Tips For Success With A Small E-mini Trading Account

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I recently wrote an article stating one of the major hurdles new traders face in starting a career in e-mini trading is an undercapitalized trading account. Small e-mini trading accounts leave a novice trader with scant room for failure because a series of losing trades can deplete an account in short order. That being said, there are some tips that greatly improve your chances of success when trading an undercapitalized account.

I would characterize a small or undercapitalized e-mini trading account as one that has a balance between $2,500 and $7,000 dollars. I must admit that this definition is, at best, an arbitrary definition for a small trading account. In my experience, the smallest account balance most brokerages will accept is $2,500. This definition excludes the newer micro e-mini accounts being offered, which accept initial deposits as low as $500 and trade with increments of 1 dollar/tick. As an aside, I highly recommend these small accounts for new traders as they allow the trader to trade real money while learning a specific e-mini trading methodology. You may want to refer to some of the past articles in my article list about the problems associated with making the jump from a simulated account to trading a live e-mini account for more insight into this issue.

If a small deposit is the best you can muster, there are several important t practices you must employ to increase your chances of success. I want to stress that a small e-mini account does not doom you to certain failure; there are scores of traders who started small and successfully traded their account to a sizable balance. In order to succeed, though, I would keep in mind the following best practices:

1.Dont overtrade your account. You must strictly adhere to the e-mini trading style you employ and trade the very best set-ups as defined in your methodology. Dont trade any hunches, or allow your emotions to steer you into a trade because it feels right. Trade according to your plan without deviation. Be a disciplined trader when choosing you trade entries.
2.Dont trade too many e-mini contracts. To be direct: If your account balance is small, trade 1 (yes, I said 1) contract. As a general rule of thumb, traders should never risk more than 1-3% of their account balance on any given trade. One of the common temptations for new traders trying to build their account balance is to hit the big one. I admit hitting a great trade would be a wonderful boost to any account, but big ones are far and few between. Learn to be consistent trading one contract and you may be surprised at the steady growth of your account.
3.Trade with the trend. I know this is an over-quoted maxim, but you would be absolutely stunned by the excessive number of counter trend trades I see in my students. No matter how many times I repeat this maxim, traders are lured into counter trend trades at an alarming level of frequency. There are times when counter trend e-mini trade may look alluring, a perfect set-up, but the results speak for themselves; counter trend trades are statistically less successful than trades with the trend.

I want to summarize by saying I have not presented any information that most traders have not heard before. The point I want to make is straight forward: Instead of listening to this advice. Implement these three strategies with diligence and discipline. Do not let complacency or emotions allow you to deviate from these three maxims. Scores of traders can recite these tips; only a handful can put these best practices to their disciplined use. Be one of the handful that stays disciplined, and one of the handful that stays in the e-mini trading business.

Visual Chart Trading, TradeStation Add On, Chart Trading

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Visual Chart Trading Directly from Your Trading Charts!

Can you see the value of being able to:

1.Buy
2.Sell Short
3.Scale into a trade with multiple manual entries while an automated strategy does your exits
4.Scale out of any automated strategy entry using multiple manual exits
5.Manually drag a Profit Target Line into position
6.Manually drag a Stop Loss Line into any position to initially limit risk, and during the trade to lock in your profits
7.Have the strategy calculate and display the Reward-Risk Ratio on your chart, based on where you just positioned your Profit Target trendline and Stop Loss trendline.

You can do all of this without ever leaving your trading chart!

http://www.customizedtrading.com/TradeStation_Add_Ons/Visual_Chart_Trading

The Trend Line Trader Strategy completely allows a Trader to manually interact and manage ANY existing automated trading strategies while eliminating the common TradeManager “Out of Sync” error problems.
Using the Trend Line Trader Strategy you can do any of the the following directly from your charts:

Trader can make Manual Entries & Exits – Computer does the Trade Monitoring & Alerts
Trader can make Manual Entries – Computer does Automated Strategy Exits
Computer does the Strategy Entries – Trader moves Profit Exit Line & Stop Loss Exit Line to manage exits
Computer does Automated Strategy Entries & Exits – Trader interacts and manages automated strategy trades using Profit Exit Line & Stop Loss Exit Line.

After entry into each new trade, this strategy draws a trendline at the “Real” entry price on your trading chart. It also draws an adjustable Profit Limit exit trendline, and a adjustable Stop Loss exit trendline. The trader manages the trade by moving the adjustable Profit Trendline and adjustable Stop Loss Trendline at any time during the trade.

This strategy uses the entry price, profit trendline, and stop loss trendline to calculate the live Reward-Risk Ratio and display it on the trading chart. Move one of the adjustable trendlines and the Reward-Risk Ratio is re-calculated and displayed. See examples in picture #3 and #4.

Professional Traders manage risk first and foremost, risk management is a Traders most important job. This makes good Reward-Risk Ratio trade management very simple.

Why Reward-Risk Ratio trade management is so vital is best said by Perry J. Kaufman, “A trading system alone will not assure success without proper risk control, beginning with individual trades… Every trading style has losing streaks that will ruin an investor who begins trading at the wrong time without adequate capital; therefore the size of the position, the markets to trade, and when to increase or decrease leverage become important for financial survival.”

