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3 SIMPLE STEPS to know which trading style suit you that can EARN you Big Bucks!

Everyone of us is unique, the way we talk, think and react to certain things is different.

So, it is evitable that we will trade differently as well depending on your character and personality traits.



You can be one of these type/class of trader:


Scalper/day trader


Duration of trade = From as low as 1 min to 1 day

Personality = Quick thinking, instinctive and Hawk-eyed


Event Driven trader


Duration of trade = Can be few mins to 1day or more

Personality = Analytical, planner and curious


Swing trader


Duration of trade = From 1 to 5 days

Personality = Selective, composed and observant


Position trader


Duration of trade = Upside of 5 days to few months

Personality = Highly systematic, Strategic thinker and Patient, calm


As you can see from the list of different types of trader shown, the choice of which type of trader you are very much depends on your personality and probably time you have to study and monitor the market. And of course, style of your trading might change over time.


Remember this equation and you can determine which type of trader you are:


Trading Style = Personality + lifestyle you want/have


Examples

  • If you are someone who is organized but has not much of a screen time. You may want to consider Swing trading or even EA trading (using automated Trading robots).

  • If you are who take each steps carefully and has analytical mind to research and looking into matters. You can consider position trading as your trading style.

  • Last, but not least, if you are someone that is decisive and looking for quick action and instant gratification go for scalp trading or short term event driven trading!


How to understand and decide which trading style suits you MOST in 3 SIMPLE STEPS?

  • Step 1 : Sit down on a quiet night/morning. All by yourself, try to think through what are the personality traits that you possess.

  • Step 2: Next, try to ask around yourself, what type of personality traits you have, e.g. are you quick witted, rational, patient or analytical. This is important as sometimes friends/close ones opinion on us can be much more accurate than ourselves.

  • Step 3: Try out the type of trading style that suits you the most and if all possible do some tweeting to the trading style as needed.


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