Learning to Trade the E-Mini's: The Vicious Learning Curve
Learning to Trade the E-Mini's: The Vicious Learning Curve
I get a chance on a regular basis to work with traders new to e-mini trading and it can sometimes be a frustrating and humiliating experience. Sometimes it's difficult for me, as an experienced trader, to understand why new traders take trades against the trend, straight into resistance, or some trades that are just plain inexplicable.
And then I have to stop for a moment, and remember my attempts many years ago to learn to trade and some of the ridiculous trades I thought were a "sure thing."Of course, there is no sure thing in the world of trading, just from probabilities and outcomes of probabilities. There are trades you can take that have higher probabilities for success than others and that is goal for which we strive. But it is easy to forget all those failed trades and monies lost that went into my e-mini trading lessons, and there were times I thought it was completely hopeless to even attempt this insane profession.
Somewhere along the line, a light went on and the trades seemed to miraculously start going my way. Like most skills, learning to trade is an ongoing process and at some point things begin to click in your mind. The exact time when traders begin to recognize good setups and avoid bad setups varies from individual to individual. Just the same, it is my opinion that most individuals can learn to trade with hard work and determination.
For some people, the trading temperament is a natural function of their personality and they seem to recognize and learn to trade more readily than others. Like most things, we all have skills in our possession and the trading temperament is just another skill. For others though, the trading mentality takes work and practice. I think I fall into the latter category, even though I have enjoyed great success in the trading field throughout my career. But none of it seemed to come naturally, and for every success there were discouraging setbacks. But as time went on, the setbacks became less frequent and the successes more common.
So what's the point of this discussion?
The e-mini markets are not ATM machines. The fact that you have a nice size trading account and are a relatively intelligent individual in no way ensures your success. There is much to learn and finding a competent trading professional is the surest way to increase your learning curve. Throughout my career, I have been blessed with several individuals who mentored me and help develop my distinct trading style. In short, I learned the ropes from these people. Don't expect to master the e-mini markets without some learning pains and some competent instruction.
Why?
You would think that trading would be an orderly and logical process; but nothing could be farther from the truth. The market moves in discernible patterns, but these patterns are not readily apparent at first glance. You'll find yourself chasing price action and hoping (instead of knowing) for a positive outcome. No, learning to trade the e-mini markets is a process to be learned and very few individuals enter this arena and succeed without hard work and training.
In summary, I have encouraged new traders to seek out competent instruction and avoid trying to trade the e-mini on natural intuition. I have also pointed out that the markets do not move in a logical manner, but at times there are very discernible patterns that competent traders recognize and profit from. Finally, it takes time, effort, and training to reach a point where you can consistently profit trading the e-mini markets. Consider A Hybrid If A Electric Motor Scooter Isn't Really Your Best Choice Top Selling Christmas Gifts 2010 Online Winter Wedding Invitations For Your Big Day The Marvelous Bogota--A Treat To Visit by:Robert Toth More savings when you buy Fioricet at Cheapest-Fioricet.com Sports Create A Variety In Men Shoes Collections The Secret Behind The Best Female Orgasms Introducing Change In A Non Intimidating Way St. Louis Injury Lawyer - For Making The Claims On Behalf Of The Injured Watch Casino Jack Online The Serene Global Services Launch Their Redesigned Website As A Fusion Of Art With Commerce Piles Can Now Be Cured By Ayurvedic Treatment Magical Work Of Prada Shoes For Men