Constantly chasing market moves and switching positions from long to short is a fool's game, says Hubert Senters, who shows how to increase profitability simply by being more efficient with your trades.

It's impossible to trade every turn of the market. You're human and you'll never spot every opportunity. Not only is it impossible, but trying can be deadly to your profit and loss ratio (P&L). Constantly chasing reversals and going long to short, then short to long just doesn't work for most traders.

See also: How to Overcome Overtrading

One of the main reasons that it's not good for your profitability is that it increases your "burn rate." What I mean by burn rate is that it increases the amount of cash that you will burn through before you're out of money.

One of the best things that you can do for your trading account is to trade less and make more. Every trader needs to make the most of every trade. Remember, it's not how much you make that's important, but how much you keep.

See related: How to Minimize Losses Every Time

In most cases, the market will either put in its high for the day or its low for the day within the first hour and a half of trading. Most traders would be better off trying to figure out if the low or the high is in place and then trading in that general direction for the remainder of the session.

Watch the video below for more detail:

By Hubert Senters, co-founder, TradeTheMarkets.com