This video shows you the main forex trading styles you can choose from and outlines the personal qualities you’ll need to be successful in each style.
There are 4 main categories when it comes to forex trading styles – each is based on how long you hold your trades for:
– Scalpers
– Day Traders
– Swing Traders
– Position Traders
We discuss each of these ‘types of forex traders’, showing you the attributes you need to be successful in each.
It’s important to think about your own personal qualities and the amount of time you can dedicate to trading forex, when choosing your own trading style.
Qualities such as patience, risk tolerance and confidence will determine which trading style you’re best suited to – but remember, you can always test out different trading styles and mix and match to find your own unique style.
This is the second video in a series which teaches you the fundamentals of forex and gives you a solid knowledge foundation about the world of foreign exchange trading.
If you’re interested in trading forex you can head over to the Blueberry Markets website to open you own demo account or live account today: http://bit.ly/TradeTheBlueberryWay Video Rating: / 5
There are quite a few types of traders out there, so this video has one purpose and one purpose only: making it clear that being a good trader is all a matter of figuring out what works best for you.
It doesn’t matter whether you’re a scalper, day trader, swing trader, position trader or anything else, this comparison hopefully managed to explain that you’re bound to find one way or another to leverage your strengths.
Do you want to quickly get in and out of trades? Then perhaps scalping or day trading represent the best choice for you.
Do you prefer holding on to positions for a longer period of time? Then maybe it would be a good idea to try swing trading or position trading on for size.
Whatever your final choice may be, good luck and please don’t forget to always keep the risks associated with trading in mind!
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Interested in reading a good book?
My first book, Wealth Management 2.0 (through which I do my best to help people manage their wealth properly, whether we’re talking about someone who has a huge amount of money at his disposal or someone who is still living paycheck to paycheck), can be bought using the links below:
My second book, the Wall Street Journal and USA Today bestseller The Age of Anomaly (through which I help people prepare for financial calamities and become more financially resilient in general), can be bought using the links below.
https://ro.linkedin.com/in/andrei-polgar-9a11a561 Video Rating: / 5
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There’s no clear line between what counts as trading and what counts as investing, but the two are nonetheless very different practices, and most investors are best served avoiding the former. Why? We answer that question in today’s video.
DISCLAIMER:
This channel is for education purposes only and is not affiliated with any financial institution. Richard Coffin is not registered to provide investment advice and as such does not provide recommendations on The Plain Bagel – those looking for investment advice should seek out a registered professional. Richard is not responsible for investment actions taken by viewers. Video Rating: / 5
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