article directory


Home | Top Editorials | Popular Content | Article Directory | Help/Faq's | Submit Articles | Account Login
Editorial Search







:: Main Articles :: Finance / Investing



Futures Trading: Beginners Tips
Futures Trading: Beginners Tips
I write about day trading rules and emotions a lot and maybe because this is the one question or area my students and those interested in my classes seem to inquire the most about. Can I actually make money trading? I do well on a demo account, but when I go live, I freeze up. I am always losing money, taking the losers. Why? How can you do it and not I?

The bottom line is that newbie traders, as well as, skilled traders lose money. The question is: Whats YOUR plan when you lose a trade and whats your plan when you win a trade?

For the newbies, you need to know the trading platform like the back of your hand first. This is the first essential step. Do not forego this step EVER.

Then, no matter what day trading system you are studying, you must establish a plan along with it, some ground rules. What do I do when a trade goes south? How much am I willing to lose for the day before I pack it up to return for a fresh start tomorrow? Conversely, what is my daily goal and once I reach it, no matter what my hunche or feelings of euphoria are, will I walk away and call it a day? How long am I willing to stay in a trade, how long am I willing to trade for the day, etc ¦

Ive said it before and I will say it again: You must know what to do when trading does NOT go your way. What is a good and tangible stopping point for you? Whether youve reached your daily goal or not. What you really need to master is the Plan B. What do you when things dont go your way. You can follow someone elses rules as a starter, but a trader needs to figure these parameters out for him/herself by actually going out in the trenches ie: LIVE day trading.

You cannot control the market by praying, keeping your fingers crossed and or with wishful, hopeful thinking. If youve taken 3 losing trades in a row, you need to know what your recovery plan is BEFORE you ever start trading.

With rules and a plan you know you will stick to without fail your emotions will have no part in your decision making process. More on this to come.
 
Visit day trade for further  information on futures trading.
 




 
Total Views: 444 | Approx word count : 422 | 06/24/2010
Writers Resource: Visit http://www.eminitradingstrategies.com/emini-trading-blog/ and Futures Trading for more information





MarketersDomination Related Articles
Using Paday Loans to Get Through a Crunch By: Elisheva Wiriaatmadja - Payday loans are an easy ways to grab some fast cash. Usually, you just fill out a simple application, and get a cash advance in your hands that day. Many people love them because you can get one quickly, and it will ease the burden of making it...
Atlanta Home Inspection For Your House By: Brian Jardine - Despite a weakened housing market, many still feel compelled to buy a home. After all, buying that first home can be a thrilling experience. It is normal to hesitate before making such an enormous investment but, if you know what to look for, going o...
Student Private Loans - Consider Staying Away By: Elisheva Wiriaatmadja - Student private loans may be one of the first options that students tend to opt into besides the federal loan. Unfortunately many of the students applying for a student loan are just too immature and inexperience to even come to the thought of compar...
Private Loans for Students are Number 1 Reason for US Debt By: Elisheva Wiriaatmadja - The Federal Reserve just released a report this month which states that the total amount of private loans for students have reached more than the total amount of credit card debt in the United States. The report shows that Americans owe $826.5 bill...
Know Your Car Insurance Coverage Types By: Evan Povich - Looking to purchase low cost car insurance? You can tell your auto insurance agent to start a new car insurance policy from the day you purchase and start to drive the vehicle. Note how important it is for any driver to have car insurance c...
When choosing a debt reduction company be wary of the scam merchants By: Michael Thomas - Any person who has financial problems and is looking to use a debt reduction company should make sure that they understand the relevant laws in the countries they reside in. The Fair Debt Collection Act is the one for the United States and if you are...
Home | Top Editorials | Popular Content | Article Directory | Support | Terms | Privacy | Account Login

Article Marketing | Article Directory | Article Spinning | Content Syndication | Article Distribution

© 2018, All Rights Reserved.
All other copyrights belong to their respective owners. Internet Marketing Forum