Choose the right trading style

[Ivo Zetticci]

Traders can ultimately benefit from forex trading. Traders can choose the trading style that suits them and stay comfortable while trading. They also need trading knowledge and skills. As a result, many brokers like Eurotrader offer traders educational courses. My broker also offers high leverage up to 1:500, tight and low spreads, powerful trading platforms and tools, live support, and many more.

 

[Sotherefore]

Next I am really serious to trade either cryptocurrency or forex I really have to discipline myself because lack of discipline is really what make me to lose when I was trading cryptocurrency, sometimes if I lost I will develop a trading strategy that can help me to minimise my losses and also a strategy to help me take profits on time ,but even with this when I am on trade I won't care about all the things I have learnt and all the discipline guidelines I promise to followed, I don't know why it is always like This with me , Anyone with similar experience ? How do I over this ,?

 

[Innovatus]

Next I am really serious to trade either cryptocurrency or forex I really have to discipline myself because lack of discipline is really what make me to lose when I was trading cryptocurrency, sometimes if I lost I will develop a trading strategy that can help me to minimise my losses and also a strategy to help me take profits on time ,but even with this when I am on trade I won't care about all the things I have learnt and all the discipline guidelines I promise to followed, I don't know why it is always like This with me , Anyone with similar experience ? How do I over this ,?

Discipline is the key to overcome this!!!! There is no two ways to it.. Trade what you can afford to lose

 

[Kingstone]

Next I am really serious to trade either cryptocurrency or forex I really have to discipline myself because lack of discipline is really what make me to lose when I was trading cryptocurrency, sometimes if I lost I will develop a trading strategy that can help me to minimise my losses and also a strategy to help me take profits on time ,but even with this when I am on trade I won't care about all the things I have learnt and all the discipline guidelines I promise to followed, I don't know why it is always like This with me , Anyone with similar experience ? How do I over this,?

Yeah. That is emotions controlling you. You have to take your time to kill your emotions. Be like a robot. Once you know that you place the trade according to your strategies and the market does not go that way immediately, you have to trust in the process and watch how it will reverse in no time. My biggest mistake is usually to close trades in negative. For a while, I overcome it but it kicked in again. But my strategy has helped me to know which trades I should leave open it close.

 

[Victorial]

The thing about choosing a right trading style is that you will have to work on other people's strategies like your mentor or someone you watched his methods online. When you do, you can edit the style to your settings and see how you can make a profitable strategy. Usually Relative Strength index is 14, but I reduced it to 5 to suit my strategy and it is working quite well. I think it has smothered out false signals to some degree

 

[JoeSeki]

Yeah. That is emotions controlling you. You have to take your time to kill your emotions. Be like a robot. Once you know that you place the trade according to your strategies and the market does not go that way immediately, you have to trust in the process and watch how it will reverse in no time. My biggest mistake is usually to close trades in negative. For a while, I overcome it but it kicked in again. But my strategy has helped me to know which trades I should leave open it close.

Is it even possible to kill your emotions completely? I don’t understand why everyone gives this advice of acting like a robot. It is emotions that separates a human from a robot. Robot trading is neither perfect. The consideration should not be to kill your emotions but to use it in a way that it works for you and not against you.

 

[cashisking149]

I think identifying the trading styles you might want to focus on fairly early is a good way to go to avoid burnout and stress. No good trying to be a scalper if you can only get to the charts for a few minutes a day.

 

[btaliat]

Before we choose the trading style, we must choose which style of trader we want to be. Is it s swing trader, day trader or even long trader. This will definitely give us clue on the type of trading style we need to choose. Besides, trading style doesn't gusrentee us success in trading. Discipline and ability to control emotion do more of the trick. To be honest, I do focus more on the controlling of emotions and discipline of myself with risk management rather than focusing on using a particular trading style.

 

[Setho]

I also believe that it is very important that you should have a particular trading style that have proven to work for you over time so that you can be able to stick to it and see how it is going to make you money. This is usually going to be a combination of so many conditions like based on the announcement of a particular fundamentals or you are very good in detecting signals from a particular technical indicators. It is very okay that you can pick one or two and be very good in it because it is almost impossible to know how to use all.

 

[Swissycheese]

There's plenty of free forex and trading education out there. My favorite is the free Babypips school. I learnt a lot from that

 

[Dita Walczak]

Analysis is needed to make a profit in the Forex market. And to do the analysis, I have to combine strategy. If the combination is not right, the profit will be much more complicated.

 

[Jasz]

Choosing the right trading style is a crucial first step in making profitable trades.

With the cryptocurrency market booming, many people are entering the space to make some money.

