Many traders, including me, like advice that is simple and effective.

Interestingly enough, when I tell traders this one simple thing that can DRAMATICALLY improve their chances of trading success (and I can GUARANTEE it), they often don’t implement it…

So, please, take this advice seriously.

Because I’m talking about a very common obstacle that keeps too many traders from success. And it’s so simple to fix.

The obstacle is…

Jumping from one thing to another.

You’ve probably already heard that successful trading is about CONSISTENCY.

That’s probably nothing new to you. I bet you’ve heard this a thousand times.

But consistency includes CHOOSING AND WORKING ON ONE PARTICULAR TRADING STYLE ONLY too.

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At least for an extended period of time, until you truly master that specific trading direction.

This took me a long time to figure out.

At the very beginning of my algo-trading career, I used to jump from one trading style or approach to another. Way too much and way too often. I “did it all” – daytrading, swing trading, commodity spreads trading, statistical arbitrage, options, pattern trading, momentum trading… you name it.

As a result, everything about my trading was mediocre.

And I couldn’t figure out why.

I used to think that MORE trading directions would make me MORE money and give me better results.

But… it does NOT.

One day I became so exhausted by all the complexity that I decided to take a major shift and reduce my trading to the very minimum. And surprisingly…

…EVERYTHING changed when I decided to focus on ONE DIRECTION only.

In my case, it was breakout trading. I decided to stick with ONE thing only. And become a true MASTER at it.

And almost a decade later – I succeeded.

I still keep focusing on that ONE thing only.

JUST ONE THING.

And it got me far. Including running my own breakout trading hedge fund.

That is the true power of focus and consistency. It gets you much further than any other trader who just jumps from one thing to another. The trader who does everything but nothing better than the rest.

So, here is the one thing that will put you ahead of other traders:

Choose one style, one direction, one approach only.

And MASTER it.

It will feel like more time is required at the very beginning, but you will be an absolute winner long-term.

Traders with 100% specialization are very rare – and usually do very, very well.

Happy trading!

Tomas

P.S.
If you’re teased with the idea of breakout mastery too, and would like to make breakout trading your main focus (which I can highly recommend as it is definitely a very rewarding trading style), you can start with this free 14-day breakout challenge or join me in the Breakout Masterclass.

 

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DISCLAIMER: Trading involves significant risk of loss and is not suitable for everyone. People can and do lose money. Hypothetical results have many inherent limitations. Past performance is not necessarily indicative of future results.

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