Is it time to learn how to trade E-Minis? Avoid These Life Situations Before You Begin
There is an old military saying that goes: “being tired, cold and hungry makes cowards of us all”. If your desire is to learn how to trade e-minis, there are certain times in your life that are conducive to the learning process. There are also times in your life when any attempt to learn how to trade e-minis can easily end in complete failure. I certainly get more than my share of people than at a time in their lives that usually sabotages a new opportunity for traders to succeed. To make it simpler; If you are at a point in your life where making money is absolutely necessary, then trading is not the game for you.
Learning to trade in a pressure-filled environment puts stress on the trader and should be avoided. This phenomenon is a matter of common sense; Entering a profession with an astronomical failure rate and expecting to excel without any prior training is asking too much. After all, the tradesman is required to perform extremely well in a trade in which he has little or no training. The result is a foregone conclusion; failure is imminent. Most of the people I talk to are often in dire straits and see trading as a “Hail Mary” that will miraculously rescue them from financial catastrophe.
As you may have guessed, catastrophe is usually a foregone conclusion.
If you are experiencing any of the following life problems, please do not operate:
You may have lost your job and see trading as a viable way to replace your income. Unless she has saved a considerable amount of cash, it is unlikely that she will see immediate success and she is likely to experience extreme disappointment and disappointment.
· You may have been reading some of the unscrupulous websites that promise untold riches, you should ignore these websites. Trading is not and never has been a “get rich quick scheme”.
· You may only be able to get $1500 as your futures trading account opening balance. While it is mathematically possible to trade this account higher, I have yet to see it done. This would require flawless trading on your part, an untrained trader, to trade smoothly for an extended period of time.
Avoid learning to trade when you’ve experienced a death in your immediate family, a traumatic car accident, or any similar traumatic event, or if you just don’t feel (or “out of it”), it’s a good time to avoid trading. Trading requires 100% of your attention and anything less will lower your performance.
Finally, any time when you absolutely must make money or fail financially is a good time to look for a 9 to 5 job and fix your financial situation before your situation becomes even more precarious.
To summarize, learn to trade from a position of strength, not a position of weakness. People who see trading as a way to right their sinking ship should find an alternative way to right the ship and learn to trade from a position of strength.
