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Why is Online Day Trading So Hard? More Specifically the Emini Futures – Part 1

I remember when I first started trading the Emini Futures. I came from an options background and really liked the idea of online day trading. I once heard to hold winning trades and cut losses fast. So, very quickly turned my focus to online day trading the Emini Futures.

Well, before stepping into the Emini Futures, I just stepped off a $70,000 week (which I started with $5,000) trading options on the Russell 2000. A very hefty week, which quite honestly was very good timing in the market. I was doubling down each trade I took, which is very risky and I do not recommend. I knew plenty of trading techniques and even took a few online day trading courses, yet did not have a money management system in place. Well, non-the-less, I saw the value of day trading and turned to the Emini Futures as entry and exit could be more quick and efficient.

I was turned on to the Emini Futues and index trading because of the large volatility the market carries. A 2-3 point move can bring dramatic profits into ones pocket if played correctly. This is why online day trading is so popular. A Futures trader understands that proper day trading techniques are implemented, entry is precise, this small move inside a 5-10 point move can lower risk and increase probability for success. But, fear and greed are two emotions that always sidetrack someone that is online day trading, and this why the market exists.

Ok, back to the story. Well, I was familiar with index trading as I took many online trading courses explaining the significance of catching a 2-3pt move each day. That can bring you anywhere from a couple hundred to tens of thousands a day, depending on how many contracts you trade.

So, with my “stock options” trading techniques in place, coming off a huge $70,000 profit week, I’m excited because of all the scoop I’ve heard about index trading the Emini Futures and I really wanted to be a Futures trader for a living.

So I jumped in, and guess what? I lost my shirt big time. I traded during lunch “Big Mistake,” apparently only using day trading techniques weren’t enough. I saw the market teetering in a 1.5pt channel and, of course, thought I could make a quick dollar. I forget the exact amount of contracts I traded, but I lost $10,000 in a matter of seconds.

Remember, there are money makers out there and many of these money makers are the brokerage house you trade with… but that’s another time and another place. I learned you can’t jump in and be a Futures Trader without a system.

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