Scalp trading emini futures is a different way of saying “day trading emini futures”. Scalp trading is moving on the high probability that you can take a piece out of the move, but do it with low risk. Then, you do it again and again, or until you either reach a daily goal you may have set for yourself or hit a time limit you allocate for trading. Scalp trading emini futures has many benefits, but it has its challenges.
Today, I carried a small position over from yesterday and that actually would not be considered “day trading”, as the word implies that you close all positions out by the end of the session. There are times it can pay to hold overnight, but you have to be selective and know that you hold the trading edge. I will be posting, “part two” of yesterdays article below this, but thought to put up the day’s trading session first, so let me post today’s “Scalp Trading”, session in the ES emini futures, which is based on the S&P 500 Index.
This below, is a continuation from yesterday’s article on “Day Trading Emini Futures” and will just pick up from where I left off in the article just below…….
Many think the market is just out to beat you, and in some ways you could say that is true, but one thing that is more true, is that most traders just beat themselves. They are the ones that are not allowing themselves to rise to the level they aspire. The harder they work at it and try, the worst off they seem to get. Working hard is not really the full answer. There are many who work so hard, that it still ends in frustration. So desire and working hard are not the full answer. Well, then what is the answer?
The answer is one that many of these traders are not willing to face the fact that they need to look within themselves, and uncover certain “mental blocks” that are holding them back. It is to detailed to go into all of that here in this short posting, but much of the problems traders face are internal, not external. You do need a solid written trading method that you follow as best you can and again, it needs to be solid, something that you can trust will yield the results you seek. Just wishing for that will not make it appear, but given that you have that, the bigger work is within you.
Ask yourself this question? How many hours per week do spend on your personal trading psychology to support yourself and your trading method? Now the next question is, how many hours per week do you spend working the charts, trying out different moving averages and things like that? Now compare the two numbers. I would guess that one side in a given week a trader could spend non trading work and preparation to be about, 10-15 hours per week and the personal internal work to be about zero to 10 minutes.
Here is where the problem lies, as I mentioned. Day Trading is a battle of mind, more than it is a battle with other traders. Just as I mentioned earlier, traders have it backwards. They see the battle as trying to overtake other traders in out positioning them, but its just the opposite, the battle is within themselves.
It is not within our human nature to do the right thing at the right time. We are much more prone to do the wrong thing at the wrong time. I did not come up with that on my own. Without getting to spiritual, let me quote a verse from the Bible, Romans 7:15. This is the Apostle Paul speaking, “I do not understand what I do. For what I want to do I do not do, but what I hate I do”.
Well, we have all experienced some form of this in our life I would bet, but the point is, you have to work on yourself and look within for the answers to why you continue to do the wrong things at the time over and over. This is why Day Trading the emini futures and any form of day trading or scalp trading is so hard. You have this whole area that traders are completely unaware of. For many it takes years to just get them to realize this is where the problems lie, but they to often are looking to something external and far to often not taking responsibility for their actions.
I got a little long winded, but I would guess that some of you might have found this to be an interesting piece. I hope it helps make you think about it. If it helps and you would like to see me expound on the subject, send me an email and ask me to carry on and go deeper in future postings. I will if some of you ask and find it interesting. If you have questions too, I can take those and answer it here in my blog. Feel free to ask. I will respond to just what you ask and there is no pressure to sell you anything. I don’t roll like that.
In closing, scalp trading emini futures is very possible, but each individual has to be willing to do the uncomfortable work of looking within to uncover and expose our weaknesses. In doing so, it is the first step towards actually making your dreams a reality.
Best trades to you all, Vince