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A Professional Trader's Game Plan for the Retail Trader

A key to being a successful trader is consistency. What I mean by that is to find an approach that produces consistent profits. The reason I say consistency is a key is that it gives you a cushion to take risks when the stars line up for you. Let me explain.

Professional Trader’s Game Plan

When I was a bank trader, I became friendly with a trader who managed an fx dealing room. He related his philosophy, which I call a professional trader’s game plan that can be used by retail traders today.

His philosophy was to trade every day to make money on a consistent basis so that he would have a store of profits to trade from when things lined up for him 3 or 4 (or more) times a year. The strategy was to build a cushion of profits, wait patiently for the times when he saw the risk/reward worth leveraging up to make a big bet. He made his big money on those times as he was able to take added risk since he was  trading from strength

The rationale behind his philosophy was that markets spend more time in ranges than in trends. Rather than aim for the stars on each trade, he preferred to grind it out by building a cache of profits that allowed him to trade from strength when the time was ripe.

Strategy for the Retail Trader

This is an approach that should work well for retail traders. This is especially true since retail traders have limited capital that will likely be eaten up with losses if they go for the moon on each trade.

I believe trading is risky enough without making it riskier. Traders should be content with whatever the market will give on any specific trade or day, whether it be 5, 10, 20 pips or more. Applying the professional trader’s philosophy, the goal should be to look to build up a consistent base of profits so you have a cushion, even intra-day, to take a more aggressive trade when a risk/reward setup calls for it.

So the goal should be to make consistent profits. However, this is easier for a bank trader in the old days than for a retail trader today. If it was so easy you would not be reading this article.

How to Make Consistent Profits

If I were reading this article, I would ask the question, If it is easier said than done, how do I go about making consistent profits?

The first answer I would give is to instill discipline in your trading. If you add up the money you lose on gut calls based on hope and undisciplined trading during the month you would be amazed at how it adds up. We call this “pissing” away your money and it can be avoided with a disciplined approach.

One way to instill discipline is to get access to tools and strategies that create a structure to your trading with a goal to trade with the odds on your side. In this regard, I have isolated a pattern that identifies when real money flows are likely driving the market and a 3 Step strategy to trade in the direction of those flows. With real money on your side, I see this as my highest probability trading strategy that should put you on the road to making consistent trading profits.   

Road to consistent trading profits

In any case, this is a professional trader's game plan that can be adapted to retail trading.

Jay Meisler

[email protected]




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