Focus on simplicity to increase consistency in your trading

Trading education is essential for futures traders at any skill level. Whether you’re a beginner trying to get an early edge or a seasoned trading veteran looking to unlock a new tool for your trading toolkit, there are always ways to level up your trading. The NinjaTrader Ecosystem is proud to be the home of many experienced, industry-defining trading educators.

One of those educators, Steven Primo of Pro Trader Strategies, recently hosted a NinjaTrader Ecosystem webinar focused on the benefits of simplifying your trading approach: “The Very 1st Strategy I Ever Learned.” Steven has over 46 years of experience trading the futures markets. In that time, he has learned one very important rule he says applies to all traders: educate yourselves so that you can confidently make your own trading decisions.

Traders should never allow someone else to make their trading decisions for them. This practice can come in several forms:

• Relying on companies’ earnings reports to tell you when to buy or sell a stock
• Using jobless claims reports and other economic announcements to tell you which direction the market is headed or when to enter a trade
• Listening to talking heads in chat rooms or on financial network TV shows and taking their recommendations at face value

Primo suggests that these strategies can be more harmful than helpful and following these approaches is a big reason many traders fail to reach consistency in their trading performance.

“The only traders still trading are the ones who make their own trading decisions,” he said. “Have a simple plan in place and execute it. Don’t worry about economic forecasts, the latest news and market trends, etc. Just formulate your plan and stick to it.”

Steven Primo’s trading education motto

“It’s the easiest thing in the world to over-complicate your trading. It’s the most difficult thing in the world to simplify your trading.”

Traders can fill their charts with  indicators, watch all the financial news, listen to everything the experts are saying, and just wind up with an overly-complicated trading system that may or may not serve their needs. Instead, trade with character and discipline, stripping away unneeded noise and focusing on a few simple things that truly work for you. Regardless of the current economic climate, you can be consistent with a set of simple rules.

Watch the full event to learn more about how education and simplified thinking can support your trading.

Interested in more futures trading tips? Check out our on-demand video education library. New events occur weekly, so keep an eye on our upcoming webinars as well where you can view our schedule and register to attend live events.