Do you find that your trading results are not as consistent as you’d like? Are you wanting to confidently repeat when you hit winners? Of course! Goal #1 in trading is profiting. The second is then making money consistently. Third is steadily making greater profits.
Your bottom line results are primarily the result of what YOU do, more so than what the markets do. There are traders making money every single day, so pointing your finger at the markets is just an excuse. If you want consistent profits, then be more consistent in what you do in your trading.
A good starting point is to understand is that trading is a process. That’s why having a good trading system is so vital. If you truly desire to make improvements in a process, and especially when your objective is achieve greater consistency, the three steps below are ones you can take to have the biggest impact on your consistency.
Step 1. Clearly detail and document your system. One of the more common errors that many traders make, particularly regarding consistency is that they don’t take the time to make sure their system is well-defined and written down.
If you regularly...