Does the idea of becoming a emini trading rock star sound appealing? Are you tired of banking profits on one trade and giving it all back and then some on the next one? Does it seem that others hold the secret to success while success eludes you even though you know you have what it takes to become a professional futures trader? Are fear, self-doubt and indecision your constant companions on the daily emotional rollercoaster?
Then read on because you are about discover 2 simple tweaks that can radically change your life as an emini index futures trader. Triggers that can re-program your thinking and approach to the markets while avoiding the daily cycle of emotional Russian roulette.
So what do I mean by re-programming your thinking and approach to the markets?
This may sound unoriginal and oversimplified, but trading is a matter of perception, and attitude and MASSIVE dividends of overlooked opportunity and extraordinary profit can be achieved by implementing simple tweaks to your mindset.
1) Forget about profit!
Profit is the by-product of success. It's the payoff. Yes, profit is extremely what we are after as traders and logic would dictate profit should be our goal. I'm telling you to forget about profit and put all your effort, energy and resources into learning to trade WELL! Stop thinking about percentages and how much you MUST make everyday in the market to pay your mortgage or car note. In fact, you should not be in the market at all if you have concerns about paying monthly expenses. These kinds of worries are costly distractions that will negatively negate your trading decisions.
Instead of profit, focus on understanding the futures market; times of the day most compelling to successful entry, when to be in or out (being on the sidelines is a position, by-the-way), test strategies and set-ups, discipline yourself to obey your stop-loss without exception. .. in other words; live and breathe trading well through study, training and practice and forget about profit.
2) Become machine-like methodical.
Automation has revolutionized every industry including the capital markets. Automation is not plagued by emotions and relationships entirely on signals and only responds when signals are present and respond to the instructions given by the individual signal. You should do the same and react only when a signal generated by your trading system instructions you to do so, not before or after. If the market goes against your position and hits your stop, exit the position immediately. Do not think! REACT! Train yourself to become robot-like methodical and follow the rules of your trading system.
Mick Jagger had the single-minded goal to become a rock star and has been the lead singer of the world's greatest rock and roll band for over four decades. You can become a emini trading rock star by not focusing on profit, eliminating the emotional baggage and learning to trade well through practice and methodological repetition.