Emini Day Trading

marketheist.com – We will be covering how to qualify for trader tax status & mark to market accounting (quick reviews of both of those topics) Choosing the right entity for your trading business The pros and cons of sole proprietors, LLCs, Partnerships, S corps, and C corps Home office deductions & accountable plans Self employment taxes Why you should incorporate your trading business We’d like to give a big thanks to Hamzei Analytics for providing the hosting platform for this event! Steve is an active member of HamzeiAnalytics’ High Frequency Trading Chatroom. Hamzei Analytics is in its twelfth year of operations and serves both the professional and institutional traders, while providing custom proprietary analytics to a select group of hedge fund managers. Check out Steve Ribble’s “Trader Tax Status” Webcast we did in December as part of our Trader and Investor Public Service. **Hosted by Hamzei Analytics and MarketHEIST Media as a free public service for the individual investor community.
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Coach TJ recaps a great trading day for crude oil trading. This specific plan is unique due to its timing with the crude oil report. Check out this picture-perfect trading day. Learn more about NetPicks at :www.NetPicks.com

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Step 1

 Make sure you have at least ,000 in order to become a pattern day trader (4x buying power). Stock market is risky. Please do only trade what you afford to lose.

If you make four or more day tradee in a rolling five-trading-day period, you will be considered a pattern day trader no matter you have ,000 or not. If your account equity falls below ,000, a day trading minimum equity call will be issued on your account requiring you to deposit additional funds or securities.

Step 2

Open a stock brokerage margin account:
TradeKing
Etrade
TD Ameritrade

Step 3

Learn how to read candlestick chart and its pattern.
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis

Technical analysis is the soul of day trading. Please take time to get familiar with all the tools you can use. Basically, you will just need to know simple average lines: 20 day and 50 day moving average line, MACD, RSI, and Volume.

Step 4

Rules to follow:
1)Everyone makes mistakes, cut loss early if you make a mistake.

2)After enter into a trade, do not buy more, just watch it rise and sell if you are happy with profit or hold it for 5 to 25 min. If you add more positon, bad thing would happen. Day trading is just like a thief stealing money from the stock market quick and once at a time, if you go back to steal more, they will catch you.

3)Day trading means quick profit, do not hold stock for more than 25 min. You can always sell with profit if it starts to fall from top, and then buy it back later if it turn out going upward again.

Step 5

You should develop your own system of day trading. Because each of us has different personality and a particular trading strategy might not fit for everyone. Happy trading and never stop learning!

Sure-win Stock Trading

Step 1
Ask yourself: Are you currently an experienced day trader that can make profit consistently or a beginner but eager to learn how to day trade?

For experienced day trader, initial capital contribution is required but you can trade remotely or in their office.

The ratio for a beginner to survive is very low (I think only 1 out of 30 people can succeed at the end).

Moreover, almost all proprietary trading firms don’t pay you salary. You only get paid if you make profit in your trading account and share the payout ratio with them. Most of them require initial capital contribution but they do provide training.

Please keep in mind that most beginner will fail and never see their initial capital contribution again (I think minimum is 00).

This business is hard and is not for everybody.

Step 2
There are a whole bunch of proprietary trading firms on East Coast New York and Chicago area that you can choose from.

Proprietary Trading Firms Directory:
http://www.traderslog.com/proprietarytradingfirms.htm

The one I recommend is
•World Trade Securities – WTS Proprietary Trading Group LLC, is a privately owned proprietary trading firm based in NYC, New York and a member of the CBSX and is SEC registered.
http://wtsprop.com/index.html

They have three structures in place for traders and keep it very simple and clean no matter if your experienced or new you get to pick what structure you want.

-Structure 1: 90% payout / .0005 (.50 cents per 1000 shares) – capital contribution
-Structure 2: 99% payout/ .001 (1.00 per 1000 shares) – capital contribution
-Structure 3: 50% in-house training program, no capital required. Must pay ,500 for training course. When you build your account to ,000 your payout goes to 75-90%

Step 3
Key things to find out for a good proprietary trading firms:

- Leverage: 6:1 or 10:1 or 60:1
- Sponsorship: Series 7
- Mentoring: What the level
- Community: Are top traders gathered at this firm
- Pricing: .01/share or .007/share or .005/share, also other fees
- Tech: Execution Speed, Routing, Charting Tools and etc
- Payout: 90% or 95% or 99%; Weekly, Monthly; Direct Deposit or Check
- Selectivity: How difficult is it to get in
- Financials: Does the trading firm have plenty of capital or is it on shaky ground?
- Reputation: How well known is it

Step 4
Out of all these prop firms, some people say that the top 3 that offer a salary and provide good training are (but they are harder to get in):

1) Jane street Capital: http://www.janestreet.com/
2) SIG: http://www.sig.com/index.html
3) DRW Trading Group: http://www.drwtradinggroup.com/

Step 5
The only thing that works in this businss is these 3 little thing. And these 3 little things are the traders secret and what many do not understands.

