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Trading to suit your personality

There are many reasons why people decide to start trading maybe they view it as a challenge or perhaps they just want to earn extra money on the side. There are plenty of reasons why people trade, but it has been my experience that people get into the trading business for one reason above all others, freedom. Sure the potential to make a lot of money is a great but what really motivates people to start trading is the promise of freedom. The freedom to be able to support themselves financially with out having to give up their time to the 9-5 grind. This freedom is great and with it comes a lot of choices, choices like what market to trade , what time frame,   and when to trade, and it is these choices that help to make trading such a great business, because these choices plus more   all add up to make trading completely customizable to the individual. There are a million and one ways to profit in this business and people have more than enough styles to pick from to find a method that suits them perfectly. Unfortunately most traders don’t realize this and as a result their trading suffers.

You see most people give little thought to the role that personality plays in trading and that is a big mistake. If you were a shy and introverted person then you wouldn’t get a job as a door to door salesman, and if you were a person that craves excitement then you probably wouldn’t want to work as a librarian, so why then do so many people choose to trade in ways that don’t suit their personalities. If your method of trading doesn’t suit your personality you are doomed to failure. You need to ask your self what you are like and then use that to decide how you are going to trade, for example if you like fast paced action and having to make quick decisions then day trading may be for you.   If on the other hand you would rather be off enjoying your day instead of sitting in front of a computer then swing trading may be your best bet. Regardless of what your personality is there is a trading style that will suit you, all you have to do is find it .So get out there and find the trading style that most suits you and own it. And remember don’t trade a market or method just because you think it will make you money , because if it doesn’t fit your personality then your chances of profit are slim, and you can take to the bank .

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