Successful day trading of the futures market requires a mastery and understanding of several important elements.
The trade starts off with deciding WHERE to attempt to get into the market. This is the beginning of the transaction (and extremely important) but there is more to focus on if you expect a positive outcome from trading.
There are two parts to the Entry phase
(1.) The Price Level
(2.) The Timing of your Entry.
After you are in the trade then equally important is how you manage the trade. Bad money management can cause you to lose on what could have been a winning trade and vice-versa, Good money management can help you get out of a bad trade or at least diminish the losses. And finally, how you manage position sizes and overall risk in your trading account is the final key to success.
To see our strategy for Account Management be sure to watch the Training Video – Trading Off Of Risk Capital In Your Account.