Discipline - The Important Value For Emini Traders
May 31, 2012
Trading emini contracts requires discipline. What decides your success in emini trading is your discipline in trading. 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”. However, day traders who have become successful do not approach trading like gambling.
Yes, trading emini futures contracts can yield short term profits, and that’s very largely what makes these contracts so appealing to people who want to trade. Nevertheless, the discipline governing these trades is not making profits. It’s wanting to learn more and more, each and every day, about how to be a better trader.
It is almost the same as running your own business selling products. 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 be able to master his business and provide consumers with items that they want. His primary goal may be to make profits, but knowledge is still the bottom line. Knowledge coupled with discipline.
Gaining the essential knowledge to trade successfully in emini trading will result to making profits. It may not be without any losses, because that is an impossibility. Literally. Trading successfully, for profits, means consistently making more money than is lost. You may encounter losses, however, if your profits outweigh the losses, then in the long run, those losses wouldn’t matter anymore.
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In order for an emini trader to become successful, there are techniques and strategies that he has to learn. One strategy that is not included is shooting from the hip. A lot of emini traders have fallen to 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. What they only care about is the money they will be making, just like an incompetent businessman who doesn’t think about the quality of his products, for as long as he’s got salesmen who claim to have the ability to make Eskimos buy ice cubes from them. Knowledge is always power when it comes to emini trading. In fact, it is the only magic that will be able to lead you to make profits.
For traders who want to gain knowledge, getting emini profits is expected after pouring due practice time and effort in it. Practice is one of the most important ways that you will gain emini trading knowledge. The question is, how will you be able to do that without having to initially lose a lot of money to the point that you can no longer afford to practice? You will be able to do this using 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. The advantage is that an electronic trading account is linked to real trading and would present you actual results just like you are actually trading for real.
Aside from using an electronic virtual account prior to engaging in emini trading, finding a mentor is equally important. This means that you learn and study what profitable traders do and know. Study, practice. Sound familiar? It is the way to be successful with emini trading, just like in everything else. If you want to try to make $6 million or more gambling, take a trip to Las Vegas or Atlantic City. Don’t consider trading.
Click here to learn more about eminis.
Yes, trading emini futures contracts can yield short term profits, and that’s very largely what makes these contracts so appealing to people who want to trade. Nevertheless, the discipline governing these trades is not making profits. It’s wanting to learn more and more, each and every day, about how to be a better trader.
It is almost the same as running your own business selling products. 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 be able to master his business and provide consumers with items that they want. His primary goal may be to make profits, but knowledge is still the bottom line. Knowledge coupled with discipline.
Gaining the essential knowledge to trade successfully in emini trading will result to making profits. It may not be without any losses, because that is an impossibility. Literally. Trading successfully, for profits, means consistently making more money than is lost. You may encounter losses, however, if your profits outweigh the losses, then in the long run, those losses wouldn’t matter anymore.
-
In order for an emini trader to become successful, there are techniques and strategies that he has to learn. One strategy that is not included is shooting from the hip. A lot of emini traders have fallen to 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. What they only care about is the money they will be making, just like an incompetent businessman who doesn’t think about the quality of his products, for as long as he’s got salesmen who claim to have the ability to make Eskimos buy ice cubes from them. Knowledge is always power when it comes to emini trading. In fact, it is the only magic that will be able to lead you to make profits.
For traders who want to gain knowledge, getting emini profits is expected after pouring due practice time and effort in it. Practice is one of the most important ways that you will gain emini trading knowledge. The question is, how will you be able to do that without having to initially lose a lot of money to the point that you can no longer afford to practice? You will be able to do this using 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. The advantage is that an electronic trading account is linked to real trading and would present you actual results just like you are actually trading for real.
Aside from using an electronic virtual account prior to engaging in emini trading, finding a mentor is equally important. This means that you learn and study what profitable traders do and know. Study, practice. Sound familiar? It is the way to be successful with emini trading, just like in everything else. If you want to try to make $6 million or more gambling, take a trip to Las Vegas or Atlantic City. Don’t consider trading.
Click here to learn more about eminis.
Posted by Frederick. Posted In : Emini