Thread: What kind of Trade Are you?

People are trading in forex by following different forex strategies. But what kind of trader they really are? So, today we will know how many types of forex trading exists in the world. Here we go--

There are four main types of trading styles:

• The Scalper
• The Day Trader
• The Swing Trader
• The Position Trader

Scalpers hold onto for a few seconds to a few minutes at the most. Their main objective is to grab very small amounts of pips as many times as they can throughout the busiest times of the day.

Day traders usually pick a side at the beginning of the day, acting on their bias, and then finishing the day with either a profit or a loss. These kinds of traders do not hold their trades overnight.

Swing traders are for those people that like to hold on to trades for several days to several weeks at a time. These types of traders can’t monitor their charts throughout the day so they dedicate a couple of hours analyzing the market every night to make sound trading decisions.

Position traders are those that have trades that last for several weeks, months, or even years. These traders know that fundamental themes will be the predominant factor when analyzing the markets and therefore make their trading decisions based on them.

But you have to choose which one really suits you. But do not forget about forex analysts. I am really obsessed with one which is really suitable for me called Pipshunt. It is really reliable.

Thank you!

New traders are easily giving up trading after losing a couple of trade. Traders should never give up. This mainly means closing your ears when the surroundings try to take you down. The pressure of losing money is one of the reasons to quit. So, traders should not trade with money that they can't afford to lose. I am trading with Forex4you, and I started trading with only $50 with a micro account.

Choosing a good broker is not an easy task in this market. There are so many scam or fake brokers in the forex market. If you are new in this market, you should choose that kind of broker who can teach you all the basics of forex like low spreads, high leverage and many more things.

I am trading with TP Global FX. I choose them because they give me low spreads which is 0.01 pips. Their leverage is higher than many other brokers in the market. You can also try their demo account to know about their trading style. They have 56 pairs of FX. Overall, I like them for their all facilities and easy trading method.

The selection of the existing broker must be able to be considered carefully, this is done so that traders can be more leverage in carrying out trading activities while on a real account with Tickmill.

Forex is not an easier business platform. Only knowledgeable traders can earn more profits. There are various ways to trade. Honestly telling I just follow my broker's strategy. Whatever, traders should practice more and make a business strategy and they also choose a reliable broker like FreshForex which provides the best business tips and also gives higher leverages, lower margin levels, instantly deposits bonuses and no extra charges.

The selection of existing brokers must indeed be considered, especially the use of broker regulations. Safe regulations will be able to provide maximum trading security and convenience as provided by Tickmill.

The common things a trader must needed to do Forex trading properly are – acquiring good trading knowledge, working hard, perseverance and keep patience. These things are must to be successful in this retail Forex market. I am working with the reliable broker Tpglobalfx who help in me starting to learning till earning good amount of money comfortably. This is a trusted Forex broker for any types of Forex traders in this market.

I am mostly a day trader. Sometimes I do scalping as well. But mostly intraday trading is my forte. According to my trading system, one of the most important elements is spread and another is fast execution. Luckily I choose Eurotrader who provides me very tight spread on major pairs and also has a very fast execution system. Another thing I like about them most is their deposit and withdrawal system.

the existing trading system must be able to be considered properly, this is done so that traders can become better and can be maximized in getting the security and comfort of trading together with Tickmill.