For Forex Trading, Which trader types is best

Luke_D

Recruit
Messages
5
I personally like scalping. As for trader community as a whole, i really don't think there can be a particular type which can be favored. it depends on what is the market condition.
 

sebking1986

Recruit
Messages
202
Depends on the speed you can think and execute trades and tolerance to risk. Also how patient you are. I prefer to swing trade as it moves slower than say scalping but I have to wait longer for setups
 

BitcoinBabe

Recruit
Messages
54
Depends on the speed you can think and execute trades and tolerance to risk. Also how patient you are. I prefer to swing trade as it moves slower than say scalping but I have to wait longer for setups
Swing trading is much safer don't have the stomach for scalping!
 

fxoday

Master Sergeant
Messages
303
Swing trading is much safer don't have the stomach for scalping!
Scalping need more concentration and focus on the chart especially if manual trading, if trader tendencies to impatience, could leading them being an emotion, this not good for trading if already in emotion pressure, swing trading long term plan, more enjoy although leaving the chart a day
 

holycow

Master Sergeant
Messages
294
In my opinion, none of us can answer to this question because this totally depends on our own personality type so what suits me the best does not works for others. So instead of trolling answer from others it will be good if we sit and ask ourselves what kind of personality do we have..

For instance, if you are quick, responsive and reactive to even minor changes around you then you can be a scalper or swing trader. While if it requires you a long time to change your mind set then scalping can't work for you so better think about taking longer term perspective instead of short term.
 
I

Irrelevant

Guest
The best trading style is the one you can make money with.

On one hand scalping can be profitable due to tryinf to capture so much movement, on the other hand it also means a lot of commissions/spreads per trade and many more opportunities for losing trades. You increase how much trades you take you also increase losses per trade accordigly.

Swing trader (daily-weekly positions even up to a month holding, short-mid term depending on market condition) has fewer trades executed, less fees and commissions much larger take profits overall per trade.

If i use very simplistic language. A scalper will aim for $5 here $5 there 100 times a day. Total profit potential $500. A swing trader may aim for $500 in 1 trade though. I think you can be more consistent as a swing trader.

For a beginner its probably better to start swing trading so you can learn to read the markets, you have time to think etc and it still is one of the most profitable methods of trading forex. As you get experienced and you find you want to look at charts all day and you know what you are doing, then go to intra-day trading and finally scalping as the extreme.
 

divina

Recruit
Messages
4
You can go for long term trading as a beginner. Definitely try executing various trades on demo to test your strategy first. The idea behind this approach is to make fewer transactions that produce larger individual gains. But the opportunities are limited for this type of trader and thus requires knowledge.
 

John perry

Corporal
Messages
135
Understanding and reflection on action of the daily market moves and the drivers behind them will help you trade every thing is important and not only 1 thing will be better then others
 

Akimuro

Private
Messages
25
You can't tell which type of trading is best for you. It all depends on what kind of person you are. It sounds strange at first, but there are even tests that can show which type of trading is best for you. If you're stress-resistant, scalping is likely to be good for you, but it takes a lot of time and attention. Perhaps you will find ""inside the day"" trading to be a time consuming and stressful type of exchange trading. The difference from scalping is the number of transactions: no more than 10 during a trading session. You need to decide for yourself what is more suitable for you and the main thing is to practice, because only in practice you will be able to know what kind of trader you are
 
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