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Why is Online Day Trading So Hard? More Specically the Emini Futures – Part 2.
Ok, as we discussed in the previous article about becoming a Emini Futures trader, it is important to and necessary to have a day trading system. Another important factor I realized is how important psychology when Emini Future trading or simply taking intraday trades.. You see, I was under the mirage that I was invincible.
The days, weeks, and months after that $10,000 trade loss, I would enter trades without a proper day trading system, without a proper money management system or rules, and without the proper confidence or psychology.
I entered trades, and after I entering, started to second guess my decisions. My day trading system consisted of primarily “stock options” techniques I was previously using and was not use to the faster time frame decisions that were needed to excel. My Emini Futures career was not looking bright. In fact, through that time, I realized Emini Future trading was more difficult that I had previously anticipated. But I didn’t quit…
I kept pushing forward trading the Emini Futures, exclusively, and after 3 months blew up the whole $70,000 account. “Wow,” you might say, or maybe you’ve blow up a $100,000 account. I do not know your situation, but I do know I was sick to my stomach. I couldn’t believe what happened. I actually remember one day after losing a couple thousand, driving to the bank in a trance and wiring more money to my broker so I could trade. Note, never trade without a proper day trading system, rules, psychology. Emini Future trading is the highest risk/reward form of trading, in my opinion, one can enter. Yet if done correctly, can bring massive success.
Proper psychology and the proper day trading system that meets your comfort level are necessary for any Emini Futures trader to succeed. Emini Future trading is exciting, it’s fun, it keeps you alive, but if you are losing and lose like I did, at times you feel as if your another person having an out of body experience. Remember, Emini Future trading is high risk!
So what did I do?
Well, the first thing I did was take some time off. I had to regroup and analyze what I was and was not doing correctly. I highly recommend taking time off if having back to back continuous loses. Online day trading the Emini Futures requires a mental game like none other. You have to be confident and certain in your online day trading strategy and system or you will fail. If not certain, you will exit winners and stay in losers. As much as you believe that will not happen to you, it will. It’s human nature, fear and greed are in all of us. The goal is suppressing and mastering fear and greed because at the end of the day the only question asked is, “what was your net break even?”
To read the part 3 of this article emini futures
To learnday trading strategy read here.
I write foremost about futures topics, specifically online day trading the emini 500. Many technical techniques can be discovered at emini futures. I encourage you to read the blogs and discover how to trade. You can add $500-1000 dollars a day to your pocket book. Much Success.
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Tags: trading the emini, rules, winners, emini 500, technical, emini future trading