ForexSecret123 (21)

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Different types of forex traders

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There are three types of Forex Trader
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1. The Day Trader

• A day trader will, for a lack of a better
  definition, trade for the day. These are market
  participants that will usually avoid holding
  anything after the session close and will trade
  in a high-volume fashion.
• On a typical day, this short-term trader will
  generally aim for a quick turnover rate on one or
  more trades, anywhere from 10- to 100-times the
  normal transaction size. This is in order to
  capture more profit from a rather small swing.

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2. Swing Trader

• Taking advantage of a longer time frame, the
  swing trader will sometimes hold positions for a
  couple of hours - maybe even days or longer - in
  order to call a turn in the market. Unlike a day
  trader, the swing trader is looking to profit
  from an entry into the market, hoping the change
  in direction will help his or her position. In
  this respect, timing is more important in a swing
  trader's strategy compared to a day trader.
  However, both traders share the same preference
  for technical over fundamental analysis.

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3. The Position Trader

• Usually the longest time frame of the three, the
  position trader differs mainly in his or her
  perspective of the market. Instead of monitoring
  short-term market movements like the day and
  swing style, these traders tend to look at a
  longer term plan. Position strategies span days,
  weeks, months or even years. As a result, traders
  will look at technical formations but will more
  than likely adhere strictly to longer term
  fundamental models and opportunities..

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