The ultimate aim of every trader is to become consistently
profitable. Whether you like it or not, trading consistency will remain elusive
for many of us.
In my opinion there are three stages of trader development.(Read).
These are defining the structure, deciding upon the tactics and taking massive
action. The third stage is the most difficult one to conquer. In fact it is a
never ending journey where you evolve continuously as a trader. Be prepared to go
through many drawdown, losses and pain
Trading consistency will be preceded by execution
consistency. There is always a gap between the analysis and actually executing
the trade. This is the difference between how you believe to act under certain
situations and how you actually act when time comes ( Read).
Having a good method with an edge and being good at analysis
alone is not going to make you a better trader. The ability to push the button
under pressure is equally important. The difficulty in trading is physically
being able to execute the trades. Proper execution alone can make your edge
work.
I can tell you one thing. This is not going to be a smooth sailing.
Be prepared to feel a lot of frustration. When you hesitate and skip a good trade,
price will go exactly where you expected it to go. In frustration, later you
will either make a premature entry or chase a trade and will cause a draw-down.
Sometimes you may get a nice entry, but Market will come back, trigger your
stop by a tick, and will go where you wanted it to go. Time and again this is
going to happen especially if you are trading a discretionary method
Trading is all about execution and it is a lot harder than
most people think
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