1. Support and Resistance.
2. Cut your loss early.
3. Discipline

These are the only thing that works in this business. It’s what helps you stay alive in this business, and it’s what helps you make money in this business.

Sure-win Stock Trading

With day trading you can make money in a single day buying and selling stocks, without any long term investments. This leads to huge opportunities for profit, but there is also a great deal of risk involved. It is a well-known fact that most traders end up losing money instead of making a profit. To avoid becoming one of them, there are some traits that need to be ingrained.

Here are 7 powerful tips to become a successful day trader:

Find a system and stick to it: it’s very important to discover a set of profitable techniques and master them. Trading without a plan is not different than gambling and will certainly get you burned eventually.
Keep in mind that day trading is a JOB : earning tons of money is not a given, because this is not a passive source of income. You should get proper training and keep improving your performance, if you are really determined to make a profit.
Try to keep a diary of your trades: this way you will identify your mistakes and avoid repeating them over and over again.
Control your emotions: emotions like greed, fear and disappointment can heavily impact your trades. Emotional people tend to break under pressure. Try to stay calm, don’t take your defeats too seriously and simply follow the plan.
Only use money you can afford to lose: you should never invest money that is set aside for paying you utility bills or your mortgage.
Do not overtrade: overtrading is a sign of an amateur trader. Many people commit this mistake as an effort to cover their losses, but it can be a recipe for disaster.
Get a good trading education: getting a solid education is an absolute necessity. A great mentor can teach you how to manage risk and analyze market trends.

Although some losses are inevitable, there is incredible profit potential in day trading.

Do you want to find out how to take advantage of this potential?

There are many of us who would like to know exactly how to gain financial freedom through day trading.

The first thing you need to do is to make sure you have the basics: a high speed internet connection, a charting service, real-time quotes and a broker service. However, keep in mind that if you truly want to become a day trader you need to possess a number of skills that are essential for your trading success.

Here are 7 useful tips to become a successful day trader:

Don’t use borrowed money: Stocks are unpredictable and can fall at any time, so only trade with money you can afford to lose.
Start small: don’t invest too much money on your first try. Wait until you have gained enough experience and then gradually increase you investments.
Learn from you mistakes: every time you fail you should carefully examine what where the factors that led you to failure. There are many people who keep repeating the same mistakes without ever questioning their techniques.
Don’t give up too early: as soon as they lose some money many traders quit, believing that this is just a waste of time. You need to stay strong and focus on the target.
Always record your trades: keeping a record of every action that worked or failed will help you develop your own profitable strategy.
Establish a stop loss policy: money management is a very important skill. Don’t risk wiping out your whole account.
Learn from the best: finding a great mentor and getting a good trading education is critical for your success. You need to learn how to analyze market trends and develop the correct money management strategy.

How would you like to day trade the S&P500 futures, Euro, British Pound and the Aussi with an over 5-1 reward to risk ratio everday? How would you like to only look for a few setups a day that some of the top hedge funds use? How would you like to know the exact bar to enter, the exact bar to scale for a free trade and the exact bar to trail until you hit our ultimate target? Welcome to www.daytradingthefutures.com and www.symmetryindicators.com. We take the quess work out of day trading. After 20 years of day trading we have now put together the ultimate day trading plan with a great risk to reward. Our average S&P500 trade is 4-6 points with a hard 1.5 stop. Our currency trades average between 40-60 ticks/pips depending if you trade the CME futures or Forex with a hard stop of less that 10 ticks per trade. We have only a few setups that we look for everyday and you will know exactly when to excute and how to manage your risk to reward.You do not need to pay for trading software. You will log in to our two daily screens and trade our setups as they come up. We have members with over 30 years in the markets with us in our live day trading room as well as beginners. I have taught beginning traders that are now trading like pros. We welcome all. We are so convinced that we will change the way that you trade the markets that we are discounting the first month’s membership 50% for a limited time only. It will only take you a month to see that our risk to reward gives our …
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At a recent conference, I had the chance sit down with a few traders to discuss our daily trading habits.  One of these traders happened to be John Paul from Day Trade to Win.  Although I had never met these traders before this particular tradeshow, it was surprising that we followed similar routines before, during and after market.  Even more surprising, not one of us could point to a source that provided us with the “three things every trader should know.”   We seemed to have simply developed these habits by figuring out what was successful in our daily routines.

