Using Simulators For Trading Emini Options
By ama | March 15, 2009
Emini futures, or simply eminis, are smaller-sized contracts of "full-grown" futures contracts that have been around for decades. Unlike the latter that have been traded on physical exchanges, eminis have always been traded electronically, allowing retail traders with access to the Internet to compete against institutional traders from the comfort of their homes or home based offices.
I've made money trading emini futures so there is no reason why anyone else can't do it too. Speaking from the perspective of someone who has been in the day trading trenches for over 5 years, I have some pretty good news for those just starting in emini trading. Listen, folks: it is now much easier to make progress towards your ambitious goal of becoming a consistently profitable trader than it was when I was a rookie. A lot of this has to do with the advances in technology, because the trading simulators are so advanced now that they can demonstrate the conditions of the markets in a fairly realistic way.
There are quite a few good simulators for emini trading currently available to emini traders, the best of them being probably NinjaTrader. The best feature that NinjaTrader has compared to other stock programs is that it can be used with almost all the emini future brokers out there. What's really nice about this simulator is that it gives you a very comprehensive statistics of your performance, such as the number of losing trades, the number of winning trades, the average profit per trade, the average loss per trade, the percentage of winning and losing trades plus a host of other, even more complex characteristics that could be of particular use to those working on their mechanical emini trading systems. It's simple, the premise is you try to learn how to trade eminis in a simulated environment until you master that, and then you can move on to make your real money with the same software.
One should however be aware that simulated trading of eminis, or any other trading vehicle, for that matter, is not exactly the same as live trading of these instruments. Possibly the most important element of trading is however missing, or at least diminished, in simulated trading. What I am talking about is emotions.
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