SniperForexTrader

Hello Traders,

Today I want to talk about the trading style which sometimes seems too complicated to find or at some point we don’t want to accept that certain style fits more our personality than others and therefore the way we trade is going to determine if we are profitable or not.

Personally I have a ‘reversal trade’ personality or what Peter Bain would call a ‘contrarian’, based on this way of analyzing the market I look for candlesticks signals or price patterns that might suggest the end of a rally and the start of a reversal.

On the other hand “momentum” trading or trading “break-outs”  seems complicated for me, I don’t trust price in those cases and I prefer to wait until getting a reversal signal.

I have to admit that when I have traded breakouts more often than not I have lost.

I recognize that the style that better fits my psychology and keeps me calm and confident is a “reversal” trade style where I feel comfortable with the SL point.

My personal point of view is that a novice trader in order to become profitable needs absolutely to find out what style better fits his/her personality, what style keeps him/her calm and confident, once that style is recognized is the moment to practice until it becomes a second nature to trade with that style.

Remember that in this business “repetition” is the key to success, there is plenty of room for creativity however in order to make money you need to be able to repeat over and over the same type of trades until you are profitable, then you might want to try something new (in Demo).

It is said by the most reliable sources that changing strategy each two days will soon empty your pockets, patience and persistence are the most important factors to become successful in trading.

Don’t give up on your dreams!

Max Ramirez