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Sunday
Mar032013

Learn To Earn Daily Income Trading Emini Futures

(QQQ)(DIA)(SPY)(GLD)(FB)

 

Creating A Paycheck With Emini Futures

 

Do you look at trading differently than an ordinary job?  In some regards we should, but when it comes to earning a living.. we can't afford to. Let me begin by saying that Trading Emini Futures is what I consider to be a highly skilled profession. You will not gain the knowledge or skill set, overnight.

You must be realistic from the outset. There will be an extended period of time in the beginning where you will have no income from your trading business. You need to either have a separate source of income or sufficient capital put aside for your living expenses. Many traders with excellent potential unwittingly sabotage their own efforts because they rush into trading with real money before they are ready. We all understand the pressures of bills, mouths to feed, etc..., this is why you must factor this in before you get started, as opposed to after it's too late.

If you're tracking with me, you're asking yourself "How much do I need?". That's a great question and the answer will be different for every individual. There are 3 major things to take into consideration -

 

  • Your monthly outflow - Make a list and check it twice. You need a hard number that includes everything from electricity, to internet, to groceries, to health care. This number assumes that you already have in place a minimum 6 month emergency fund. Do you?

 

  • Time required to become consistently profitable in the simulator - This number could be 6 weeks, or 6 months. In all honesty, it could take longer. You must master at least one setup. The one we use each day in the Live Trading Room has the fewest moving parts. In the beginning, you need to be able to focus on that setup alone, master it and become confident in your ability to execute it.

 

  • Time required to transition from simulator to live trading - Becoming consistently profitable in the simulator is step one, the next step is to transfer your new skill into the arena where trades are placed with real money. Everything is the same except you. You may be Cool Hand Luke in sim, but who you are with real money on the line is yet to be seen. Some traders transition quite gracefully, while for many, we must endure a few false steps and quite often return to sim to regain our balance and confidence. This is not a sign of weakness, this is a sign of great strength. Arrogance is short lived in the world of trading. The humility required to return to the simulator as often as needed, is the hallmark of someone who someday may persevere their way into a stellar career. We must build our trading business on a solid foundation, this is how it's done.

 

If you were required to , every indicator, the meaning and importance of every economic report and be able to correlate markets and currencies and the GDP of every major nation, your 6 weeks or 6 months, might easily become 6 years. The good news is, you don't. Over time you will learn much of what I just mentioned simply by association. When you're around something long enough you tend to pick up bits and pieces until at some point you actually surprise yourself with how much you know. While there are no guarantees of success by becoming a CFRN Partner, your only task in the beginning is to learn the trade setup we teach every day in the Live Trading Room

This is a very basic trade which uses our proprietary Slingshot Indicator and CFRN Methodology. For many months, day after day, Michael has demonstrated how this trade setup when properly executed, has the ability to produce 2 points in the first 2 hours of trading. Michael not only trades the same setup, day after day, trade after trade, he also attempts to answer questions and teach. My point is that his focus on the trade itself is often less than 100%, yet with the exception of 1 day since October, he has managed to post his 2 points in the first 2 hours. Our hope is that if you are focused on just 1 or 2 markets with no distractions, you will not only be able to do as well as Michael, we would like to think you could do even better.

What if you can't? Well first, we will try to figure out why not. Are you using the proper time frame? Do you have the correct indicators loaded? Do you understand the premise of the trade? Do you know when to get in? Do you know what type of order to place? Are you proficient at managing your risk and taking your profits? If the answer to all of these questions are "yes", we will continue to probe and attempt to isolate the problem whatever it may be.

In closing, let me ask a question. What if, despite your best efforts, your focus, dedication, lack of distraction, you still aren't as good as Michael? Now it won't be because of the indicators or setup because you are using the exact same tools as Michael in the exact same markets. Let's say you just lack a little discipline, or you hesitate, or you get out too early, or in too late. Perhaps you just don't seem to be able to move as quickly as he does. Is there still hope? Absolutely!

Why don't we envision a world where you're only half as good. No matter how hard you try, the best you ever do is 1 point a day. Well, let me say this, if you attain the ability to consistently net even 1 point per day in the market, this can become the basis and foundation of an excellent Emini trading business. 1 Point Net = $50 per contract traded. For this to become an income, you will need to work your way into multiple contracts. Our recommendation for those who make 2 points a day is that you only increase to 2 contracts after you have earned $1,000 in the market. If you are only making 1 point a day net, it will simply take you twice as long to earn $1000 as it does for the person making 2 points.

Is there anything wrong with such a plan? No, none whatsoever. The single most successful Emini trader I know, considers 2 points a day to be a very good day. This is a man who trades thousands of contracts per day and has stated on live radio that "any day I take 2 points out of the market is a good day". I'm guessing that based on his statement, there are in fact days when he doesn't make 2 points. To be fair, I'm sure there are days when he makes more. My point is simply this - If you have the talent and skill set that allows you to wake up each day and extract 1 point from the market with confidence, you have solved the riddle for success as a trader. Play to your strength whatever it is.

To find out if you can master the Slingshot, come take our 1 Week Free Trial. We'll let you use our Platform and our Indicators. We'll teach you everything we can in the span of a week. You'll be able to go into the simulator and see for yourself if you can duplicate what Michael is doing in the Live Trading Room. Maybe you can, maybe you can't. Take the Free Trial and find out...

 

 

 

 Trading's not easy - but it can be Simple!


 

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References (5)

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    Emini Trading - emini news blog - Learn To Earn Daily Income Trading Emini Futures
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    Learn To Earn Daily Income Trading Emini Futures - emini news blog - Emini Trading
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    Learn To Earn Daily Income Trading Emini Futures - emini news blog - Emini Trading
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