When it comes to maximizing trader performance one thing I've always believed is how important it is to take full advantage of a trading day when the market is moving well and providing high quality opportunities to trade. This seems obvious enough but in my experience I've found many novice traders have limiting beliefs and actions that hold them back and at least some of this can be attributed to the oft-parroted saying that a day trader "just needs to make 2 points a day" to realize their dreams of wealth and freedom.
It's true that someone making 2 points every day can become an incredibly profitable trader. Nobody is doubting that on its initial face value. If you can make 2 points per day with one contract you're doing fine but if you can make 2 points per day every day with 10 contracts you're making a very substantial income and there's no reason you can't ramp up the position size from there.
The issue is that when our focus narrows to the outcome of a single day or even the outcome of a single trade it can actually make long-term profitability that much more difficult to achieve. Read more