Trading is indeed a very complex field. Furthermore, when it comes to a global platform like the foreign exchange market, trading becomes more dynamic and erratic. In such circumstances, different types of individuals act heterogeneously. And therefore, Sahil Ali highlights the different types of forex traders.
Being a distinguished name in the arena of forex trading, Sahil Ali grew to be outstanding through his scrupulous knowledge in the field. He is also the director of Costafx Technologies Pvt. Ltd. that provides a stage for various traders who aspire to grow through this trading field.
Sahil Ali states the 4 major types of forex traders. Find your category!
1. The Day trader
2. The Swing trader
3. The Scalper
4. The Position trader
Talking about the first category, Sahil Ali describes that the Day Traders take the advantage of frequent small gains making quick profits or losses. They don’t trade overnight and therefore they get the majority of sleep than the other three.
Swing traders are those who have the patience to hold on to trading for several days or several weeks. These types of traders analyze the market for a few hours at night to conclude their strategy and make a trading decision.
On the contrary to Swing traders are Scalpers. Elucidating about these traders he says that they take very little time (from seconds to a few minutes) and grab tiny opportunities to make the most from them throughout the day.
Lastly, Sahil Ali speaks about the Position Traders. These traders believe in playing long games. They conduct basic market research and decipher the market direction to stay always a step ahead. People juggling large amounts are the one who belongs to this category.
Sahil Ali guides all the traders to be patient while dealing in the forex atmosphere. He also advises on gaining knowledge before entering the realm as it will also aid you to get to the bottom of your type.