|emini (emini) wrote,|
@ 2012-06-01 11:30:00
|Entry tags:||emini, emini trading, eminis|
The Discipline It Requires To Be An Emini Trader
When it comes to trading emini contracts, you have to have discipline. Discipline in trading is the most important factor, overall, that decides whether or not you are successful. Trading eminis is not gambling. In fact, not successful trading is about gambling. Many people seem to believe that trading emini futures contracts is like “gambling” simply because it can involve what is known as “day trading”. But successful day traders don’t approach their trading as if it’s gambling.
Yes, trading emini futures contracts can yield short term profits, and that’s very largely what makes these contracts so attractive to people who want to trade. Nevertheless, what the whole discipline involving these trades is really about isn’t profits. It’s wanting to learn more and more, each and every day, about how to be a better trader.
It is analogous to running one’s own products-selling business for profit. Profits may be the first and foremost priority for the business owner, but what must he do in order to get those profits? He must learn and master his particular business, and then he has to deliver products that people desire to buy. His bottom line may be profits (as it should be), but the bottom line is knowledge. Knowledge coupled with discipline.
Profiting from emini trading is simply about gaining the necessary knowledge to trade successfully. Not “perfectly” (without any losses, ever) because that’s impossible. Literally. Trading successfully, for profits, means consistently making more money than is lost. Losses will happen, but if your profits outweigh the losses then those losses don’t matter all that much, in the long run.
There are techniques and strategies that the emini trader must learn in order to become successful. Shooting from the hip is not among those strategies. Too many emini traders fall into this pattern. In fact, over 90% of emini traders lose money. This is because they get caught up in the thrill of what they consider gambling and the idea of making profits. They aren’t interested in knowledge. They care only about the money to be made, like an incompetent businessman who doesn’t think his product quality matters as long as he has a few silver-tongued salesmen who can allegedly sell ice cubes to Eskimos. With emini trading, knowledge is power. In fact, it’s magic. In fact, it’s the only magic that can make for those coveted profits.
For the traders who are willing to gain knowledge, emini profits are not only possible, they can even be expected...after due practice time is put in. This is one of the important ways of gaining emini trading knowledge: practice. But, how can you do that without losing so much money first that you can no longer afford to practice? You can do it with the use of today’s virtual trading accounts. This is like playing electronic Monopoly. That is, the money you risk isn’t really real; then again, neither are any profits you make. But an electronic trading account is linked to the real trading world, and therefore it shows you the real world results that you would have gotten if you had opened up a real account and risked real money.
Besides using an electronic virtual account before entering real emini contracts trades, you need to find a mentor. That is, study and learn what those who are profitable traders know and do. Study, practice. Sound familiar? It’s the way to success for emini trading as it is for all things. If you want to try to make $6 million or more gambling, take a trip to Las Vegas or Atlantic City. Don’t trade.
Visit emini to learn more.