E-mini trading charts are a visual representation of the data created by the price action of the market. Traders have a number of choices as to how that data is represented on a trading chart. In my opinion, most traders seem to opt for time-based charting methods.
This article lists some steps that a trader can take towards becoming a disciplined trader. It also lists a few things that should be included in a trading plan.
If you start out in trading and look to fast forward your learning curve by purchasing someone else’s system, I think you’re going to be disappointed with the overall results you get, especially long term. Without the proper experience and understanding of everything’s that’s involved in trading, learning a single system is the equivalent of a young wrestler learning a fancy take-down move and expecting to compete in competition with that alone.
When you venture into the world of independently trading stocks, you’re going to have plenty of scary statistics thrown your way. 80% of day traders fail! 90%! I’ve even heard 97% of aspiring traders end up giving up and getting a real job at some point, and honestly I wouldn’t be surprised if that last one was the most accurate.
Things are rolling along just fine for you. You’ve got your trading method and have been continually testing and refining it to the point where you’re very confident in it, and in general things have started coming together for you and your trading. Then all of a sudden you take a loss, that’s followed by another one, then another. pretty soon you’re starting to really feel the heat and now your mind is a mess. How can we plan for and prevent mental meltdowns when it comes to trading?
