If you want to make serious money trading develop a setup and a process flow. Simple process flow is better.
However imperfect it is start first by setting up a process flow for trading any setup you like. Let us say you want to swing trade , you need a process flow to find and trade swing setups.
Unless you have a process no miracle can make you good trader or investor. Once you have process trading profit is outcome of it.
Process orientation will make you an independent trader not dependent on others picks. It will help you develop confidence. Once you have process you can start to improve it. Over months your process improves and you make progress in your profits.
Once you have process you can do things in less time and start to focus your efforts.However imperfect your process , it is the first starting point to becoming profitable trader.
In the beginning run only one or two processes. Your brain will not be able to handle many processes simultaneously. So be less ambitious .
First question you should always ask is what is the process to do this. You read a trading book , fine but unless you have a process to convert that books trading idea nothing will happen.
As you trade more a process you will find simpler ways to do same thing. Once you have one good process for swing trading going well then you can add more processes.
When developing processes think simple. Simpler a process and less the steps involved in it easier it is to perform. If your process involves 10 steps something is wrong with it.
Learn to be process focused and money will come over time. It takes years to master a process. Darvas struggled for 7 years before perfecting a process flow and then made 2 million in 18 months. Most Market Wizards struggled for 10 years before doing well.
Become process oriented if you want to make money trading . Start today.
Source:
http://stockbee.blogspot.com/2019/08/focus-on-process.html
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