What Kind of Forex Trader Are You?

There are many various kinds of forex traders, and each requires a unique strategy. Whether you choose for the slow-paced marathon of position trading or the rapid-fire sprint of day trading, choosing the best style for you will increase your chances of success. Continue reading to discover more about the many forex traders that participate in the biggest market on earth.

THE SIX TYPES OF FOREX TRADER

Scalpers, day traders, swing traders, position traders, algorithmic traders, and event-driven traders are the six main trading categories that most forex traders fall under. Find out which kind best fits you by taking our DNA FX quiz! Discover the best character attributes for each type by reading about the various kinds below.

  • Scalper

Scalpers are traders that only maintain positions for brief periods of time, often between a few seconds and a few minutes. Forex scalping tactics entail frequent trading throughout the day with the goal of making modest profits during the busiest (most liquid) periods.

Scalpers have a fast-paced lifestyle. You should be alert, instinctive, and quick-witted, but also stoic under pressure since you will constantly be digesting new information and responding to swift market movements.

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