Improve your emini trading system
Improve your emini trading system
Improve your emini trading systemSetting yourself a daily trading goal in your emini trading system is a great way to improve your trading results.
There are several ways that you could implement such a rule into your emini trading system here is an example of way to apply this to your rules.
Number of winning trades taken in the session
When a predetermined profit target is achieved during the session
Trade a certain time in a session
A number of losing trades in a session
Now the number of winning trades I will give as an example is two, the reason for two because this is achievable for a day trader especially on the emini S&P500. Apply this to any emini trading system and your winning percentage may well increase along the way especially in sessions where your first two trades are the successful ones.
A profit target for your overall trading account for the day is also a great rule to test with your current trading system, this method is really probably the most satisfying as for a day traders it is always good to finish the day of with a nice profit. Now be mindful that you have to be realistic with your trading goals as always going for a certain dollar figure could end up creating more problems and effect your trading psychology.
Just trading a certain period per session be it the morning or afternoon actually makes the most sense. When you trade a market like the emini S&P 500 it is actually a very smart trader that chooses to trade the most volatile part of the session, this is within the first 90 minutes in the morning session and last couple of hours before market close each day. This is only a guide and you should do some testing looking solely at the times that the market trades the best.
The last is very important to a day trader as you realy need to know you limit for both your trading psychology and also your account draw down. Now as a trader you will have losses and some sessions will be negative but as a day trader these should be more consistently profitable as this is your job and consistency is important. A way to prevent this happening to you include worst case scenario and then come back for the next session with confidence in yourself and your emini trading system.
Obviously you need to test and see which strategy works for you but remember the aim of trading for any trader is to be positive and you could possibly include a strategy that gives you a chance to recover your losses for the day but this is a decision you need to accept and be mindful that your daily draw down might increase with further losses.This is just a guide but when day trading any emini trading system this approach is very successful and somewhat under estimated.
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