This is a TradeStation Add-On Strategy and works on any intraday chart, time frame, and symbol, plus it works correctly alongside ANY existing automated strategy you already use. This strategy requires [IntraBarOrderGeneration=True] to work correctly, this means TradeStation will not allow multiple data streams to be placed on the same chart as this strategy.

http://www.customizedtrading.com/TradeStation_Add_Ons/Visual_Chart_Trading

Binary Choices Trading Companion

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How to Profit from a Fully Automated Trading System

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Trading forex can give you a huge potential in profit. By being a 24 hour market, your chances of getting a huge profit from your trades can happen even in the wee hours of the morning. But you dont have to stay up and monitor the market by sitting in front of your computer screen of course. This is where a fully automated trading system comes in.

An automated trading system is not a new thing. Many of these systems have been around for so many years and some traders already mastered the use of these mechanical systems, but not all. Since forex trading can appeal to so many people right now, whether youre an employee who wants to have an extra income, or a retiree who still wanted to have something to do and earn at the same time, forex trading can be a very huge profit gaining potential and a very good automated trading system can be your tool in attaining just that.

TrendBiter uses a proprietary MTSD (Medium Trend Strength Discovery) indicator developed by Dr. Trent Soyuz that takes small “bites” of profit out of trends in the medium range with an exceptionally high accuracy rate for all the major currency pairs.

TrendBiter is a great solution for patient investors who want to trade the Forex market . but avoid the daily grind of chasing down PIPS with the help of a fully automated system without having to become an MQL or JForex programmer. TrendBiter seeks excellent opportunities but typically finds relatively few trades every year (about 10 per pair). It is thus designed for patient investors whose investment horizon is at least one year.

Forex trading is hard specially to those who just started trading, and a good fully automated system can help in making things easier for those who want to trade. TrendBiters goal is to help traders save time, reduce stress and optimize performance. Since this trading system is fully automated, it can relive the trader of the stress and anxiety in sitting in front of the computer at all times watching the market. TrendBiter is extensively tested by leading industry experts with excellent feedback.

The strategy has been designed for the NinjaTrader. platform such that the user needs absolutely no experience or knowledge of Forex trading – a “Plug & Play” concept. Other leading platforms are also supported.

Automated trading systems are here for the long run, visit our website to know more about the benefits a fully automated trading system can give you.

Hanseatic League – Medieval Trading Ports

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In the later Middle Ages or medieval period there was an alliance of trading guilds that controlled all of the business over Northern Europe and the Baltic Sea region. This was the Hanseatic League. Hansa is a German term for guilds. The Baltic Sea area had always been the subject of piracy, raids and unorganized trade but the scale of these ventures never reached an international scope. The Hanseatic League changed all that. In 1158-1159 the German town of Lubeck, now, in modern times, the second largest city in northern Germany, was rebuilt by Henry the Lion, Duke of Saxony, after he had captured it from Adolf the Second of Holstein. This would one day be the cornerstone of the league.

Henry the Lion was one of the most powerful princes in his time (b. 1129- d. 1195) and he is known as the founder of Munich and Lubeck. The town of Lubeck became a central point for all sea trade coming in and out of the Baltic. Most of the cities surrounding the Baltic Sea recognized this and enjoyed their own success, on Lubecks shirt tails by joining into an alliance with Lubeck. This helped all the German trading cities achieve a level of dominance in trade over that area, in the 12th to 15th centuries. Traders from Saxony and Westphalia could now use Lubeck as a point to spread east and north because of this prosperous free trade period.

There had been guilds appearing in the Baltic area before the Hanseatic League. These guilds had the intention of trading with overseas areas that were ripe for trade and profit. At first the Swedish city of Visby was the central point for guilds in the Baltic area. But with an over abundance of merchants joining the guilds, the German traders decided to have their own trading stations and alliance. They eventually formed what were called Hanse and began acquiring special trade privileges with royalty in English cities and other major medieval cities. The location of their main port of Lubeck gave them easy trade with Russia and Scandinavia. The Hanseatic League was the result, as Lubeck formed alliances with Hamburg, and other major cities. The league was fluid and there was no one manager of it. Over the years it wavered back and forth from 70 to 170 members. The large league made it harder for any independent traders to get business in the areas of Northern Europe and the Baltic. Visby, the Swedish city that used to be the center of Baltic Sea guilds, eventually succumbed and ended up in the Hanseatic League itself.

Eventually the Hanseatic League was so powerful they sent men to fight in wars and financed many battles. But the league became too powerful and influential, and English leaders felt they were hurting free trade. It was eventually kicked out of England in 1597. As well, the city of Visby, on the Swedish island of Gotland decided to go against the alliance and become independent again. In the early 1500s this came to wars between Lubeck and Visby, in which Visby was nearly destroyed. All of this warfare financing and trying to maintain business weighed heavy on the leagues finances. Finally the rise of the Swedish empire over the Baltic area eventually brought an end to the Hanseatic League, and it never could regain the power it once had.

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