Absolutely, always on the dot! I want to get the maximum life out of my car, and besides, regular servicing reduces component wear and tear. I get it done when it really needs a service. I feel that way about life in general, although the market appears to really accentuate these emotional swings.

What if it went bust?

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What on earth would I do then? I try to eat healthy foods and get a good amount of exercise and rest. In fact, on my phone I have a tracking app for each. It dictates all of my trading decisions. Most people would describe my trading style as being calm, with decisions based on strict adherence to strategy rules. I try hard to avoid arguments and conflict. Arguing is a waste of time and very stressful. I keep my opinions to myself. Besides, another perspective can often be enlightening.

Why Your TH Trader Personality Profile (THTPP) is Vital to Your Success

The Forexistentialist Alan Vertue is an accredited Foreign Exchange and Commodities Futures consultant, professional trader, educator, strategy developer and writer based in Sydney, Australia. The information, products and services offered herein are provided as part of a training curriculum for those seeking to further their Forex education.

Currency trading is highly speculative and neither the owners, nor their representatives, make any warranties or guarantees in respect to the correctness or validity of the content found herein. As such, traders making use of the information presented within this website do so at their own risk. This site is not intended to by used as the sole source of currency trading information or education. It is important and assumed that traders employ sound trading principles when using the information contained within this website. We advise all subscribers to, and purchasers of our products and services to utilise simulated trading accounts in order to test strategies and trading methodologies.

Forex trading requires common sense, sound risk and money management and full personal ownership of all trading decisions.

The Competent

Any advice included in this website or correspondence must be considered general advice only and is based solely on consideration of the trading merits of the financial products alone, without taking into account the investment objectives, financial situation or particular needs i. Scalpers are traders who take short-termism to an extreme.

They typically hold onto a position for anything from a few seconds up to a couple of minutes before moving on. Their objective is to make a very small profit on as many trades as possible throughout the day.

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While this helps to reduce the risks, as the short time they hold a position limits their potential losses, they do have to make the right decisions time and time again. The scalper trading style requires tight spreads and liquid markets.

Such quickfire trading can be stressful and hugely time-consuming, as traders have to constantly monitor the latest price movements. A swing trader takes a longer-term view than the scalper, as they typically hold their positions for anything from a few days to several weeks. That allows them to make bigger profits on each trade and also reduces the time they must dedicate to monitoring their trades throughout the day. This makes it a popular trading style for those with other commitments, such as a full-time job.

Swing traders tend to rely on technical analysis of the markets, rather than the macroeconomic and geopolitical factors that have more of a long-term effect. For that reason, swing traders must have an in-depth understanding of the themes that impact foreign currencies and the patience to time their moves very carefully to optimise their results.

Of all the different types of traders in financial markets, position traders take the longest term view. They hold their position for anything from several weeks or months up to years.

Personality Strengths and Weaknesses in Forex Trading

Given that approach, position traders are not concerned with short-term price swings based on daily economic news. Instead they rely on weekly and monthly price action analysis charts to understand how the price of a security moves over the longer term. Position traders take what can best be described as an academic approach to forex trading. They bet on sweeping geopolitical and macroeconomic themes and rely on fundamental and technical analysis to make better trading decisions. These traders look to secure a high number of small gains by trading intensively at the most liquid e.

They like the challenges posed by a rapidly shifting trading environment, where they have to absorb new information and react quickly as the market changes. This trading personality tends to be observant, intuitive, reactive, and quick-witted — but laser-focused under pressure. At a different point on the spectrum are swing traders. They tend to hold onto positions for anywhere from a full day to a few weeks. While the timescale can still be brief, swing traders tend to make decisions based on technical analysis rather than fundamentals, though obviously, they will be watching for the kinds of news events and announcements that can trigger currency volatility.

Swing trading does demand an eye for detail, particularly when it comes to analysing charts. Like scalpers, day traders look to execute numerous trades across the intraday timeframe. By doing that they reduce their exposure to negative news that can hit prices before or after the market opens or closes. These traders make their decisions based on fundamental analysis rather than poring over technical charts and seeking the appropriate signals and correlations.

An event-driven trader will try to benefit from the dips and spikes triggered by economic news and geopolitical events.

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These can include announcements from trusted sources related to data points like non-farm payrolls, job vacancies vs unemployment, gross domestic product GDP , business purchasing PMI , and elections. Event-driven trading will be a good fit for people who take a daily interest in world and national news, and who will do the extra work to understand how these kinds of events can have a direct influence on relative currency prices. In terms of personality traits, they tend to be curious, inquisitive, and future-focused.

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They demonstrate a lot of skill in finding and processing new information and using it to predict how national, local, and global events may play out. Algorithmic traders are the tech geeks of the FX world. Instead of instinct or fundamentals, they use advanced software with AI capability to identify opportunities and place trades at the best potential for gains.