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Trading The Emini - You Can't Win Them All Learn to Trade Absolutely Free at http://daytradervideo.com
In this video I take another shot at trading the emini. If you've seen my other videos you'll see that I have the
same routine for all of my trades. I don't know beforehand if they will be winners or
losers because I cannot control that, but what I can control is executing each trade
consistently. I have this mini routine that I run through in my mind to confirm that it
is a valid entry. Typically the first thing I check for is the market environment.
In the video above the market environment was really nothing out of the ordinary. We
had a decent run up followed by a change in the direction of momentum and a setup to the
short side. I entered the market with an OW because everything pointed to the market continuing
to the downside. A little after I entered the trade it was evident that we were in for
some consolidation.
Obviously this is not something that you like to see upon entering a trade, but again it
is one of those uncontrollable things. My number one goal is to execute this trade as
perfectly as I can according to my plan.
One of the things that I mention in this video is my focus hasn't been the best. And this
is something you really need when you are trading the emini. In hindsight I realized
that I even forgot to measure Fibonacci extensions until midway through the trade. This is typically
one of the first things that I do when I take a trade.
So, how do I go about improving my focus? The first thing is to limit all distractions
such as turning off the cell phone, turning off skype, and closing my internet browser.
It will also improve as I get back into the market after my long vacation.
In the video I try and give this trade a chance to work but once it reaches the divergence area the trade begins
to slowly lose all of the attractive qualities that it had, I decide I want out. I move in
my
stop
and minimize my risk. Just remember that you can do a couple of different things depending
on both your trading plan and your personality.
Other than that thanks and let me know if you have any questions or want
to
see any videos on any particular subject. I hope you enjoyed me trading the emini.