Make sure you know the type of trading

There are many traders involved in the world of forex trading and their trading activities are carried out on a global scale. Even from that many traders, there are various types of traders who inhabit the forex market. Beginner traders are usually eager to try all kinds of strategies and are always changing the strategies used to reap profits and take advantage of market conditions.

The type of trading is closely related to the character of a forex trader. The character of each forex trader itself is also different from each other, which is why the types of trading are also different. Here are the types of trading that traders should know:

Scalper

Scalper is a term for traders who understand scalping. Traders who use this type like challenges, can react quickly to changes, and don't mind lingering in front of the monitor screen, so this trading method is suitable for traders. The main goal of the scalping method is to get as few pips as possible. So don't be surprised if you see a scalper who often leaves the market after getting just a few pips. In addition, a scalper must have time dedicated only to trading because this method requires high concentration to be successful.

Day Trader

Day trader is a term for traders who close and open positions on the same day or also often referred to as day traders. In addition to making daily transactions, daytraders often hold their movements for days until the target is reached. The basis of analysis used by daytraders is technical and fundamental analysis. These two indicators are highly considered in daytrader's decision making.

Swing Trader

This type of forex trader is a type of forex trader who opens and closes forex trading positions for a long time. This type of forex trader is very suitable for traders who are part time traders because trader time does not need to be spent staring at a computer screen to monitor currency price movements so that traders can do other activities. But to be able to do swing trading techniques, it is highly recommended that traders always be disciplined in carrying out the trading plan that the trader has made, including when implementing risk management.

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