What is Discretionary trading in Forex Trading?

Discretionary trading is a kind of trading technique which uses all kinds of trading strategies to make a buying and selling decision. The list of trading techniques used by discretionary trading includes mathematical formulas, fundamental analysis, price action patterns, and technical analysis. This kind of trading relies on  well developed trading processes and framework of the fundamentals and technicals to carry out a decision. Therefore we can say that discretionary traders are Jack of a trades. Moreover, they also have vet good intuition about the future market trends which is developed through years of market experience. In addition, their experience helps them to be more  realistic and flexible with their  trading rules which helps them to adjust according to the market changes.However, we should remember one thing that discretionary trading style can be susceptible to the strong emotional effects of managing financial risk. In addition, this trading style is more dependent on time frame as it requires more attention to the market as compared to mechanical or automated trading methods.