First Comes Success – Then Comes the Dreaded Fear-Based E-Mini Trading Blues

Mar 31 2022 Published by admin under Uncategorized

One of the first things I tell my new members is that trading is primarily an intellectual exercise and all the oscillators and indicators you can accumulate will not necessarily make you a better trader. In short, how well you trade is directly related to how well you can think like a trader and not a layman fresh off the street. That being said, some of your best trade setups will occasionally end up producing negative results and this can be very discouraging to new e- mini traders.Okay, I think we all know that you, as an e-mini trader, are going to lose some trades regardless of the merits of your setup. There is no trade that has 100% probability of success and losing trades is simply part of the process of learning to trade. I lose plenty of trades and so do all professional traders. The real mark of a truly accomplished trader is how he or she handles and unexpected losing trade. My advice is to look at each trade individually and pay no mind to the previous trade, whether it was a winner or loser.What if you lose 2 or 3 great set up trades in succession?Well, it is certainly not out of the realm of possibility that you could lose several correctly placed, high probability trades at some point in your trading career. To be sure, probability dictates that you will lose several very high probability trades in succession; taking a trade that you consistently win with and watching it fail can be confusing and disheartening to most individuals and they develop a “bunker” mentality. Quite simply, they lose their confidence in their “go to” trades and become very conservative and hesitant to trade with authority.As a new trader, you typically trade with your mentor for several days and hit a good number of winning trades. I like to follow members of my program for several days and make sure they are taking the trades that are likely to be profitable for them. But eventually every trader wants to pick his or her own trades and develop a sense of individuality in trading. It seems to me that the tendency to “go it alone” happens at about two months of live trading. Then, they hit execute 2 or 3 high probability setups that go south on them in a big way. They lose confidence. They lose their edge. You have to have some sort of edge to successful. My edge has always been not restricting myself to lagging indicators and trading in real-time. I guess I would mention that any trader has to have a certain level of resiliency, but that’s for another article.Fear based trading can be one of the most debilitating conditions a new trader can encounter. They seem to lose the ability to “pull the trigger” and off and end up entering trades late and taking profits far earlier than normal. In short, one of the surest signs of fear based trading is taking profits very early in a trade and not letting it run.In my experience, traders tend to buckle down and outgrow this fear as they develop confidence in probability and acceptance of a few losing trades along the way. But there is another group of traders who simply cannot stand losing and each losing trade drives another nail in their coffin of trading failure. My experience with this type of trader is they began a quest for the “trading holy Grail” and spend years and thousands of dollars trying to find that 100% guaranteed trading method. It doesn’t exist.Overcoming fear based trading takes patience and the steady hand of an experienced mentor and is usually not an insurmountable obstacle in a new trader’s quest for success. On the other hand, those traders that simply cannot accept a losing trade find them self in a never-ending search for the next magic e-mini system or a miraculous indicator that shows all winning trades with 100% accuracy; good luck with that.

Comments are off for this post

Give a Chance to Binary Options Trading This Season

Mar 24 2022 Published by admin under Uncategorized

Binary options trading has a lot of rumors and controversy around it, but it is, in fact an easier and enjoyable form of trading. Especially if a person is new to the world of trading, as this is easy to understand. In binary options trading, a trader bets on stock and either earns money if it matches within a certain amount of time or loses it. That is why it’s a risky but equally exciting way of earning money. There are just two options of ‘yes’ or ‘no,’ hence the name binary.

If the stock price does not fall on the correct side of the strike price within the expired time and date, then the trader loses the money. But if it does fall on the correct side, the trader gets a profit.

For example, if a stock is trading at $60, the binary option has a strike price of $65 and expires at 12 pm the next day. The trader can buy the option for $50. If, after the expired time, the money goes above $65, say at $100, then the trader gets a profit of $50 (100 – 50). But if the money falls below $65, that is, it’s out of money, then the trader suffers a loss. Either way, it is good for practicing day trading as it helps in building an accurate intuition.

Another important part of binary options trading can ensure that the trader is not getting into any scam sites. This is because there have been cases of the trading system being rigged and the company profiting from all the activities. That is why a binary options broker is essential for the trading to be legit. Brokers help manage the amount, and they also do not take any commission for a trade that ended in a draw. Brokers are necessary for any trading because whatever profit the trader earns from trading will be their own wealth. There are no cuts from the amount, except for the commission the broker gets. But the majority of the amount goes to the individual.

Here are some of the benefits of having a brokerage account and a stockbroker:

· Trade with many companies – The person can place their options on any stocks that the broker has access to. And this may be every company listed in the New York stock exchange or Nasdaq stock market.

· Individual and independent trading – With brokers, an individual has direct access to the foreign exchange in stocks. That gives the independence to invest in international stocks and decide the stock selection.

· One-time money management – Many brokers understand the importance of other investments like bonds, mutual funds, and bank account products. Hence the broker lets the trader get a single environment that can take care of all this, letting the person have a simplified path to money management and not have accounts spread out for different investments.

· Customer service – Brokers also give financial advice that goes beyond finance or trading. Every broker has a different form of service, but working with a broker will also help get different resources for better managing the finances.

An ideal broker has many features that can be attractive depending on the facilities. Like the forex brokers. We offer an attractive number of options for both binary trading and day trading. The Forex education can also help in getting you educated on the basics of trading. And the binary options brokers can help you get the most profit from the trading. Do check us out. We will not disappoint!

Comments are off for this post