Whether it’s in sports, career, or forex trading, the first step in discovering your niche is to always do a self-critical assessment.
Think about what you can be best at. Ask yourself: What do I excel in? What are my weaknesses? What do I enjoy doing?
As a trader, you can ask yourself, where can I be most profitable?
Keep in mind that the ideal trading niche is one the fits your personality and your abilities.
One great way to get to know yourself better and find your trading niche is by taking personality quizzes. And no, I’m not talking about quizzes like “What’s your spirit animal?” or “Which Bridgerton character are you?”
I’m referring to those quizzes created to match your personality with trading methods or risk management strategies that could work best for you.
Lucky for you, we here at Kakiforex.com decided to put together a set of personality quizzes to help you find your corner in the sky. Check ’em out:
Which trading style is best for you?
If your personality doesn’t match your style of trading, you could wind up hurting your account AND your ego. This quiz can help you find out whether you are better off as a scalper, a day trader, a swing trader, or a position trader.
Which currencies should you trade?
Each set of currency pairs has its own behavioral tendencies that set it apart from the others. It is important to match your personality with the behaviors of the pairs you trade.
What is your level of trading experience?
Are you a noob struggling to make sense of all the seemingly complicated trading concepts? Or are you an expert trader searching for bigger challenges?
This quiz that will help you classify your trading experience and match it with exactly what you’re looking for.
As a bonus at the end of this quiz, we also have some suggested reads for all the total newbies, guns-a-blazin’ traders, middle of the road traders, and know-it-alls out there!
Should you be a discretionary or mechanical trader?
Some forex traders live and die by technical indicators while others couldn’t care less about them. Some rely heavily on their own fundamental or technical analysis while some like to let robots do the thinking.
This test is designed to help you determine whether your personality suits discretionary, hybrid or mechanical (automated) trading.
What kind of mechanical system suits your personality?
Some systems, called trend-following systems, do a better job at catching strong directional moves, while others, known as mean reversion systems, are better for spotting probable currency pair reversal points.
This quiz can help you determine which kind of mechanical system best suits your personality, so that you can run your forex trading system without falling flat on your face.
What is your attitude towards risk?
More often than not, your attitude towards risk is crucial to determining the success of your forex trading endeavor.
This quiz could help you find out which trading style is best for you, what kind of system you should use, appropriate trade management techniques, or how you can improve your trading in general.
What kind of stop suits your trading style?
We can’t stress enough how important proper risk management is to succeed in forex trading, and stop losses are a great way to prevent losing capital.
But out of the kinds of stop losses, which one do you think suits your currency trading personality best? This test can help you find out!
At the end of each quiz, we’ve also included a set of pages to visit and suggested readings tailor-fit for your results.
Of course, it’s still important to take the results with a grain of salt. The results you get are just recommendations based on your answers and are meant to get you onto the right path.
That said you shouldn’t completely box yourself to your results — these recommendations are just the beginning and as you get better, keep an open mind to all new experiences and realities to help you evolve and grow your forex trading abilities.
Play around with these quizzes and see if you can learn something new about yourself!
