Day trade: Day trading leaves more freedom than scalping, at least it doesn’t require you to be completely glued in front of the screen. However, if you need a high degree of concentration when searching for trades, you should also consider the working day. Like a scalper, he lives on price movements at short intervals, in this case from a few minutes to a few hours, being warned about any situation that may change the market is vital to success.
The technical and psychological requirements are similar to those of a scalper, perhaps with less tension, since it usually does not perform hundreds of operations, doing one or two good things, is worth it.
In this case, daily traders can trade for hours, while the scalper trade lasts for a few seconds.
This level of tension is different.
When making a sports comparison, the scalper must prepare to win in a big helmet, while the trader prepares to win the next match.
We have come to swinging trading, one of the most recommended ways to trade in the Forex market, but it follows fewer people.
It seems that you have to pay a rollover for an open position when we touch a small nose.
That’s why many people prefer to be traders in the daytime market without leaving the trade open after the computer closes, which limits their access to the market and, besides, does not entail any financial expenses.
A mid-term trader (Swing Trading) can have an open trade for a couple of days, even for a couple of weeks.
Forex seems to be a barbarism, but it all depends on the temperament of the trader, his level of knowledge and the amount of time he can devote to his trade.
Swinging trading can be fully algorithmic by choosing a simple trading strategy such as crossing a moving average. Its technical requirements are average, even if it seems that you need to know a lot about the Forex market, in fact it is not necessary, it is more important to have a good personal knowledge than a technical one.
Anyone who studies technical analysis in just a few days can successfully implement a system based on technical indicators.
Another big advantage is that if we talk about charts that are 4 hours a day, we can allocate time to review the operations once a day.
It can be said that trading on swings does not require much time and can be carried out with limited knowledge about trading.
If this requires, like any other trade, good discipline. Without discipline, there can be no reward.
Position trading, within the framework of trading styles, is the least studied at the Forex market.
It is a question of capturing long-term trends, and it is obvious that it is not easy, neither at Forex, nor at stock markets, nor at stock markets, nor at indexes, nor in any other asset.
The difficulty is to establish when the trend starts and when it ends.
In these cases, if the trend is more or less strong, it may affect the ultimate profitability, as we will be subject to many financial expenditures.
Advantage? The technical knowledge we need is basic, and the level of stress we face is low.
Personally, I recommend that you focus on swinging trading, which is the easiest thing to do. The idea is to fix the trend period, and we will not have to suffer the failures that a position trader would have to strive for and the stress of a daily trader or scalper.