April 21, 2008
Q: What will I need to start trading eminis?
A: Besides the obvious — some money, you'll need some time to learn the fundamentals and practice trade (we call it 'paper trading'). Some folks prepare themselves to start trading real money in a few weeks, but I really recommend that no one start until they have about 3-6 months of practice. Along with some money (minimum $5,000 – optimum $10,000), you'll need a good Windows PC with at least two monitors (preferably 3), a high speed Internet connection and the following personal qualities: An open mind; good common sense and average intelligence with the ability [and strong] desire to learn. You must have good Patience and discipline. A good dose of humility, too, will be a great asset. An ego, or traits of stubbornness or thinking you 'know it all' or at least, 'know better' will not lend themselves to your success as a trader. Neither will 'luck'. The only traders I've every seen who were 'lucky' were those who had paid the price for real success. So, with some money and a couple of hours per day…and real desire to succeed, just about anyone can become a successful emini or forex trader.
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Comments on Q: What will I need to start trading eminis? »
"Mel…. you should have my check by now to purchase two more copies of
your outstanding contribution to my life. /Trading the S&P E-Mini and
the Forex Currency Exchange Market. /Upon receiving my copy, through
sheer exuberance, I read the entire text in two days. The knowledge
therein, beyond question, will allow anyone that is diligent to succeed
at becoming their own boss. That is my goal and, after sharing your
book with one of my children and an older brother, I am sure they will
agree.
Douglas White, RN, MS
Baltimore, MD