How to determine the right moment to enter the market. And the duration of holding a position will determine the type of a trader. For many years in his career as a trader. Sam Seiden has been a day trader, swing trader, and long-term trader. To get more information about forex please click fxtrade777
Although the trading strategy does not change. How to determine the right moment to enter the market and the length of holding position changed with time and trading experience. He also observes successful traders as both daily traders, swing traders and long-term traders. Here Various kinds and types of traders based on trading style
Scalper is a name for traders who embrace scalping. Scalping comes from English with the basic word scalp which means a small jump. In accordance with the meaning, traders who use this method are happier to make small jumps to take advantage that tends to be small in the number of large transactions. The targeted profit scalper is generally between 10 – 15 pips each doing a transaction. for more detailed information click tradesprime.
Intraday or Day Trader
This type is a term for those who open and closed positions on the same day or also called daily trader. Although it is said to open and close positions on the same day, day traders actually hold back the movement for days until the target and expectations are achieved. Typically, day traders have a profit target of 50-100 pips per transaction, forcing them to wait for hours or even days for a predetermined target to be achieved. However, not a few day traders who set the target exceeds the 100 pips in each transaction.
Swinger or Long-Term Trader
The last one is swinger / long term trader (long-term trader). In accordance with the meaning, this type of trader is usually an open position for the long-term target. They can keep their transactions going for weeks or even months. In line with the target, swinger must also be accompanied by a margin that is big enough bigger than that owned day trader and scalper to withstand price movements if at any time there is a loss. The specified target swinger can reach the range of 300 pips upwards every time the transaction.