Emini futures day trading fundamentals and simulated trading system

Fundamental Analysis Fundamental analysis is a methodology for analysis of a company as a viable stock that you want to hold for long term. Fundamental analysis is more widespread in the world of investing since you are going to hold your companies for 10 to 20 years, you do not wish that your companies go bankrupt the next day. Some of the common ratios used are P/E ratios (price earnings ratios) which measures the relative price of the stock to the earnings of the company, the EPS (earnings per share), the debt equity ratio and tons of other ratios. Although I have spent considerable time studying such ratios I discovered that you do not really need such information to be successful in day trading. I repeat, fundamental analysis plays a marginal role in day trading. In fact, most of the time, I don't follow it at all. If you still have reservations about ignoring fundamental analysis, I recommend trading ETFs (exchange traded funds) such as QQQQ which mirrors the movement of the NASDAQ 100. In essence, you are actually trading the index like a normal stock. Indexes usually have a huge number of stocks in them, making them less susceptible to company specific news. However if you are paranoid, then you might still want to follow the news of the major companies in the index. here is no lack of information and no end to analysis. Knowing the fundamentals might seem cool when you discuss company so and so over a cocktail party, but it will not help you rip money off Wall Street in day trading. Being able to remove fundamental analysis from the decision making process is also one of the reasons why I recommend trading Emini index futures. Paper Trading: Don't Ever Underestimate it! Paper trading refers to trading with virtual money, you do not use real money. You jot down in your notebook when you bought at what price and why. When you sell, you record in your notebook again why you sold and calculate the profit or loss associated with the trade. If you cannot make money by paper trading, you can forget about making money in real trading. Always test a new trading idea with paper trading first before using real money. Also start with paper trading after a long period of break, to help you get back in touch with trading. Although there is very little difference between paper trading and real trading in Emini, real trading is subjected to slippage and psychological factors come into play when you are using real money. Do not underestimate the impact of psychological factors on your trading. After you have a reasonable method and money management techniques, it is the psychological factors which will determine whether you make a profit or loss. Some traders have created software to paper trade. You hit the buttons like you are doing real trading but only virtual money is involved and no real cash is used. The system will record down the time, price, symbol and the position opened or closed. This saves you the trouble of keeping a paper record.

Don t be held hostage by the price of gasoline

It seems everywhere you go these days, at least in the US, the conversations are about the price of gasoline. No wonder, since it's broken the $3.00 a gallon barrier and is causing a lot of people real hardships. I'm old enough to remember the gas lines of the 1970's when a similar situation occurred. At that time, I had a production services company in New England, in partnership with a man named, Irving Goldmacher. In addition to being one of the two smartest people I've known - my wife, Georgia, being the other - Irving was a fascinating person. I could probably write a book about him. One day, in the midst of soaring gas prices, Irving went out and bought a new Caddilac, a car that was known to have low gas mileage. I asked him if he had lost his mind, buying a gas guzzling car when gas prices were at an all time high. "James," he answered, "if the price of gas goes up, I'll just figure out how to make more money. I'm not going to live my life worrying about the price of gasoline." Talk about a prosperity mindset! What a great outlook. Irving knew he was capable of creating whatever income he wanted, no matter what was going on around him. This is the real key to living a prosperous life. Be in control of your income. First, realize that your income comes from God and is not dependent on the economy. If you believe otherwise, you're in for a challenging time. Then, develop additional streams of income to supplement whatever else you're doing. If you have a job, this might mean starting a part-time business. If you're already in business, it may mean adding new revenue streams to your existing products or services. Whatever your path, it is crucial to have more than one channel of income. For a list of resources to help you increase your income, visit jimdonovan/resources. html

Get to know the bankruptcy filling process if this is your option

: Filing for bankruptcy is a very personal decision. Heavy debtors may choose to file a bankruptcy if they see no other way out from their heavy debts. By declaring bankruptcy and filing a petition with U. S. Bankruptcy Court, the bankruptcy filer will be protected and relief from debts under the Bankruptcy Code. Bankruptcy filing should be you last option if there are no better options available, because the consequences of filing a bankruptcy will follow you for 7 to 10 years. If bankruptcy is your only option, then by understanding the process of filing bankruptcy will get you more prepare to face it. Bankruptcy procedure and exemptions may vary from one state to another state. This article will walk through with you the general process of filing a bankruptcy. The first part of the bankruptcy filing process is collecting your personal financial information. This includes your existing secured and unsecured debts and tax returns for past two years. Prepare all your deed documents which include real estate you own, car title, land title and other loan documents. You may want to order your credit report, it will provides you some helpful information on your past records. Then, you either assign a bankruptcy attorney or you can choose to file the bankruptcy yourself. If you choose to file the bankruptcy yourself, you need to get the bankruptcy forms (you can get these forms online) and get them fill up. You have to fill in your current financial status and recent financial transactions (within last 2 years) into the bankruptcy forms. At the mean time, you need to decide to file under what type of bankruptcy; there two commons types which are Chapter 7 and Chapter 13, chapter 7 bankruptcy is the preferred one, but not all are eligible to file under chapter 7. If you choose to file under chapter 13, you need to enclose your proposed repayment plan with your petition. Once the bankruptcy petition is completed you will need to file the petition with your local United States bankruptcy court. If you have assigned a bankruptcy attorney to handle your bankruptcy case, the attorney will help you and guide you through the above process. Once you have submitted your petition to the bankruptcy court, you will be immediately protected under the bankruptcy code. Your creditors are not allowed to make direct contact with you or making a claim to any of your property from the date of filing. About 1 month later, the trustee will call a first meeting with all your creditors and your creditors' lawyer. Objections are typically resolved by negotiation between you as the debtor and your creditors. If there is no challenge raises in the meeting, you should receive a notice from court after 4 to 6 months stated that your bankruptcy has been discharged; otherwise, if compromise can be reached by all parties, a judge will intervene. In Summary Bankruptcy filling is a long process, it may takes up 6 months to a few years if a court case involve. You must be prepared to face it and if you have no confidence to get through yourself, it's better to assign an attorney to handle the bankruptcy process.