Happy Trading Psyche: Which Trading Style is Best for Me?

Happy Friday, my friends!

Since my last few trading ideas haven’t been going well for me, I decided to take some time to evaluate what kind of trader I am. I took one of the brand-spankin-new personality quizzes from the School of Pipsology!

This week I decided to take the “Which Trading Style is Best for You?” quiz. Wanna know why I decided to take that particular quiz? All right, let me tell you a little secret…

A couple of days ago, I decided to trade the news and scalp a few pips off AUD/USD. You see, I spotted this descending trend line on the 15-minute timeframe and thought of entering a short trade if the Australian jobs data miss expectations.

Lo and behold! The actual data missed the consensus by a mile and printed a negative reading instead of an increase in hiring. What’s worse is that their jobless rate climbed a couple of notches from 4.9% to 5.1% so I just jumped in.

Imagine my surprise (and frustration) when the pair started rallying instead. Poor employment data and the currency rallies? What is this madness?!

After I calmed down and accepted the 1% dent on my account, I began to realize that traders probably priced in their reactions to the Australian jobs data way before the report was released. It also dawned on me that I’d need to get a better feel of the markets if I were to take scalp trades again.

But, as it turned out, the personality quiz I just took said that I should stay a SWING TRADER just like my BFFs @sgnemo, @cafetrader, and snook!

swingtrader.png

Of course, I have to take the results with a grain of salt. As Pipcrawler always reminds me, traders continually evolve and I shouldn’t box myself to the results I get.

Anybody out there a swing trader like me? Time to represent!

Take the personality quiz and tell me all about your results through the comment boxes below, on my Playing with Comdolls Facebook and Twitter pages, and even on one of my Comdoll Corners!

Hope to hear from you guys!

Happy time

  • YOUSUF

    DAY TRADER — THAT ME !! :)

    • PipPlup

      Day Tradin’! All day, baby!

      • happypip

        All right! How’s day trading going on so far for you? Hope you’re doing great! And try the other quizzes too! :)

    • happypip

      Cool beans, haha. Take the other quizzes, too! I’ll post my other results up soon. Thanks for sharing yours :)

  • Forex Vendetta

    Hi Happy-Pip,

    Im new here:) I just took the test and I’m a scalper, which is what I do for real, so that was pretty cool:)

    Take care.

    • happypip

      Awesome! Take the other personality quizzes, too! I’ll post my other results up soon. Thanks for sharing yours :)

  • Bryon

    sweetie, 
    i have two pennies: let the mkt tell you what it is going to do in live time instead of predicting so much w/ fibs, support/resistance, etc.
    live breaks of trend lines of close only line charts that CLOSE in the the time period showing a trendline break is one example
    another is looking for plenty of spikes on candles near oversold or over bought areas
    i want u 2 win! hope you don’t mind the advice: let mkt tell u what it is doing live time; not making so many predictions into the future
    this approach can be done in any time frame
    if you use long term time frames, then making a prediction is more likely to play out: ie, the eur/usd monthly close only chart has broken lower trend line: it is going down long term (same with the opposite: usd going up)
    if eur/usd closes today below 1.4190, it will have made a sell signal on the wkly chart too (but there is another trend line below that needs to break later too)
     
    make $$$$$$$$$ Happy Pip! Bryon

    • happypip

      Thanks Byron! I really appreciate the advice :) I hope I can do as you say and start winning pips!