What kind of trader are you

Beginner Questions
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The next time someone asks you " what kind of trader are you.?" Instead of answering scalper, day, swing, tech, fund, price action, etc. I hope you will consider this label from Raghee Horner and how to pick entries and exits, by Andrei Knight.

A few months back I was watching a utube video presentation by Raghee Horner and someone asked her, what kind of trader was she: a scalper, day trader, swing trader, etc; her answer was “I’m just a trader; I trade opportunity if it’s short I trade, if it’s long I trade.” She said she’s not concerned about labels, she was concerned about opportunity.

Another quote right below opportunity is from Andrei Knight another trader who commented during his presentation when someone asked about entries and exits. his answer was; “Don’t try to pick tops and/or bottoms. . .pick profit.”

Since I felt that these descriptions fit me pretty good, I put a new sign sign beside my computer. “Don’t be concerned about labels; think opportunity.” Below that I have; “Don’t pick tops and/or bottoms. . .pick profit.” Applying these 2 concepts will give you a whole new out look about trading. It did me anyway.

Something for new traders to consider and remember. Something for not so new traders to consider and remember. Good Luck everyone
Gp

8 Likes
2

Excellent.
I don’t like using labels either, but do just to “fit in”. Considering abandoning this…

Wanted to share something I came across which is deeply profound:
The Secrets I Learned from Jesse Livermore - The Traders Journal

Shouldn’t need to explain it anymore than that.

Jake

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Thank you for posting. Truer words were never spoke.

[U]“We ask each other if they’ve read Reminiscences of a Stock Operator. The insiders reply by telling you the number of times they’ve read the book. Novices ask for the author’s name.”[/U]
:cool: In poker we call that a tell
Again thanks. I hope other traders take advantage of some great advice by reading it.
Gp

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4

Glad to share- this small collection of quotes literally maintain so much power.
Power which can completely change how you approach trading.

:slight_smile:

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5

yip. labels limit our thinking and opportunities.

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I’m an evolving and ever learning trader, I have no problem with that label.

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7

Thanks for sharing this!

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The best part I like. It’s all about how we do the trade successful.

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Glad to share!

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Hello GP00053!

When we were teenagers, we would clothe ourselves in a certain way, and listen to certain types of music, or adopt a certain way of speaking, in order to provide ourselves with a first sense of identity, away from the home, like a butterfly emerging from the chrysalis of childhood, freeing ourselves of our parents’ influence: then, our label was our identity… We were ‘metallers’, ‘emos’, ‘punks’, and so on…

When we are more self-assured about who we are, when we really grow up, we start peeling off that label, because we KNOW who we are, and we may have accumulated many interests: you could be a teacher by day and a metal guitarist by night, a dedicated father through the week and a kick-boxer at weekends… How much easier it is to have labels when you have very little life experience, and you are just about one music style, or one clothing style, or one set of beliefs… Adults are much more multi-faceted beings, and adult traders are also complex, in that respect…

So, I think that in trading, like in life, the newer or younger trader may seek to be about one thing, and pushes to be accepted by the community of traders, and forging a clear label for him/herself is part of the process:
“Hi, I am a scalp/intra-day/swing/position/trend trader” [delete as applicable]… It takes TIME and a little bit more experience to really know what kind of trader you are: not the sort you would LIKE to be, but what really WORKS
for your profit, your personality and, most important of all (but very much overlooked by a newbie), your
PERSONAL WORK-LIFE BALANCE…

I am also with gp00053 in saying that a profit is a profit, and as Jesse Livermore would say, a trader trades opportunities without concern for labels: when he was being labelled the man who shorted the cotton market, after he made a killing on that commodity, he actually was not at all a permanent bear! He was even bullish on the entire market if he saw a bull market but was still very happy to short a single stock if this did not behave like the crowd within that overall bullish bias…

I do not know what sort of trader I am, but I trade anything that gives me profit, regardless of how long it takes to mature, or how quickly it comes to be… The important thing is to always plan your trades: just calling yourself a scalper because you are a trigger-happy newbie just buying and selling constantly without a plan does not make yourself a scalper!

Nice thread!
Cheers

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11

Perfect words, happy to read it all.

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12

Absolutely true. I hope everyone whose trading is not giving them all they expected, take the time to read this thread. especially lyour post

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Hi to all,

Without knowing who you are, how can you set your targeted profit. I have some insides of being label as one, check out my post here. Since my post is low, i am not able to directly link to my post. Copy and paste this link between the quotes. You will understand more what i am saying. <forums.babypips.com/forextown/79188-hi-can-we-band-question-1-what-type-traders-you.html>

traderstype.jpg700×481 57.4 KB

Best Regards,
Victor Lew

P/S: Not trying to offend anyone, just sharing my own insides. :slight_smile:

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15

One has to know his limits and resources in forex market, only then he can trade successfully. Opportunity is when you see a setup according to your strategy, and strategies define whether you are a day trader, scalper or longer trader.

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16

I am new in Forex and still am learning Forex because i do not want to loose my forex because lack of knowledge .

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17

So… what kind of trader are you? :smiley:

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Opportunity Trader. I trade any pair and market session where based on my rules I have the least amount of risk to my account and a profit based on the balance of probabilities.:smiley:

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19

I am a continuous learner, and wants everything to be in perfect place.

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I am enjoying my trading, therefore I can say that I am confident trading but It does not mean that I am successful trader, I am trying to learn more and more about forex and will be more better in near future.

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Don’t lose hope, I think here we can learn many thing about trading forex, but we also need to realized if loss sometime ienvitable, spent time use demo account and learn howe to trade I think will minimize the risk

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