In this new-fangled world, humans often choose quality over quantity. Not only in trading, but people also choose and analyze quality in all categories of life. For example, if a device or product is lacking in quality, there is no use if its quantity is larger. The same can be said in trading and people have been debating this topic for years. We will see why quality trade is more important than the number of trades.
If a trader is a beginner, he might automatically tend to be more enthusiastic to gather knowledge from various sources and trade more trades to earn more. The attitude of being a workaholic is right, but sometimes it might be the one where you lack in profit. Because when you are over trading, you are only concentrating on the quantity of trades in which you are participating. However, as a beginner, it is essential to know that only the quality of trades builds a professional trader.
When you are in a plan to make more money and do more trades, you are unknowingly decreasing your chances of making successful trades. You must set criteria of the kinds of trades you will trade, do not budge from it to make more trades. Trading is there to make money, not to reduce the chances of making less qualified trades. It brings down your productivity and profits.
People portray trading as gambling, which you must play in a tricky way. In gambling, people say you can make more money only when you play more. However, in the gambling of trades, making less is what brings you more profit. After all, everything is denoting the quality and not quantity. So be cautious when you are in the trading market even though you are tempted to trade. Check whether the trade is matching your criteria to reach your goals.
Trade with ease
During a trade, you must be calmer than ever to make the right decisions. Because as everyone knows, emotions play a significant role in the trading market to make decisions and to trade. If you are a beginner, make it a habit to not react to the outcome. There are many trades leftover, not this single one. So no need to worry about the quantity of the trades you involve yourself in. This might lead you to a better mindset and emotional state during the trade.
Satisfaction of trades
The trade which can provide you an excellent overall experience is what a trader must train to select. Because at the end of your day, a trader wishes to make trades which satisfies him in all aspects. Satisfactory trades can only happen when you choose trades with confidence. You must have a plan on how to enter and how to make profits during the exit. Pre-plan the trade before you enter, this can make you achieve profit and satisfaction.
Reduce the addiction
There can be many reasons why you over trade, but there are possibilities for you to decrease the way you over trade. You can reduce it by fixing a particular number of trades per month and not exceeding it. Once you start a trade, give ample amount of time to it. Do not jump into another trade with impatience. You have to keep in mind that perfect trades take time in the market. So be patient during the trade to make it successful.
These are the main reasons why you must choose quality over quantity. It might be more useful for beginners since they have no other intention than to make money. Professionals might already know this when they were a beginner or when they realized that they lack success because of over-trading. So beginners can make a note of all these tips and move your trades in the way of increased success.