Focus On Technique, Not On Profits

Michael Phelps has one of the most beautiful butterfly techniques ever, which is a big reason why he was so good.

One thing you have to learn as a competitive swimmer is that technique is everything. Once you master the technique, the speed will come naturally.

The majority of your time and efforts should be on perfecting your stroke.

In the same way, I believe that for day trading, you have to focus on perfecting your execution and not so much on your P&L.

Obsess about adhering to every single step of your trading plan/strategy.

Obsess about risk management and minimising your losses.

Obsess about not jumping into a trade too early.

Obsess about keeping your emotions in check regardless of whether you win or lose.

Granted, your trading strategy should be a winning one (i.e. have an edge), and once you’ve found that – which I don’t believe is a difficult thing to do – it is then up to you to aim for perfect execution.

And once you master all that, I believe the profits should come naturally.

I’m definitely not there yet, but I’m working hard in the hope of getting there one day.

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