For Forex Trading, Which trader types is best

ulianacheck

Recruit
Messages
16
For beginner which trader type will be best? All those who have basic knowledge and want to minimize amount of loss what you think either use Day trader or any other.
Hard to answer that since we don't know what do you want to achieve and what kind of trading do you like - ea or manual. I would recommend a good Ea if you are beginner - it's need less knowledge that manual trading.
Risk risks and right goals will make you successful.
 

steveday76

Private, 1st Class
Messages
60
Depends what works for you and it may depend on your personality. Definitely use demo first though.
 

momo3HC

Master Sergeant
Messages
431
As for me, these days it is much more beneficial and profitable to be a long-term trader. Thus, you can spend about an hour on trading a day, and in a couple of months you can collect profits. It is not so time consuming and nervous as short-term trading, which can be very stressful and unprofitable. Thus, you don't need to watch the constantly changing market trends all the time and shake at every new trade. But it is up to you to decide which trading you are more interested in.
Good point. That`s one of mine too, to be long-term trader.
 

EuroTrader

Sergeant Major
Messages
1,045
I have seen so many strategies and method since I started in forex world. The best one is to use market structure along with support and resistance levels. You have to be patient for proper setup to be formed and then profit is all yours.
 

fxoday

Master Sergeant
Messages
252
Demo account is safe place to learn new in forex trading, indeed to practice in demo account and learn from experience sometimes makes boredom and want to jump in real account, but if surely want to make profit in real trading account, demo account giving us a lesson how to minimize the risk and when should to enter trading
 

sivemorten

NOT Sive Morton
Messages
2
Being a short-term trader, I am working on scalping through which I hold positions for time frames whether it is for a few seconds or for a few minutes. Working on Forex scalping, include frequently trading in the day, focusing on the small gains that could be done at the busiest times. But for scalping, you need to be an observant to keep tracking the rapid market changes.
 

fxoday

Master Sergeant
Messages
252
Short term trading or scalping indeed if already expert they can generate good total profit from many transactions target small pips, but for some trader, this way is only leading them to get in emotion, and might stressful trading, so knows what you are, if tend to high temperament person, long term trading is more comfortable.
 

fxoday

Master Sergeant
Messages
252
Grid trading is like the art trading style, but I am rarely to trade based on this, my preferable trading style is hedging pair or ring currency trading but sometimes combined with short term trading style as scalping if likely good volatility market.
 
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