Learn to Day-Trade the Emini S&P Futures

What not to do – Trading Video – March 20, 2013

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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 Wednesday, March 20th, 2013. It’s also the FOMC meeting announcement today at 2:00.
This is just a quick snapshot of the entire day. And we have an opening range here. And I want you to notice that as price action remained within opening range; it really didn’t give us any opportunities to take any nice trades. And I’m going to show you what not to do in our next section.
After seeing how the narrow range worked out on our higher timeframe chart, let’s go ahead and look at a shorter timeframe chart. The market opened up here at 1551.25. You can see that represented by the white dotted line. We had a pro-range reversal, didn’t quite make the low here and came back in through right here at around what, 1549.25.
Our first opportunity is, I mean we still try to trade within the opening range and also near opening price, which we have a few rules that we do not trade usually within 1 point of opening price. Went for it. Got our first target off. Got stopped out for minus 2 ticks. Then shortly thereafter got a nice opportunity to do an auto wave short. I did not jump on this just because we were moving our way into a Shark band, which you saw on a previous screen. And then when you get stopped out on a specific trade you quickly setup to be able to go in the opposite direction. I did not do that either. And then when we had a nice little pullback, I went for a short position right here. We had two separate auto waves. The first one fired off, it was successful. The second one fired off, I got on it and I didn’t even get off my first target and I got a full stop out of minus 16 ticks.
Shortly thereafter, again, when you get stopped out you try to quickly setup for a reversal signal. There’s your auto wave long and that was a successful trade. So again, they’re colored in yellow and I did not take them.
Going on for the rest of the day, so for the most part on FOMC day you will see a breakout. We did not get that today. We had a lot of sideways movement, sideways chop. Going into a no trade zone from 11:30 to 1:15 Eastern Standard Time. We then had the FOMC announcement. Had an initial break long. Retracement and continuation. Did we really have any opportunities to trade within here? Generally sit aside for a couple of minutes just to kind of let the dust settle.
And there was an opportunity to get long right here at this auto wave. And then once price action got above the moving averages another opportunity to get long. This is a nice clean trade. Ten ticks on this particular trade. And then we had a pullback to our moving average price. Through the moving average. And this, we did have an opportunity to get long from another auto wave right here just before 3:30 in the afternoon for another 10 ticks going into the close.
To learn more about these and more advanced trade setups or to get a copy of your Trader Shark 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.