Not understanding how the auction process works is one of the main reasons traders and trading systems tend to fail.
In this brief video we discuss:
– What is the auction process?
– How is a failure to understand this process is one of the main reasons trading systems fail
– How eMiniDayTrader uses the day trading auction process as the basis for a robust day trading system
A major focus of the eMiniDayTrader method is combining systematic
trade setups with discretionary market understanding and decision
making.
This leads to a few logical questions:
- How does this process work?
- Does it actually improve your profitability?
In this article we will:
- Explain how this process works
- Show you the numbers to prove that it works
There is one school of thought that says
if you develop a good system and follow it religiously, you’ll find day
trading success.
Another school of thought believes the only way to make money in the
markets is by developing trading understanding and feel.
So which idea is correct?
It’s our belief that the answer is BOTH.
Huh??
Why Do Most Day Trading Systems Fail?
As you’ve probably seen before, most traders, and most trading systems
ultimately fail.
Obviously the mental side of trading and the ability to control one’s emotions
is a critical factor.
But beyond the mental side, why do most trading systems fail?
A New Way Of Looking At Trading Discipline
As traders we all know that discipline is important. But what exactly is
trading discipline?
You’ve probably had it drilled into your head that to be a disciplined trader
you must follow your ‘system’ at all costs.
Is it any wonder that most traders spend the majority of their time trying to
find the one best entry and exit system? Of course not. It actually makes
perfect sense.
Then again, is it any wonder that most traders lose money?
What if it was possible to look at trading discipline in an entirely new and
more empowering way?
(more...)