Identifying which forex d forexdiscountbrokerscount brokers style you really cashback forex forexbonusrebate finding the type of trading that suits your personality and lifestyle is always one of the top priorities for forexrebatesbrokersMany traders dont understand the importance of this matter, they use a trading method randomly and dont consider whether it will bring them profits, What exactly is the difference between different trading methods They are too far from success and cant find the source Today, we analyze the advantages and disadvantages of various trading styles to help forex traders recognize which type of trader they are, as well as find the type of trading that suits their personality and lifestyle Intraday trading Intraday trading means making multiple trades in a day, spending more time each day facing a computer screen and studying Day traders usually analyze different instruments and markets, but of course, they may also look for trading opportunities during low-volatility periods. If you dont have a lot of time to wait for trading signals during high volatility periods, then day trading is a good option and losing a trade has very little impact on the day trader because you will always get more new signals Disadvantages: Day traders need to be emotionally stable and tough in order to handle the challenges they face every day Day traders with a gambling mentality are also destined to fail as swing traders Swing traders They usually trade during high volatility periods, such as weekly, daily or 4-hour trading cycles Swing traders mainly try to catch larger market swings to better exploit trends Swing traders trades can last for days or even weeks Advantages: Swing traders trade more slowly than day traders They have more time to do market research and plan their trades in advance If you have your own separate job outside of trading, then swing trading is more suitable Disadvantages: As a swing trader, you need a lot of patience because a good trading signal can take days or even weeks to appear In addition, if you are already trading, then you need to deal with more frequent fluctuations and all you can rely on is your own system and pre-trade analysis Scalping Trading Scalping Scalpers are actually an extreme type of day trader Scalping traders generate a considerable amount of volume in each trading session and each of their trades is very short, usually ranging from seconds to minutes Advantages: If you are a scalper, then each trading day is not really that long and each loss does not affect the trader very much Disadvantages: Intraday trading The disadvantages of scalping in this case also apply, and even to a greater extent scalping is more demanding on the character of the trader, because the scalper must be very stable emotionally if a person does not have strong self-control, then he can easily fall into confusion, and it is also difficult to accept losses, such people are not suitable for scalping trading automatic trading automatic trading system (download forex smart trading system, go to www. eazhijia.com) will help with trading, saving the trader a lot of monitoring work by simply programming the automated trading strategy, then all you have to do is monitor the trade and you dont need to constantly manage the market or trade yourself Advantages: automated trading strategies avoid mood swings and eliminate the impact of impromptu decisions made by traders Moreover, automated trading frees up the traders time. Disadvantages: By programming an automated trading system, the trader needs to have some programming knowledge. Most automated trading strategies have a good trading record, but it is difficult to guarantee that they will continue to perform as well as before. We will also look at the differences, advantages and disadvantages of these two trading methods: Systematic trading Systematic traders follow a set of trading principles, which are usually also fixed When a signal appears that meets the rules, the trader can enter the trade Traders who rely on indicators are usually also systematic traders, because indicator strategies generally require traders to have some understanding and development of indicators Automatic trading strategies are also purely systematic Trading because algorithms do not have the ability to think, they rely on precise parameters to tell them when to enter trades Advantages: Systems and principles can eliminate the negative effects of emotions and psychological ups and downs If you have set fixed parameters for entry, your trading style is usually more objective and it is easy to replicate the same operations Disadvantages: The disadvantage of pure system trading is that it is difficult to adapt to changing market conditions These trading principles are usually only applicable to a specific market, when there are unexpected changes in the market, it is difficult for them to work Autonomous trading Autonomous trading system is the opposite, it can adapt well to changing market conditions Autonomous trading relies more on the traders analysis and continuous research As the market changes, the entry signal and the method of execution of the trade is also changing Advantage: Autonomous Trading strategies are able to adapt to changing market conditions and traders are able to react quickly Disadvantages: Autonomous traders are more subjective and their self-control is weaker However, the lack of strict trading rules does not leave traders to follow their intuition or imagination, but requires them to evaluate the current market conditions and change their style