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Abstract:If you've already forgotten what trading style you use, it's time to refresh your memory! Trading styles are divided into four categories:
If you've already forgotten what trading style you use, it's time to refresh your memory!
Trading styles are divided into four categories:
The Scalper is a person who makes money by exploiting
The Trader of the Day
Traders who trade in swings
The Trader Who Takes Positions
Scalpers typically hold on for a few seconds to a few minutes. Their primary goal is to capture as many little sums of pips as possible during the busiest moments of the day.
Day traders typically pick a side at the start of the day, act on their bias, and then either profit or lose at the end of the day. These traders do not keep their trades open overnight.
Swing traders are those who like to hold on to transactions for a few days to a few weeks at a time. These traders are unable to monitor their charts throughout the day, so they spend a few hours every night evaluating the market in order to make solid trading selections.
Position traders are people who trade for numerous weeks, months, or even years at a time. These traders understand that while studying the markets, basic themes will be the most important component, thus they make their trading selections accordingly.
Whatever style you choose, make certain it is a good fit for your personality.
Changing your trading style on a regular basis can get you into difficulty and blow your money.
That said, if you try scalping and find that it's too fast or tiring after a week, be willing to swap things around.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
These champions have one thing in common: they not only work their butts off, but they also enjoy what they do.
"Patience is the key to everything," American comic Arnold H. Glasgow once quipped. The chicken is gotten by hatching the egg rather than crushing it."
Ask any Wall Street quant (the highly nerdy math and physics PhDs who build complicated algorithmic trading techniques) why there isn't a "holy grail" indicator, approach, or system that generates revenues on a regular basis.
We've designed the School of WikiFX as simple and enjoyable as possible to help you learn and comprehend the fundamental tools and best practices used by forex traders all over the world, but keep in mind that a tool or strategy is only as good as the person who uses it.