Does That Trading System Fit Your Style And Personality?

You saw a few stock traders, audited their style, adopted their Bollinger bands strategy, and are now trading. 

Would you be just as successful as those who you’re copying?

Likely not.

And it is one of the key things that new stock traders must understand.

If building a high-worth portfolio is as easy as copying a successful stock trader, everyone would be at the top, don’t you think?

There’s a big difference between taking inspiration from others and copying their strategies.

In reality, what may have worked for them might fall flat for you. And there are plenty of reasons why, including the difference in the appetite for risks.

However, one thing that often gets overlooked is the personality of stock traders.

Different traders have different personalities. They have their own style.

When you see a profitable stock trader, it isn’t just their plan, triple Bollinger bands strategy and hard work playing in their favor but also their personality. They play around the truth of who they are.

When you try to copy them, you basically give up your strength to look like someone else. This goes against you, inevitably leading you to losses.

Understanding your personality and figuring out what kind of stock trader you are is essential. Once you know that, you can triple down on your strengths and improve the chances of you winning.

So, what’s your style? What are you comfortable with?

Do you like taking risks?

Are you intuitive?

Can you sit for hours every day and read the market trends?

Can you network with other stock traders and leverage their market expertise?

Do you need to hire a consultant or can you do all by yourself?

These are some key questions regarding your personality that you must answer before outlining your stock trading plans and strategies.

Do not copy other stock traders. Realize your own strength and comfort, and then play along accordingly. You’re more likely to win on your own unique strength vs. trying to become like someone else.