Why New Day Traders Don't Need To Learn Everything

Day Trading can be an exciting and potentially lucrative activity. With the rise of online trading platforms, more and more people are getting interested in learning how to trade stocks, options, futures, and currencies. However, new day traders often make the mistake of trying to learn everything there is to know about markets. This approach can be overwhelming and counterproductive, as it can lead to information overload and analysis paralysis. Instead, it is better to simply focus on one thing and learn to do that one thing very well.

Why do new day traders try to learn everything?

New day traders are often eager to learn as much as possible about markets because they believe that knowledge is power. They think that the more they know, the better they will be able to trade. They also believe that by learning about different markets and trading strategies, they will be able to diversify their trading portfolio and reduce their risk. Moreover, new day traders are often drawn to the promise of quick profits and the glamour of the trading lifestyle, which can lead them to overestimate their abilities and underestimate the complexity of the markets.

Why is it better to focus on one thing?

Focusing on one thing, such as a particular market or trading strategy, has several advantages. First, it allows the trader to develop a deep understanding of the market or strategy, which can help them make better decisions and avoid costly mistakes. Second, it allows the trader to develop a trading plan that is tailored to their strengths and weaknesses, which can increase their confidence and consistency. Third, it allows the trader to track their progress and evaluate their performance objectively, which can help them improve over time.

How to choose what to focus on?

Choosing what to focus on can be a daunting task, especially for new day traders who are not familiar with the markets. However, there are a few guidelines that can help. First, consider your interests and strengths. If you have a background in finance, for example, you may be more comfortable trading stocks than currencies. If you are good at analyzing charts, you may be more interested in technical analysis than fundamental analysis. Second, consider your resources. If you have limited time or capital, you may want to focus on a market or strategy that is less complex and requires less research. Third, consider your goals. If you are looking for quick profits, you may want to focus on short-term trading strategies. If you are looking for long-term growth, you may want to focus on value investing.

How to learn to do one thing very well?

Learning to do one thing very well requires dedication, discipline, and patience. Here are a few tips:

Start with the basics. Before you can master a particular market or strategy, you need to understand the fundamentals. Read books, watch videos, and take online courses to learn the terminology, concepts, and principles.

Practice, practice, practice. The only way to get better at something is to do it. Use a demo account or paper trade to practice your skills without risking real money.

Keep a trading journal. Write down your trades, your thought process, and your emotions. This can help you identify your strengths and weaknesses and improve your decision-making.

Get feedback. Join a trading community or find a mentor who can provide feedback on your trades and help you improve your skills.

Bottom Line

New day traders often make the mistake of trying to learn everything there is to know about markets. However, this approach can be overwhelming and counterproductive. Instead, it is better to simply focus on one thing and learn to do that one thing very well. By developing a deep understanding of a particular market or trading strategy, traders can increase their confidence, consistency, and profitability over time.

Take our 1 Week Free Trial and you'll never look at trading the same way again.

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Read the CFTC Risk Disclosures and CFRN Disclaimers before starting the trial. You can begin the trial any day of the week or weekend. You'll still get 5 consecutive Trading Days.

Questions? Call 949-42-EMINI or Email support@crn.net

Why New Day Traders Don't Need To Learn Everything

Emini Mentoring Program - 90 Days To Consistency

(QQQ)(SPY)(AAPL)(AMZN)(DIA)

by DeWayne Reeves

Consistent Results For The Emini Trader

The 90% Line is filled with "good people", full of "good intentions". The only thing standing between them and their dream of Trading for a Living, is consistency (the lack of). Roller Coaster type results will over time, make you physically ill. Not to mention the emotional turmoil, psychological baggage and ultimate financial disaster which will eventually force you out of the market for good.  Let's not forget that along with the 90% line we do have a 10% line.

The Path To Success For The Emini Trader

The path leading to consistency is littered with magical indicators, mystical oscillators, secret time frames, crystal balls gone dark and Emini Gurus who now spend their days mumbling "Welcome to Walmart". As Emini Traders jump from one solution to the next, never spending time doing the one thing that would move them to a permanent position as a 10%'er.

If a baseball player changes his swing every time he steps up to bat, he'll never hit one out of the park. If he does, by sheer luck, that's even worse. Convinced he is now a "heavy hitter" based on his one lucky swing, our Emini Trader increases his position size, slips his stop on a regular basis and swings for the fences every time he steps up to the plate. 

Proper Priorities For Emini Futures Trading

The gimmicks are so alluring. Click here, smile for the camera and watch the cash roll in. You've heard and read the ludicrous claims. Instant riches with little or no work. For a mere $99 you can download tonight the One Indicator Your Broker Hopes You'll Never Find. Really? If you make more money doesn't he earn more commissions? 

Rhetorical. There's only one answer to the Consistent Profitability Conundrum. You must learn how to trade. There is no shortcut, now way around it, you simply must do it. There are firms on late night TV that promise to teach you in 5 days for a mere $7k. That would be a splendid bargain if one could actually learn how to trade in 5 days. Unfortunately... you can't.

Finding An Emini Mentor Or Teacher 

They do exist. The good ones wil teach you exactly what you need to know to be consistently profitable. They will teach you how to read a chart like a newspaper. They will teach you risk management that puts you on payroll, not on the dole. Together you'll write a Business Plan, a Trading Plan. They will also make sure you avoid the pitfalls and potholes they fell into.

You will learn to be patient, to wait for the trade to come to you. You'll develop the discipline that allows you to not only manage the trade, but to get up and walk away once you've reached your daily goal. They will assist you in setting goals and determining just how large you plan to grow your Emini Trading Business.

From picking the proper markets to the best time of day to trade, a good Emini Mentor will be there for you on the good days, the bad and the mediocre.

No Obligation Emini Training Consultation

Spend an hour with an Emini Professional. No obligation. Share your struggles and obstacles, listen to ideas and solutions that come from years in the industry. A quality Emini Coach will never fill your head with unrealistic expectations. He will help you understand what's possible and what's not. Together you can chart a path that will take you off the roller coaster once and for all and point you in the direction of the 10% line where the knot in your stomach begins to relax, your hair grows back and your skin even clears up. 

Your Futures As a Professional Emini Trader Is An Email Away

Send your request today for one hour of Private Mentoring to support@cfrn.net. This isn't a fancy sales pitch with lipstick on it.  We'll evaluate where you are and listen to where you want to go. There is no cost and no obligation. 

There's an old saying, "You'll never get the right answer, by asking the wrong question". One thing I can assure you, after your session you'll at least know what the right questions are. Before your session be sure to read "Define a Professional Trader".

CFRN Live Emini Broadcast for Thursday June 11, 2015

Today's Live Broadcast contains a complete audio. Today was "great radio" with two very special guests, Gerry F. our economist at large and our Every Other Thursday Friend and Resident Elliotician, Ed Couri.

Never Miss Another Show - Subscribe to our Daily Broadcast on iTunes and watch every episode on your schedule, not ours!

Trading's Not Easy - But It Can Be Simple!

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CFRN- Emini Live Daily Broadcast for 06/11/15