Fxcc is a regulated Foreign Exchange Broker that offers a wide range of trading technologies and services. Our Ecn/stp

‘personality match’

 is wrong, 

thereafter we’ll make 

some suggestions, using actual 

tried and tested strategies, to 

ensure that your trading matches 

the right strategies and how to 

adjust your mindset to make 

them work.  

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2

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T

he accepted 

wisdom, that 

has snowballed 

over the years, 

generally consists 

of  this; if  you’re 

a twitchy, active, 

chain smoking, 

chain espresso drinking individual, 

who can’t sit still for more than 

thirty seconds at a time, then 

scalping or day trading is for 

you. Have your set up ready 

and every time you see it on 

your charts ‘Ka-pow!’ Pull that 

trigger. Don’t hesitate, just enjoy 

the rush of  adrenaline. Don’t 

count the cost whilst you’re on 

your own personal firing range. 

Wait until the end of the session 

when you’ve exhausted all the 

opportunities...”Ouch, look 

at that, 200 pips down when I 

thought I was 30 pips up on the 

day. Shame. But tomorrow is 

another day to do battle with the 

markets.” We’ll call this character 

“personality A”.

T

hen we have the other 

extreme; you’re a laid back, 

do it tomorrow kind of  person, 

nothing phases you. You’re 

patient, calculating, methodical. 

You have excellent powers of  

concentration, you’re adaptable 

and are in trading for the long 

haul. Therefore the only type of 

trading that suits you is swing/

trend trading. “Ouch! That 

short swing trade didn’t work, 

however, price hit my trailing stop. 

I’ve lost 100 pips, but now the 

confirmation of  the new swing 

looks even stronger, so I’ve gone 

long”. Let’s name this character 

“personality B”.

The common 

misconception 

Contents

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Personality not right for trading? 

Then develop a new one

N

ow we’ve been a little bit cheeky here and we’re sure readers can spot 

what we’ve deliberately done; if you were looking to employ one 

out of  the two ‘personality types’ for a career in trading which would you 

choose? You’d choose the second character, personality B, as personality 

A would be arguably unemployable in your work place. He or she would 

be obstinate, lack focus, rush decisions, be a nightmare to be around, 

radiate the wrong signals to work colleagues and ultimately struggle with 

the complexities of our business.