Forex
traders come in many different shapes and sizes. There are male traders, female
traders, fat traders, skinny traders, beautiful traders, ugly traders, slow
traders, fast traders, professional traders, amateur traders, fur traders … and
the list goes on.
Each
trader has their own personality, their own personal schedule, their own
appetite for risk, their own pain threshold and their own bankroll.
Some
traders might have several things in common, but most will be different. The
point is each of you are unique. And depending on your personality, personal
preferences, and situation, how you trade will be a driving factor in
determining your success.
In
order to figure out how you should trade, you must first uncover your own
“trading personality.” Your trading personality will determine the trading
style and method that’s compatible for you.
Trading
is not like a t-shirt. There is no one-size-fits-all. There is no single plan
for all traders.
I
challenge you to perform a self-assessment on your personality, behaviors,
beliefs, and mindset. Do you consider yourself disciplined? Are you risk averse
or a big risk taker? Are you indecisive or spontaneous? Are you patient or a
firecracker? Would you prefer to go bungee jumping or visit a museum? Do you
like your martini shaken or stirred?
An
excellent way to help you with your self-assessment is to keep a trading
journal. It will help you to analyze your thought processes after the trade,
and identify your strengths and weaknesses in your trading. Understanding your
personality is one thing, but understanding it while you trade is a totally
different story. A trading journal allows you to review your wining and losing
trades and pinpoint specific reasons on why you won or lose.
Discovering Your Trading Personality
Forex
traders come in many different shapes and sizes. There are male traders, female
traders, fat traders, skinny traders, beautiful traders, ugly traders, slow
traders, fast traders, professional traders, amateur traders, fur traders … and
the list goes on.
Each
trader has their own personality, their own personal schedule, their own
appetite for risk, their own pain threshold and their own bankroll.
Some
traders might have several things in common, but most will be different. The
point is each of you are unique. And depending on your personality, personal
preferences, and situation, how you trade will be a driving factor in
determining your success.
In
order to figure out how you should trade, you must first uncover your own
“trading personality.” Your trading personality will determine the trading
style and method that’s compatible for you.
Trading
is not like a t-shirt. There is no one-size-fits-all. There is no single plan
for all traders.
I
challenge you to perform a self-assessment on your personality, behaviors,
beliefs, and mindset. Do you consider yourself disciplined? Are you risk averse
or a big risk taker? Are you indecisive or spontaneous? Are you patient or a
firecracker? Would you prefer to go bungee jumping or visit a museum? Do you
like your martini shaken or stirred?
An
excellent way to help you with your self-assessment is to keep a trading
journal. It will help you to analyze your thought processes after the trade,
and identify your strengths and weaknesses in your trading. Understanding your
personality is one thing, but understanding it while you trade is a totally
different story. A trading journal allows you to review your wining and losing
trades and pinpoint specific reasons on why you won or lose.