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Old 04-01-2010, 01:31 PM   #1

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Does Anyone Truly Make a Living Solely Trading the E-minis???

I would like to open this topic to offer a thread of hope to all of those that find it impossible to believe that one can actually make a living trading solely the e-minis.

If you have done it for over a year, it would be great if you could share your experience and how you got there.

I just ask that promoters refrain from trying to offer systems and methods that traders that are truly trying to make a living of trading the e-minis will have to spend more money to become successful.
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Old 04-01-2010, 03:06 PM   #2

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Re: Does Anyone Truly Make a Living Solely Trading the E-minis???

Quote:
Originally Posted by ktartarotti »
I would like to open this topic to offer a thread of hope to all of those that find it impossible to believe that one can actually make a living trading solely the e-minis.
Are you under the impression that it is more difficult to make a living trading "solely the e-minis" as opposed to trading something else? If so, what else? What makes it more difficult to make a living trading solely the e-minis?

I'm sure there are successful traders that trade solely indices, or solely currencies, or solely energies, or whatever. I'm not sure what difference it makes...?
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Old 04-01-2010, 05:06 PM   #3
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Re: Does Anyone Truly Make a Living Solely Trading the E-minis???

To become a full time traders, it will take years. Full time trader is smiliar to becoming a lawyer, Doctors, etc. The problem is many people believe day trading es is "get rich quick." If it takes 5 yrs to become a doctor, it will take 5 yrs to become a full time trader. I have no clue why people believe they can become a full time trader less than 1 yr. If that is true, why does it take a long time to become a doctor, lawyer, etc.

According to the Gov report, 97% of the people lose trading in the futures market. One of the reason they lose is, they failed to understand trading futures involves substantial risk and only risk capital should be used. All brokerages and few trading school websites have those risk disclaimer. But for some reason, most people FAILED or ignore the risk disclaimer.

For those who are a successful full time traders took them yrs to get there. Plus, they fully understood that trading es is NOT A GET RICH QUICK and trading futures involves SUBSTANTIAL RISK!!!!!!

hope this help
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Old 04-01-2010, 06:32 PM   #4

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Re: Does Anyone Truly Make a Living Solely Trading the E-minis???

In my opinion the emini spoo is the best market for day trading. Plenty of day traders in that market, and plenty of liqudity. I've actually wrote an article on my blog about this very topic that i call the dream machine that most new traders seem to be getting sucked into

Emini S&P 500 Trading: The Dream Machine

Trading is what it is, and when you take it for what it is then life becomes a lot more easier. There's always this talk amongst new traders about the smart money, the dumb money, about having the edge etc... When I first start started out as a trader, at the time I was sat on the same row of the biggest trader in the office, who at the time was trading 6000 lots in the bund, schatz etc. Anyway on my first day he said something to me that has stuck with me thoughtout my career... he said... "don't get suckered in by all the rubbish people talk, it is what it is, and that's bullsh*t... once you realize that, you'll see the market for what it is"

Trading is a hard game, every trader knows that, but most people are making it a lot harder than what it is. This is mainly due to the ridiclous expectations they have of trading. For example, the markets have been quieter than normal recently, but there are traders out there who still trying to force the hand trying to trade opportunities that are not there because people come into this thinking they're gonna be making 10 trades every day just because they're attached to the title day trader. What people don't tell you is that 90% of this game is sitting about and waiting for the opps to come to you. When they do, they're clear a day light
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Old 04-01-2010, 06:40 PM   #5

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Re: Does Anyone Truly Make a Living Solely Trading the E-minis???

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Originally Posted by emg »
One of the reason they lose is, they failed to understand trading futures involves substantial risk and only risk capital should be used. All brokerages and few trading school websites have those risk disclaimer. But for some reason, most people FAILED or ignore the risk disclaimer.
Your logic seems flawed.
Are you saying that if one is aware of the risk associated with trading then they will not lose?
I am sure most people are aware of the risk. What kills them (their account rather) is lack of a plan, lack of training, lack of discipline and lack of capital.

Gabe
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Old 04-01-2010, 07:20 PM   #6
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Re: Does Anyone Truly Make a Living Solely Trading the E-minis???

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Originally Posted by Gabe2004 »
Your logic seems flawed.
Are you saying that if one is aware of the risk associated with trading then they will not lose?
I am sure most people are aware of the risk. What kills them (their account rather) is lack of a plan, lack of training, lack of discipline and lack of capital.

Gabe
Thank you gabe, you answer my question. Lack of plan trading in unlimited risk futures market, lack of training trading in unlimited risk futures market, lack of discipline trading in unlimited risk futures market, and lack of capital (part of the disclaimer: only risk capital should be used) trading in unlimited risk futures market. I do not see where my logic is flawed
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Old 04-01-2010, 07:34 PM   #7

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Re: Does Anyone Truly Make a Living Solely Trading the E-minis???

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Originally Posted by emg »
According to the Gov report, 97% of the people lose trading in the futures market.
I've heard 85% or 90% or even 95% of traders fail. But I was not aware of a government report saying 97%.

If you have a link to this report, please share.

~Mike
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Old 04-01-2010, 07:37 PM   #8

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Re: Does Anyone Truly Make a Living Solely Trading the E-minis???

Quote:
Originally Posted by emg »
Thank you gabe, you answer my question. Lack of plan trading in unlimited risk futures market, lack of training trading in unlimited risk futures market, lack of discipline trading in unlimited risk futures market, and lack of capital (part of the disclaimer: only risk capital should be used) trading in unlimited risk futures market. I do not see where my logic is flawed
UNLIMITED RISK ????

Why is it unlimited?

It is up to you the trader to limit your risk by using stops which - btw - should be part of your trading plan

You said that the reason people lose is because they don't understand that trading involve risk and this is where you logic seems flawed.
By what you say, if I tell you taht I understand that there is risk in trading I will be a successful trader, and I am saying that that is not the case.
Understanding the fact that there is risk involved in some endevour does not mean that people who take the risk will be immune from harm.

Think about a rock climber. I am sure he/she are aware of the risk involved yet they do it anyway. Hopefully after a lot of traing and wearing protective gear and using the proper equipmen.

If you see a person wanting to climb rocks without the above but he tells you that he understands the risk - will that recognition of risk avoid a catastrophy? I don't think so.

Same with trading if you take a person who is not prepared (mentaly, financially and otherwise0 for trading but he acknowledges that trading is risky - will that help him not to lose? I don't think so.

THe point I am trying to make is that recognition of risk is not the answer to successful trading.

Gabe
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