This statement is generally true. Weak traders are often overly focused on making quick profits, which can lead to impulsive decisions and a lack of discipline. They may be more concerned with finding the “perfect” trade or trying to catch a big winner than with following a consistent process.
Strong traders, on the other hand, understand that successful trading is about more than just making money. They recognize that the market can be unpredictable and that there will always be losses along the way. Instead of fixating on short-term gains, they focus on developing a strong trading process that can help them achieve long-term success.
A strong trading process involves setting clear goals, establishing a well-defined trading plan, and adhering to a consistent set of rules and risk management principles. It also involves continuous learning and self-reflection, as traders evaluate their performance and make adjustments as needed.
By prioritizing process over profits, strong traders are able to maintain discipline and stay focused on their long-term goals. They recognize that trading is a marathon, not a sprint, and that success comes from consistently following a well-crafted plan rather than chasing after quick wins.