Eastern Standard Time. And approximately 70% of the time we will see the no trade zone move higher. And that’s exactly what happened here. I wasn’t even at my desk to be able to take advantage of any of this. It’s a no trade zone.
Coming back at 1:15 little bit of a sideways motion. 2:00 we generally try not to be in any long positions at the highs of the day, and still minor pullback. Continuation sideways. If we do not get a deep enough pullback here between 2:00 and 2:30 then the likelihood is exactly as we saw, sideways motion into the close. If I had a good 5 point pullback then I would expect us to run higher into the close. Just did not get it. And ran into the sideways motion. Right here. Wrapped around opening price. Little bit of a selloff going into the close.
To learn more about these and more advanced trade setups or to get a copy of the TraderShark trading manual, 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.