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Emini S&P 500 Futures - Market Recap How I Recovered From My Worst Week Ever
Learn To Trade Emini S&P 500 Futures at http://daytradervideo.com The Emini S&P 500 can be a difficult market
to conquer. Then again just about any type of day trading can be something incredibly
difficult for people to conquer. The primary reason for this is that most people don't
know when to quit. The ability to recognize when a day is not
a good trading day for your system is a valuable skill that you must learn how to build. Despite
this simple fact, most people do not ever even discuss this. So, if it's not discussed
then how can it be taught? The simple answer is it typically isn't taught.
In the next video in this series we're going over the exact steps that you need to take
in order to learn this skill. If you follow these steps and apply them to your daily trading
then you will eventually get very good at learning when the market is unfavorable for
your system. You'll also be able to easily walk away from
that day and wait until tomorrow. Remember that the market will always be there.
Let's get into the trades for the day. Today's market environment was actually really
favorable. After a quick win to the downside I was stopped out of another great looking
trade. It really ticked me off when the trade stopped me out and then immediately made it
to target. What can I say other than this is part of the game.
I rounded out the day with a few more winners and losers. My total for the day was +3 points.
That is equivalent to $750.00 without counting commissions. I was trading a total of five
contracts on the day. I am nowhere near attaining my goals on the year in terms of contract
size. This is simply because of the fact that the market has not been moving very favorably.
Again this is part of the game. It's another skill you have to build. The ability to understand
when it's a good idea to scale up your contract size. On the other hand sometimes it's best
to scale down. A great deal of people just can't do this. Their pride is at stake. This
would happen to me often at poker. And to be quite honest, that's what kept me in the
game for over 10 years. It's one of the reasons I made a ton of money.
These are some minor skills you must build when learning to trade the Emini S&P 500 Futures.