Type of Forex Trader

 

Some factors contribute to the success of traders. These are your research and analysis abilities, instincts, and trade timing. 

When it comes to foreign exchange trading, timing is everything. Perfect timing allows you to carry out your ideas and strategies effectively. 

Forex traders are broadly classified into three main categories based on time frame: day traders, swing traders, and position traders. 

In an intraday timeframe, a day trader makes frequent and high-volume trades. 

At the end of the day, these traders rarely have anything in their hands. This means that any negative news that comes after the market closes and before the market opens the next day will not affect their trade.

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