Next Project: Emini Specific Trading Tips and Tricks
By LawrenceI have a long list of questions and requests that are specifically about Emini day trading. Many of them are very much recurring questions like “I am interested in day trading. What is this Emini you are talking about? Please tell me more about it.” It is quite difficult to keep up with all the questions so I promised to write about them.
So far I have written a few articles on the subject covering the general questions people have in mind:
Is day trading Emini better than day trading stocks?
How much money is needed to day trading Emini?
Is day trading income sufficient for someone with not much capital?
How do I get started day trading Emini?
All these questions have answers on the net already. I guess my readers just like to get the answers from me to reassure them that what they have gathered elsewhere is true. I am very flattered that my readers have put so much trust in my opinions. It feels heavy too because putting out the answers to these questions means they will be depended upon for the beginners in making their decisions in giving day trading a try.
I did my best to provide the most thorough answers I can come up with. It is definitely better than answering these questions individually which often ended without the more in-depth discussion of these subjects.
Since I have now answered the general questions about Emini trading, it is time to deal with the specific technical questions raised all the time. These articles are actually easier to write because I have answered many of them in real-time commentaries. All I have to do is gather the information and expand the answers.
I am sure these tips and tricks on emini trading will be very useful for many traders.
If you want to remind me to write about certain things on Emini, comment here or email me.
How do I make money trading the emini without dip pockets?
Having a reasonable amount of money behind each contract you trade is not deep pocket at all. If you read the articles in the list above you have an idea what to aim for.
Using poker as an example, Emini is like the major event with big buy-in. You know what it takes to join so pushing it beyond what you can afford can be disastrous.
On the other hand, you can choose to play similar game with lower buy-in threshold. That is like playing the 5 cent tables to train yourself in becoming better poker player.
This is what S&P CFD can do for traders with no capital to start with but aiming for the big game one day. With S&P CFDs, one can trade as small as 1 unit of S&P at $1 per point. That is 50 times SMALLER in size comparing to Emini.
Yes, CFDs do not move exactly like the Emini itself.
Yes, the spread in CFDs pretty much cripple the player 1 point net going in and out.
But S&P CFDs give the traders the ability to participate in the game when the regulated market is too expensive to play. This is priceless.
Everyone has to start from somewhere. I started out scalping stocks at the local stock exchange on the floor. You learn your lessons and accumulate your experience and skills before moving onto something more challenging.