How Much Money is Needed to Begin Emini Day Trading
How Much Money is Needed to Begin Emini Day Trading
In order to be a successful trader you must have a few things in order.
First, you need to have the right attitude. You should be able to think quick and make clear concise decisions when you need to. Working well under pressure is a key trait for the world trading. Fortunately, this is a skill that can be learned and/or honed if you need work in this area.
Second, you need to have an area set aside for your workspace. A workspace should have a computer with software loaded, internet connection, and be setup for business with no distractions.
Third, you must have a clear understanding of the market.
Last, but not least, you must have the finances to support your new business venture.
One of the most common questions new traders have is how much money do they need to get started? Fortunately,trading e minis does not require as much money as other types of trading. For example, to day trade stocks / equities one needs at minimum $25,000. For emini trading you only need $3,500-$5,000 to get started. The leverage in the emini market allows for proper money & risk management with this amount, which makesemini day trading much more realistic for many people.
More and more people are turning to the eminis for the reason of low entry requirements as well as the ability to have $500 day trading margins. Just because the cost of entry is low, however, does not mean that money management should be negated. When everything functions in harmony, the trader becomes a success!
http://www.articlesbase.com/day-trading-articles/how-much-money-is-needed-to-begin-emini-day-trading-3666290.html
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