TRADER TYPE VS TRADER STYLE
We have previously discussed the differences between Trading and Gambling, as well as Trading and Investing. Today, we focus on the importance of knowing yourself in order to achieve higher goals.
Risk management is a very important part of the trading world. Often, traders are also referred to as “risk managers”. It is extremely important to understand your trading persona in order to avoid negative patterns proposed by your brain, and make more educated choices based on criteria that can take your trading to the next level.
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Traders often confuse proper identification between a trader’s type and a trader’s style. Below are examples of each category so you can actively understand the key takeaways of each and how it’s important to map out both when looking to take on trading professionally.
Type:
- Time they are available to trade
- Their goals
- Commitment level
- day/swing/investing
Style:
- Trend trading
- Counter trend trading
- Reversals
- Momentum
In THIS video, Sean is going to expand a bit more into these 2 definitions to help you understand more about your trading habits and help you become better at it.
