Choose a Trading Style That Suits Your Personality
Trading styles come in different forms and ways for different people. Each trading style varied depending on the length of time that is required for a single trade to hold for. We will introduce four main styles of trading in this article namely swing trading, position trading, scalping, and day trading.
If you are patient and discipline trader, then swing trading is something for you. Swing trading generally required traders to hold the position between a few hours to a few days. This trading style also would need the trader to react quickly when opportunity for profit emerged, therefore patient traders who are able to keep calm under challenging trading condition will be well-suited for this trading style.
Position trading is the trading style that has the longest investment time horizon, this trading style only suited for traders who are very cautious and patient, and have a large capital to maintain the position from margin call. Traders with this trading style generally make their decision based on long-term fundamental factors.
Scalp trading style is well suited for active and decisive traders who can make decision instantly. The level of concentration is high for this trading style. Impatient traders who are able to exit the trade quickly whenever they see the trade go against them or make decision swiftly whenever they see a profiting opportunity will be the best person for this trading style.
If you are the type of trader whose are afraid of leaving the position overnight, then day trading is the style for you. Unlike swing trading and position trading, which is often required trader to hold the position overnight. Day trading erase the uncertainty from price movement during the nighttime.
Consistency is the Key
One of the mistakes a novice trader makes is changing their trading style immediately when the trade goes against them. Once you pick the trading style that suit your personality, it is important that you stick to the strategy to see the long-term desired result.
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