Your Trading Personality

This week we take a look into another very important concept which is underestimated. People always look for the best strategy time after time and it’s strategy this and strategy that but dont realise the problem they have is themselves. This is because not every strategy suits you and that is critical. I’ve spent around 3-4 months now slowly suiting it to me and even though it is not perfect yet and will never be, it suits me much more than it did at the start and psychologically that is a major difference in the long term. Here is a quick video on my view on building your strategy around YOU.

There is a few ways to adjust it to yourself but here is my best method which I think would work.

  • Whilst testing your strategies and/or still learning, demo trade any strategy you have created or know of.
  • Don’t expect the results or anything but see if you are comfortable with the frequency, approach, win rate and risk:reward ratio
  • If yes feel free to backtest it when you are ready collecting all the data you think you might need to avoid possibly have to redo the whole thing just for that
  • If no then write down what you didnt like about it and how you can go about fixing it. Start that adjustment straight away and repeat the process once you are happy trading this method

Whether it is profitable or not, that will be decided after you backtested but doing this simultaneously to backtesting/learning will save you time by not having backtested things you don’t even like trading and you will gather a few extra things to collect in your data so you don’t have to go back through it. Hope this quick post had some value in it and saves you some time for yourself as time is our greatest asset. It is a trial and error method but better to start early than late

Lach

Published by Lach Plays Trading

I'm a forex trader whos journey began January 2018 and has had its ups and downs but has taught me a lot about the markets and myself as a person. Documenting my journey and sharing my experiences for you to be able to learn from them and my prior mistakes. Fully transparent, not afraid to show losses or speak exactly what comes to my mind.

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