Emini Free Trades
Austin Passamonte has written a great article, and I pass it on to you.
Continue to study the “experts”, realizing that there is always room for us to grow in our understanding of trading the Emini s and p successfully.
A site we referenced the other day, emini addict, has drawn some attention from the “newbies”. At $29.99 monthly, its a bargain for anyone, especially those new to the game of trading. There seem to be many learning the game, judging by their comments, but there are a number of sophisticated traders there as well. Seems like just yesterday I was asking the same questions.
“Free trades” are set up by that chat room leader, and that certainly reduces one type of risk, and it is a big one. The risk of loss of your capital is what I am referring to.
Another type of loss, however, is equally important: opportunity cost. While there are many “trades” that you can initiate during a day, there are usually only a few that can be put on with relative “safety”, risking only a point or two.
Knowing where to put these types of trades on is why you pay the big bucks to learn systems, or sit there and learn as you go by trial and error.
If your child or any other significant person in your life needed heart surgery, would you elect for the discounted intern or would you prefer the skill and expertise of a seasoned Doctor? You get what you pay for, at least that has been my experience.
That is not to take a cheap shot at room leader David Halsey; in fact quite the contrary as I respect his passion and expertise, as well as his contribution to teach the basics. There are many outstanding traders out there offering a variety of approaches. Find one that works for you and stick with it.
Those who understand the difference between “too much information” and “not enough information” will have better odds of staying in the game long enough to see if they have what it takes to make it in this business.
You do remember this guy, don’t you?
Reacting under pressure is another variable we need to throw into the mix.
As this site is being developed, I am happy to provide traders with general information to get them started.
The specific information I have learned in 15+ years of study and put together into the Emini wizard system, however, I am unwilling to give away, but it is bargain priced and a shortcut for anyone who lacks experience in the markets.
Today’s key trade dynamics were the 08 morning target we called after 32 was busted overnight, and the lunch bounce with gap fill called after 22 broke, then the kaiser soze trade with yesterday’s high 39 stop for the middle test, max at 16 support.
The market loves to trap traders both sides, and the conservative entries are my favorites.
In my humble opinion, trading is all about risk and reward.