Low starting capital has a lot to do with it's popularity.
Many assume if you have $1,000 and an internet connection, you are on your way to a potential ongoing income.
Right from the comfort of your own home.
The high leverage and liquidity is also a draw.
It is favorable and ONLY works when you know what you are doing; and not during your education.
If you begin your eminis trading career with the hope of financial freedom, statistics have proven eminent failure.
Why? Because it looks easy.
The lure of eminis trading.
Who Is Eminis Trading For? Once we get past the dream of the luxury lifestyle, we can begin to focus on our trading strategy.
What a lot of trading gurus don't tell you in their promo videos is that your account is more than likely to take a hit after the first 12 months.
Hence the risk disclosures everywhere.
But nobody tells you this, right? The biggest conquer every trader will face is being able to accept their losses.
People who come from professional backgrounds often fail miserably in this industry.
As an example, a doctor with all the training and education strives for a very high success rate with diagnosis.
Do you assume this doctor will make a good trader? This is a very important point.
I personally have come from a background where for most of my life, I would strive for perfection.
Having business's of managing staff, I had control of my immediate surroundings.
In the normal world, I could relate and was able to function.
Although when I begun eminis trading, this characteristic cost me considerably.
You CAN NOT force trading into the personality.
The personality MUST fit the trading.
These 6 little words will save you thousands of dollars.
So being wrong every now and then isn't such a bad thing.
Unfortunately, this isn't part of our wiring, we're human.
How do we focus on our targets when we keep getting beaten up? This is where a shift of thinking is required.
Eminis trading requires a shift in mindset to the neutral position.
As you look at a potential trade setup, you need to bring your physical and mental state into neutral; or as close as possible.
If you find your stress levels rising beyond a manageable point, it is advised to stop trading before you run yourself into the ground.
You are more than likely trading with more contracts than you are comfortable with.
I have not only lost my hair, the very little remaining has turned grey over the past six years.
Getting my emotions under control and bringing my heart beat to a relaxed state has helped me focus on the job at hand.
The target: making money and slowly increasing my position size.
I have become very good at bringing my emotional pendulum to neutral.
Now I'm not saying I'm perfect; I have had a few blow outs every now and then.
You must be able to accept a losing trade.
It has absolutely nothing to do with the following trade setup.
This is key.
Revenge and reactionary eminis trading is for the weak.
That's the retail trader.
Eminis Trading for a career.
Is it just a mirage? The sooner you get over the thought of becoming an instant millionaire, the quicker you control your potential to trade for a living.
Focusing on replacing your current income is the hardest goal you will ever set for yourself.
We only focus on making money - not the losing part.
I often tell my members, I will never forget my very first break-even month.
WHAT?...
a break-even month? Yep! I was working 14 hours a day, scouring the charts and executing every trade for a break-even month.
If you have never traded before, you are yet to understand the term; "Eminis trading is not for everyone".
That break-even month was the very first time I didn't end in the red.
This was four years from the time I began trading.
Getting a grasp of trading and the methods we use are only tools.
Sure we can take a few good trades every now and then, although expecting to consistently turn over a profit can be very strenuous.
Let me paint you a picture.
When we're employed, payday comes around once a week and we're off to the bank.
- What happens when the boss can't pay you this week?
- Where would you be without your salary?
- What if the tax department took a further 10% of your savings in that same week?
- How do you feed your family?
It will run closely to what I have just described.
Professional traders will reach into your bank account and take funds without your consent.
Now if this doesn't scare you and you are still reading, please ensure you understand the risk disclosure.
Only then will you start your journey to become the trader you want to be.
The trader who brings home the bacon!