Hope you all would agree that trading in all the formats (Intra-day, Swing, Positional, Long Term) may not be possible for us as an individual.
As a trader I tried all the formats- but could never settle in intra-day. I found my forte in positional trading. I could conclude that, one needs different set of skill and traits in different formats of the game.
This can be very similar to the game of Cricket.
We can see this as-
Intra-day= T20
Swing= One Day
Positional= Test
Different formats of cricket requires one to have different skills set.
T20 cricket requires players to be- quick decision makers, fast and furious, quick on field etc.
One Day cricket requires player to be - strategic, to have good stamina, very disciplined
Test cricket require player to have - lot of patience, be strategic and have high stamina.
If we go by this analogy, then-
Intra-day traders need to be- quick decision maker, fast, strong on psychological factors.
Swing traders need to be- high on discipline, good analyst, have some patience, need to be acquainted with global scenario etc.
Positional traders need to have- lot of patience, high on vitamin-M, strategic and need to have good knowledge of the stock.
Every player does not play each format with similar efficiency. Rahul Dravid is better player of Test cricket but may not be as good in T20. A pinch fast runner and good fielder like Suresh Raina is good at T20, but may not be fit for Test circket.
Of-course there are some all rounders (in the terms of playing all the formats) like Virat Kohli. But frankly how many of them are like that. We know everyone can not be Virat Kohli.
Better is to get yourself perfect in one format of the game first, then try others.
For this you need to analyse, your skills and personality type.
So start working on what you are fit for and then decide which format to trade.
To make it more simpler- compare your personality with good Test players and if you find a similarity with some good test players, you can consider your self to be fit for positional and long term. (This is very raw and simplest way of understanding your trading personality. And of-course this is my way of deciding it- I may be wrong or there can be more angles to it.)
Similar analogy goes true with all other forms of trading and cricket.
Happy trading.
As a trader I tried all the formats- but could never settle in intra-day. I found my forte in positional trading. I could conclude that, one needs different set of skill and traits in different formats of the game.
This can be very similar to the game of Cricket.
We can see this as-
Intra-day= T20
Swing= One Day
Positional= Test
Different formats of cricket requires one to have different skills set.
T20 cricket requires players to be- quick decision makers, fast and furious, quick on field etc.
One Day cricket requires player to be - strategic, to have good stamina, very disciplined
Test cricket require player to have - lot of patience, be strategic and have high stamina.
If we go by this analogy, then-
Intra-day traders need to be- quick decision maker, fast, strong on psychological factors.
Swing traders need to be- high on discipline, good analyst, have some patience, need to be acquainted with global scenario etc.
Positional traders need to have- lot of patience, high on vitamin-M, strategic and need to have good knowledge of the stock.
Every player does not play each format with similar efficiency. Rahul Dravid is better player of Test cricket but may not be as good in T20. A pinch fast runner and good fielder like Suresh Raina is good at T20, but may not be fit for Test circket.
Of-course there are some all rounders (in the terms of playing all the formats) like Virat Kohli. But frankly how many of them are like that. We know everyone can not be Virat Kohli.
Better is to get yourself perfect in one format of the game first, then try others.
For this you need to analyse, your skills and personality type.
So start working on what you are fit for and then decide which format to trade.
To make it more simpler- compare your personality with good Test players and if you find a similarity with some good test players, you can consider your self to be fit for positional and long term. (This is very raw and simplest way of understanding your trading personality. And of-course this is my way of deciding it- I may be wrong or there can be more angles to it.)
Similar analogy goes true with all other forms of trading and cricket.
Happy trading.
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