3-8-11;     In today’s trading I would give myself a grade of (B), even though I hit a double daily goal today. I don’t grade the amount of points I make, but the execution of the trades taken. Most were very good, but the last long trade series, I came in very late and put myself at risk. I knew I was doing it and I also adjusted my stop accordingly, but I really did not need to do that. It wasn’t a big enough reason to take that amount of risk. I did think there was a chance for a bigger break up, but only saw modest gains before the market shifted to the short side. I gave it every chance.

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Below, I have a U-Tube Video of the last few days, or for those who want to only see a screen shot of today’s trades that is below it.———————————————————————————————————————–

So, for that, I had to ding myself a full grade. All the other trades were acceptable, even the two small losses were fine and were within the trading method. Trading losses are apart of the game, but if the price does not perform as it should, exiting the trade shows no shame.

I started late today which was to bad, because there was some really cool trades early on. I am sure I would have had my share of those earlier moves as per my trading method. That is the price I had to pay for staying up late.

I traded during the slow period on Wall Street which wasn’t really to bad for me today. Most days I just don’t have the patients to wait for the trades to move and or set up, but I did pretty good in that department today. It is so much nicer to see price movement with trade volume behind it. I would prefer to stay in the market for as little as possible most days, but that is me. Its all about limiting trade risk.

Limiting trade risk can come in many forms. Below, I talk a little about timing and limited your risk by narrowing down your entries to little small windows. In fact in the U-Tube video I did here today, I mark up a few days of these low risk trading windows. Those area’s represent the lowest risk spots on the chart for capturing at least one ES point or more.

These area’s are consistent with my trading method but no means are the method itself. I could not depend on trade indicators to give me insight into the price moves alone. They can help, but are only a reflection of what the price and the building structure speaks too. There is a lot more to understand, but it can be learned. That is why today’s blog title is called “Lean to Trade Emini”.

If you go back through my blog articles, you will see day after day of wining trades, for a days total of 2-4 points per session minimum and some of them will be 4,6 or 8 points total for the day. That does not happen by accident and I show how the timing tools match up with 90% plus of these wining trades. It is the “Sniper Day Trading Method” that I am trading, not following the trade indicators, but they do match with the trade method almost to the tie. Two totally different things, but acting as one.——————————————————————–

Everyone wants to make money on Wall Street, and I can’t say I blame them. With the job market looking weak, uncertainty seems to rule the day. All one has to do is put on the news to see that things are changing.

The thought of working from home would be a dream come true for many people, but its not for everyone. Usually, trading is a very individual thing. Its between you the electronic world as seen through the eye’s of your computer screen. There are literally millions of traders world wide linked together giving everyone an even shot at this dream.

Do you have what it takes to compete?  We all like to think so, as I don’t know of anyone who moves forward thinking they will fail outright before they start, but the fact is that is what happens.

Learning to trade the emini markets is a great way to put leverage on your side of the table, but that trading leverage can work for you and or against you. The key is to narrow your entries down to where the trade does not come back against you, but do that consistently. This is one of the keys to scalp trading successfully. If you put on a trade and risk three points to make one point, you will go broke eventually. It should be the other way around and at the very least a 1 to 1 trade ratio, (profit to loss).

A scalp trader can make money with a 1 to 1 trade ratio, if he hits better than 50% of his trades. When you get a 2 to 1 ratio working for you at times, that can make up for earlier losses. Another key is book your gains before the move comes back against you when scalping. If you stay to long and become greedy, you give it all back and then some. Playing a trending market is a bit different, but booking some gains early on is good idea and can help you stay longer for the full trending move when they occur.

How does one do that on a regular basis?  You need to learn, just like anything else. There is a right way and wrong way, but there are is more than one right way. A trader can learn to trade the emini market with hard work and dedication. It rarely comes easy. Anything worth while always has a sacrifice attached to it, or else it would be easy and everyone would be doing it, and we all know that is not possible.

Putting the odds in your favor only can come by knowing when to enter and when to exit. Trading tools can help, but their is no substitute for the human mind and its ability to identify low risk entries. It is true our minds can play tricks on us and for those who need to lean on the tools a little, while there understanding of market and price structure develops, is OK.  If you want it bad enough, and willing to work hard, it is possible. What do you think?