GreenAndRed

At the beginning of this article, I want to tell you that this article filters out the excess and provides a proven path to becoming a consistently profitable trader.

Yes, I dare say that.

This solution is so simple, yet most people don’t follow it long enough to produce results.

They won’t follow this solution any more than they would stick to a strict diet or keep going to the gym, or even quit smoking.

The power of letting our emotions and feelings run our lives is too strong and most people end up not following through with their plans, their diets, their goals.

Still, I want you to know that change is possible.

Absolutely - you can become a better version of yourself and achieve your goal of becoming a consistently profitable trader.

I am here to help you create a transformation as best I can with these posts.

let's start.

If you are like most traders, you often imagine your potential future self – you imagine yourself as a consistently profitable trader.

But I’m sure you’ve wondered if you can actually be that person.

Because sometimes, when you look at where you are and where you want to be, the contrast between the two is so great that you begin to question whether your ideal self is even possible.

Or, it’s just some false hope you might have—like a mule, hustling along hoping to catch a carrot on a stick.

After all, while some people will go on to become consistently profitable traders, the vast majority will not - in fact, they won't even come close.

So, as aspiring consistently profitable traders, how can we not let our dreams of consistently profitable trading remain just that, dreams?

As mentioned above, there is a reliable, foolproof method to achieve that elusive consistency in trading.

Next up: focus on a good deal!

A Good Deal

You can see that everyone who is successful in this field understands this.

They understand that they will trade much better if they don't remember how much money they made or lost previously, or if they don't try to predict how much money they will make or lose at the end of the day, week, or month.

In other words, these consistently profitable traders understand that they need to "take one good trade at a time."

This “one good deal at a time” philosophy, with no competition, is a major factor in their success.

To be clear, this is not specific to exchanges; in fact, you’ll hear salespeople talk about the importance of focusing on “a good sale,” and in sports you’ll hear coaches tell their athletes to focus on “a good opportunity.”

At its core, a good deal, a good opportunity, is an exercise in maintaining the status quo.

Simply put, our past experiences often shape our current behavior.

Whether the cumulative sum of all our past experiences has been positive or negative, we use it to predict the future and navigate the present.

We create expectations about future outcomes, which often lead to performance anxiety and disappointment when things don’t go the way we expected.

Of course, it is important to learn from the past so that we can better plan ahead; however, the more we worry about the future (e.g., I better win a trade this time or I’m going to be disappointed) and ruminate about the past (e.g., I should have chosen this instead of that), the less effective we will be as traders.

The state of complete presence without agendas, goals, or expectations is a performance booster. When our minds are at their quietest, we are able to fully immerse ourselves in what we are doing and perform better as a result.

Unless you really need to know how much money you made or lost in the past, or how much you will win or lose in the future - for strategic purposes - thinking about your trading results will not help you.

You need to stop obsessing so much about your trading results and give 100% focus, patience, and kindness to the situations in front of you.

Just make one good deal at a time.

That's it! No more, no less.

Practice The Good Deal

Let's see how this works in practice.

Suppose you are a short-term trader.

First of all, this is what I want you to do.

Before you start your trading day, purposefully say to yourself:

"No matter what happens, I have to stay calm and rational."

“I’m going to focus on making one good deal at a time.”

This little mental exercise should be part of your trading plan. Think of it as another rule to follow in your plan.

This is the first part.

The second part is actually making a good trade.

A good deal is one where you follow your rules.

As you focus on finding a good trade, remember: the more you try to find a trade, the less effective you will be as a trader.

Confirmation bias causes you to see what you want to see instead of what you need to see.

A good trade candidate is someone who can impress you without your own peculiar psychological activities.

This is very important. Let the market come to you according to the rules you have decided in advance.

When it happens, execute your trade according to your rules.

If you are a short-term trader, maybe you can make up to three good trades like this every day, and then close the market. Win or lose, come back the next day.

You have a limited amount of attention and willpower, so by limiting the number of trades you take you stay present and objective and don’t end up overtrading.

If you are a swing trader, place no more than 4 good trades like this per month.

What all this means is that some days (or months) you’ll get just one good deal; other days (or months) you might get nothing at all.

You have to accept that.

Always approach your trades with this kind of purpose and structure and you will be amazed at the results.

Avoid The Common Mistakes Traders Make

Here are two common mistakes I see traders make when trying to execute the concept of “one good trade”.

1. They judge trades based on their outcomes.

Most traders look at how much money they made or lost and judge their trading based on those numbers.

In their mind, if they make a profit, it means they are trading well, and if they lose money, it means they are trading poorly.

Of course, this is not accurate.

A winning trade is not necessarily a good trade, and a losing trade is not necessarily a bad trade.

That, you must understand.

Sometimes you will fail even if you do everything right.

This is inevitable.

However, a string of “good trades” will almost certainly lead to positive trading performance over the long term.

2. They focus on too much conditioning.

Often, traders try to trade too many different conditions.

This is a poor management of time and energy; additionally, it promotes overtrading.

Don't count on machine guns to get close, you have to rely on sniping.

A consistently profitable trader focuses on one or two setups and concentrates on the perfect trade.

They also don’t force a deal. They accept and embrace the most important part of the job – waiting.

They wait for signals in the trading window. But if the opportunity does not appear within the window, they will wisely use limit and occasional orders so that they do not have to sit in front of the screen all day.

The consistently profitable trader knows he won't be there at every move, and they're good with that.

Again, they are not trading in order to make money; instead, they let the market come to them, one good trade at a time.

In Conclusion

I told you at the beginning of this article that I was going to show you a simple but surefire method that would make you a consistently profitable trader.

As you can see, this great trading concept is very simple, but can be very powerful if you have a sound trading system in place first.

But of course, simple does not mean easy.

Again, the power of letting our emotions run our lives is too strong and most people won’t implement this solution until they see results.

It's sad, but it's reality.

So now the question is, can you differentiate yourself? Can you go the extra mile and go where most won’t?

I leave the answer to you.

Remember, good deals come one after another.

That's all you need!

If you do that, profits are poised to follow.