Forex Trading Library

How Does Your Star Sign Affect Your Forex Trading?

0 3,301

For those of you familiar with trader psychology, you will know that there are different “trader types”. However, what you might not be familiar with is how different star signs can affect your trading type. Take a look at the summaries below and see how well suited your own star sign is to the world of financial markets trading.

Aries (March 21st – April 20th)
  • Independent
  • Courageous
  • Enjoy leading
  • Enjoy bringing excitement
  • Enthusiastic
  • Goal Orientated

Trading Implications

Enthusiasm and courage are fantastic qualities to have, however, in terms of trading, Aries need to be careful that they don’t start taking unplanned trades, especially as they enjoy bringing excitement. It could be difficult for Aries to stick to their trading plans so having a clearly regimented trading process is very important

Taurus (April 21st – May 21st)
  • Fighters
  • Stubborn
  • Strong work ethic

Trading implications

Taurus (whose sign is the bull) can clearly be very head-on, warrior type characters. In terms of trading, Taurus’s need to watch that they stick to their stop losses. Being stubborn can sometimes mean a refusal to accept losses and Taurus’s might be tempted to move their stops, believing that they are right and that the market will still turn around in their favour.

Gemini (May 22nd – June 21st)
  • Energetic
  • Direct
  • Enjoy activity

Trading Implications

Gemini’s are clearly very lively creatures and as such it is important that they adopt a trading style that will cater for their energy and keep them occupied. Short-term trading and scalping are likely the best options for a Gemini who would probably find it difficult to deal with the slower pace of higher time frame trading

Cancer (June 22nd – July 22nd)
  • Inconsistency
  • Adventure seeking
  • Unpredictable

Trading Implications

Because of the chaotic nature of this star sign, cancer’s need to be as regimented as possible with their trading and develop clear trading plans with well thought our rules and criteria. It will often be tempting for Cancer’s to take unplanned trades and switch trading styles and so it is important that they develop a system to help them identify when they are going off course. Backtesting and strategy testing will be worthwhile tasks for Cancer’s to help them develop confidence in their strategies and avoid switching approaches.

Leo (July 23rd – August 21st)
  • High self esteem
  • Very devoted
  • Generous
  • Hot tempered

Trading Implications

Confidence and devotion are two fantastic qualities when it comes to trading. Devotion is needed to spend the necessary time testing a strategy and developing a trading plan and confidence is needed to consistently execute that plan.  Leo’s need to be cautious, however, when it comes to taking losses as their high level of confidence as well as their hot temper could cause them to re-enter trades in the heat of the moment, leading to unnecessary extra losses.

Virgo (August 22nd – September 23rd)
  • Very mindful
  • Analytical and contemplative
  • Enjoy improvement

Trading Implications

Virgo’s will tend to enjoy back testing and strategy tweaking, they will also be very thorough in their market analysis. However, one weakness which Virgo’s might often suffer from is an inability to execute trades effectively. Their analytical nature can often lead to them over thinking trade setups causing them to miss out on opportunities. Virgo’s need to really work on sticking to their trading plans and taking trades as they setup. Once all of the analytical work has been done in developing their strategies and identifying setups, Virgo’s need to learn to let go and have the courage to take their trades.

Libra (September 24th – October 23rd)
  • Diplomatic
  • Ambitious
  • Hard working

Trading Implications

Libra’s are well suited to trading. Their diplomatic nature helps them to be objective in their analysis and avoid getting caught with one particular bias. Their ambition and hard working nature give them the drive and the tools to tackle the markets and be successful.  The only area where Libra’s need to be careful is making sure that their ambition doesn’t cloud their judgement. This is especially relevant when it comes to position sizing, where they might be tempted to trade too big, and also in terms of honouring their targets, where they might be tempted to hold trades longer for bigger profits.

Scorpio (October 24th – November22nd)
  • Very intense
  • Enquiring
  • Hard working
  • Loyal

Trading Implications

Scorpio’s are well suited to trading. Their enquiring nature makes them well-suited to strategy testing and market analysis and their work ethic and loyalty helps them stick to their trading plans and work hard to improve and develop their strategies.

Sagittarius (November 23rd – December 22nd)
  • Positive outlook
  • Vibrant
  • Reckless

Trading Implications

Sagittarius’s can make great traders however they need to be careful that their positivity and their recklessness don’t overlap. Sometimes, Sagittarius’s can be tempted to take positions outside of their trading plans because they have a strong “gut feel”.  It is hugely important for Sagittarius’s to have a system in place to identify when they are tempted to take un-planned trades so that they can work on sticking to their trading plans.

Capricorn (December 23rd – January 20th)
  • Ambitious
  • Active mind
  • Control seeking

Trading Implications

The ambitious nature of Capricorns as well as their active minds can make them well suited to trading as the potential to make money as well as the engaging nature of the markets can be hugely satisfying for them. However, Capricorns might struggle to deal with the seemingly random nature of the markets and will find it particularly difficult to deal with taking losses. Capricorns need to really work on their trader psychology to become comfortable with taking losses and understanding their place in a winning trading strategy.

Aquarius (January 21st – Februry 19th)
  • Independent
  • Opportunistic
  • Enjoy working on new ideas

Trading Implications

Aquarius’s can make great traders and their opportunistic nature means they typically do well with short term trading and scalping methods. However, Aquarius’s need to be careful that they don’t hop between different strategies as their enjoyment of working on new ideas can often lead them to constantly be seeking “the next new thing”.

Pisces (February 20th – March 20th)
  • Pisces
  • Sensitive
  • Reserved
  • Escapists

Trading Implications

Pisces might find that they struggle with trading, though that is not to say that they cannot work on their trading and achieve success. Their sensitive nature can make it hard for them to deal with losses, while their escapist tendencies mean that they might not always put in the work needed with back testing and will simply prefer to “wing it”. Pisces traders need to really work on honing and properly testing their strategies and developing their mind set to cope with losses and self doubt.

Star Signs of Some Famous Traders

Paul Tudor Jones – Libra

George Soros – Leo

Stanley Druckenmiller – Gemini

Bill Lipschutz – Capricorn

Leave A Reply

Your email address will not be published.