Emini Trading Results May 16, 2011
The Emini S&P Market opened up right at 1330.75 and moved down to 1328 before it bounced. The opening down move gave us a quick one and done trade using our Normal System Entry. We shorted about 1329.75 and rode it down for a quick 4 tick profit. Finished the day just as quick as we started!
A lot of my student base will then continue emini trading, but they switch to a sim account. Why? Simple, they’ve already made their daily income, but want to continue practicing the system! This is an exceptional way to trade. Start off and make your money, then spend another 30 minutes to an hour on your skill! Trading is a skill! It takes time and commitment and a lot of practice. I encourage my new students to trade on sim for several weeks at first. Learn the basics: The tick charts, the 3 setups, all the little nuances, and so forth. Practice and practice. If you don’t have time throughout the day – no problem, use NinjaTrader’s Market Replay and practice at your convenience. But DO NOT trade with real money until you have the SKILL level and the DISCIPLINE! You gotta have both to be a successful trader!! Over time, you will naturally find yourself “ready” to trade live. You start small, say 1 contract. Learn to do it with real money, take it from there – the sky truly is the limit.
It’s important to accept that we all have to walk the learning curve to be a successful emini day trader! None of us are born with it! It’s a skill that is developed over time..
Have a great day, and be sure to email myself or Al with any questions you may have.
David
ETS