Day trading Emini S&P contracts is really a great way to make a living! I hear and read a lot of articles, newspaper ads, and even one or two ezine ads claiming that day trading is a surefire way to lose all your money. Totally disagree. On the contrary, it’s a great way to work a few hours a day and make a very impressive 6-figure income.
There is no doubt that many new traders find themselves at risk and end up losing money in day trading. This bothers me when I read about it. It gives successful day traders, like me – a bad name. I know quite a few traders who have been successful in this field for many years. What I learned is that success leaves clues! Meaning, successful day traders seem to do the same thing while unsuccessful day traders do the same thing – which is, unsurprisingly, the opposite of what successful traders do!
We need to look at the root of the real problem, which is: why do most day traders lose all their money? I think this is a real simple question to answer. This is usually due to a lack of discipline and a solid set of day trading rules. Sometimes it is under capital and fear. Fear in and of itself is perhaps the biggest “killer” of day traders.
You can buy books, seminars and maybe create your own strategies for day trading. All of this is great, but if you can’t follow the rules to the letter – you simply won’t be a successful trader. The discipline of following the rules is hard to come by! I admit that when I first started I struggled with it because I was always changing the rules. It cost me tens of thousands of dollars. Read more about my successes and failures:
http://www.eminitradingstrategies.com/emini-trader.html
Finally, I learned that the key to successful day trading is trading for income. I do not trade at a target price. I know how much money I need each day and I go out and make it, and once I hit my daily profit goal, I simply let go for the day.
My trading methods are very simple and easy to learn. They need discipline! You must under all circumstances follow the rules. My methods generate at least 1 pip per day for trading the S&P 500. I back this up with a double cash back guarantee!
I post my real trading results on my blog every day
http://www.eminitradingstrategies.com/emini-trading-blog/ I do not publish “virtual” trades. Post real trades with real expressions! Some of my trades are winners and some are losers. Either way I put them out there for the world to see. I urge you to look at them. Every now and then I take a day off, on those days I post hypothetical results and make it clear that I did not trade that day! However, even with my hypothetical trades, they are very realistic trades that could have been executed with limited orders!
Please when people tell you that day trading doesn’t work, don’t believe it. You can earn very nice day trading. In my opinion the people who speak ill are simply the “wannabe” who didn’t make it. Instead of complaining about it, find out why it didn’t work out for you! Did you really follow every rule? Did you maintain discipline all the time? Whatever you do, please don’t scold the people who really do it! And do it successfully every day.
Recently I decided to teach my trading methods. Some of the reasons I do this is because I’m tired of hearing so much negativity about my line of work. I also have a strong desire to teach. I have shared my methods with a handful of people and I enjoy teaching, and love seeing the excitement and enthusiasm in them. If you have the discipline to follow a solid set of rules, you can be a very successful day trader.