Keys to Successful Day Trading
By Toni Hansen and Brandon Fredrickson
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4. Focus on 1-3 Techniques that Work Well
Another trait of great traders is that they usually focus on just a few techniques, usually 1 to 3. The reason for this is simple: The jack of all trades, master of none is usually a low paid unskilled worker. Put another way, examine college students. What kind of people major in general studies? Unless they go on to focus on a specific occupation in graduate school or law school, etc., well-paying jobs will be hard to find for most upon graduation. Instead, for those who focus their studies in one field, and more specially, one subdivision of that field, demand for their skills will be much higher. If you focus on just a few techniques, it allows you to really become an expert on the technique you are using. Great traders have one to three things that work and they use them over and over and over and over again for as long as they are profitable.
Another trait of great traders is that they usually focus on just a few techniques, usually 1 to 3. The reason for this is simple: The jack of all trades, master of none is usually a low paid unskilled worker. Put another way, examine college students. What kind of people major in general studies? Unless they go on to focus on a specific occupation in graduate school or law school, etc., well-paying jobs will be hard to find for most upon graduation. Instead, for those who focus their studies in one field, and more specially, one subdivision of that field, demand for their skills will be much higher. If you focus on just a few techniques, it allows you to really become an expert on the technique you are using. Great traders have one to three things that work and they use them over and over and over and over again for as long as they are profitable.
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