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Several Types Of Traders You Should Know

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 Several Types Of Traders You Should Know


In forex, There are 4 types of traders that we should know :
1. Scalper
2. Daily Trader
3. Swing Trader
4. Position Trader

Then what do the 4 types of traders mean?

1. Scalper
The scalper can make a profit from every price movement. A typical trading style is a large number of transactions with a profit or loss of only a few points. Scalpers usually work at low time frames like M1 , M5 , M15 and M30. They do not use up more than a half hour time frame. Aggressive scalpers can enter the market with a large volume of contracts. Scalper can't trading with big pips.

2. Daily Trader
Dailytrader make transactions exclusively during the day. All trades are open, closed before nightfall. Day traders in particular carefully monitor possible risks and all transactions carried out by these market participants take place in the range from a few minutes to several hours. Day traders usually use timeframe M15 , M30 , H1 and H4. Dailytrader is very influential on the news so most daily traders avoid red news.

3. Swing Trader
Swingtrader assumes that trades will be open from several days to several weeks. Their main task is to use a medium-term perspective, which will allow them to gain stable profits. The Swing Trader relies mainly on technical analysis methods, trying to find entry points that will be located near the support levels. Swingtrader usually use timeframe H1 , H4 , D1 and W1 for analysis. Swingtrader don't think about red news.

4. Position Trader
These traders take advantage of global trends. To identify them, Positiontrader pays attention to the fundamental factors that underlie the trading approach. Usually, W-1 and sometimes larger time frames are used as time intervals for analysis. For Trader Positioners, it is normal to hold positions for half a year. When analyzing the situation, they are guided by interest rate measures and the main macroeconomic indicators of the countries whose currencies they are trading in. Positiontrader become a very long trading in 1 pair.

The type of trading depends on what you want to achieve and your time. If you are someone who is very busy trading then you can try Swing Trader and Position Trader.

Here are some types of trading that you should know before joining forex trading.
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