Please visit our E Mini Futures Trading Course at www.Easy-Emini.com
I may have touched on this topic before here on the Easy-Emini blog, but I believe it is worth repeating, but I think one of the most valuable lessons that can be learned about treading is to not only plan each trade but to keep a log or journal about your progress.
Planning – So often I see traders use the markets like it was the latest X Box game. They do tens if not hundreds of trades in a day. This is fine for a high-end algorithmic trader but for a futures trader just starting out, in my opinion it is a recipe for disaster. What did you learn from either your victories or your defeats? How can you replicate anything if you were doing too many transactions to count? If you planned out what you want to do and executed that plan, even if takes time to develop that plan, do you agree that you at least have a shot at a better result?
Journal – Planning is only half of the battle. Create a simple spread sheet with the basic components of what each trade was about. Dates, times of day, markets, results and brief notes concerning what your plan was and your thoughts about the results.
At the end of each trading day, or week depending upon your volume analyze your data. What worked and want didn’t work? Write down at least one learned thing. Over the course of time these “Learned Things” will help shape the future of your trading and hopefully success.
Please visit our E Mini Futures Trading Course at www.Easy-Emini.com
Futures trading involves substantial risk and is not suitable for all investors
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