Most beginners do not understand what type of trader they are. Yes I mean it.
Lets understand the 'type of tradings' first. One can be a "Intra-day Trader" or a 'Swing Trader' or a 'Positional Trader'. This is how it is defined in books. But there is
'more to that'.
But before getting into
'more to that' let me briefly explain above trading types:
Intra-day trader: One who begins and completes his trade in one trading day.
Swing Trader: One who holds his positions for 2-8 days
Positional Trader: One who holds his position for 8 days to 3 months
Note: The time frames mentioned above has no formula....it can vary somewhat.
Lets come back to
'more to that'. I wish to refer to thinking pattern of an individuals. Everyone thinks differently. Everyone has different personality traits. Hence within above trading styles there can be many types that an individual can develop or use as advisory.
Lets take an example: Lets say I am a Swing trader. But my
Risk Appetite is low as I am a conservative thinker as compared to
'some other trader' who's
Risk Appetite is high as he is a aggressive thinker. Hence within Swing trading I shall trade with strategies that will earn me comparatively safer returns than
'some other trader' with lesser 'returns' expectations say 3-4% a month. However
'some other trader' will trade with aggressive strategies that can earn him 6-10% a month with higher amount of risk.
Trading type also depend on other factors like availability of Margin Money, availability of time etc.
Before beginning (or even you are an existing traders) your trading journey spend some time in understanding how your really want to go ahead.
I always ask my subscribers and to my students to decide what kind of trader they want to be. If they can not decide on their own I counsel them on that part. Personal counselling on phone/skype/ personal meeting is free for my Advisory Subscribers and Students.
Among my
Advisory Products, I have products for different traders personality traits. For example if One want to be conservative but has sufficient amount of investment to deploy as trading capital I refer him to my
"Prime Options" advisory product. If one want to be little aggressive, has lesser capital to deploy and still want higher returns....I refer him to my
"Prime Futures" product.
Give it a thought before actually starting your journey.
If you want to get yourself counselled on your trading style -put your details like email and contact number in comment below. This will be free of charge but only through mail communication.
Happy trading!!
