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A few years ago, I wrote an article about my favorite Magic finance heuristics : the rules of thumb that I stick to in order to be successful with my purchases and trades.
Today, it's time to examine the flip side of those heuristics and take a look at some of the most common misconceptions about Magic finance. Everything I've included here are ideas I've seen professed time and again, and I think that it's worth taking a week to talk about why each of them is incorrect - or at least incomplete.
Many thanks to my Twitter friends for helping me put this list together. You can follow me (@ChasAndres) if you'd like to help me with collaborative articles like this in the future.
"There's no such thing as a win/win trade."
Even if you don't think that you agree with this misconception, there's a reasonable chance that you operate this way regardless. Most of the traders that I run into these days seem to operate this way, which makes the whole endeavor all kinds of frustrating.
The era of the "value trader" should be more or less over at this point. Everybody is price conscious, we all know all the tricks, and we all have rapidly-updating digital price guides in our pockets. If you're out there "grinding tables" at this point, you're probably just bullying and frustrating people into giving you incremental value. There are a few people out there who can legitimately pull this off, mostly by trading things like foreign foils that you can't get anywhere else for staples that are easier to buylist or flip online, but they are the exception that proves the rule.