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Becoming a Better Trader: What Is Your Trading Style? (Webinar)

Becoming a Better Trader: What Is Your Trading Style? (Webinar)

This series will run each week on Thursday’s at 10 GMT, to join in on next week’s webinar you can sign up here. For a schedule of other live events, please see the webinar calendar.

In today’s webinar, we addressed the question, “What is your trading style?” It’s a loaded question, so we broke it down into smaller questions which make up the larger one. Having a full understanding of what your trading style is, and what works (and doesn’t) for you is very important. The goal of the webinar was to help in identifying strengths and weaknesses, and work towards doing more of the former and less of the latter.

Each trader has a unique approach to markets and how they operate in them. There is no truly right or wrong way, only the one which works for you.

Here are some of the questions asked today: What is my primary form of analysis? Secondary? What type of tools/methodologies do I use, and do I truly ‘identify’ with them? Which trade set-ups do I execute best and fit my personality? What length of time am I most comfortable holding trades? What is my risk tolerance, how much am I willing to risk on a trade? These questions and others were addressed with examples as well.

At the end of the day, we must have a plan of attack in place and understanding of ourselves prior to sitting down in front of the screens. This is an important part of working towards becoming a better trader. For full details, see the video above…

For educational content, see our Trading Guides.

---Written by Paul Robinson, Market Analyst

You can receive Paul’s analysis directly via email by signing up here.

You can follow Paul on Twitter at @PaulRobinonFX.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.