What type of trader are you? The Anatomy of a Forex Trader.

“If foreign exchange is the “wild west” of trading, then forex traders are the cowboys. Forex traders are typically comfortable with a high degree of risk, lots of sleepless nights, caffeine, and constantly-blinking computer screens – but what other substantive qualities do they have in common?”

I think this is a very interesting look at our community. This also tells me that most forex traders are not necessarily interested in other markets and are rather focused which puts me in a quandary regarding much of what I teach and encourage traders to do regarding my Forex Market Pulse futures contracts. Is it important? I believe it is. But is the message being heard? Perhaps not.

What’s another great stat here is just how many traders are home-based! The mobile trading lifestyle and the tools that allow it (iPhones, netbooks, iPads, etc.) are even more important and it drives home one idea I have always believed: Trading is as much about the lifestyle and freedom as it is about making a living!

Another important stat is regarding education. And with BabyPips leading the charge with not only the best course – but the best free forex educational course online, there is all the more reason to see this 54% increase. Forums and Blogs account for 38% and 33% respectively and explains why BabyPips is such a popular destination for the new and experience forex trader. Our attitude here is not only entertaining but fun-loving but the information is all business.

Anatomy of a Trader

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  • Forex Automatic Trading

    Interesting facts and really helps to understand what other traders are doing. As a trader, everyone will have the question about others and i think this anatomy is an answer to them. Thanks, i shared this to my blog readers too…

    -Ven

  • Simon MJ

    Very interesting. As a complete Newbie, I am after as much information as I can get my hands on. Thanks :-)

  • Magnus

    I love the infographic.

  • Forex Broker Analysis

    Interesating ! I am personally a day trader and I recommend that spend sometime to read through all the information and then decide accordingly what type of trading styles suit you most and after that spend time to develop trading strategy that fits your style.

    • Salamfx

      Indeed, I agree with you..just realized the same i.e our personality dictates the best trading style for us.  So it’s better to start with the person, then the game.  A good example is how China train their athletes to excel in sports like gymnastics, archery and the like, knowing their physical body may not be the best for 100m sprint.

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