To become a successful online day trader, there are a few rules and plans you have to follow. You are not buying stocks and holding it for a period of time hoping to make money. Create your day trading system and follow it. This is a business, so treat it as a business. Lets get straight into some basic steps for you to start your E-mini business.
STEP 1- The first step you should do is go and get yourself educated about Eminis. There are many programs and courses out there, so make sure to look at what they provide for you before you get the course or program. Make sure they have many years of experience and that they are not giving you hype, you want courses that are going to provide you with valuable learning information. Make sure they have full ongoing support, so that if you were unsure about something or you needed any help setting up things, you can access them straight away.
STEP2- Create a trading plan. Your trading plan can consist of many different sections. For example, how much time you spend training and learning, how many hours can you put in a night to trade, etc. Make sure you clearly outline the steps of your trading plan. Commit to your plan is the biggest thing that will make you that successful online day trader.
STEP3- Psychology. Anything you do in stock trading or investing comes down to your psychology. Train yourself to think about how you things, if your under pressure or you lose a trade don not let it get to you, just move onto your next trade. The traders that can takes losses are the real winners. There are many books out there that teach you about this. One of the best sellers out there is written by Mark Douglas “Trading In The Zone”. This books teaches you how to handle the pressure when you are trading.
STEP4- To get yourself ready, download your free demo trading platform, which is where you will be placing your trades. Once you download it, follow your rules and start of with paper trading. Paper trading is where you place trades without real money. But before you can start placing trades you need to get some live charts. You can access this at ensign software.com. You can sign up and get access for 7 days free trial, after that it is $49.95 a month which is a genuine deal considering the amount of money you are going to make with Eminis. Then once you have finished this you can now go ahead and download your 30day free trial trading platform at infinityfutures.com. After that you have to fund your account a minimum of $2500us to continue using the simulation account or live account.
STEP5- Continue educating yourself and follow your rules. Before you enter the market with real money, use the simulation account and do your paper trades. Write down all your profits and losses, what price and time you entered the market. When you feel you are ready to get your feet wet with live money tell your brokerage you want to start live trading and then your set to go. Starting of slow and building is the way to go. If you feel that you were placing trades and hesitating and getting scared, go back to simulation trading as you are not ready for real money. Only enter when you feel you are ready to take wins and losses.
STEP6- Continue with your training and trading. Follow your day trading system and build up your confidence and experience. You not going to be a millionaire the next day, week or month. But you are building your future, dreams and lifestyle. So always be happy, remain positive and don not let anyone say you cannot do it. You know yourself, and you know what it takes to become successful. The real you is inside you. So enjoy your journey and become a successful online trader.
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