Quality vs. quantity in Forex trading profession
Aug 22, 2019 at 11:58 am #2192
Do you want to trade Forex? If yes, why? If you ask this question from beginners, 90% of the traders will not have an answer because they don’t know. They don’t enter the market with a clear vision. Instead, they just want to trade because everyone says that trading is profitable. Well, this is one of the reasons why beginners are struggling to thrive in the market. If you are a beginner, you shouldn’t let yourself fall into this category. If you did not have any interest or aim till now, you must set a goal.
After reading this article, think about why you are entering or have entered the Forex market. What is your goal? Likewise, talk to yourself to get the clarity that you want. The traders in the United Kingdom don’t trade just because they have to. This is why they have become successful. If they are trading, they know why they are doing it. They have a goal, and they follow it. Even if someone asks from them, it will be pretty easy for them to answer. But on the other hand, beginners are dumbfounded. If you want to have a clear mindset like the traders in the United Kingdom, you should focus on two things: quality and quantity.
Pro trader’s action
The pro traders never rely on overtrading the market. They trade the market like a sniper. You don’t need to execute too many trades secure the best possible trade setups. Analyze the daily time frame by using the SaxoTraderPro platform and you can easily filter out the best possible trades. Keep things simple to find the best possible trades.
Quantity vs. quality
Why do you think you should have a proper understanding of quantity and quality? Before we explain it, we’d like to advise you to use the demo trading account. Even after reading this article, you might feel like experimenting with the concept. If so, you should use the demo account because you can practice or trail for free. Why should you miss this chance? Now, back to the point. What does quantity in trading means? What does quality in trading means? Both quality and quantity are related to trades.
If you are trading with the interest of making more money in a short time, you will be focused on the quantity. You will try to trade as much as trades as possible. And this is not what successful traders do. If you want to be successful, you should focus on quality. For example, even if you focus on one trade, you should do it perfectly. The entire procedure of entering into the trade should be well-planned and executed. That sums up the terms, but there is more to this.
Don’t make profits for your broker
Indirectly you are making money for your broker even though you are not making money for yourself. Normally, the commissions and spreads will not let you grow your account, and it happens because of your mistake. If you are overtrading, you will lose the profit earned. Just like the casinos, the more the gamblers play, the higher the income. If you don’t want this to happen, you should limit your frequency. Don’t try to trade too much!
You’ll be addicted, but don’t
There are enough things that people are already addicted, don’t let trading fall into that category. You should try to focus on the better said. Think about the disciplined traders who are making money, did they get addicted? They did not because they maintained the balance. You should do your best to maintain the balance because if you become addicted, it is hard to break.
Once you read this, you will understand that quality is always better than quantity. Hence, try to focus more on trading the best trades without worrying about the number of trades. Your goal should be to become successful if so you will not become greedy!00Aug 22, 2019 at 11:45 pm #2194
The biggest problem is the lack of patience, and that leads to too many trades. I believe few good trades are enough to make us good weekly/monthly profits. But the problem is that often we try too much and end up at wrong side. I always keep it simple and it helps via FreshForex broker thanks to the wonderful structure including their education setup, it just makes working nice and easy for me!00
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