S&P Emini Traders Cannot Succeed Without These Skills
Trading Skills For Emini Traders
Daytrading the S&P E-mini futures or micro E-minis requires a number of skills that need to be mastered in order to be successful. Without mastering these skills, a trader cannot be consistent and without consistency there can be no long-term success. Among those skills are knowing support and resistance areas on a daily chart, the trend at the time of the trade, the previous day’s close, the trading zone, and of course the ability to judge where to enter a trade. But there is one other requirement without which a trader cannot succeed. And that is timing. Along with all the other skills, perceptions, and the willingness to take risks, or I should say limited risks, this is the most often overlooked requirement.
Anyone who wants to learn how to day trade S&P emini futures needs to have as much information as possible in order to help determine where to place a trade. Trading is not easy to do because it is impossible to know the future with any degree of certainty. But the market does give off signals and a wise trader needs to know how to interpret the signals. Market prices seem to move erratically, but with enough information, trading S&P emini futures can be done with a greater assurance of success. An S&P emini futures trader who has Information about market signals and knows how to use them makes knowledgeable traders much more successful than others who use “seat of the pants” method.
Some of the information that S&P emini futures traders should have are:
- The Trend
- The Intraday and / or Low
- The Calculated Trading Zone via Taylor’s Book Method
- The daily calculated range
- Support and resistance levels
- Stochastics
- Candlestick patterns
These are some of the bits and pieces of information every trader needs to have in order to assess a trade. Of course, that is not to say that even with all this information a trade will work out, but having this knowledge puts the odds of success more on the trader’s side.
Having as much information as possible gives S&P emini day traders a big advantage over “seat of the pants” traders. It cannot be stressed enough that without learning as much as possible about the market, it is highly unlikely that a trader will succeed at making money by day trading S&P emini futures, much less in a trading career.
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