In uncertain markets, it can be easy for a trader to lose both focus and discipline. Here’s a recent e-mail I received from a currency trader.

“Dr. Doug: I made the critical mistake, this week, of turning my long-term bearish thesis about instability in Europe and the falling Euro into a short-term trade. I was so afraid to miss out on the big move that I started shorting the rally and got squeezed out near the top. Now the Euro’s falling out of bed and I’m sick to my stomach thinking about what could have been. Please help me get my head back in the game. Signed, Premature Trader.”

Well, here’s the deal: You need to slow down and accept that many times, the best trade is no trade. Most traders naturally fear that if they don’t participate right now, they’ll miss that big move and regret it. The irony is that by jumping in and going against your game plan, you could actually end up missing out on the same money making opportunity.

The solution is simple. Stop trying to be perfect. Great trading is not about perfection, it’s about probabilities. If you go to a restaurant and order a steak, you don’t need to eat the bone, gristle and fat to enjoy the steak. And you don’t need to sell the top or buy the bottom to make a killing in the market. Just look for the sweet spot and dig into that. If you leave some profits on the table, that’s ok. You’re still going to leave the table feeling confident, in control and with a full stomach.

Learn the lesson this time so you avoid this common trading mistake in the future.

(Watch the Video Online: Market coach Doug Hirschhorn, PhD, advises investors on how to navigate this tricky “traders’ market.”)

As you’ve probably heard by now, we’re in what’s commonly referred to as a “traders market.” This type of market is tricky even for elite traders, which is why I want to share with you four things you need to keep in mind to be profitable.

1. Take a tactical approach Like a surgeon, you have to pay close attention to where you enter and where you exit. One small mistake can cost you big time.
2. Get bigger quicker These types of markets don’t allow traders the luxury of scaling into positions. Rather, you have to know what setup you’re looking for and when it appears, you want to hit it big because it may be the best chance you have to get in on that trade.
3. Use tighter stops In trending markets, you have time to let your trades breath so you don’t get squeezed out of them. Unfortunately, that’s not the case in a “traders market.” In this market, tight stops will keep you in the game longer and right now, the traders making money are the ones who are able to survive the quick moves.
4. Your intuition will show you where to find profits I’m talking about that feeling you get inside when you think now is the right time to get in the trade. If you want to be successful, you need to pay attention to your gut and then, most importantly, follow it.

The biggest mistake a trader can make is to have a great idea and not have the confidence to put it into action. Do not be that guy.

Think better, invest smarter.