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, November 2nd, 2012.
The market opened up this morning here at 1430.75 represented by this white dotted line. We had a couple of news reports this morning. Remained within consensus range. We don’t trade from 9:30 to 9:45 Eastern Standard Time primarily because we want to let the bulls and the bears determine what direction the market’s going to move this morning. Just a lot of volatility. We don’t want to trade in that.
Coming out of the no trade zone we had an opportunity to get short right here at about 9:56 or so. Had an opportunity to get short. The market quickly went against us. We exited early primarily due to the other market internal indicators that allowed us to do so. And I took a loss for 10 ticks on 2 contracts.
Notice how we continued to navigate below our moving average. We had another pullback. Nice clean entry for an opportunity to get short on an extended wave trade short for a total of 10 ticks on 1 trade over here. So we had 2 separate trades going on, a total of 4 contracts into this. Two contracts on the first trade, 2 contracts on the second trade. Second trade we had 10 ticks to 21 ticks for a third target contract target that materialized later on. Notice the pullback here. Did not take us out. Nice trailing stop. Target 3 was hit.
We then had another pullback. Nice opportunity to get short. Target 1 was hit. Got stopped out for minus 2 ticks. If nothing else, you can notice the sideways motion our indicators kept us flat. Going into the no trade zone over the lunch hour, 11:30 to 1:15 Eastern Standard Time. Coming out of the no trade zone notice how we continue the sideways movement. Had a little bit of a selloff. Pullback. Opportunity to get in. A little bit of pressure. Dropped down for a total of 14 ticks on 2 contracts.
We then felt like we were at a bottom here. We were hitting a Shark band. An opportunity to get long. Got our first target off. Got stopped out for minus 2 ticks. Going into the close another opportunity to get short. We did not go for our full targets. We were in the direction of the trend, just questioning whether we were going to go any further. Market internals got us out a little bit early. Total of 6 ticks on our final. Out for the rest of the day to end a great three day week.
And keep your thoughts and prayers still towards those involved in the Hurricane Sandy in the Northeast part of the United States. 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 we’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.