Author: Emini Academy
Our goal is to give you a clear path for setting up your trading business, developing your skills, and ultimately achieving your trading goals. Follow these steps to get started on your trading journey…
Sale page: Emini Academy
This product is available
CHOOSE A MARKET AND TRADING TIME FRAME
There are many different markets to trade, and the first step is choosing which one is right for you. Some of the most popular markets are stocks, e-mini futures, options, Forex, and digital currencies like Bitcoin.
Here are a few things to consider when choosing a market to trade:
- Capital available to trade: The amount of money you have to trade with will be an important factor when choosing a market. Some markets have minimum requirements set by brokers or governments (listed below), where other markets have no minimum requirements. It doesn’t matter if you’re trading with $500 or $500,000, there is a market for you. Some markets allow you to use leverage, where you can grow your account quicker. Leverage can also work against you, so it’s important to implement smart risk management strategies.
- Time available to trade: Once you decide which market you want to trade, then you decide how much time you want to commit to your trading business. There’s a wide range of time frames you can trade. Some people like to trade full-time, where others can only trade 30-60 minutes a month.
Let’s take a look at the different time frames you can trade:
- Day Trading – The first (and shortest) time frame is day trading. This is where you enter and exit your position within the span of one day. In active market conditions, traders can take dozens of trades in the span of a day. The benefit to day trading is that there’s no need to stress about what the markets do overnight or when you are not actively trading.Some day traders will actively trade for 1-2 hours a day, then move on with their lives. It requires more focus in short periods of time, but also gives the freedom to not obsess about the markets 24/7.
- Swing Trading is where you hold your position over the course of 2 days to 2 weeks. This time frame can be great for people with full-time jobs, because it requires as little as a couple hours a month to enter and exit trades.
- Position Trading is a form of disciplined investing. It’s where you hold a position for months or years before cashing out. There is a big difference between position trading and just randomly buying in hope of a future price increase. Good position trading uses strategies to identify key profit zones to buy and sell. It also takes stop out levels into consideration if the markets move against the trader.
Choose A Market
There are pros and cons to each market, and it’s important to start with a market that can help you achieve your goals. Some trading education companies teach courses on every market under the sun, but our training programs are based on the markets that our team trades on a regular basis.