What type of trader are you
Sep 1, 2017 at 1:56 pm #669
It would be interesting to find out what time-scales members are looking for in trades.
Scalper: Looking to hold positions for a matter of minutes.
Day Trader Looking to close out all positions by the end of the day
Swing Trader: Holding a trade open for between a day and a week
Position Trader: A trader who is looking to hold a position for a number of weeks
Long Term Trader: Someone who is holding a trade open for months at a time
Buy and Hold Trader: A trader who is looking for a return over a number of years.00Sep 1, 2017 at 1:56 pm #670
Good idea about this poll !
Intresting that there are no BuyAndHold investors. In fact, in February 13th, 1973 just after the second gold devaluation (when currencies were finally liberalized 30 years ago) 1 modern EUR was equal to 0.66 USD cents. USD/JPY was 266.67.
So if you had sold USD then and buy DEM, you will earn 75% profit, equavalent to 2.56% annually without compounding. In JPY you got 140% profit, which comes to 4.66% annually.
Very good conservative investment – bet against the USD.00Sep 1, 2017 at 1:56 pm #671
daytrader here, I guess most in here are daytraders with the definition made MoneyTec. I’ll try to become a swing trader within the next 12 months00Sep 1, 2017 at 1:56 pm #672
I think day trader will be the answer of all professional traders.00Sep 1, 2017 at 1:57 pm #673
Ideal holding period 2-3 months, longer if everything is going great.
Adding units along the way.
Take profits with a trailing stop 1 tick above/below relative high/low on shorts/longs.00Sep 1, 2017 at 1:57 pm #674
I’m kind of mixing these styles: looking on fundamental predictions, I’m a swing trader. Still, if intraday the prices swing constantly with 10-20pips I don’t refuse a scalping, trying also to keep the original trend. If the pair is in consolidation or expecting some barrier breaks for getting a new trend, I close my positions overnight. So, what kind of trader am I?00Sep 1, 2017 at 1:58 pm #675
Hi, it looks like you are a daytrader. You didn’t describe situations when you keep the position for several days.
Anyhow, choose whatever you are enjoying the most and vote
Good luck00Sep 1, 2017 at 1:58 pm #676
when taking some positions for more than one day I’m taking profits gradually when the price approaches the (fundamental predicted) target of 1.30.
As an example, 3 weeks ago the USD/CAD was ~1.343 and I had a total amount of about 500k:: starting from 1.31, I placed buy orders of 50k/each at every 10 pips, down to 1.30.
However, I already voted for “scalping”.00Sep 1, 2017 at 1:58 pm #677
trade em all..wherever the opportunity arises..in & out over a day..plus position trade..although stops have to be miles away to be a buy & holder in fx markets, huh…00Sep 1, 2017 at 1:58 pm #678
So how do you apply stops on a weekly/monthly platform? Don’t you get stopped out by swings?00Sep 1, 2017 at 1:58 pm #679
any “Buy and Hold Traders” here?
do you trade only in direction to earn interest rates differential?00Sep 1, 2017 at 1:59 pm #680
With a much grander vision of incorporating a little of all of them into my trading repertoire.
Of course an individual trading style should develop over time which is why I have been spending more and more of it here listening and learning.
GL/GT to all.00Sep 1, 2017 at 1:59 pm #681
Still a day trader, but as I build capital I will open another account for longer term trades. It seems the logical next step in the evolutionary process, cash dependent though it is since I trade full time to meet my monthly nut. But I am a Paper Swinger!!00Sep 1, 2017 at 2:00 pm #682
Day, swing, and position. But, my day trades last about 12-16 hours, not 12-16 minutes like a typical day trader.
I make the most money from Swing and Position trades.
scott00Sep 1, 2017 at 2:00 pm #683
I’m definitely a scalper, looking 20-50 quick pips, then I am gone. I hate to have money on the line when I’m not watching it.
But I can turn into a day-trader if a trade goes against me. I don’t mind holding a position for several hours, or even overnight if I am convinced it will come back in my favor. I learned early on that most of the swings will come back to you if you can handle the dips.00
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