Trading: how to find your own operating style and follow effective strategies?
Anyone who has been involved in trading for several years knows the meaning of this motto: “Trading is a marathon, not a sprint”.
The distances that can usually be covered are usually small. Little by little you work to move forward, analyze and improve your trading, yet it happens that you go back. Even a successful runner needs time before he can complete a marathon breaking his own records.
Finding your trading style
The goal seems far away until you find your trading style. And even in this case the question arises: is the search for one’s own trading style ever complete?
We talked about it in depth with the XTB experts. XTB is a world-class one stop shop investment broker, with a global presence in over 13 countries, licensed and regulated by leading financial regulatory institutions. The XTB platform offers access to more than 5,800 financial instruments - both instruments with real properties, shares and ETFs, as well as derivative instruments of the CFD type.
Many successful traders report that they are evolving. Their motto is “never stop, because the markets don’t do it either”. There are always improvements that often come from certain experiences or new influences. But finding your own trading style is above all one thing: the constant bringing together of your personality and your style.
We don’t want to repeat any typical trading slogans here, because they are read and heard quite often. But one thing is important according to the experts’ experience: adapt trading to your personality until it matches it.
Perhaps you also experience this regularly: while trading, you sometimes feel uncomfortable. The price reduction makes you nervous or you have misunderstood the market trend once again.
These are indications that there is something wrong between your personality and your trading. If these had been in line, you would have traded without any problems. It is a special feature of successful traders who execute their plan without hesitation. They get the necessary self-confidence from the combination of trading and personality.
Finally, you’ve created exactly what you need: a trading style that bears your name. But this takes time. Many traders find that their trading style and personality are still at odds with each other. This is because we regularly discover new things that we don’t like and that lead to errors.
And this is where we must begin and begin to intervene. It shouldn’t matter how long the process takes. You have to accept that it is also a development of your own personality.
Traders often switch styles or systems as soon as it becomes uncomfortable. But there is a difference between “adjust” and “re-align”. In the second case you throw everything away and start all over again.
An example would be the transition from trend trading to counter-trend trading. Or switching from one indicator to another. If you are still in this phase, an adjustment is useless. You’re still in the grosser part. But once you have found the basic concept of your trading, the refinement can begin.
Good trainers or mentors can help you find your personal style. It is no secret that successful people also have the right coach, whether in sports or trading. It doesn’t matter if the mentor’s style is the same as yours.
Take the most important lessons with you. Check out how other traders successfully trade on the stock exchange. Check out what makes them successful and what makes them different from you.
One thing must be clear: It’s not just the system that makes you successful, even if it’s great. It is always about the right interaction between the trader and the system.
Original article published on Money.it Italy 2023-03-29 11:04:00. Original title: Come trovare il proprio stile di trading
