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Intradaytrading

3 Types of Traders: Which Are You?3 Types of Traders: Which Are you? There are many different approaches of trading the financial markets that has provoked countless methods and strategies to be created over the decades. One popular way to simplify & view this is to break it down into 3 types of traders which is categorised by two main factors which include the trading frequency & timeframes used by each one of the trading types. 1️⃣ Scalper The large majority of beginner traders end up starting out with this type of trading because of numerous reasons. But mainly, this is due to the fast pace that the market moves, presenting many trading opportunities and giving off the perception of an opportunity to get rich quick. Ironically, this trading style is then considered as one of the most easiest and successful ways of trading by beginner traders, while being stated by professional traders to be one of the most difficult. Scalpers often have dozens of trading positions open at a time during multiple trading sessions and need to be in front of the charts at all times. Therefore, paying huge commissions to their broker due to spreads also making this type of trading have a high cost to it. Not to mention the chaos in lower timeframe analysis that eventually results in the majority to stop trading. This is not to say that you cannot be successful with scalping. However, the main obstacle alongside many other with scalping, is the level of constant focus & rapid-decision making required which can have massive negative effects on your overall trading psychology if not kept in check. 2️⃣ Intraday Intraday or day trading is the most popular type of trading amongst retail traders and is what I prefer the most myself. Staying relatively active, the market gives some time for the trader to reflect & think upon their analysis on the pairs they are analysing. Opening and managing on average ~1-2 positions per trading session, the intraday approach offers a degree of freedom. But does come at a cost due to the declining amount of volume and volatility, intraday traders may experience low risk:reward setups because of the average daily range of many pairs on the market. 3️⃣ Swing Swing trading is the best choice for individuals who want to pursue trading while having a full-time occupation outside of trading. This is possible due to this type of trading primarily focusing on the higher timeframes such as daily/weekly for a large proportion of their analysis. Thus, swing trading is not demanding when being combined with an individuals typical daily routine and trading psychology since they aim to catch mid/long-term market movements. With an average trade holding length of 2 weeks and only 1-2 positions being placed per week. Swing trading is regarded to be one of the least emotional approaches and involves low cost of trading with great risk:reward setups. Though, the main problem with swing trading is the degree of patience required when holding out for long period of times. Often resulting in the trader closing their positions too early and not having the ability to allow the positions to reach their final targets. Which type of trading do you prefer?
Education
by NimmoCapital
1
#NZDUSD SELL OPPORTUNITYIn 4H time frame we have clear bearish move, which followed by bullish corrective move. price retraced to 50% area of Fibonacci ratio in corrective manner, price failing to create HH which base on Dow theory is the first signal for trend weakness. for trading this pair at 6th of October if price manage to come lower than 0.69490 and remain below the EMA 144 in 15 minute time frame could signal for short position first target is 0.69130 and 2nd target would be 0.68950. will update this pair again for u guys.
Short
by mohemati
2
BITCOIN INTRADAY (1-HOUR TF) Update BTCHello guys. A small update - now we are trying to catch a small short, where we will look for a support level from the 34100 and 34420 marks to open a long position. Yesterday's review brought us another +3 take profit to our wallet. I will not describe much, everything is indicated on the graph. Position statistics: 25 profits 3 stop loss I can provide each position and confirmations. Since there are those who want to check the statistics, write to me in personal messages. We are looking at the level of 38850 - at the moment it is one of the key levels May the profit come with us.
Long
by CryptoJaegerB
2
USDCAD Possible INVERSE HEAD & SHOULDERSHere is a possible quick setup for you guys! FX:USDCAD Overall trend on larger timeframes is showing prices headed downwards to possibly create an inverse head & shoulder signifying a possible reversal to the upside if price finds strong enough USD support to break the neckline. I applied our Fibonacci Retracement tool on the following levels, from the HIGH of Mar 30th @1.2647 to the LOW of March 31st @1.2365. (If you didn't know Fibonacci Retracement tool is used to find and visualize better entry and exit points in a trending market wave.) Here is my suggestion, Low risk Swing/Intraday Setups with possibility of massive gains if USD strength can continue to the upside. I will be monitoring DXY(DOLLAR INDEX) closely. As of right now the DOLLAR has been falling for 2 days but I expect it to find some solid support soon. This explains this pull back DOWN we are seeing on USD/CAD. Tomorrow's FOMC MEETING MINUTES (NEWS) & oil reports may cause some havoc for this pair since Canada also has a direct correlation to OIL. Make sure to trade with CAUTION. WE DO NOT chase the markets. Try your best to patiently allow the market to come to our entries. If our entries are not triggered that is OK, I will update analysis & give new entries. I REPEAT WE ARE WAITING FOR ENTRIES TO TRIGGER , WE ARE NOT YET IN A TRADE. We want the lowest RISK set up possible with the possibility of a high reward. Risk anywhere from 1-3% ONLY of your total capital by placing small LONG orders on each of these below retracement levels: 23.6% = 1.2580 (LONG) 0.10% Risk 38.2% = 1.2539 (LONG) 0.15% Risk 50.0% = 1.2506 (LONG) 0.20% Risk 61.8% = 1.2472 (The Ideal trade) (LONG) 0.25% Risk (MY ENTRY #1) 78.6% = 1.2425 (PERFECT Sniper entry) (LONG) 0.30% RISK (MY ENTRY # 2) Stop Loss: @ 1.2364 (1:3)(TP 3) Risk to Reward (1:2)(TP 2) Risk to Reward Take Profit #1 @ 1.2594 (Close 50-75% of total trade positions and allow the rest to run risk FREE) Take Profit #2 @ 1.2683 Take Profit #3 @ 1.2785 Keep your TOTAL risk at a minimum of 1-3% per trade. If these trades are triggered, I will be updating the analysis via comments so be on the look out. :) If you like these quick informative post/tips please drop a LIKE & make sure to FOLLOW ME!!
Long
by FxEarnings
2