Conclusion — which style should you choose?

None of these  trading styles offer an unblocked path to success, or a sure way to doom for the trader; the successful trader can choose any method he feels comfortable with. If he adheres to the basic principles of money management and risk control, education and experience, coupled with emotional discipline will be all he needs for a successful career. Most importantly, prudent risk management will ensure that even in the case of failure, the trader will suffer only as much as he deemed tolerable, and the loss can even be considered the fee for the lessons learned, and the enjoyment or excitement derived from participating in the dynamic markets of forex.

Trading styles are useful in showing the many diverse approaches to trading. In that sense, it’s likely that the beginning trader will eventually develop his own style in time, and there’s no reason to assume that such a style will be inferior to the ones we discussed above. Let’s repeat our mantra once more: No indicator, no style, no method, no forex robot or technique will offer the sure path to success in the markets. Success is only achievable through study and discipline. When choosing a method it’s most important that you give foremost consideration to your own character, experience and knowledge, instead of worrying about the particularities of the method itself. In any case, the generalizations we outlined above are only valid for educational purposes: There’s no such thing as a pure scalper or a pure day trader. As mentioned before, flexibility in adapting to the market while not giving up discipline in managing our assets and risk is one of the prerequisites of a successful trading experience.

Next: Technical Analysis