What Goes Up Must Come Down | Oct. 12, 2015
http://eminitutor.com/ What Goes Up Must Come Down | Oct. 12, 2015. Learn Professional Day Trading entries and exits to gain consistency. Futures Strategies and Setups using EMini Tutor’s “One On One” Approach – It’s one thing to know what to do. It is an entirely different matter to know how to do it well. And at the time, you didn’t even really understand what you need to get good at, besides of course execution and sticking to your trading system.
Reduce Emotions While Trading:
- Are you finding excuses not to trade? Too groggy in the morning, need to mow the lawn before the sun comes up, need to do this, that, everything but trade!?
- Do you now simply sit with your cup of coffee in your hand every morning and watch your trading platform because your confidence has turned to doubt?
- Have you experienced trading losses that have affected your self-confidence? Is it so bad that you’re now having trouble “pulling the trigger”?
- Do not put yourself into a position where one trade can make or break your account. The less each trade means to your account, the less emotion you will have.
People do not like to be wrong. After we take losses, we are angry, and want to get back at the market. We’ll enter trades just to get our money back, without forethought or consideration. A trade made irrationally from the beginning is doomed to fail. This is commonly referred to as “revenge trading”.
Games are meant for excitement. E-Mini trading is for generating income, and should not be used for excitement. E-Mini trading is a very profitable business, and should be treated as such. The whole ‘Discipline’ fallacy, is only a deviation from the real issue. It’s not a matter of discipline, it’s about becoming the trader with the skills, know-how, and tools to have the real confidence.
Confidence is the ability to create a trading plan and then execute according to that plan. In order to do this a trader must learn to stand outside of himself and become emotionally detached from the trade. When a trader creates a plan and executes, either making a profit or taking a small acceptable loss as allowed for in the plan, this creates a positive feedback loop. If trading is executed in this way and is repeated over and over again, then confidence is developed.
