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Trap #1:  Underestimating the emotional impact of losing.
Trap #2:  Not understanding the true power of consistent profits.
Trap #3:  Not using tight stops. 
Trap #4:  Not adjusting to the market. 
Trap #5:  Depending solely on yourself.
Trap #6:  Straying from the path.
Trap #7:  Not having a proven plan.

Trap # 1:  Underestimating the emotional impact of losing.
It's possible to make money in trading with a low winning percentage.  Your winning trades simply have to be large enough to offset your many losers. 

Based on personal experience and the experience of numerous traders we've worked with, that trading style isn't very realistic.  In fact,  any trading system that produces less than 75% winning trades can be very difficult to trade.

Several losing trades in a row can be very damaging to a trader's psyche and can allow some bad habits to creep in.  Losing leads to stress.  Stress leads to emotional trading and bad decision making like skipping good trades or over-trading.  These mistakes lead to more losing and the downward spiral continues.  Before you know it you're so far in the hole that you lose confidence...along with the rest of the money in your account. 

	How eMiniDayTrader.com can help:  We teach you to read the market in a simple, step-by-step manner, so that you can identify extremely high probability trade setups.  This leads to a winning percentage above 80% for most of our traders.  A high winning percentage leads to confident, stress-free trading, which then leads to more winning. Most importantly, you learn to become a consistently profitable trader.  Read Trap #2 to see just how powerful that can be.

Trap # 2:  Not understanding the true power of consistent profits.
Being a high percentage trader has huge emotional advantages when it comes to confident, stress-free trading.  It also leads to many winning days in a row and a steadily rising equity curve with minimal drawdowns.

What's truly amazing is how effective consistent, daily profits can be at multiplying your money.  The beauty of this business is that it's scalable.  As you become a better and better trader you can trade size and grow your profits exponentially. 

One big misperception is that you need to hit home runs or wait for the 'big trade' to make money.  That's not true.  To illustrate, take this example:

Let's look at how quickly you can build an account making just $50 per contract per day.  That's just 1 eMini S&P point  per contract per day.  Or 10 mini-dow points per day...or 5 ticks in crude oil per day. 

Remember, the eMini S&P has an average range of 15 points or more per day so grabbing just 1 point per day is quite conservative and realistic.  

For this illustration we'll also assume a very conservative money management strategy of 1 contract traded per $5000 in the account.  We'll also assume we double the number of contracts trader only when the account doubles.

As you can see, it's possible to double your account every five months making just 1 point per day.  Imagine making 2 points per day...or 5.  ***Click here to check out our recent results.

	How eMiniDayTrader.com can help:  The point of this illustration is not to make claims of easy riches.  The point is to show you that you don't have to hit home runs every day to make a good living in trading.  Becoming a trader takes work and dedication.  The good news is that we can help shorten your learning curve.  We can help you make consistent profits, day after day.

Trap # 3:  Not using tight stops.
There are 5, and only 5, outcomes that can occur when taking a trade:

Eliminate 'big loss' from the realm of possibility and you're well on your way to being a profitable trader. 

We accomplish this goal by using a very tight stop loss on each trade.  The challenge when using a tight stop, of course, is not getting stopped out every time the market has a little hiccup.  This can only be accomplished by having excellent trade location, which is a function of excellent market awareness, knowledge, and discipline.

	How eMiniDayTrader.com can help:  We trade with a maximum 1.5 point risk on each trade.  A 1.5 point stop loss is only possible with a thorough understanding of how the market really works.  You must know where key support and resistance levels are.  You must know where the big money is positioned on a given day.  You must know which way the market is most likely headed.  You must know when and where key rejections occur.  Using a tight stop eliminates the possibility of a big losing trade.  And with a solid understanding of market logic you'll be able to place trades at great locations, allowing you to risk a minimum amount of capital on any given trade.  Additionally, because you'll have an understanding of market logic and market sentiment, you'll be positioned to profit from many of the big moves that occur in the markets.  In other words, eliminate the big losing trade, take your share of small loss and break even trades, and make the majority of your trades small and big winners.

Trap # 4:  Not adjusting to the market.
The market is dynamic.  It is ever changing.  No two days are exactly the same.  That's why indicator-based, color-by-numbers trading doesn't work.  What does work, however, is an understanding of how the market really works. 

