Types of Traders at Forex Trading
In forex trading, there are several types of forex traders according to their respective forex trading styles. In this paper we will discuss the types of forex traders that might be suitable for you.
1. Forex Scalper
The meaning of the word Scalper refers to the style of scalping forex trading. Scalper also means Skip Flea.
This trading style is very active, but only trying to get a small profit. Scalper traders only store positions in seconds or minutes and a maximum of 1 hour. Although small, but because it is done in high frequency, and in large numbers, the total profits are also quite large. The motto scalper is gradually increasing profits.
2. Day trader
This trading style takes advantage of forex price fluctuations in the daily range. Usually traders open several positions in a day. Similar to a scalper but the time horizon is longer. The range is between a few minutes and several hours per trade. Open and close positions on the same day.
3. Swing forex traders
This trading style tries to take advantage of price fluctuations over a longer period. The time horizon ranges from a few days to several weeks per trade.
4. Position of the forex trader
This trading style uses a very long time horizon. He can open positions in monthly to yearly. Usually referred to as an investor or long term trader. They rarely open positions but once opened their target positions they reach hundreds or even thousands of pips.
As seen in the previous article table, people who aim to get regular income and have more free time are suitable to be short-term forex traders. Otherwise, it is recommended to use a longer time frame.
People who tend to be more willing to take risks are very suitable to become short-term traders and more open positions. But being a short-term trader also has a higher level of stress, because he uses his time to continuously open positions.
Suggestion if you only have a small amount of funds for trading, use a longer time frame, because if we play in a small time frame, our capital might run out quickly due to high price fluctuations in the time frame. Do it in a longer time frame. If you are already proficient and your intuition is sharp, then reduce the time frame you are currently using.