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E-mini Day Trading
General Guidelines
 

 

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If you’ve been to the other pages on this site, you’ve read my specific tactics for e-mini day trading (emini trading tips and day trading the eminis) with my RBI strategy, based on fixed and dynamic support and resistance trading.

I’ve done my best to convince you that when you are emini day trading, your exit strategy, on both good trades and losers, is more important than your entry strategy. If I haven’t convinced you of this one point, please go back and re-read everything on this web site a second or third time. Your success as a day trader absolutely depends on getting this concept and using it.
I’ve emphasized the fact that you’re going to need the best
day trading advisor you can possibly find who has years of trading experience and also trades for a living.

Invest in some emini day trading courses. You will spend at least this much money and probably more fighting your own untrained human instincts, as well as fighting the professionals who (1) understand trader’s natural weaknesses, (2) know most of the public’s “retail” setups and hard stop placements, and (3) have deep enough pockets to ride out most of the intraday market moves.
If you're thinking that the cost for a trading course is high, it may be that e-mini day trading is not for you, because financial markets are risky, and investing is risky. If you're not willing to pay for the chance to decrease that risk, you may be training for the wrong profession.

Now here’s some general e-mini day trading guidelines.

Several of the RBI trading entries involve stepping in front of a quick, strong-looking move at just the right moment of emotional exhaustion to catch a small gain or a trend reversal. In order to avoid getting run over on these, you need to develop a sense of when the trend is so strong it’s unwise to fight it. In these situations, switch entries and use a pullback to RBI dynamic support or resistance to enter with the trend. This is one more area where experience and “Real-Time” training are valuable.

If you have 2 or 3 losing trades in a row, take a break from e-mini day trading. Get away from your computer screen and get your emotions under control. Then after 15 minutes or so when you go back to trading, remember that your former losses must have zero affect on the rest of your trading. The tendency will be to increase your risk in some way to compensate for the losses. This is a rookie mistake. A consistent approach (where you forget about hitting home runs to make up for any losses) will work in the long run. Anything that takes you away from your defensive posture (every trade starts out as a scalp until proven otherwise) will kill your success in the long run. Focus on the long run.

When e-mini day trading, keep a trading diary… at least until you’re making a profit for six consecutive months. But keep the log easily doable. A good way to do it is to mark your entries and exits on the chart you use, then copy and paste it into your journal at the end of the day with minimal comments.

Study your trading diary every weekend. Take notes of what works and what doesn’t. Write these notes in red on the charts so you can review them quickly at the end of each month. (Don’t make this a burden or you won’t do it.)

When you find an e-mini day trading method that works for you (mine or anyone else’s) don’t share it with anybody. A trading edge is like a magic trick in a way. If a professional magician tells the public his secrets, he’ll soon be out of work. I teach my e-mini day trading method to a handful of select traders during my RBI Trading Camp. If my students keep this method private, it will continue to make a good living for those of us who have the discipline and the fortitude to trade it.

Support and resistance will never disappear from liquid markets, any particular way of trading a market edge can lose its effectiveness if it becomes popular. This is common sense among professional traders. Don’t give away the family farm. I’m not. My Trading Camps are small and infrequent, I won’t be teaching my RBI strategy long enough to overexpose it, and the trader’s who take my classes sign a non-disclosure promising not to sell or share my trading strategy.

When e-mini day trading, write out a detailed trading plan that includes your exit strategy, all your entry setups, all your rules about maintaining discipline, and exactly what you’ll do if your discipline falters, regardless of the trade’s outcome. Do your best to rank your entry setups in order of highest probability to lowest. Gradually develop enough confidence in your best ones to increase your trading size when they show up, always keeping your risk per trade down to a tiny fraction of your overall trading account size. Whenever you make money by entering or exiting a trade outside the parameters of your trading plan, stop trading and remind yourself, “success” outside of your trading plan is poison. Failure is much better when your discipline slips! To make consistent profits e-mini day trading, you have to “program” your mind to work within your own strict parameters until your strategy become a natural reflex.
 

If for some reason you are under serious emotional stress, like a divorce or a death in the family, don’t trade real money when e-mini day trading. You’ll make your situation worse, I guarantee it. It would be like stepping into the ring with a broken arm to face a heavyweight. Wait until you are at least 80% back to normal. In the mean time, simulation trade with strict discipline… or just watch the market passively to improve your rhythm.
 

Be patient, optimistic, well-informed, and above all, persistent. Success in any business takes years… but when you arrive, you are the boss. If e-mini day trading is your successful business, you can move anywhere in the world (with an internet connection). You can take vacations any time. You don’t have to please customers or employees. There’s no inventory headache, no sales team to motivate and no advertising costs. And you’ll be doing work that’s often very exciting and always interesting. You’ll look forward to Monday mornings for the rest of your career. Actually, that may be the best thing about professional e-mini day trading.

Expect to spend 3 to 5 years before turning a consistent profit e-mini day trading. You can greatly shorten your learning curve by following my
RBI Trader’s Updates. They give you my daily trading plan which is based on the most accurate support and resistance levels you’ll find anywhere. I’ve been publishing them to all levels of traders since 1996.

For more intense and in depth training, my week long “RBI Trading Camp” will help take your e-mini day trading to a new level.
Click here  for more details. I’ll teach my strategy for a limited time, to a limited number of traders (for the reasons I mentioned above).

There’s never been a better opportunity to turn the corner and become a consistent trader.

 

The Truth About Online Futures Trading

Day Trading Advisor: The Right Choice For You
Day Trading Help: High Probability Entries

Learn Day Trading
Day Trading Predictions -The Downside

Day Trading Tips Worth Reading
Day Trading Support and Resistance

Day Trading The Stock Market
Day Trading Advise: Identifying and Exiting Losers
The Benefit of Support and Resistance Trading

Trading Tips

Day Trading Psychology
Day Trading Futures

Emini Trading Tips

Stock Trading Strategies

1987 Crash
Advice on Day Trading

Day Trading The Emini

Stock Market Day Trading
Emini Day Trading

 

TradeStalker.com, Investment Advisory Service, Fort Wayne, IN

 

 


Disclaimer:
The financial markets are risky. Investing is risky. Past performance does not guarantee future performance. The foregoing has been prepared solely for informational purposes and is not a solicitation, or an offer to buy or sell any security. Opinions are based on historical research and data believed reliable, but there is no guarantee that future results will be profitable.

We are not advocating trading futures. The prices and contracts in the TradeStalker's RBI Updates specify a manner in which you could trade. We occasionally mention the SP500 and Nasdaq futures markets because it is extremely liquid and tends to lead the other markets. This is not an endorsement or recommendation of the SP500 and Nasdaq futures markets. The risk of loss in futures is substantial. You can lose more than your original investment. We are not Registered Investment Advisors or Commodity Trading Advisors.


 

 

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