All successful traders possess the same basic traits.  

You need market knowledge.  You need to understand what is really going on in the markets and you need to be able to determine it instantly, in real time.  You need be on board with the smart money day after day.  You need to learn to trade with the pros - to become a pro - rather than have your money taken by the pros.

You need a proven system for entering and exiting trades.  You need specific, consistently profitable, proven trade setups.  You need a sound exit strategy to minimize losses on losing trades and maximize profits on winning trades.  And you need specific, optimized money management techniques.

Finally, you need an understanding of yourself.  You need the ability to control your emotions and the self-discipline to treat trading like a business.

	How eMiniDayTrader.com can help: Our method helps you become crystal clear on these factors. What is the current condition of the market? Is the market is in or out of balance?  In other words, is the market rangebound and horizontal or is it breaking out vertically? Why is this important?  Because you can know whether to be a trend trader and go with a move or whether to be a counter-trend trader ready to anticipate a turning point.  You can also know whether to hold on for a potentially large profit or if the higher percentage play is to take a quick scalp.   Which direction is the market likely headed?  Who is in control at this moment in time?  Are buyers in control?  Sellers?  Is there conflict?  Why is this important?  If you know which way the market is likely headed, you know the path of least resistance.  You no longer have to swim against the current.  This not only gets you into good trades, it helps you eliminate bad trades.  Imagine what that could do to your profit & loss statement.   Where is a GREAT place to get into the market?  The saying "location, location, location" applies just as much to trading as it does to real estate.  Having great trade LOCATION is the key to consistent, profitable trading. If you can buy at known support or sell at known resistance, you're stacking the odds in your favor. Note:  What's more, we don't just teach you to "buy in this area" or "sell in that area."  Yes, we clearly define favorable areas (trade location), but what makes us different from many other education services is that we provide extremely clear and reliable trade triggers for entry.  There is no guesswork. Why is this important?  Great trade location allows for very small risk per trade and a very favorable risk/reward ratio.   If you know where the "big money" is coming into the market you can join them.  You don't need to take much "heat" on trades.  In fact, the best trades are those that move in your favor right away, which is what the majority of our setups do.  Great trade location also helps you stay disciplined and keeps you from the sin of overtrading.  We average between 3 and 8 trades per day.  We're not here to make our brokers rich...we're here to make ourselves rich.   Where is the optimal place to get out of the market?  Getting out of a trade is just as important is getting into a trade.  Most people don't realize this, but it's the key.  Job number one is protecting your capital.  Job number two is maximizing your profits. Why is this important?  The key is to extreme profitability is to minimize losses on losing trades and maximize profits on winning trades.

Trap # 5:  Depending solely on yourself.
You are likely familiar with the numerous studies that show 90% or more of traders lose and are typically either out of money or give up within one year.

At the same time, there are hundreds of trading books on the market.  You could go to a trading seminar every week.  You could buy any number of systems and software programs.  Many actually work.  Plus, technology has vastly improved in just the last decade.

Yet the 90% failure statistic still holds true.

What is the problem?  What are most people missing?

The answer is a coach or mentor.

What many don't realize is that trading is a performance endeavor similar to athletics or the performing arts. 

An average golfer wouldn't expect to become a professional just by purchasing new clubs the same way you cannot expect to become a professional trader just by purchasing a new trading course or a new indicator.  Yes, new clubs or a new trading strategy will help, but it's not enough. 

Like success in golf, success in trading requires experience and expertise.  Few golfers make it to the tour without a coach.  Coaching dramatically shortens the learning curve. 

If you have enough patience, enough capital, and the willingness to learn from your mistakes, you can eventually get enough experience to become a profitable trader.  Traders who chose to invest in coaching, however, stand a much better chance of success, in a much shorter period of time, with much less loss of money.

Read about or speak to a successful trader.  Nearly all of them credit a coach or mentor in getting them over the hump.  It's no coincidence.

