April 6, 2008

What kind of trader am I ?

Every book I read tells me that I should know myself, before starting to trade I should know what kind of trader I am from the temporal point of view and also from the fundamental or technical p.o.v.

Can I start a trading career without knowing what kind of trading do I want? I don't think so ! Therefore I will spend some time for researching what kind of trader I am .

As a start - For sure I'm not a position trader, 'cause I like quick profits and I'm not used to waiting too much for them. The only option remaining is : short term trader. But as always things are not so simple: how short should be the term ? Do I like scalping the markets or holding my position for more than one day ?

Scalpers pay too much commisions - I hate this , plus they leave too much of their potential profit on the table.

This is the third update to this post. By eliminating all the possibilities I just realized I am a multi-day trader (at least in the romanian futures market) . I like keeping my trades during 2-4 days and catching as much as possible of the profit.