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  • Friday 19 August 2022

    Being a Good Trader vs Good Trades

    The majority of traders in this field aim for exceptional outcomes without any planning. It is not surprising because that is what social media has been promising us: quick results, quick money, and a simple existence. But if you've been trading for a while, you might already be aware that winning transactions don't necessarily indicate that you're a competent trader.

    I'll explain the distinction between using "good" before the words "trader" and "trades" in this article. A good trader understands that good preparation prevents poor performance, whereas a trader who only concentrates on making "good trades" is only interested in the results and not the setups themselves.

    New traders prioritize making "excellent deals," therefore they don't spend the time analyzing the setup's logic. Even if it means imitating another system or signal, they will go to whatever lengths to ensure that they don't miss a golden opportunity. On the other hand, a good trader is driven to advance. They take their time duplicating trades because they understand that good trading habits come before profitable setups.

    A trader who is just concerned with making profitable deals is comparable to a boxer who only thinks about competing as frequently as possible. Before entering the ring, the top boxers in the world strive to improve their athletic abilities.

    The majority of traders refuse to embrace a harsh reality: trading is not about the market; it is about you. It all depends on your mental makeup, but good trades can be found every day. Technical and fundamental analysis can be mastered, but that is not what sets one analyst from another.

    My advice to you is to concentrate on improving your trading skills since successful deals will undoubtedly follow. Making the most of the cards you already have is more important than getting the best cards, in the end.

    Sifiso Nkwanyana

    Author & Editor

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