As professional traders will tell you, one of your first jobs as a new trader is to find a method of trading that suits your own personality.
But, what is your trading personality?
You will learn more about this over time as you learn more about trading but doing some self analysis as part of your initial planning and research is a must.
We have provided a Trading Personality Quiz to help you get the ball rolling in the next lesson.
Once you have an idea of where you fit in the spectrum of diligence, emotion and risk aversion, you can start to recognize your trading strengths and weaknesses. To overcome your weaknesses, you can then develop goals to improve in these areas as part of your overall plan.
There are many aspects to trading and they all need attention. The different aspects of trading are all important and must all be well understood and this usually comes with experience. In order to gain the experience you must first survive as a trader.
Getting a handle on your own trading personality is one way of ensuring that you do survive!