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E-mini Futures - Learning How To Prevent Yourself From Revenge Trading
To learn to trade E-mini Futures visit http://daytradervideo.com Last week was pretty darn ugly. That's about
as nice as I can say it. If you commonly trade E-mini futures then you will know exactly
what I'm talking about. What most don't understand is the fact that losing is part of this game.
If you're going to be a big winner in the game of day trading, then you have to get
used to that fact. Many people have a tremendously hard time getting used to this simple fact.
Furthermore they wind up having days where they are chasing their losses. These days
are better known as revenge trading. Revenge trading can literally decimate a bankroll
faster than a kid gobbling down some candy! Why am I telling you this. Well it's because
last week I got my butt kicked. I lost the most I've ever lost in a weeks time. I finished
down on the week at -5 points. The thing is that the old me would have been kicked even
harder. Why didn't this happen?
Well it's simple. I've become better at knowing when to quit when the market gets rough. It's
a skill that many don't even actually realize that they have to acquire. In fact I have
not seen it mentioned ever in a video or any piece of reading material.
So, how do we get good at this skill? The answer is simple. It takes a three step
process to actually develop this skill set. Now don't take this as the gospel as this
is just the way that I was able to improve this skill for my own self. You can definitely
get better at this doing many different things. 1. Reaffirm the fact that losing is part of
the game. It's just going to happen You can do this by journaling this and then
reminding yourself daily and reviewing that journal entry. Revisit this every now and
then. 2. Establish sets of rules.
For example, in the current market environment I will quit trading when I've lost three consecutive
trades. 3. (2nd rule) If I have two straight losers
in the current market environment then I will just wait until a trade works before I jump
back into the market. As you can see if we take small steps eventually
we'll reach our goals. Trading e-mini futures is something that anyone can learn as long
as they approach it the right way.