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After learning about the most important types of trading, the most important question remains: which of these methods is best for me?
Indeed published a report to help readers choose the most suitable trading style for them. The report indicated that finding the right trading style for the investor is of utmost importance. Choosing the type of trading depends on your risk appetite, time frame, ability to conduct fundamental or technical analysis, as well as your psychological state when trading. The report identified several questions that you should know the answers to before choosing your trading style.
Do you only trade once a day?
Are you quick witted?
Are you patient and calm?
Answering these questions will help you determine the type of trading that suits your personality. For example, if you have plenty of time in the morning and some knowledge of technical and fundamental analysis, you can choose the daily trading style.
If you have the ability to make quick decisions, then the swing trading style will be the most suitable for you, as this type requires making different trades separated by seconds or minutes, and exiting the trade immediately if you think it is going against you.
Position trading is a more relaxed style of trading, and is suitable for those traders who do not want to monitor the markets closely on a daily basis.
Finally, the report advises the investor, after becoming familiar with the different types of trading methods and the personal characteristics of each, to try them all on a demo account to make sure which method is most suitable for your personality.
