Do you trade to make money or to maximize profit?
Do you trade to:
- make money or
- to make maximum profit?
Interesting.
After a lot of discussions about this topic my friends answered, its 2:1 in favor of making money vs. maximizing profit. I think the responses reveal a mental status not oriented to win by default.
So, who will explain all the fierce discussions regarding “superior” trading styles or techniques, as well as the self-deprecating topics about leaving money on the table, getting stopped out, etc?
Of course to answer that question you need to understand the subtle difference between making money and maximizing profit!
My guess, many traders are not being honest with themselves…
Comment by Warren
Ouch… I know that I was trading to make money and I had to stop completely for a year and relearn what I need to do again. I’m currently in final preparations for getting back into live trading again and I see what you mean about the difference. Not just an issue of long term (max profit) vs scalping (make money) either- it’s further than that.
Pingback by Best Forex Trader - 2 characteristics of a top trader | Forex Trading Training
[...] people who have a true passion for trading will still be around, working hard to improve themselves and their trading system. Click Here to [...]