In this article, I talk about an important concept to making the transition from paper trading to real money trading as smooth and easy as possible. Sometimes taking that leap of faith can cause emotional distress that causes traders to not following their trading rules. This one concept helps to resolve that issue.
A Bit More on Order Flow and Integration Into E-Mini Trading Systems:
Recently I wrote a short article on order flow trading and have received an unexpected number of inquiries about the nature of order flow trading (OFT). The common question centers on how to use the data presented by OFT programs. I should say from the onset that many order flow vendors (Note: I have no financial interest in any OFT vendor) promote their products as stand-alone products, though several suggest integrating order flow into your current e-mini trading system.
What Is the Absolute Best Contract for a Beginner in E-Mini Trading?:
From the onset, it is important for every beginning trader to understand basic e-mini trading technique, support and resistance, volume, and some understanding of order flow. It is my opinion that the most difficult e-mini contract to trade for beginners) is the S&P 500 contract (ES). I could go on for several pages about market efficiency theory, but in a nutshell, the ES contract is extremely efficient because of the level of arbitrage and High Frequency Trading.
Taking A Look At The Forex Calendar:
A Forex calendar is a document that has all the important economic indicators and events. The document helps you in keeping track of the Forex estimates made by Forex experts. As a trader, you will find all the information that you need in order to predict the future.
How Long Will It Be Before I Actually Start Making Money E-Mini Trading?:
A good number of individuals want to learn to trade e-mini's because they are under the impression that trading is a fast way to untold riches. I am not surprised. Prior to writing this article, I perused some of the vendors offering courses in how to learn to trade the e-mini's. There were some fantastic claims and eye-opening numbers.
The Master Trader Part 1:
This article explains why profitable traders are profitable. The mastery of trading is a long and uneven process of consistently looking for improvement combined with a high level of discipline. The steps that I have outlined here are not a prerequisite for successful trading, but definitely act as a great tool for improvement.
Most Novice Traders Have an Unrealistic View of Their Potential Success in E-Mini Trading:
One of the things that is a source of constant discouragement for me is the illusory expectation of fantastic returns and instant success in learning to trade the e-minis'. Most competent trading mentors try to set attainable expectations for traders from the onset; this approach sets the table for the incremental learning cycle that typifies e-mini trading success. However, if you peruse many of the e-mini website offerings the success in attaining consistent profits is often minimized or greatly exaggerated.
Becoming an Expert Forex Trader by Knowing How to Use an Economic Calendar:
The Forex trading industry is a highly competitive one. There are people who have been working in the field for years and still have not figured out a way to consistently predict the direction of currencies. If you are new to forex, you will want to know about an economic calendar and how to make the best use of them to make money.