E-mini Trading: So You Think You Want to Trade E-mini Contracts For a Living?

I think that it is also important for you to realize that with the proper effort, study, and experience you can make a great living trading; but only if you, as a trader, are willing to put forth a level of effort and diligence that the e-mini business requires of a successful trader.

Do you have what it takes to succeed in the e-mini business?

Consider these facts, symptoms, and solutions related to failure and success in the e-mini trading business. For example:

• New traders who enter the e-mini trading business without comprehensive trading education and mentoring fail at a rate exceeding 90%. • New traders who enter the e-mini trading business with comprehensive trading education and mentoring fail at a rate of approximately 50%. • To succeed, a maximum effort is required in acquiring trading related knowledge and experience. Furthermore, there is no substitute for acquiring specialized knowledge via a qualified mentor to guide a new trader’s training in a direction that accentuates the positive skills of the trader and remedies the deficiencies in the new trader’s education. • Even with a sound training program and the guidance of a qualified mentor, a new trader faces the difficult task of assimilating a wide variety of trading related information that is essential for e-mini trading profitability. • To complicate matters, the market often goes through periods of time when it is difficult to extract profits in a consistent manner. These periods can occur during a trader’s initial foray into the market and become quite discouraging. The market is always in a state of flux and highly random price action can be the norm for extended periods of time. This can be daunting for a new trader if these unfavorable conditions are present during his or her initial entry into the e-mini market. In the trader must be resilient and persistent through a variety of ever changing market conditions. • To become truly proficient in e-mini trading, a new trader must go beyond the minimum requirements for success. It's important that a new trader continually update and expand his or her knowledge base. Learning to trade the e-mini contracts is a lifelong and ongoing process and every trader must maintain a “student” mentality to ensure success. When a trader decides he or she has learned all there is to know to be successful, a process of intellectual regression begins and most traders begin the process of slow failure.

The point of this short article is not in a complicated one; the odds of succeeding in the e-mini trading business favor a well-prepared, motivated, and intellectually curious individual. A trader who thinks that participating only in a trading course will assure success will be sorely disappointed. In short, the trading business is an all-encompassing career choice, not an odd job to assess once trading competence. Great traders consume knowledge through trading journals, trading periodicals, and furthering their education by reading many of the fine books that have been written about trading. The most successful students I have trained are highly motivated and willing to expend maximum effort in their quest for success. On the other hand, students most likely to fail try to skate by with a weak and minimal effort.

Do you want to succeed in the e-mini trading business? If you do, pour your heart and soul and into achieving the success you desire. Half measures and shortcuts in training will result in unsatisfactory results, and ultimately failure. Your success in this business is your direct responsibility.

In summary, I have tried to present a realistic picture of what it takes to succeed in the trading business. I had discouraged individuals from expending anything less than maximum effort in their quest for success. Finally, I have pointed out that a new traders success ultimately is his or her responsibility in conjunction with a qualified instructor or mentor. Give it all you have and reap the benefits of your efforts.

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