Focus on quality trades over quantity from "summary" of How to Day Trade for a Living by Andrew Aziz
When it comes to day trading, one common misconception is that more trades equate to more profits. However, this is not always the case. In fact, focusing on quantity over quality can often lead to poor trading decisions and ultimately, losses. That's why it's crucial to prioritize quality trades over sheer quantity. Quality trades are those that have a higher probability of success based on a trader's analysis and strategy. These trades are carefully planned, well thought out, and executed with precision. On the other hand, quantity trades are those that are made in excess without proper consideration or analysis. These trades are often impulsive, emotional, and lack a clear strategy. By focusing on quality trades over quantity, a trader can increase their chances of success and profitability in the long run. Quality trades are more likely to result in positive outcomes, while quantity trades are more likely to result in losses. This is because quality trades are based on thorough analysis, proper risk management, and a clear trading plan. Furthermore, quality trades allow a trader to maintain discipline and patience, which are essential qualities for successful day trading. By being selective with their trades and only taking high-probability setups, a trader can avoid reckless and impulsive decisions that can lead to significant losses.- Quality trades are the foundation of successful day trading. By focusing on quality over quantity, a trader can improve their overall performance, minimize risks, and increase their profitability. It's not about how many trades you make, but rather, the quality of those trades that ultimately determines your success as a day trader.
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