You have a responsibility to be prepared mentally each day you choose to day trade. Many traders shun the emotional realities of trading, and this aspect of trading is among the most important. Recent findings in scientific studies reveal, unequivocally, that a traders emotional state during a trading session may be the single most important factor in determining whether a trader has a successful day ...

I think the most important fact, yes I said fact, regarding pivots points is they are a prediction of future support and resistance levels. The key word in the previous sentence is "prediction" and traders should keep that in mind when trading pivot point systems. I have always been conflicted as to why pivot points (PP) become important throughout the course of the day. Most traders begin their day by ...

If there were ever a tougher concept to assimilate than this little tidbit, I'd like to know what it would be. Common sense is a fine thing to possess, but it is of very little use when learning to trade ES Emini futures contracts. And here is the rub, the market does not always move in a logical manner. You tell yourself, "But earnings are up, the market has to go ...

One characteristic of novice traders and ineffective traders is to make too many trades every day. There are many causes for this phenomena, but if you are making 15 trades a day you are probably guilty of this offense. In my world, there are not 15 good trade set ups on the average trading day. I don't think I have made more than 10 trades on a given day, and ...

The average consumer, battered by several spikes in gasoline prices in recent years, is more or less convinced that the price of oil in going up to nearly unaffordable levels. This belief is not based on any certain fact, only past experience where prices have made gasoline an major dent in the average consumers budget. So what does this have to do with the average emini trader? Quite a bit, really. While ...