This list consists of three things we wish we would have been taught at the start of our day trading careers instead of learning them much later.  Feel free to put the following tips into practice every day, in all markets you trade.

(http://www.bloomberg.com/markets/economic-calendar/) for news events that will affect the markets you trade.  Bloomberg has done an excellent job in neatly summarizing each economic report that is expected to cause waves in the financial world.  For example, today’s listings include Consumer Price Index, Jobless Claims, Industrial Production, 3-Month Bill Announcement and much more.  It’s worth pointing out that Bloomberg lists both public and private sector events.  Expect to see public / government events listed far into the future whereas private announcements crop up with no more than a week’s notice on occasion.  The events you need to watch out for are indicated with a red star as “Market Moving.”  Why is it important to pay attention to news events?  Headlines can cause major, unexpected moves that will leave you wondering what happened on the losing end of a trade.  These periods of high volatility only last a few bars (a half-hour usually at most).  Before entering a trade again, it is best to wait until volatility returns to a normal level.  Trading should be both safe and consistent.

While this example mainly applies to CME traders (E-Mini S&P and related markets), other currencies commodities and even stocks adhere to some type of annual calendar.  An early roll over ensures that you’re not left behind trading a market that is barely moving (low volatility).  For the CME’s financials, currencies and indices, contracts are rolled over on the second Thursday of the following months: March, June, September and December.  Most day trading software such as NinjaTrader, TradeStation and eSignal will automatically warn you of impending rollovers (or on the day of contract expiration).  If you are suspicious that a market is performing under par, you can check its volume using a plain old volume indicator.  If you compare the volume between two contracts, you can easily see what everyone is trading.  Why is it important to roll over your contracts?  Traders should trade the contract with the highest volume and liquidity.  An excellent video on this subject is available at the Day Trade to Win blog: http://daytradetowin.com/blog/2011/03/10/how-to-roll-over-futures-contract-today-is-the-day/

Referring back to the first tip in this article, it’s easy to see how planned news events can adversely affect a market’s price action.  Traders must also take into account unexpected news, both national and international.  So far, 2011 has been an extremely turbulent year, with the recent earthquake / tsunami in Japan and uprisings / political reform in the Middle East.  It comes to no surprise that during news reports related to major events, listeners / viewers are also told about each event’s economic impacts.  News agencies are keenly aware that audiences want to know how economies are influencing one another during turbulent times.  Some traders take this information and apply it directly to how they are trading.  If the news is bad; some traders will foolishly go short in the market.  Likewise, good news will prompt some traders to go long, despite what is indicated by prior price action.  This direct-effect news trading style is worsened by many of today’s news organizations tarnishing the facts with opinion, thereby misshaping information to benefit a specific agenda.  Not only does a trader have to consider accuracy and the source of the information, timeliness also becomes a factor.  Because of all these variables, trading based on unpredictable news events should be largely avoided.  Stay with what works – trade based on what is seen directly in front of you; the bars, candles, the price action.  Charts with a fast data stream are your best friend.  If you want to learn more about how to use price action to trade and ignore the false signals, the best place to learn is at DayTradeToWin.com.

What makes the best traders successful? Are they “lucky”? Have they discovered some “secret” indicator? No. They’ve learned the truth about trading. Trading success is a simple as 1-2-3.

Step 1 – Understand what trading is really about;

Step 2 – Learn what a winning day trader does;

Step 3 – Then do it. Continually.

1. The Essence Of Successful Trading

Trading is all about percentages. You enter a trade because you believe that it’s more likely to succeed than fail. The job of finding favourable trades goes to your trading system. There are numerous books and courses about trading systems. The actual trading system you use is beyond the scope of this article, but please, please, understand this: If you’re searching for the perfect trading system – you know, the one that delivers profits on demand – you’ll be searching until the end of time.

Successful trading is simply a game of probabilities. Does that disappoint you? Were you hoping for something a little more intellectual? Do you know how many academics – doctors and lawyers particularly – lose fortunes in the market each year? The positive bias comes from your trading system. Our advice is keep it simple. Find a system you’re comfortable with. Know the setups. Understand why and when you enter and exit. Then stick to it.

