ES Emini Day Trading - Are You Confident in Your Trading Or Do You Trade and Hope For the Best?
There was a time in my life when I would spot a so-so set-up, take it, and hope for a profitable outcome.
I was young, just learning to trade on Wall Street, and incompetent.
If you are like most people you know the feeling of being unsure as to the direction of the trade you have chosen.
More importantly, you hope that you have chosen the right direction in your trade and desperately fear that computer tone that indicates you have been stopped out, in the wrong direction.
I was a lucky guy back in those days because my mentor was more than willing to let me make mistakes, and then delighted in chastising me for my poorly thought out trading technique.
Oh, he was not a mean man, but he had a unique way of making a point by letting me fail then correcting me.
I learned not to make the same mistake twice and my trading gradually reached a level of competence where I could be trusted to make sound trading decisions without direct supervision.
That honor is a supreme feeling, a feeling of accomplishment, but it took several years to achieve.
Trading has changed a lot since those days, and anyone with a computer can now participate in trading in a variety of markets.
My area of emphasis has always been the S&P 500 and the ES Emini (mini-sized S&P 500 futures contract) was made for me.
I truly enjoy trading this contract, and it is truly a passion of mine.
I am confident in the trades I make.
Often times I see set-ups that do not materialize just the way I envision, but eventually the sound techniques I learned bring the trade around to a winning position.
I have the confidence in my training in experience to trust my decisions.
Let me say, that all trades are a probability play and even a trade with a 70% probability still has a 30% chance of losing.
You live with the probabilities though, and know the majority of your trade are going turn out just fine.
Are you confident in the trades you make? Without proper experience, excellent mentoring, and some solid experience many novice traders find themselves entering trades an hoping they turn out for the best.
I attribute this syndrome to a number of factors.
My observations are that most traders have picked up bits and pieces of trading knowledge from a popular book, some trading friends and a few articles they may have read in magazines or on the internet.
Let me say this, this level training is not enough to make you a consistently profitable trader.
You need a system that can be duplicated, day in and day out, with success.
There are a number of systems out there that work just fine, but they all take a decent amount of time, study, practice and dedication.
Trading is not like mowing your grass.
By that, common sense is not necessarily a virtue in the trading profession, as the market is often time illogical and moves in ways that defies common sense type logic.
It takes training and mentorship to recognize the idiosyncrasies of market behavior and you are not likely to find this information in run of the mill trading information.
My advice is to learn a sound system, a system with a long time proven track record and learn to implement the system flawlessly.
This objective takes a tremendous amount of self-discipline as the market is always floating tempting set-ups that are likely to lure the unsuspecting trader.
But you can learn to avoid these traps with proper training.
The real question is simple..
..
Are you ready to become a full time trader and learn a system that will assure you success?
I was young, just learning to trade on Wall Street, and incompetent.
If you are like most people you know the feeling of being unsure as to the direction of the trade you have chosen.
More importantly, you hope that you have chosen the right direction in your trade and desperately fear that computer tone that indicates you have been stopped out, in the wrong direction.
I was a lucky guy back in those days because my mentor was more than willing to let me make mistakes, and then delighted in chastising me for my poorly thought out trading technique.
Oh, he was not a mean man, but he had a unique way of making a point by letting me fail then correcting me.
I learned not to make the same mistake twice and my trading gradually reached a level of competence where I could be trusted to make sound trading decisions without direct supervision.
That honor is a supreme feeling, a feeling of accomplishment, but it took several years to achieve.
Trading has changed a lot since those days, and anyone with a computer can now participate in trading in a variety of markets.
My area of emphasis has always been the S&P 500 and the ES Emini (mini-sized S&P 500 futures contract) was made for me.
I truly enjoy trading this contract, and it is truly a passion of mine.
I am confident in the trades I make.
Often times I see set-ups that do not materialize just the way I envision, but eventually the sound techniques I learned bring the trade around to a winning position.
I have the confidence in my training in experience to trust my decisions.
Let me say, that all trades are a probability play and even a trade with a 70% probability still has a 30% chance of losing.
You live with the probabilities though, and know the majority of your trade are going turn out just fine.
Are you confident in the trades you make? Without proper experience, excellent mentoring, and some solid experience many novice traders find themselves entering trades an hoping they turn out for the best.
I attribute this syndrome to a number of factors.
My observations are that most traders have picked up bits and pieces of trading knowledge from a popular book, some trading friends and a few articles they may have read in magazines or on the internet.
Let me say this, this level training is not enough to make you a consistently profitable trader.
You need a system that can be duplicated, day in and day out, with success.
There are a number of systems out there that work just fine, but they all take a decent amount of time, study, practice and dedication.
Trading is not like mowing your grass.
By that, common sense is not necessarily a virtue in the trading profession, as the market is often time illogical and moves in ways that defies common sense type logic.
It takes training and mentorship to recognize the idiosyncrasies of market behavior and you are not likely to find this information in run of the mill trading information.
My advice is to learn a sound system, a system with a long time proven track record and learn to implement the system flawlessly.
This objective takes a tremendous amount of self-discipline as the market is always floating tempting set-ups that are likely to lure the unsuspecting trader.
But you can learn to avoid these traps with proper training.
The real question is simple..
..
Are you ready to become a full time trader and learn a system that will assure you success?
