#what trader

First you should decide what trader you want to be, a scalper, a swing trader or a position holder.

Write down what type of trading would suit you best or make you "feel calmest". Remember all trading is purely psychological...

If you need action you will need a scalping game plan (how many pips risk/stop loss and take profit). If taking many smaller losses in exchange for bigger profits go against your nature, then you may want to consider trend trading a.k.a. trend following.

This can be as simple as buying on a 15 day high and selling on a 15 day low for example. If you like to "keep your powder dry", you could gradually enter in and out of the market with the trend, such as buying/selling equal lots after a certain pip interval move which you will need to determine; When the trend turns you would start easing out of the current position and start building opposite positions. You could have a plan to step in 3-5 times in the same direction.

And please keep this in mind always: never over leverage! If you find yourself uncomfortable because of losses, then it would be best if you take a break for a while and forget as much as possible about trading. Get it out of your head, come back to analyzing what happened and make changes to your approach to trading the market if needed.

The worst thing you could do is trading more or with higher leverage in order to "catch up with previous losses". If you can't train yourself that trading is a relaxed and calm matter, then it's either not for you or you aren't ready for it. Trading as a nervous basket case is the fastest way to the poor house! The Las Vegas Strip is lined up with people who tried that, asking for a quarter...

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