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Chapter 30, Part II. What Type of Trader Are You? Page 6

Discussion in 'Complete Trading Education- Forex Military School' started by Sive Morten, Dec 27, 2013.

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  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Specific issues of positional trading continued

    - Carry trade becomes significant, especially if you trade on weekly and monthly charts;

    - Almost any pair is acceptable for trading. Spreads are not so crucial here;

    - Demands higher assets value or lower lot size, since the stop loss orders will be much wider;

    - Since larger time frame suggests higher volatility and fluctuation, it demands strong self-control to stay calm if temporal price moves against your position.

    - With super long-term trading you also have to stay calm during multiple retracements against you that also will not be shallow.

    - Also you have to be absolutely confident and have 100% trust in your analysis. Also you capital should be solid.

    So, if you compare your character traits with those that we’ve just appointed you will be able to understand what type of trading is more suitable for you. The major thought here is extreme fast and extreme slow types of trading are the most difficult, although their difficulties are also different. Still there is simple decision could be made – if you have day job, school or college – your way to start is a positional trading on the daily time frame.

    Pipruit: Yep, looks like this is my type. Still I also like day trading, may be I will have a possibility later to shift to it…

    Commander in Pips: Yes, they are the most acceptable types for newbie traders.

    Trading Type gradation


    Commander in Pips: Ok here we will take a fast look at other gradation of trading – mechanical and analytical. Since discussion of creating automated trading systems is still ahead of us – we will not discuss it in details but only appoint the difference between these two types of trading.
     
    #1 Sive Morten, Dec 27, 2013
    Lasted edited by : Oct 9, 2016
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