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ForexLive Trader Survey - Part 2: What type of trader are you?

What is important to you? Where do you need your help?

Yesterday, I started to review the data from 2016 ForexLive survey. You can find that post here if you missed it.

Today, I will proceed with other questions.

QUESTION: Which trading discipline do you rely on more in your trading?

The choices were Technical Analysis, Fundamental Analysis, or Split between the two.

On a one vs. the other, there are more pure traders who rely on technicals vs fundamentals. Only 8.66% said they are pure fundamental traders, while 38.54% were pure technical traders. The largest bucket, however, belongs to traders who are hybrids. They use gas sometimes (i.e. fundamentals) and battery/electric (i.e. technicals) other times.

For me personally, if there is trade, there is a technical reason, but a fundamental bias can influence which technical side is the focus.

Feel free to share your thoughts of course.

In the next question, the trading idea got more specific.

QUESTION: Are you a systematic trader (i.e., use expert advisors, 3rd party black box, computer driven/rules based) or a discretionary/method trader (i.e., you press buy/sell or manually enter orders)?

The large percentage of respondents (92.21%) said that they push the button. There are only 7.79% who let the computer/black box do the trading for them. With all the talk of "algo tradng" - a hip way of saying it is a black box/systematic way of trading, perhaps I thought the number might be a little higher. I am not an advocate of black box trading, but I do advocate a method to the madness that should be disciplined. My feeling is that those that have a pure systematic way of trading, tinker with the system/don't trust the system and therefore defeat the purpose of "taking emotion out of trading" and/or "let the machine do it all 24 hours a day/5 days a week".

Those that systematically trade, feel free to comment.

UP NEXT...

How would you rate the importance of each of the following in your trading currently: Technical analysis, Fundamental Analysis, Psychology of trading, Risk Management and Money Management (scale of 1-5)

and

What areas of your trading do you want to improve (Technical analysis, Fundame n tal analysis, Psychology of trading, Risk management, and Money Management (you can check more than one box).

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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