{"id":34572,"date":"2014-01-05T10:09:41","date_gmt":"2014-01-05T15:09:41","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=34572"},"modified":"2014-01-12T10:12:03","modified_gmt":"2014-01-12T15:12:03","slug":"enhancing-trader-performance-by-resolving-to-keep-trading-simple","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/enhancing-trader-performance-by-resolving-to-keep-trading-simple","title":{"rendered":"Enhancing Trader Performance by Resolving To Keep Trading Simple"},"content":{"rendered":"

*****David Blair, The Crosshairs Trader, is a blogger\/trader\/educator who does a wonderful job of sharing research on elite performance and how it relates to trading. Below is his latest post for the SMB trading community.***** \u2014 Editor\u2019s Note<\/em><\/p>\n

As we kick off the new year I thought it would be fitting to suggest a trader resolution designed to enhance trader performance. It is a simple resolution to understand but a difficult one to master. The resolution? Resolve to keep the trading process as simple as possible. In fact, I believe your trading process should be so simple that\u00a0even a caveman could understand it. I would hazard to guess that most all professional traders believe that successful trading boils down to having and following a very simple set of rules. For, you see, trading is not difficult; it is the trader who makes it so. Here are a few professionals who share their simple thoughts on the simplicity of the trading process.<\/p>\n

John F. Carter:<\/b><\/strong> \u201cIt is important to remember that there is no need to spend wasted years looking for complicated setups or the next Holy Grail. There are very simple setups out there to use. Some of the best traders I know have been trading the same setup, on the same time frame, on the same market for 20 years.<\/b><\/strong> They don\u2019t care about anything else, and they don\u2019t want to learn about anything else. This works for them, and they are the masters of this setup. They have nothing else coming in to interfere with their focus.\u201d (p. 31, Mastering the Trade: Proven Techniques for Profiting from Intraday and Swing Trading Setups<\/a><\/i><\/em>)<\/p>\n

John Murphy:<\/b><\/strong> \u201cMy work has gotten better due to simplifying my approach<\/b><\/strong>.\u201d (Simplicity Sharpens Skills<\/a>)<\/p>\n

Clifford Bennett:<\/b><\/strong> \u201cWhile there have been some spectacular front-cover traders, the ones who amass fortunes year after year tend to stay in the background. At the very least, they display a simple and down-to-earth approach to markets if they are ever interviewed.<\/b><\/strong>\u201d (p. 117, Warrior Trading: Inside the Mind of an Elite Currency Trader<\/a>)<\/p>\n

Dennis Gartman:<\/b><\/strong> \u201cKeep your technical systems simple<\/b><\/strong>. Complicated systems breed confusion; simplicity breeds elegance.\u201d (From Dennis Gartman\u2019s Trading Rules List, Rule #12<\/a>)<\/p>\n

George Angell:<\/b><\/strong> \u201cOne observation I\u2019ve made over the years, which is especially notable on the trading floor, is that everyone who truly succeeds is a specialist<\/b><\/strong>. Unlike the novice trader, who may dabble in as many as a dozen different futures contracts, the professional floor trader is identified with just one kind of futures and one specific type of trading\u2026moreover, the professional is identified by his specialty-scalper, short-term trader, spread trader, or whatever. He does the same thing every day.\u201d<\/b><\/strong> (pp. 10-11, Sniper Trading<\/a><\/i><\/em>)<\/p>\n

Marcel Link:<\/b><\/strong> \u201cSystems should be kept as simple as possible. Overdoing things doesn\u2019t make a system better; on the contrary, it can take away from a good system. Trying to make a system too complicated with too many indicators and variables is a common mistake with some traders: some of the best systems are the simplest.<\/b><\/strong> As a rule of thumb, a system should fit on the back of an envelope and be easily explained so that someone can understand what every indicator does and every rule does. Otherwise it\u2019s too complicated. Always remember the old adage \u2018Keep it simple, stupid\u2019 and you\u2019ll be okay.\u201d (p 249, High Probability Trading<\/a><\/i><\/em>)<\/p>\n

Mark Douglas:<\/b><\/strong> \u201cWhat you want to do is become an expert at just one particular type of behavior pattern that repeats itself with some degree of frequency. To become an expert, choose one simple trading system that identifies a pattern, preferably one that is mechanical, instead of mathematical, so that you will be working with a visual representation of market behavior. <\/b><\/strong>Your objective is to understand completely every aspect of the system-all the relationships between the components\u2014and its potential to produce profitable trades. In the meantime, it is important to avoid all other possibilities and information.\u201d (pp. 208-09, The Disciplined Trader: Developing Winning Attitudes<\/a><\/i><\/em>)<\/p>\n

Adam Grimes<\/b><\/strong>: Traders mistakenly believe \u201cthat complexity will lead to better trading results. Simplicity is often better than complexity<\/b><\/strong>.\u201d (p. 9 The Art and Science of Technical Analysis<\/a>)<\/p>\n

Brett N. Steenbarger<\/b><\/strong>: \u201cThere is much to be said for keeping trading logic simple<\/b><\/strong>.\u201d (p. 255 The Daily Trading Coach<\/a>)<\/p>\n

Paul Whitfield:<\/b><\/strong> \u201cYou simply have to get out of a bad stock quickly. You simply have to respect the market rather than fight it. You simply have to know your limitations. And you simply have to keep it all simple<\/b><\/strong>.\u201d (IBD<\/a>)<\/p>\n

David Blair<\/b><\/p>\n

THE CROSSHAIRS TRADER
\n<\/b>www.thecrosshairstrader.com<\/a>
\nhttp:\/\/www.thecrosshairstrader.com\/crosshairs-blog\/<\/a><\/p>\n

Related blog posts:
\nSteps to Mastery<\/a>
\nTriggering Elite Performance<\/a><\/p>\n

No relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"

*****David Blair, The Crosshairs Trader, is a blogger\/trader\/educator who does a wonderful job of sharing research on elite performance and how it relates to trading. Below is his latest post for the SMB trading community.***** \u2014 Editor\u2019s Note As we kick off the new year I thought it would be fitting to suggest a trader resolution designed to enhance trader … Read More<\/a><\/p>\n","protected":false},"author":1042,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1935,1,455],"tags":[1420,144,1837,38,1862],"class_list":["post-34572","post","type-post","status-publish","format-standard","hentry","category-david-blair","category-general-comments-2","category-trading_psychology","tag-performance","tag-trader","tag-trader-performance","tag-trading","tag-trading-process","no-post-thumbnail"],"yoast_head":"\nEnhancing Trader Performance by Resolving To Keep Trading Simple | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/enhancing-trader-performance-by-resolving-to-keep-trading-simple\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enhancing Trader Performance by Resolving To Keep Trading Simple | SMB Training\" \/>\n<meta property=\"og:description\" content=\"*****David Blair, The Crosshairs Trader, is a blogger\/trader\/educator who does a wonderful job of sharing research on elite performance and how it relates to trading. 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