Day Trading the Emini Markets Like a Business!
This weekend we will be posting our Weekly Video Update. We will also be posting a 4 part video series that I personally recorded this week. In the 4 part series I am trading for more than 1 point. Why am I doing this? Well a couple reasons. For one it is plausible to make more than 1 point a day using my day trading system. More importantly, however, is the fact that we will take losing trades and knowing that a trader must be able to recover!
The ability to recover from losses is a day trader’s finest attribute! This is crucial! It’s also where a lot of people fail at day trading. Day trading the Emini markets is an incredible way to make a living. Trading, like everything else, has its positives and negatives.
Business owners do not go into business to sell products and services at a loss. If they do, they normally go out of business. Trading is a business. However it is not like any business in the “real world”. When trading is your business, you must take losing trades. In other words, you may buy something at one price and it depreciates in value and you sell it at a loss. If you do this more often than not, you too will go out of business as a day trader.
Hence, recovery! We must accept the fact that losing trades is indeed part of the trading business. So therefore instead of being emotionally attached to our trades and focusing on losers that we had, it’s better to be pro active and realize that we MUST take losers and we forge ahead and recover our losses and move on to make a profit.
That’s the next thing business owners (day traders) must have: A set of rules! But not only must you have a set of rules – you have to follow them!
Folks, I’ve been day trading for a long time. I know firsthand that trading is not easy. It took me years to be a good day trader. That’s why I teach my Emini System to others. I know what it’s like to be new, I know what it’s like to lose trades and be emotional.
I also know how important it is to keep your emotions in check. In fact the only way to be a successful day trader (in my opinion) IS to be emotionless in trading. Easier said than done, right? Well I believe with enough practice anyone can do it. If you want it bad enough.
Here’s a quick 5 minute video I recorded on a live trading account just the other day. It’s a video of a trade setup that I consider a high-probability setup. This trade comes within 1 tick of making target and then starts to bounce up. Rules tell us to stay in. The trade does win. However an undisciplined trader or an emotional trader will easily question the trade when something like this happens.
Enjoy the video and look for the Weekly Video Update as well as the 4 part video series!
Cheers!
ETS
