In any profession, it is always the specialist who makes a higher income than just a generalist.
Trading is no different than any other profession. Those in trading who have a special setup that they wait for day in and day out are specialists. All the best traders I know are indeed specialists.
They may sit at their trading desk for two hours after the open waiting for that setup. They have resolved within themselves that they are okay if they don’t get it and will wait until it comes their way. If you want to be a jack of all trades and do every setup that comes your way you will become the master of none.
Master of none are not specialists they are what I call profiteers for their brokers because they end up taking so many trades that they make their brokers rich on commission. Why not find 1-3 special setups, study them, and make them your own; learn to understand their ins and outs become a master of these few set-ups and thereby become a great trader.
Why not become great at one thing or a few things rather than good at a lot of things. Become a specialist today and stop being a generalist. Leave the crowd and join the elite group of disciplined traders. I focus on stocks that gap as my specialty. The idea is to be a specialist by trading less and making more.
