Every professional futures trader would agree that emini contracts offer a phenomenal way to make money (and lots of it) in the financial markets. It seems pretty certain that emini trading is the way for you to capitalize and make a full-time living as a day trader; after all you've been successful as an investor, haven't you? You've built up a nice little investment account over the past few years and now have enough stashed away to begin day trading futures contracts.
What is amazing to me is the amount of people entering the world of short-term trading every year willing to gamble their hard-earned money away in an effort to make a quick buck; hoping the outcome will somehow be different for them. However, there is good news. For those of you willing to put in the time, effort and sacrifice; success will ultimately be yours. For the rest of you looking to fast track your way to untold riches, here are the TOP three ways to end your emini trading career quickly:
1) Setting your goal as percentages gained rather than studying and understanding the trading process. Most people initially entering the markets will almost always set their goals on how much they want (or need) to make in the form of percentages, "I have to make at least 2% a day on my $5000 account." How can you make 2% a day if you don't understand the process? Impatience and failure to build a solid trading plan around the process based on sound principles and money management will lead to disaster.
2) Opening a brokerage account under-capitalized. "Hey, this broker will let me open a trading account for $5000 and I can begin trading futures now!" What the broker fails to tell you however, is HE is the one that will be making all the profit through fees and commissions and you will be left with a blown out trading account. Opening an account with a minimum required balance starts a new trader off immediately at a disadvantage. Because there is no margin for error, very few mistakes can be made before account draw downs will place the account below minimum levels. You are a rookie trader and you WILL make bad trades! Save up, spend your time using a simulator and open an account once you are well-funded.
3) Don't find a mentor. Don't take the time to find a proven professional trader and study their system and methodology. WHY would you attempt to enter an arena without an edge where the sharpest and most knowledgeable players earn their daily bread by taking money from the inexperienced and ill-prepared? Those that don't learn from the mistakes of others are doomed to experience the same mistakes and account draw downs. Studying with a mentor not only increases the chance of ultimate success, it also cuts the learning curve by half or more.
If you follow these three simple steps you will join the thousands of others that came before you and bring an ignominious end to your trading aspirations. Or you can make a commitment to learn the process, study the markets, save your money until well-funded and find a mentor to help you along the path to ultimate emini trading success.
Join us for the FREE weekly Emini Trading Show where we discuss tips, tricks and strategies used to successfully trade the Emini index futures markets, LIVE! Who's It For: Anyone that wants, needs and CRAVES success as a futures day trader. How To Get It: CLICK HERE to get your invitation to the next show!