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Tip of the Week: Know Your Role as a Trader

Posted by TopstepTrader on May 12, 2019

Tip of the Week_ (3)

What is the job of a trader exactly? If you can't articulate what you're supposed to be doing, then you should probably just stay out of the markets altogether. In this week's Tip of the Week, TopstepTrader's founder Michael Patak explains why it's important to "Know Your Role" as a trader.

Remember, a trader is more than just a person who buys and sells financial instruments.

They are liquidity providers and risk managers. They are the chosen few who discover the price inefficiencies that others miss. Traders are not investors, but they are nevertheless crucial to well-functioning markets. They are the oil that keeps the whole machine running.

The job of a trader is not to be right 100% of the time, or to "beat" the market. Their goal is simply to be profitable and grow their account—and they do this by analyzing trends, reading emotions, and reacting strategically. 

Here's how Michael defines the "role" of a trader:

Trade futures?

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Trade forex?

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Topics: Trading Lessons, Futures, Michael Patak, Tip of the Week


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