	How eMiniDayTrader.com can help:  Allow us to be your coach or mentor.  Put our years of experience to work for you so you don't have to make all the mistakes yourself.   First, you will receive in-depth education into how the markets work.  You will learn step by step.  When you're ready you can begin trading.  However, you're not on your own.  You will have real time support to keep you aware of what's going on in the market so you stay out of trouble and only get into high probability trades.  Additionally you receive daily reviews, lessons, and outlooks.  Plus, ask any questions and get feedback. This step by step, back and forth, day after day process is the essence of coaching.  It accelerates the learning process, allowing you to become profitable much sooner than you would otherwise. This keeps you from going 'back to the drawing board' every time you have a bad day.  You also get to see, day after day, that profitable trading is achievable.  Your confidence level will rise. Just as you wouldn't go into the wood without a compass (or gps these days), don't venture into the markets alone. In the next trap, we'll compare our program to the typical trading education that is available.

Trap # 6:  Straying from the path.
Let's analyze the typical trading educational product.  Most traders either buy a book, a course, a software program, or attend a seminar.  These are all valid approaches. 

But let's take a closer look.  Let's say you spend thousands of dollars on a seminar.  You attend, learn quite a bit, gain confidence, and can't wait to start trading.  You probably even make money for a while. 

But what happens when you have a bad day or a bad week?  Do you question yourself?  Do you question the method?  Do you start looking for another seminar or another indicator?

The problem is that you're left to fend for yourself.  Wouldn't it be nice to find out if you just made a mistake that is correctable so you avoid it the next time it arises?  Wouldn't it be nice to know if you actually did everything right and the markets just didn't happen to cooperate? 

Going back to the golf analogy used above, if Tiger Woods hits everything to the left one day he doesn't panic.  He knows he's on the right track.  He'll simply work with his coach to improve.  Even when things are going great he's constantly reviewing and working to improve. 

You would find it crazy to assume a golfer could take one lesson and be set for life.  You  need to always keep improving.  Why would trading be any different?  Why would you expect to become a profitable trader after taking a seminar or reviewing a course?

You need daily guidance and review. 

The fact is that the learning process in trading is not one of a distinct beginning and end.  It is never ending.  Your trading education should be building upon itself day after day.

	How eMiniDayTrader.com can help:  Becoming a great trader is an ongoing process that requires ongoing support.  We don't teach you a method and get you excited, only to leave you to twist in the wind.  We're with you every day to make your path to trading success simple and quick.  Becoming a successful trader is similar to becoming a surgeon.  You wouldn't just buy a course or watch a video and think you could do a heart transplant on your own.  You would build expertise and confidence over time by learning along side a qualified, experienced surgeon. Don't make the mistake of thinking trading is any different.  Let us help you learn, day after day.   That is the quickest path to success.

Trap # 7:  Not having a proven plan.
90% of new traders lose.  The main reason for this statistic is that most traders lose all of their money before they have time to really learn what they're doing.  There is good news, however.  The fact that 10% succeed means that it's possible.  It's not random or dumb luck.   And face it, if it was easy, everybody could do it and there would no longer be any opportunity. 

All successful traders possess the same basic traits.   They have market knowledge and they are able to adjust to any possible market situation.  They also have a proven system for entering and exiting trades.  They have specific, consistently profitable, proven trade setups.  They have a sound exit strategy to minimize losses on losing trades and maximize profits on winning trades.  And they have specific, optimized money management techniques.  Finally, they have an understanding of themselves.  They have the ability to control their emotions and the self-discipline to treat trading like a business.

	How eMiniDayTrader.com can help:  We provide you with a proven roadmap for success that is complete in scope.  Here is a brief overview: -education and theory regarding how the markets work to build a base of understanding -precise rules for entering trades -precise stop loss rules -precise profit taking rules -precise money management techniques -guidance on daily trade preparation -real time market guidance -nightly trade review and outlook -continuing education for constant improvement. -guidance on emotional control and understanding yourself. As you can see, our program doesn't just show you how to get into the market.  As you have likely learned, that is not enough to be consistently profitable.  You need a complete trading plan with a proven track record.

Finally:  Great Traders Are Decisive
The roadmap to trading success has been laid out.  Are you ready to take the first step?  If our concepts and ideas resonate with you, take that as a signal.  Don't hesitate.  Great traders are decisive.  Click here to get started now.