Narrow your focus

If you want to improve your trading first thing you need to do is narrow your focus.

Trade one or at best 3 setups. More setups you trade less likely you can do full justice to all of them. The time you spend on running scans , analysing , selecting trade, managing trade increases exponentially as you start trading more setups.

One of the reason people do poorly is because they just can not focus on specific setup. Once you eliminate all kinds of setups and focus only on one or two setups you will quickly find results. You will start to gain expertise in your setup as you start to focus more on nuances of it. You will start to tweak things within a very narrowly defined setup.

Every study on expertise development shows that narrowing the domain is best way to quickly develop expertise. It allows you to develop specific set of skills. Narrower your focus easier it is to trade. Every week think of how you can further narrow your setup definition and things you do. Get rid of unwanted and marginal ideas.

Why do traders flirt from one thing to another or trade multiple methods? Because they lack confidence and expertise in one setup and feel someone has better setup. Because you get exposed to new setup you feel you must trade it.

Sacrifice is required if you want to be profitable. You can not trade all kinds of stocks and all kinds of setups. If someone is selling you that as key to success in trading hold on to your wallet.

Highly profitable traders are highly specialised. Traders who focus on growth stocks only focus on growth. Traders who focus on momentum only focus on momentum. Traders who focus on shorting only focus on shorts. Traders who focus on options only focus on options. Value investors focus on value stocks. Turnaround traders focus on turnaround. Day traders focus on day trading. Traders who focus on high priced stocks focus on high priced stocks. Traders who focus on low priced focus on low priced. Automated strategy traders focus on auto trading. Mean reversion traders focus on mean reversion.

Stop the stupidity and spend this weekend narrowing your focus to only 1 or 2 setups. Get rid of all kinds of clutter in trading. Focus on few things and do it well. Let others waste their time on multiple setups and style.

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Best site to learn to trade

If you are serious about your trading and want to build an enduring edge, the Stockbee Member site might help you.

Members tell me they have tried a lot of things before coming to my site, and it has offered them the most extensive and detailed methods to swing and position trade. Members range from very experienced traders to novices.

No advertising, no hard marketing, no promotions, no free offers, no affiliate marketing, no incentive to other bloggers to promote the site, no constant tweets self-promoting the site, and no tall claims. Every member comes through word-of-mouth recommendations from existing members.

As a member, you will learn the basics of swing trading, momentum investing, growth investing, and risk management. You will learn about Stockbee Momentum Burst breakouts, Stockbee Trend Intensity Breakouts, Stockbee Episodic Pivots Breakouts, Stockbee Lemonade Strategy for 401k, and many other member-shared methods.

You will learn how to set up your own scans, how to select the right kind of stocks, how to set up stops, when to enter, when to exit, how much to risk, how to track your trades, and all other details about trading.

You will learn about developing your own methods and not relying on others for trade ideas. Develop your own edge. Once you develop your own method, you will have a lifelong profitable method.

The site gives you an opportunity to interact with some of the most successful traders and learn from them about their trading methods. It is a vibrant community with members from different backgrounds and experiences willing to help each other. Members have shared their methods, scans, software, backtests, and market insights.

Every day, the emphasis is on continuous learning and upgrading of market knowledge and setup knowledge. The members range from hedge fund employees, financial advisers, active swing traders, investors, and new traders.

You will see that many trading bloggers have been using my market timing methods, scans, and chart templates. They have developed their own methods based on my methods.

Almost every member comes through a recommendation of some of the leading trading bloggers and trading sites. 80% or more members continue to be members for more than 3 years. Most tell me that they stay on because every day they learn so much from the members' site.

If you are looking to develop your own trading strategy, the membership site might be for you. You have to be willing to put in the effort to build your own method. There are no silver bullets offered on the members' site. Every method, every scan, every nuance is detailed, and all possible help is offered to design your own method.

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