Mini Baseball
 |
US $14.50
E-Mini Day Trading: It's a Mindset
There is no shortage of talk about the type of person that should trade, personality traits that are conducive to trading, and overall trading technique. My general observation is that traders portray their profession as something akin to brain surgery. There are, in fact, very technical and complex trading systems employed by professional traders and they certainly would not be a good choice for a trader who plans to day trade from his or her home. But I tend to disagree with the complexity argument in trading, and believe that effective trading is the result of a proper mindset and thorough preparation. And really, neither is terribly difficult.
First and foremost, a good trader realizes that day trading e-mini contracts is not a get rich scheme. Further, if you approach trading and highly aggressive manner in hopes of striking it rich you will fail. You have the wrong mindset. A good trader fully understands that consistent trading is the key to winning trades. Aggressive trading usually entails initiating low probability trades with predictable results. A good home trader will stick with trading with the trend and being highly selective in the trades he or she takes during that trending period. There can be no substitution for this methodology, because aggressive trading inevitably results in catastrophic results.
And what causes aggressive trading?
It's the old get-rich-quick mentality many traders believe. Oddly enough, I don't necessarily blame this condition on the individual trader. I was perusing some of the trading education programs this morning and was shocked at some of the claims the programs were putting forth. Many advertised that you could double your money in a single month, and others claimed they averaged 35 points per day on the ES e-mini contract. This is a real head scratcher, as I know of no methodology, or at least no sound methodology, that will allow a trader to attain these sort of rates of return. Potential traders are misled as to the potential they may realize if they sign up for "Course A" or "Course B". The claims of many of these trading practitioners are well beyond what any day trader can expect. Personally, I suggest that earning 4 to 6 points every day, on a consistent basis, would qualify you as a competent trader. Incidentally, depending upon the number of contracts he or she traded, you would make a tidy sum with this much smaller prediction of potential earnings.
So why do trading programs make such ridiculous claims?
Under certain market conditions you can have a very hot streak, usually because the market conditions favor your style of trading. However, the market is far from a static creature and once the conditions change your style may not jive with what the market is offering. So in defense of the claimants of outrageous fortune, they may have gone through a hot streak and feel they have attained market nirvana. Of course, the streaks are short-lived and reality sets in with the inevitable results. Aggressive trading can be profitable at certain times, but over the long run the trader is doomed. The important thing to remember is to develop a consistent methodology and a mindset that supports that methodology.
What do you mean by a mindset?
I believe having realistic expectations about what you can do in the market and what you can't do in the market is essential for success. If you are considering trading e-mini contracts for a living, money management and emotional management are two of the most important factors in your success. The get rich quick mindset is not part of a successful trading mindset, nor is the emotional mindset that accompanies the get-rich-quick philosophy. Instead, the best traders I know have a consistent and conservative viewpoint toward trading the e-mini market. Tight money management is essential to stay viable in trading, which means not over trading or overextending the limits of your trading account. Further, traders with the proper mindset are not seduced into trading large contract numbers, instead they stick with trading 5 to 7% of their account on a given trade. Risk more than that, and you will be exiting the market involuntarily in short order. Good trading more resembles the turtle than the hare in the famous turtle and hare parable. We trade for the long run, and expect to make money over the long run. A good trader may have some exceptional days that are similar to the get-rich-quick guys, but those are the exceptions not the rules. In baseball terms, we are singles hitters and occasionally hit a homerun.
In summary, the proper mindset in trading is conservative and pragmatic. We trade with a time-tested system and never over extend our accounts or our trading abilities. We trade with the trend and avoid bucking the trend. In the truest sense, we are boring.
