Every forex trader is unique and must find a style that suits their trading either scalper, intrader or swinger

Determine the type or style of your trading as a trader forex, It’s generally have four types of popular trading style that are making money.

4 TYPES OF PROFITABLE FOREX TRADER

SCALP TRADER (SCALPER)

Timeframe: TF1M, TF5M, TF15M
Technical Trading: Making an entry in the event of a high frequency signal entry (positions opened and closed after 5-10min).

Stop Loss: 5-25 pips (Approx. Depending on TF in use)

Take Profit: 5-25 pips (Approx. Depending on TF in use)
1. Daily trading strategy most popular.
2. Find a broker that offers low spreads, eg 0.0 to 1.5
3. Good idea to check with brokers offer rebates because you can get back some commission of the trade.
4. The technique requires a lot of time on the screen and discipline.

DAY TRADER (INTRADER)

Timeframe: TF15M, TF30M, TF1H
Entry upon the occurrence entry signal. Profit or loss, the Entry position placed in the morning will be closed in the same day in the evening.

Stop Loss: 30-80 pips (Approx. Depending on TF in use)

Take Profit: 30-80 pips (Approx. Depending on TF in use)
1. The position is open and closed in one day, no overnight. If the position is still open until midnight, then the position will be closed.
2. Always use SL and TP, discipline each open position.
3. Discipline using margin. Do not use more than 10% of the overall margin is used.
4. Patience. Do not sliding SL and TP predetermined except for trailing or secure the profit.
Note: Many news broadcasts have impressions but best newscast for “Intraday” is as follows:
– Non-farm payrolls (Average USD pip movement of 100-150 pips)
– Central bank announcements (especially interest rate decisions)
– Retail sales (Average 80 pips)
– US Trade balance (Average 70 pips)
– US CPI (Average 70 pips)
The key with news trading is not following market sentiment; you need to work out what the market menjangkakan and if necessary take a position against the crowd – if kebarangkalian is impartial to you. For example, if the market price for the 70% the possibility that the Fed will raise the level of benefits and you make it into only one chance of 25%, then the opposing trade market offers immense risk: reward.
news trading may be beneficial but generally it requires quick thinking and a little inventory. Whatever, it was always best to mencubanya temporarily on trading simulator.

SWING TRADER (SWINGER)

Timeframe: Daily, Weekly and Monthly
Technical Trading: entry upon the occurrence entry signal. Normally, it will close the position after 1 -3 days.
Stop Loss: 80-150 pips (Approx. Depending on TF in use)
Take Profit: 80-150 pips (Approx. Depending on TF in use)

POSITION TRADER

Timeframe: Daily, Weekly and Monthly
Technical Trading: entry upon the occurrence entry signal. Normally, it will close the position after weeks.
Stop Loss: 100-400 pips (Approx. Depending on TF in use)
Take Profit: 100-400 pips (Approx. Depending on TF in use)