Emini Index Day Trading Method - Learning To Day Trade Plan


Emini Day Trading Method


Learning How To Trade - Do You Have A Learning Plan

You have two primary issues with trading: (1) you essentially must learn a new 'language' which is your trading method (2) you must learn to how to perform your 'language' as you learn it. In order to progress through the learning process you must get feedback. Feedback comes from performing and having the performance evaluated based on a criteria - that criteria being base method trade setups - something that is best done in front of an 'expert' who knows the given criteria.

Feedback also comes in the form of asking 'language' specific-relevant questions. IF you can't ask a good question - you CAN'T get a good answer. AND IF you can't get a good answer - you are not getting necessary information as feedback that can lead to better performance.

I have mentioned a number of times that I learn a lot about what a person knows-understands from the answers that I am given to questions that I may ask - BUT I by far learn the most from the questions that I am asked. I know that when someone asks very general open ended questions - that the person just has not learned enough about the method concepts - the more general the question the clearer this situation is AND the problematic it is for learning to trade.

Everyone's basic job is to define base setups - define them in terms of the specific components that the setup will be comprised up. For instance a break2 of a setup focus price WITH mex flow - is a basic setup definition that a person may chose as a starting setup. From here they can add additional components to make it more selective and/or they can work with this setup and make it more selective by the direction and discretionary decisions they add: (1) they won't take this as a fast chart trade in consolidation (2) they won't take this as a fast chart trade IF it's counter AND against the 120t (3) BUT they would take this as a fast chart trade IF it's with directional strength AND when the start point of the setup is a reject of the counter direction - a reject of a sup:res line into a sell would be an example of this.

Any relevant questions that could be asked about the base setup includes the setup itself AND a question asked in the context of the examples above. Is that a base setup isn't acceptable as a question - WHY? BECAUSE the answer is of no use - a yes answer assumes you understand the same as who answered which isn't necessarily the case as would a no answer. The real answer is - is what a base setup.

What about questions like - I hesitated and missed my trade what should I do? Uhhh - you shouldn't hesitate or you should take a first continuation trade - does the answer help? I could give you many many examples of similar questions that don't allow meaningful answers to give you the necessary information. BUT do understand that regardless of the answer given - if you can't construct a method relevant-method specific question - the answer won't mean much to you.

It is necessary to understand that no person will develop a good base setup plan, without first have a learning to trade plan that includes an understanding of method and the related concepts that 'direct' the setups - the 2 are completely intertwined.

Study Or Review -vs- Learning And Absorbing

Frankly, I have spent a huge amount of time studying the materials on the website and have attend 3 or 4 seminars and listen to many training sessions and did not have a good understanding of what the definition of a base setup is or how to create my trading plan…then in the last few weeks, as if an impediment was lifted, I went back through some of the material and things started to click…from the January, February 07 series of training sessions I have started to create my basic trading plan.

I’m not sure what prevented me in the past…but I do know it was not lack to effort, desire, study or laziness as I have literally hundreds of pages of information I’ve summarized and outlined….I just haven’t been able to put it together until now. I’m not blaming anyone just relating my experience.

IF the material is available BUT not learned - WHAT is the actual underlying problem?

There are a number of issues that I have problems with that I'd like to bring up. Let’s start with the basic definition of a setup and the market conditions that it’s best suited for, and conversely when its not.

Consider what was written above in a completely non-committal way as intended - consider it objectively, as if you know someone else with these issues, and you are trying to decide what you are going to say to them. What if there were numerous training sessions and study reports-daily trade journals discussing specifically this - the basic definition of a setup and the related market conditions?

Can you recognize a problem - this is in reference to your earlier paragraph about not knowing what the problem was in the past AND being concerned to what extent the problem still exists. I am not commenting on effort-desire or whatever BUT I am saying that there is a wealth of resources that address all of these things - so the issue would then go to not if you study BUT how you study - there is something occurring where the material isn't being learned and absorbed for further use OR in a way to ask method specific questions to have problems answered.

Maybe time is being put in reading and reviewing, but this will not by itself lead to learning and absorbing the material where it can be actually used. How you learn method is going to determine your understanding and ability to attempt to try and trade method.

How You Learn To Trade Will Determine If You Learn To Trade

IF you are putting in enough time AND the material is available to you to learn - what is keeping you from doing so? I will assure you that regardless of what you come up with for an answer to this question - it is very much in part to the situation that you don't have selective method base setups that you have accumulated experience with to ever have any basis for making decisions.

I have mentioned a number of times that I can always tell what a person has done AND what they know and understand by the way they construct questions AND the specific content of the question. The more general and open ended a question is - I know the less background and experience that they have with working with defined base setups. You just have to understand this - no person will ever have a good base setup plan without a good learning to trade plan - the 2 are completely intertwined.