Tag: types of traders

There are two types of traders… Which one are you?

There are different ways in which we can classify traders:

By the timeframe they use to trade: there are long term traders who use the weekly or daily charts to open their trades, swing traders who use the 1H and 4H (some even use the daily chart) to look for trade opportunities, there are also day traders who use from the 5M to the 1H charts, and very short term traders or scalpers, who use the 1M and 5M (some even use tick data).

By the way they trade:  Some traders like to trade based on fundamentals, other based on technical indicators, some others use forecasting tools such as Fibonacci or Elliot waves, others base their trades on price action, chart patterns, planetary cycles, some even use their pets :) to determine which currency pairs to trade.

But the one I like to use its much simpler: Disciplined and undisciplined traders.

Which one are you? Here are a few characteristics of each type of trader:

types of traders

Continue reading