Hello guys, I’m fairly new here and would like to ask you guys how do discretionary traders trade. Do they set a certain guideline or rules for themselves or do they create a “system-like” approach in their own trading?
Check out our Forexpedia definition for a general idea of how discretionary traders trade: Discretionary Trading: The Free Forex Encyclopedia
Overall, discretionary traders do trade with guidelines/rules, but the difference is that they are flexible with their trading decisions based on the market environment and experience.
Thank you Pipcrawler, so they indeed trade within a certain guideline they set for themselves. Given the flexibility they have, they do not create a systematic approach?