What style of trading do you prefer?

What style of trading do you prefer?

| Rich Clifford | Blog

Are you a scalper? A day trader? Maybe you’re a swing trader or a position trader? Or maybe you’re a hedger or something more exotic like an arbitrager? What’s your trading style and why does it matter?

More importantly, what’s style got to do with it? Aren’t we all here to make money? Why does the method by while you press a button have any impact on the end goal?... to make money.

Could you imagine if some high 1st round right-handed QB* draft pick showed up to practice on day one and started throwing left handed?  His coaches would ask, “what the hell are you doing?”

For those of you who don’t live in the US, a QB is the quarterback of an American football team. He throws the ball. Tom Brady, etc.

What would happen if his response was “Throwing right doesn’t fit my style any longer… I’m going to throw left from now on.”

What the hell does style have to do with it?  Just throw the damn ball.

We often hear:
“I need to follow a particular trading style, because I have a day job.”
“This does not fit my trading style”
“My prop firm requires I follow specific style.” (Don’t even get us started on prop firms… Part 1 and Part 2)

Style should not get in the way of success. It shouldn’t have any impact on your decision making process or ability to move forward. Style is a preference. It is not a requirement… especially in trading.

Style does not have anything to do with your ability to generate a profit. Trying to generate a result in a particular style just because you want to follow that particular style is ignoring the fact that it may not be the best way to make money. Sometimes day trading may be the best method. Sometimes you need a bit of a hedge. Sometimes… well sometimes you should just walk away from the screen entirely.

Are you here to press buttons in a certain way or are you here to make money?

As the sayings go:
Don’t let perfect get in the way of good enough.
Don’t let school get in the way of your education.
Don’t let perfection get in the way of progress.
Don’t let the truth get in the way of a good story.
And … don’t let style get in the way of a profit.