We make choices in life. There is no exception in trading. Every trader will have to make an important choice(decision):
Will I be a specialist or generalist as a trader?
Everyone has his/her own choice. I've been flipping between specialist and generalist for quite a while. Now it is clear to me to be a specialist is the right way. To be a specialist means we must be real experts trading a particular method in a particular market. Only when we become real specialists, then should we consider expand our trading to become generalists.
The key to excel in trading is to have edge. It is difficulty to have edge since trading is a very competitive game. To be focused makes it earlier to have edge and trade with edge.
BTW, take a look at
John Carter. Needless to say,
John Carter is a veteran trader with a lot of experiences and knowledge. However, if you read his book Mastering the Trader, you will find he is far from a master trader. Frankly speaking, I don't even consider he is a good trader. The reason is simple, the majority of his trading set-up have little edge. I guess this may be attributed to the fact that he is involved in too much trading styles in too many markets. He trades everything in every style. Unfortunately, he is an expert in none of them.
This is my 2 cents.