Discovery of my own trading personality

We have all read about the need to understand your own trading personality and what kind of trading style will suit you.


I notice that I tend to go for short term small gains that would close within a day or two and I have the tendency to sit glued to the computer just to wait for the indicators to show up. I do admit this isn't right as one of my motives of going into FX trading was to free up my time for family and health rather than sitting there waiting. However as I have just begun this journey of venturing into the FX world, it'll be a tough period of learning and psyching myself to face the challenges ahead.


As such I strongly believe that my personality and current habits would make me most suitable for Day Trading. I do hope that readers and fellow traders would give me your views and comments along the way. There is still much to learn from you people.

As the market closes for the weekend, I do hope that all traders have a good rest before coming back to the battlefield.

EURUSD Long Trade

Went long for the EURUSD trade as the EMAs that I used had signalled for a sale. Entered the trade before the Accelerator Ocsillator's green bars appeared but that's a risk I was willing to take.

On hindsight, my SL was about 1% more than 3% of my risk capital. This is an area that I need to be more disciplined in. However had I maintain the 3% SL, the trade would have closed at a loss. The decision to set a higher SL was because of the support level from the recent closed sessions.

P/L for the day: 21 (from my GBPUSD trade earlier today)+44 pips = 65 pips

Today's GDPUSD trade

This is today's trade on the GBPUSD pair, the following were my thoughts before I entered the trade (Click on pic to enlarge)

The Exponential Moving Averages (EMA 5, 20, 50)

EMA 5 crossed above EMA 20

EMA 20 crossed above EMA50

This has signalled for a LONG trade.

Other Indicators:

MACD: Sloping up and Fast line crosses above Slow Line

Stochastic: Sloping up and fast moving into the overbought region

Accelerator Ocsillator: 2 Green Bars which signalled that the trend has just kicked into momentum.

Entry, Stop and Limit as indicated in the price chart.

Target profit was met and trade was closed. Still trying to learn as I trade. Overall, a lesson learnt in confirming the EMA and indicators.

Current P/L: +21 pips