What is your trading type?
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You Have To Do Know Who You Are First, And You Will Know Your Enemy "Know yourself first before you recognize the enemy."
The sentence above is intended so that we can recognize ourselves first before we really fight in the forex arena. Self-recognition is considered very important, because by knowing the character and personality of yourself, we can find the right and appropriate trading patterns so that we can be a support and profit-maker for our trading. There are several types of traders in forex. And, in general, the majority of traders are of three types: Swinger, Intraday Trader, Scalper.
Scalper is a Type of Scalping Trader, Scalping itself comes from English with the basic word scalp which means a small jump. In accordance with its meaning, adherents of this technique prefer to make small jumps or can be interpreted as taking small profit but in large (lot) or many (position) transactions. Scalper targeted benefits generally range from an average of 10-15 pips per transaction.
Type Scalper majority uses Timeframe (TF) Small, starting from the smallest M1, M5, up to H1 for execution. The use of a small TF (M1 and M5) is very not recommended for beginners because the volatility / price fluctuations that occur on TF are very high and fast so that it can be difficult to analyze prices. Scalpers are also required to have good mentality and patience because in practice they will rarely use Stop Loss (SL) so they require them to "take" longer time in front of the screen to monitor price movements. even if using Stop Loss (SL) can be ascertained sanat risk if the approaching Stop Loss, this monitoring aims so that the scalper can determine the next step of cutting loss (CL) if it turns out the price moves opposite and cutting profit (CP) if the price has reached the target determined.
Intraday is often equated with the term Day Trader, namely those who open and close their positions on the same day or commonly called daily traders. Even though it is said to open and close positions on the same day, Day Traders also often withstand movements for days until their targets and expectations are reached. Day traders have an average profit target of 50-100 pips per transaction thus forcing them to wait for hours or even days so that the predetermined target is reached. However, not a few Day Traders who set a target exceeding 100 pips each time a transaction.
While Timeframe which is commonly used by Intraday itself is M15 (per 15 minutes), H1 (per 1 Hour) even up to D1 (24 hours or daily / daily). They are used to analyzing movements on large timeframes such as H4 (per 4 hours) or D1 then executing on smaller timeframes, namely H1, M30 or M15.
Intra traders do not take long to continue in front of the screen, because in practice they will monitor their transactions very little. Compared to cut loss they prefer to anticipate losses by installing stop loss (SL). The designated SL is not arbitrary. A good day trader must adjust the SL level or their loss allocation with the money management (MM) that he adheres to.
The term Intraday is usually often used in the stock market (Stock Exchange), for example: a new intraday high means that the stock has broken the highest level of trading on that day. Intraday means within the day.
Swinger itself comes from English with the basic word Swing which means Swing. Swinger is more dominant The type is long-term trader. In accordance with its meaning, this type of trader usually opens positions for long-term targets. They can hold the transaction going for weeks or even months. In line with its targets, Swinger majority must also be supported by fairly large margins, greater than those of day traders and scalpers, which are to withstand price movements if losses occur at any time. The target set by Swinger can reach an average range of 300 pips above each transaction.
The way the swinger works is almost the same as a day trader; analyze movement by using a large Time Frame (TF) and execute it on a smaller TF. It's just that, Swinger is used to analyzing on larger scale TFs such as W1 (weekly / weekly) and MN (monthly / monthly). Generally, they analyze monthly / monthly Time Frame (TF MN) and execute on TF W1 (weekly / weekly) or H4 (per 4 hours). Swinger likes to use stop loss rather than cutting loss even without stop loss supported by fairly large margins. The main points that a swinger must possess are proficient in fundamental analysis. Why? Because long-term price movements are strongly influenced by fundamental factors.
As time goes by and your flight hours increase, of course you can automatically determine which type suits you.
The sentence above is intended so that we can recognize ourselves first before we really fight in the forex arena. Self-recognition is considered very important, because by knowing the character and personality of yourself, we can find the right and appropriate trading patterns so that we can be a support and profit-maker for our trading. There are several types of traders in forex. And, in general, the majority of traders are of three types: Swinger, Intraday Trader, Scalper.
Scalper
Scalper is a Type of Scalping Trader, Scalping itself comes from English with the basic word scalp which means a small jump. In accordance with its meaning, adherents of this technique prefer to make small jumps or can be interpreted as taking small profit but in large (lot) or many (position) transactions. Scalper targeted benefits generally range from an average of 10-15 pips per transaction.
Type Scalper majority uses Timeframe (TF) Small, starting from the smallest M1, M5, up to H1 for execution. The use of a small TF (M1 and M5) is very not recommended for beginners because the volatility / price fluctuations that occur on TF are very high and fast so that it can be difficult to analyze prices. Scalpers are also required to have good mentality and patience because in practice they will rarely use Stop Loss (SL) so they require them to "take" longer time in front of the screen to monitor price movements. even if using Stop Loss (SL) can be ascertained sanat risk if the approaching Stop Loss, this monitoring aims so that the scalper can determine the next step of cutting loss (CL) if it turns out the price moves opposite and cutting profit (CP) if the price has reached the target determined.
Intraday
Intraday is often equated with the term Day Trader, namely those who open and close their positions on the same day or commonly called daily traders. Even though it is said to open and close positions on the same day, Day Traders also often withstand movements for days until their targets and expectations are reached. Day traders have an average profit target of 50-100 pips per transaction thus forcing them to wait for hours or even days so that the predetermined target is reached. However, not a few Day Traders who set a target exceeding 100 pips each time a transaction.
While Timeframe which is commonly used by Intraday itself is M15 (per 15 minutes), H1 (per 1 Hour) even up to D1 (24 hours or daily / daily). They are used to analyzing movements on large timeframes such as H4 (per 4 hours) or D1 then executing on smaller timeframes, namely H1, M30 or M15.
Intra traders do not take long to continue in front of the screen, because in practice they will monitor their transactions very little. Compared to cut loss they prefer to anticipate losses by installing stop loss (SL). The designated SL is not arbitrary. A good day trader must adjust the SL level or their loss allocation with the money management (MM) that he adheres to.
The term Intraday is usually often used in the stock market (Stock Exchange), for example: a new intraday high means that the stock has broken the highest level of trading on that day. Intraday means within the day.
Swinger
Swinger itself comes from English with the basic word Swing which means Swing. Swinger is more dominant The type is long-term trader. In accordance with its meaning, this type of trader usually opens positions for long-term targets. They can hold the transaction going for weeks or even months. In line with its targets, Swinger majority must also be supported by fairly large margins, greater than those of day traders and scalpers, which are to withstand price movements if losses occur at any time. The target set by Swinger can reach an average range of 300 pips above each transaction.
The way the swinger works is almost the same as a day trader; analyze movement by using a large Time Frame (TF) and execute it on a smaller TF. It's just that, Swinger is used to analyzing on larger scale TFs such as W1 (weekly / weekly) and MN (monthly / monthly). Generally, they analyze monthly / monthly Time Frame (TF MN) and execute on TF W1 (weekly / weekly) or H4 (per 4 hours). Swinger likes to use stop loss rather than cutting loss even without stop loss supported by fairly large margins. The main points that a swinger must possess are proficient in fundamental analysis. Why? Because long-term price movements are strongly influenced by fundamental factors.
As time goes by and your flight hours increase, of course you can automatically determine which type suits you.