Sure, some trading systems offer a higher profitability than others. But don’t get hung up on it. Just don’t get too caught up on it. The real determining factor is your ability to follow it.

2. What Makes A Successful Day Trader

A successful day trader is someone who follows a trading plan. Your trading plan tells you when to enter a trade, and when to exit. An entry point. An exit point – either a target or just to get stopped out. Parabolic SAR, lower bollinger, natural support and resistance, volatility stop. Whatever.

Any trader must understand the timeless law of probability. That with a positive bias and a sensible approach to money-management (cutting your losses and letting your profits run), eventually you’ll come out ahead.

What makes day trading so challenging is the speed. You simply execute trades faster, and compound your profits faster – which is why we do it.

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That’s why a day trader is NOT a stressed-out, valium-swallowing, adrenaline junkie who lives from one minute to the next.

A good (i.e. profitable) day trader knows that it’s just another trade. It’s all just statistics in action.

The important point here is consistency. Like the heads/tails example, the one time you don’t take a trade is when the market takes off and never looks back. Day trading is boring. Keep it that way.

3. How To Develop The Day Trading Mind

Every time you sit down at your trading screen, remind yourself that “trading is statistics in action”. Nobody knows what the market is going to do next. It’s a law unto itself. You follow what works “most of the time”.

When you understand that trading is about probabilities, that any trading system is designed to provide a positive bias over the long term, then all you have to do is execute the plan. So what is it that prevents you from being successful? You.

Or rather, the emotional you.

You need to work on developing the mindset of a professional trader. Try this routine for 30 days and see how you go:

BEFORE: (At the start of trading day)

Step 1 – close your eyes, and remind yourself of the truths of trading: “Trading is all about probabilities”. Write this on a yellow Post-It note and stick it to your monitor. Permanently.

Step 2 – Mentally see yourself following your trading plan. Entering a trade on signal. Exiting at the right time. Trading the right size for your account.

Step 3 – Visualize each trade as a tiny part of a big picture. You might want to visualize it as a matrix, with 100 boxes. Each trade is unimportant compared to the overall scheme. Create your own image for this. (Your own is best.) Trading is a visual process. The point is you need a visual metaphor to distance yourself from the immediacy of real-time trading. Anything.

DURING: (When in a trade)

Step 1 – Physically relax. Remember the definition of emotion? “A physical disturbance.” You need to reduce emotional power as much as possible. Prevent it from creeping up on you, and doing something silly. So you don’t feed it. Relax. Be aware of your whole body. Remember the last time you got stressed. What did it feel like? Tense shoulders? Stomach muscles tightening? Relax those areas now. Know thyself.

Note – none of this suggests that you should be slow about entering or executing trades. Quite the opposite! In real-time trading you must be fast. But you are operating from your rational, thinking mind… and not the panic-induced animal mind fighting for survival!

Step 2 – Breathe! Some traders stop breathing completely in a trade! Breathe in slowly for a count of four, hold it for four, and breathe out for four.

Step 3 – Focus on yourself. Following a trading plan is a “no brainer”. You enter. You trail a stop. You exit. Self-talk helps stay in the state. Remember that when you’re watching the price in real-time, there’s a tremendous danger of adding emotional fuel to a simple situation. Watch how you’re feeling. Observe any tension and let it go.

Step 4 – Watch your language! Words affect us profoundly. Ever had someone scream at you? Stirred up lots of emotion, didn’t it? So don’t scream at the market. Speak calmly. Commentate on what the market’s doing. Speak out loud. “The current trade began at hh:mm, the system gave a buy signal at price level, the target is with a stop at.. Stop loss was moved to break even at as per the plan… The market is currently in trading range between x and y…”

All this helps you to stay objective. Also, avoid “what if” thinking. Creativity has no place in trading! Be mechanical. Be

objective.

Step 5 – Continually remind yourself of what successful trading is. See the current trade as just another trade. on just another day. Your job is to follow the system — professionally and without emotion. With practice, you truly won’t care whether the current trade turns a profit or a loss.

AFTER:

Review. How did you do? Were you trading rationally, or emotionally? How much? This isn’t black and white. It’s about balance. Think of it as 2 bar charts. The higher the rational level, and the lower the emotional level, the more successful you’ll become. Master yourself. And the money will follow.