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Investor, Scalper and Medium Trader
Which one are You?
Hi Traders,
One of the single most important consideration when choosing a trading strategy or timeframe to trade is to ensure it’s a style that suits your personality and lifestyle.
🕛 You have traders who take long-term positions, which can last from days to several weeks. We referred to them as Position traders. Long term trading is more of the buy and holds type strategy. This style of trading is ideally suited to people who want to trade forex but maybe have a full-time job so don't have the time to sit in front of a computer and monitor their positions all day.
All you need to do is wait for the right set-up to occur, enter your position and watch it unfold. Each position can last days, weeks or even months, but at least you only have to look in at the end of each day to monitor your position.
The advantages of long term trading:
Is that you aren’t required to find new opportunities every day.
You monitor the Higher Time Frame Charts
You are easily relaxed.
You don't need to "babysit" your trades.
Less attention to the trade as it develops.
🕑 The forex markets run all day, enabling trades at one’s convenience, which is very advantageous to short-term traders who tend to take positions over short durations which is known as Scalping. Scalping is a trading style that specializes in profiting off small price changes, generally after a trade is executed and becomes profitable.
Advantages of short term trading:
You can do it with small capital.
You do not have to tie up your funds for long periods.
You can trade on thousands of opportunities when currency rates change with high volatility.
Exciting in times.
Quick in and out trading structure.
NOTE - This style is much more advanced and NOT recommended to complete beginners!
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🕕 Then, we have the guys who are in the medium trading which is commonly known as swing trading. Swing trading is a style of trading that try to capture gains in any financial instrument over a period of a few days. Swing traders primarily use technical analysis to look for trading opportunities. It is ideal for those who can’t monitor their charts throughout the day but can dedicate a couple of hours analyzing the market every night.
Advantages of medium-term trading:
Can do analysis over the weekend, and will only need to look at the charts once a day.
Are willing to take fewer trades but more careful to make sure each trades are very good setups
🎯 It doesn’t matter which trading style you preferred, always follow these guidelines to ensure a good trading career:
Not trading is also trading
Accept Loss \ cut loss when market shows signs against you
Be disciplined enough to stick to your trading plan
Be patience and never force a trade. Wait for your setup!
Trade a fact - NOT a rumor or expectations!
Never take revenge on the market
Have the confidence to take risks in the market.
Thank you as always for watching my video. If you enjoyed it please hit the like button and leave your feedback in the comments. You can also share with your family and friends to increase their knowledge as well.
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Yours to your success,
Vladimir Ribakov
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