For all traders, there is something in the market that attracts them to it

It is certainly not a constant and quick quote, the trait itself does not appeal to traders. Rather, what attracts them is the feeling of experiencing "something" when entering the market. For an academically-minded person, for example, trading can be an interesting and very stimulating intellectual challenge. But a poker player can see trading as another form of playing with the same odds and chances of winning. For every trader, we should have something engaging in trading.

You need to have a good understanding of yourself to be successful in trading

An enthusiastic trader has to understand what her / his holding point is and build a trading style around that bottom line. Ask yourself a few questions and identify what the market attracts you to be:
  • Do you like the adrenaline and the feel of the game? Or do you prefer a more controlled form of decision-making?
  • Are you more academically inclined and more inclined to conduct market surveys? Or do you feel more comfortable believing in your instincts and intuitions?
  • Do you prefer to follow predefined rules or are you more qualitative in your decision-making?

What do you want from trading, to be the next George Soros? Or do you just want the freedom to work from home? Want an additional source of income and profit?
Answering these types of self-questioning questions will make it easier for you to identify the type of trader you will become.

Determining what drives you in the marketplace is just the beginning. Once you have found the answer for you, you can begin to identify the type of market you should operate in, the trading profile you should adopt, and additional preparation for your trade. further.

Here's the best way to become a successful trader: Understanding the market, strategies, and correcting profiles best for you. This way, you will maximize your profits.

Once you've found your dynamics, you can then connect with the approach that maximizes that momentum and the trading style that best fits your trading profile.

Obviously, we have certain personality traits and preferences that are better suited to certain trading styles. For example:
  • If your desire is for the competition of high pressure and decision-making, then Day trading and a penchant for trading on short positions are most suitable.
  • Conversely, if you are an avid investigator and researcher, then trading on a larger timeframe will better adapt to your desire for a thorough investigation.
  • On the other hand, if you are a gambler and just want to act, then you shouldn't be a trader!