Types of Forex traders: which one are you?
Each person is unique, and his identity is the key to real success. This applies to any aspect of life, including trading in the Forex market. Each trader has his own trading methods that determine his position in the market. Despite the variety of trading strategies and methods, trading styles can be classified according to several basic criteria. Do you know what type of trader you are? Let's look at the types of traders in more detail with Forex.ee!
What type of trader are you in terms of decision making?
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Intuitive trader. This trader does not take into account the opinions of others and relies not on his own knowledge and experience, but on the “sixth sense” and intuition. An inner instinct tells him when to enter a trade, and someone else's opinion does not matter to him.
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Trader analyst. The market entry point is always supported by technical and fundamental analysis tools. The trader relies solely on his knowledge and experience and analyzes market events using special methods.
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Instinct-driven trader. Decisions are most often made in a fit of emotion. Such traders can “jump into a moving train” after seeing any fluctuations on the chart.
Tell us what type of trading you prefer, and we’ll tell you what kind of trader you are.
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Scalping. This strategy involves intraday operations in which the position is closed after reaching a profit of several points. Another feature is trading in liquid instruments. But this does not mean that scalpers spend only a few minutes a day to trade. In search of profitable deals, they can be at the computer for days watching the market. Their strength is the ability to think analytically and make decisions quickly.
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Day trading. This trader is on the market throughout the day and does not leave positions open after the session is closed. Often day traders tend to earn more profit from small fluctuations using a small chart timeframe from 1 to 15 minutes. Day traders make a profit on price fluctuations in the near future that he can predict. Preferred instruments: Euro, dollar, British pound and Japanese yen.
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Swing trading. These are traders who trade on price fluctuations. They open several transactions within a few days—the transaction closes when it becomes profitable and remains safe in case of price movements.
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Position trading. This is a long-term strategy: trades remain open for several weeks, possibly months or even a year. Time is the main significant advantage of the trader. There is no need to keep track of charts and news every minute. Position traders stay focused, have patience and are not prone to impulsive decisions.
The choice of strategy is an individual matter of the trader.
Forex.ee does its best to make trading convenient for all types of traders and for all strategies! And we can prove it, see for yourself:
• No trading restrictions. Forex.ee sets no restrictions on: high-frequency trading, the time of holding an open position, hedging and/or locking, sending positions to the market, the maximum number of traded lots, minimum Stop Loss and Take Profit levels, the volume of pending orders, the use of automated Forex systems, robots or trading advisors, the number of open orders per unit time.
• Instantaneous execution speed of 200-300 ms.
• One of the lowest spreads in the Forex industry. Forex.ee broker is in the top 5 ECN/DMA brokers with the narrowest spreads and lowest commissions in the Forex market.
• The minimum deposit is only 50 USD; the leverage is up to 1:500.
• Slippage protection mechanism in the MT4 terminal allows you to make a profit and keep the deposit in case of a sharp change in price.
Forex.ee - comfortable conditions for all types of traders!
