Today I’ve got 5 ways you can grow your profits and make more money in your trading – in a business-smart fashion.
1. Benchmark your current system to realize its full profit-potential.
2. Increase your system’s potential through proper optimization.
Make calculated and measured improvements to your current system through proper optimization. In order to do this, you have to have a way of analyzing the affect of ‘tweaks’ and changes you make, preferably without simply going live with real money.
Proper optimization can increase your profits and also reduce your losses, as well as improve your other metrics such as the winning percentage, profit-to-loss ratio, and average profit-per-trade.
3. Measure your progress for continuous improvement.
Track your metrics to improve your consistency and ensure that you’re always making progress toward your goals. Without tracking your numbers, identifying your opportunities for improvement can be very difficult, plus knowing your consistency is nearly impossible.
4. Prepare for changing market moods and climates.
5. Broaden your ability to capture profits.
Once you’ve acquired the ability to analyze a system, you can then look to develop strategies that allow you to capture profits in times when your current system has you sitting on the sidelines.
Being business-smart
Understand, I’m NOT suggesting that you just go trying different things to make more money ‘chasing profits’ on a trial-and-error basis.
What I am sharing with you here are ways to make more money in your trading, but to pursue them in a business-smart, calculated and measured fashion.
One of your most important ‘jobs’ as a trader is that of Trading System Analyst – so that you know in hard numbers what you’re working with at all times during your daily trading, and also so that you can properly prepare for tomorrow.
You have to know that your system is the best to be working with on any given day, and preferably with proof through analysis and metrics.
Cheers
Brian
P.S. If the above ways to grow your profits appeal to you and you need a way to analyze, measure and track as you go, then check out the Trading Performance Analyzer & Profit-Potential Calculator.
http://insideouttrading.com/tpa/
It was created specifically to help you grow your trading business in a wise and prudent manner – and to help you keep the emotions out of your trading.
It is also a terrific way to boost your confidence and solidify your discipline – through having solid and in-depth information about your system and your trading.
P.P.S. New version with updates just released! There have been updates to the Trading Performance Analyzer that make it even more powerful than before to help you trade more profitably. Check it out now!