What is a Scalper?
A Scalper is characterised by a very fast-paced approach to forex trading. They seek to profit from short-term price swings, often by applying a rigid system based on evaluating price action. More often than not, a Scalper will have strict entry, exit and risk management parameters, which are carefully calibrated to ensure that winning trades will always outweigh losing ones over time. Scalpers trade in a world of rapid-fire frequency and require strict emotional discipline to execute their approach, meaning it can be particularly risky, but can also reap substantial rewards.
Why did I get this result?
Based on your answers, it’s clear that you perform well in fast-paced environments, working with immediacy and making split second decisions in order to win.
You also seem to look for immediate rewards, preferring regular small wins over occasional larger ones. Snappy, last-minute information seems to influence your decision making, and you don’t seem opposed to accepting some risk in order to find success.
Finally, you’re interested in dedicating a lot of time to forex trading. This is an important attribute for any Scalper as you will need to be constantly checking your trades in order to benefit from small, regular successes.
Which assets may be compatible with this trading style?
Am I destined to be a Scalper forever?
As you grow and learn within the world of forex trading, your style and approach to trading will develop as well. The Scalper style matches your current attitude to life and work, but in a few years, you might have changed your trading style a little. Take this test again 12 months into your forex trading career and see if you have remained as Scalper, or if you’ve become a Swing Trader, a Position Trader, an Algorithmic Trader or an Event-Driven Trader.
REMEMBER, these results were based on a short personality test. Forex trading in your suggested style will not guarantee success.
What is my next step?
If you’re just starting out in your career of forex trading, then DailyFX.com and our years of experience can help put you on the right path. Now you know what type of trading style suits you, why not start putting your strategy into practice? Open a demo account with IG, the provider of DailyFX, today.
Join one of our regular webinars to get insights into the world of forex trading and learn how to develop your own trading strategy. These sessions are run by experienced traders who will discuss emerging opportunities and the latest proven strategies for budding Scalpers such as yourself.
You can also download our free e-book, Tips of a Successful Trader, to learn from real forex traders about the common pitfalls and how to avoid them.