- An aspiring trader has to understand what her/his hook is and construct her/his style of negotiation around this hook. Ask yourself some questions and determine what about the markets attracts you to it.
- Do you like the adrenaline and the emotion of the competition? Or do you prefer a more controlled form of making decisions?
- Are you more academic and inclined to perform investigations of the market? Or do you feel more comfortable trusting your instincts and intuition?
- Are you set by defined rules and prefer to use a calculator? Or are you more qualitative in making your decisions?
- Are you interested in international matters?
- Are you interested in the ins and outs of individual companies? Or are you interested in economic theory?
- What is it that you want from trading, to be the next George Soros? Do you want the liberty of working from home? Do want an additional source of income and profit?
- Responding to these questions will help you easily in defining what type of trader you will become.
- To determine what motivates you in the markets. But this is just the beginning. Once you know what motivates you, you can begin to determine the type of markets in which you should operate, the trading profile that you should adopt, and the additional preparation so that your trading will go further than just the basics. This is the best way to become a successful trader, the comprehension of the markets, the strategy, and the profile that best adjusts for you, by this manner you will maximize your profitability.
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