Ep 111: Your Trading Profile and Match for YOUR Trading Style & Risk Profile
★ SUMMARY ★
When you stock traded its all about finding a trading style that matches your risk profile and your risk tolerance. When you look at yourself in the mirror and look for a trading style important that you have a match since every person is different.
If you have a certain type of personality that is a bit more active then you will probably want to be more of an active traders such as a day trader. However if you have more of a relaxed personality than you probably want to focus on strategies that are more swing trading or longer-term investing.
In this episode we will look at different types of trading styles, ways to risk manage, and how to evaluate yourself to create a trading profile for yourself. Keep in mind that something that matches you currently may not be the best for you in the future and that it ultimately depends on the goals, personal situations, and the desire that you hope to achieve within your investments.
Of course you could modify and adjust your trading style but this is very difficult and a lot of work. when you first get started it is best to just evaluate yourself if you are more of a low risk, medium risk, or higher risk individual and this will slowly start putting you into different categories and buckets at which point you can later modify and tweak to your own liking.
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TradersFly is a place where I enjoy sharing my knowledge and experience about the stock market, trading, and investing.
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