After being through learning so many different strategies and methods in trading, I feel it is important to share how to be good at a particular strategy or method you’re currently attempting to trade. Being a former gaming athlete, I understand what it takes to compete at the highest level in E-Sports, and one of the takeaways to be successful, regardless be it gaming or trading, is to be infinitely focused on a particular play or strategy before moving on to the next one.
It is important to focus on one trading method (i.e. the CSI System/Swing Trading) for a period of time to really learn the intricacies on how to trade it effectively. Many traders struggle and flee a particular strategy/method at the first sight of failure and do not give it enough time to see whether the strategy could be incorporated into their repertoire of skill sets. Hence, the constant search for a ‘Holy Grail’ by moving to systems after systems, or guru after guru.
Typically, those who succeed are those who focus on learning a particular method in-depth and internalise them before moving on to find other methods that suit or compliment their temperament. By mastering a particular setup one at a time, it helps create clarity and focus in a trader’s mind and at the same time removing clutter and minimising decisions. Contrary to the norm, having 20 strategies or different indicators does not guarantee success in trading. In fact, it is more likely than not that most of the 20 strategies will run conflict into each other, thus causing analysis paralysis (the inability to make a decision).
Of course, if a method does not suit your temperament or personality, you would do better to mold/adapt it or move on to the next one if required. However, if it is logical and is aligned to you, it would be far better to give it the time it deserves before moving on. Remember the old adage, “Jack of all trades, master of none”. By internalising a trading method that suits you, trading can be done in a relatively relaxed and unconflicted manner.
And that is one of the keys to the road of trading success.