About the Author
Learn to trade from a full time trader. All active members may attend FREE daily trading room and receive nightly market recap video (a $495 value). Click here and get your free videos and FREE live trading room.
|
|
Trend Sports Crusher Mini Lite-Ball Pitching Machine $109.99 Trend Sports Crusher Mini Lite-Ball Pitching Machine. Hit mini lite-balls with pinpoint accuracy. With the Crusher Mini Lite-Ball Pitching Machine, you can train your eye to hit a ball approximately two-thirds smaller than a real baseball, and because the Crusher Lite-Ball is soft, you can use it anywhere! |
|
|
Louisville Slugger TPSHBAS TPS Mini Headband Assortment $5.99 Louisville Slugger TPSHBAS TPS Mini Headband Assortment. * TPS Mini Headbands Assortment * Includes 2 Black, 2 White, and 2 Pink |
|
|
Under Armour Mini Team Headband $9.99 Under Armour Mini Team Headband. Soft elastic headband with jacquard UA logo. Silicone UA logos keep band in place. Set of six. |
|
|
Trend Sports Crusher White Mini Wiffle-Balls $14.99 Trend Sports Crusher White Mini Wiffle-Balls. The Crusher Mini Pitching Machine Wiffle-Balls are the most accurate and long lasting mini pitching machine balls ever developed. Crusher Wiffle-Balls are the size of a golf ball and light-weight so you can hit them in the garage, gym, or at the ball field. |
|
|
Trend Sports Crusher Mini Pitching Machine Lite-Balls (2 Dozen) $14.99 Trend Sports Crusher Mini Pitching Machine Lite-Balls (2 Dozen). The Crusher Mini Pitching Machine Lite-Balls are the most accurate and long lasting mini pitching machine balls ever developed. Crusher Lite-Balls are the size of a golf ball, but are soft and light-weight so you can hit them in the garage, gym, or at the ball field. |
|
|
Easton Motion Full Zip Jacket $54.99 Easton Motion Full Zip Jacket. 100% high count polyester 100% nylon mini bullet mesh lining Side zip pockets FRM technology for complete extended range of motion Open bottom with drop tail and elastic draw cord Full front zipper |
|
|
1966 Baseball Guide Mini Book $14.62 1966 Baseball Guide Mini Book 1966 Baseball Guide Mini Book |
|
|
1955 Baseball Guide Mini Book $51.17 1955 Baseball Guide Mini Book 1955 Baseball Guide Mini Book |
|
|
Baseball Rampage Baseball Rampage T-Shirt $9.99 Baseball Rampage Baseball Rampage T-Shirt. |
|
|
Mikasa Promotional Mini Volleyball - Baseball Home & Baseball Office $2.99 Mini size Promotional volleyball, white only.Baseball Home & Baseball Office - Baseball Home & Baseball Office |
|
|
Bob Feller Autographed Baseball Mini Helmet $109.65 Bob Feller Autographed Baseball Mini Helmet Bob Feller Autographed / Signed Baseball Mini Helmet |
|
|
Mike Lowell Autographed Baseball Mini Helmet $73.1 Mike Lowell Autographed Baseball Mini Helmet Mike Lowell Autographed / Signed Baseball Mini Helmet |
|
|
Baseball Rampage Baseball Property of Athletic Dept. T-Shirt $16.99 Baseball Rampage Baseball Property of Athletic Dept. T-Shirt. Baseball Property of Athletic Dept. |
|
|
Baseball Rampage Baseball Dad T-Shirt $16.99 Baseball Rampage Baseball Dad T-Shirt. Is your Dad a baseball Dad? Whether it's a Father's Day gift or an everyday look, the new Dad T-shirt is major league. "Dad." |
|
|
Baseball Rampage Baseball Mom T-Shirt $16.99 Baseball Rampage Baseball Mom T-Shirt. Is your Mom a baseball Mom? Whether it's a Mother's Day gift or an everyday look, the new Mom T-shirt is major league. "Mom." |
|
|
Baseball Rampage 16 Position Baseball Scorebook $5.99 Baseball Rampage 16 Position Baseball Scorebook. 16 Player Baseball / Softball Scorebook Good for Baseball and Softball Leagues with 16 Convinient Batting Positions 30 Games Spiral Bound 9 1/4 x 11 Size Simplified Scoring Custom Print Available |
|
|
Baseball Rampage Life's A Game, Baseball Is Serious T-Shirt $15.99 Baseball Rampage Life's A Game, Baseball Is Serious T-Shirt. Why so serious? Because it's Baseball! This new shirt says it all. "Life's A Game, Baseball Is Serious." |
|
|