There are two main types of traders: technical traders and fundamental traders. You can also trade using a blend of these styles, but most people prefer one over the other.

Fundamental traders look at charts, news, and other factors that affect particular coins' prices to determine their next move. Technical traders use charts to analyze price trends, breakouts, and other technical indicators based on past prices to predict future price movements.

Both styles have been proven effective over time in cryptocurrency markets; however, each style has its strengths and weaknesses. Technical analysis (TA) tends to work well when major trends are established; however, TA can be hard to apply in volatile markets or when there's not enough history available for analysis. Additionally, TA doesn't take into account any external factors that could affect a coin's price; it's all based on pure supply and demand. Fundamental analysis (FA) tends to work better when there are no clear trends or historical data

 

[allison001]

For me , I consider technical analysis to be a very important indication of market most times , because from all indication it seems most forex traders are able to accurately predict the market movement to a high degree of accuracy with technical analysis.

Fundamental analysis also play a very important role in the success of a forex trader , but this only accounts to a minute percentage compared to technical analysis which is mostly applicable when a trader is even about using the fundamentals.

Therefore , I believe anyone that is ready to have a good trading strategy and plan must have to go through a normal training on both technical and fundamental analysis and how these can be applied properly to predict the market movements. when a trader really understand this , then they will be able to develop their own trading strategy based on

Choosing the right trading style is a crucial first step in making profitable trades.

With the cryptocurrency market booming, many people are entering the space to make some money.

There are two main types of traders: technical traders and fundamental traders. You can also trade using a blend of these styles, but most people prefer one over the other.

Fundamental traders look at charts, news, and other factors that affect particular coins' prices to determine their next move. Technical traders use charts to analyze price trends, breakouts, and other technical indicators based on past prices to predict future price movements.

Both styles have been proven effective over time in cryptocurrency markets; however, each style has its strengths and weaknesses. Technical analysis (TA) tends to work well when major trends are established; however, TA can be hard to apply in volatile markets or when there's not enough history available for analysis. Additionally, TA doesn't take into account any external factors that could affect a coin's price; it's all based on pure supply and demand. Fundamental analysis (FA) tends to work better when there are no clear trends or historical data

their personal experience .

 

[Jack Reacher]

Profit ratio will not be same every month because it goes through ups and downs depending on the market condition. However, don’t try to follow wrong approach to increase your profit ratio. Increasing of profit is generally done with time.

 

[Henpeck]

When you are unsure to determine your trading style then answer these questions.

1. How long do you hold
2. What causes you to enter the trade
3. How do you manage your positions
4. How do you exit your positions

 

[Tubiform]

When you are unsure to determine your trading style then answer these questions.

1. How long do you hold
2. What causes you to enter the trade
3. How do you manage your positions
4. How do you exit your positions

Identifying ones’ trading style is very important for making the right approach for trading forex and picking suitable trading strategy.

 

[Titulus]

There are a lot of trading techniques and styles. A beginner gets confused which technique to choose so that he can be profitable. And out of confusions and lack of knowledge, they start switching up between strategies way too frequently. It is important to be focused on one single strategy. You will not start to earn profits right away. But if you are patient and consistent about trading, you will develop your skills and modify your strategy to such perfection, that you will become consistently profitable.

 

[Ithedicious]

Even if I am interested to engage in forex trading now , the most important thing I will do will be for me to get all my training from people who are engaging in the forex market and are generating much profit from it . To me that is what will determine my possibility of succeeding..

I am not saying that learning it from online platform like euro trader is bad, but most of the time if I am interested to learn anything I will mostly focus on how it will suit me. I would just need opportunity that I will ask all the questions I will needs. And the only way I can be comfortable asking all this question is dealing with people who I know are good in what they are doing.

Trading of the volatile market is not an easy things , it requires a lot of dedication , time and investment.

 

[FXOchartist]

Some traders might like work use scalping trading, this is short term trading plan and traders could make multiple order daily. There are aggressive traders could make hundreds transaction with scalping, and works scalping need suppirt broker low spread, ECN broker usually better for instant execution without delay for scalping, I like scalping but not so often. My broker also has low spread even could be zero.

 

[Suba]

Of course, all of you have tried different styles of forex trading, so from the 4 trading styles available, you can choose which trading style makes you profitable most of the time, and so surely the answer lies with you. So to implement a trading strategy/style that suits your personality, of course, it takes time and experimentation on the exchange. Even though all forex traders have prepared themselves with skills and strong analytical skills, they often lack confidence so many of them (traders) join forex communities and forums as a place for free learning and sharing, but we often get confused because every traders have a different opinion.