Forex Trader Style
Trader can we make 3 groups based on the way and time of trading. That is trader scalping, intraday, and swing. The trader in question is an individual trader or financial institution that trades to obtain profit, and not for the benefit of international trade transactions.
1. Scalping Trader
Traders like this implement a scalping method, which is to do a lot of orders, but the pips target is a little between 8-20 pips. Usually this trader uses a lot of time in front of the computer to monitor the movement of currency values. These traders are quite strict in managing margins, usually they use Stop Loss because they don’t want their losses to be much.
2. Intraday Trader
Intraday traders are trades directed at earning a profit in one day. This type of trader spends a lot of time in front of a computer but does not have to monitor currency price movements at any time. Their target pips are greater than traders scalping, usually between 20-80 pips. But the order frequency is less than the trader scalping.
3. Trader Swing
Swing trading is a style of trading that tries to capture profits in the currency market within one to four days. Swing traders use technical analysis to select currencies with short-term momentum prices. These traders are not interested in fundamental values, but rather on price trends and patterns.