Baseball Rampage Baseball 25 Pack Lineup Cards $6.99 Baseball Rampage Baseball 25 Pack Lineup Cards. Baseball Rampage's 25 Pack Lineup Cards are perfect for coaches at any level. Made with NCR Paper so coaches can share their lineup with opposing coaches. 25 Lineup cards per pack. |
|
|
Baseball Rampage Gotta Have Em Baseball T-Shirt $15.99 Baseball Rampage Gotta Have Em Baseball T-Shirt. To Play, You Gotta Have Em. Let's Play |
|
|
Easton Baseball/Softball Facemask $12.99 Easton Baseball/Softball Facemask. Baseball Facemask has a tri-bar design to ensure protection with maximum vision, 3/16" steel wire, screw/t-nut attachment, and can be used with all Easton helmets. |
|
|
Baseball Rampage $10 Gift Certificate $10 Baseball Rampage $10 Gift Certificate. A $10 Baseball Rampage gift certificate makes a great gift for a birthday, holiday, or team gift for players or coaches. Baseball Rampage gift certificates are valid on any purchase made at Baseball Rampage retail stores or at www.baseballrampage.com. |
|
|
Baseball Rampage $100 Gift Certificate $100 Baseball Rampage $100 Gift Certificate. A $100 Baseball Rampage gift certificate makes a great gift for a birthday, holiday, or team gift for players or coaches. Baseball Rampage gift certificates are valid on any purchase made at Baseball Rampage retail stores or at www.baseballrampage.com. |
|
|
Baseball Rampage $25 Gift Certificate $25 Baseball Rampage $25 Gift Certificate. A $25 Baseball Rampage gift certificate makes a great gift for a birthday, holiday, or team gift for players or coaches. Baseball Rampage gift certificates are valid on any purchase made at Baseball Rampage retail stores or at www.baseballrampage.com. |
|
|
Baseball Rampage $50 Gift Certificate $50 Baseball Rampage $50 Gift Certificate. A $50 Baseball Rampage gift certificate makes a great gift for a birthday, holiday, or team gift for players or coaches. Baseball Rampage gift certificates are valid on any purchase made at Baseball Rampage retail stores or at www.baseballrampage.com. |
|
|
Worth Baseball Pitchers Training Kit $29.99 Worth Baseball Pitchers Training Kit. Worth's Baseball Pitcher's Training Kit incorporates three weighted baseballs to work on arm strength. |
|
|
Wilson WTA310159 Baseball Helmet Facemask $19.99 Wilson WTA310159 Baseball Helmet Facemask. Wilson's Baseball Helmet Facemask provides additional protection to your face in the form of a lightweight, durable, attachable face guard. |
|
|
Signed Dontrelle Willis Baseball - Mini Helmet $43.86 Signed Dontrelle Willis Baseball - Mini Helmet Dontrelle Willis Mini Helmet Marlins Autographed / Signed |
|
|
Easton Baseball Belt $5.99 Easton Baseball Belt. Easton's Baseball Belt is a solid color adjustable elastic belt with heavy-duty elastic webbing with matching color leather tabs and a nickel buckle. Adult- Width: 1 1/2'', Fits Waist Size: 30-46. Youth- Width: 1 1/4'', Fits Waist Size: 18-32 |
|
|
Nike Core Baseball Pant $19.99 Nike Core Baseball Pant. Poly warp knit baseball pant with reinforced knees for durability Brass zipper and two metal snap closures Two back pockets and performance five-belt loop system Elastic leg openings 100% polyester |
|
|
DeMarini Aluminum Fungo Baseball Bat $64.99 DeMarini Aluminum Fungo Baseball Bat. The DeMarini Fungo Bat is a traditionally designed fungo bat made with ultralight 7050 aluminum alloy and is great for practices. DeMarini baseball fungo bats have a composite grip. |
|
|
Rawlings R100 Official League Baseball $89.99 Rawlings R100 Official League Baseball. High school approved baseballs. NFHS stamped baseball with full grain leather cover. Three individual 85% pure wool windings. Cushioned cork center. Superstitch raised seams. |
|
|
Diamond D1-PRO Professional League Baseball $79.99 Diamond D1-PRO Professional League Baseball. The Diamond D1-PRO Professional League Baseball provides consistent performance from the first inning to the last, durability to help the budget and the perfect raised seam. Each pack contains 12 baseballs. |