I was just thinking about a start in trading. I don't mean the start as in 'What is Forex?
What I mean is when you have found what Forex is and you want to become a professional...at least in your own mind.
It's not that difficult. We can categorize all traders in to these 3 groups:
1- Manual traders
2-Mixed machine and manual traders
3-Automated traders
Excluding copy traders because they just mirror some probably relative portion of each category.
A trader does not have to firmly belong to any particular group on any kind of duration. It's just a fluid and interchangeable division that helps a trader decide where they mostly hang out at. Are you the type that trades only manually? You would never touch an EA? Then yes you are a manual trader. If you once tried EA's and gave them up and now you manual trade only, then you are a manual trader still. Maybe with the addition of your technical experience.
Obviously if you make some manual trades and have EAs as your assistant, then you belong to category 2.
If you have found a plug n play EA and find it far more superior to others then you are in category 3. This is really I think would be the penthouse. Images come to mind of exotic sunsets by the beach and reaching over to enjoy an iced drink in a fancy glass while you are making money on Forex AUTOMATICALLY....and then BOOM you wake up!
Also, there are many other connections in the category like; Someone was a manual trader who started using EA's and basically managed them to make them work by constantly messaging and fiddling them to make them cough up an edge. Yes? Who is doing that? Or more like who is not?
This identifying yourself method may help you figure out where you are in a trader's mindset and it also might help you find where you want to be heading in your endeavor as a trader. I'm not going to go too deep as to why identifying your path maybe helpful to you. It's just good to know.
What I mean is when you have found what Forex is and you want to become a professional...at least in your own mind.
It's not that difficult. We can categorize all traders in to these 3 groups:
1- Manual traders
2-Mixed machine and manual traders
3-Automated traders
Excluding copy traders because they just mirror some probably relative portion of each category.
A trader does not have to firmly belong to any particular group on any kind of duration. It's just a fluid and interchangeable division that helps a trader decide where they mostly hang out at. Are you the type that trades only manually? You would never touch an EA? Then yes you are a manual trader. If you once tried EA's and gave them up and now you manual trade only, then you are a manual trader still. Maybe with the addition of your technical experience.
Obviously if you make some manual trades and have EAs as your assistant, then you belong to category 2.
If you have found a plug n play EA and find it far more superior to others then you are in category 3. This is really I think would be the penthouse. Images come to mind of exotic sunsets by the beach and reaching over to enjoy an iced drink in a fancy glass while you are making money on Forex AUTOMATICALLY....and then BOOM you wake up!
Also, there are many other connections in the category like; Someone was a manual trader who started using EA's and basically managed them to make them work by constantly messaging and fiddling them to make them cough up an edge. Yes? Who is doing that? Or more like who is not?
This identifying yourself method may help you figure out where you are in a trader's mindset and it also might help you find where you want to be heading in your endeavor as a trader. I'm not going to go too deep as to why identifying your path maybe helpful to you. It's just good to know.
