If you’ve ever traded Forex before, but aren’t too sure how you would describe your style of trading, this infographic should help you to pinpoint what category you fall into. There are five different trader types, and it’s likely that you may share some characteristics with at least one of them.
Day traders will look for short-term gains, while swing traders seek wild movements in markets in order to make their move. At the other end of the scale, long-term traders will play the waiting game in order to make potentially huge profits if their trades go as hoped.
If analysis and caution are present when you’re Forex Trading, you could be a technical or fundamental trader. Technical traders rely heavily on data before they begin to trade. Fundamental traders tend to trade forex as simply as is humanly possible.
When trading forex, you should pick a currency pair, start off small to get a feel for it and always check for any price movements. Doing all that could ensure that you have a decent start to your trading activity.
Vijayraj Reddy
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