It is a great luxury to be able to see the trading habits of trading quote vs orderwho have different personality types, different risk appetites, and different life schedules.
We’re obviously not talking about the medical blood types here but the metaphorical sense makes the point. After some practice it is not difficult to find out the type of trading most suited for each individual based off their personality. You can then recommend a specific diet that takes into account the capital, the experience of the trader and the risk profile.
Discovering your Blood Type and Trading Diet
As with a healthy diet, there’s no one plan that works for everyone. The same is true for trading. There isn’t a single strategy for every trader. Be sure to assess yourself, first by assessing your personality. You might be hesitant, or you may act impulsively. Do you have a short temper or are you patient? You can ask someone who knows you well to help identify strengths and weakness. You’ll be better off if you have a hard skin.
For a deeper understanding of your personality, you can keep a journal that focuses on your traits. This will help to pinpoint specific traits as well as how they impact your trading. It’s one thing to understand your personality, but another to do so when trading. Patience with kids is good but patience when it comes to a losing trading is bad. A trading journal allows traders to examine winning and lossing trades to determine factors that contributed to either success or failure. Do not forget the outer characteristics, such as your risk capital and schedule. Don’t fool yourself. Think hard and long about the time you have to trade and your risk capital. Look at your use of time and capital. Examine the trading market, style of trading, and time frames that you’re using. Does this market, style of trading and timeframe suit your personal schedule and risk capital? Is it a good fit for your personality and risk capital?
The examples below will demonstrate that it’s absolutely necessary to do a self-assessment in order to decide what kind of trading diet is best for you. First, let’s look at the different trading blood type diets.