When you start your forex trading, you need to know what kind of trading time frames that Forex has. Forex has 3 classification in frames, short term, medium term, and long term. With 4 trading style, position trading, swing trader, day trading, and scalping.
If you want to know the best decision for your trading frames, you need to know about position, it’s about when you come in and when you exit the market. As a trader, you need to know how the trading time frames work. The frame works on when you hold long your position and it will set up the prices and your exit points.
If you decide to hold a position for a week, your profit objective would commonly be higher than if you just to hold the position for a few hours because you would expect the price to move high more and more, because the longer period of time.
Position Trading
Position trading is a long-term style and the longest period in forex trading. It depends by the traders itself, how long they holding their position, it can be generally for weeks and month. The function of Position traders is trying to identify the currency.
Then, position trading can find out the trade currency, in medium signal to long term trend. But it takes more time like a few days to identify. This trading time frame is the most consuming time than one among the others, as there is not much need for intensive monitoring.
Swing Trader
Holding a position for a week is a way for swing trader, but it's no more than a week. Identifying and monitoring on trends early is the central objective of this trading style, and the profit objective tends to be set higher than that of day trading since the swing trader is expecting that by holding out for a few days, there is a better chance of capturing a larger price move.
Swing trade is different with the day trader, the swing trader has to bear overnight risk. Swing trade is different with the day trader, the swing trader has to bear overnight risk. A swing trader need monitoring of the market like minute to minute, every hour. the people who hold day jobs is preferred for This type of trading.
Day Trading
This is the most popular types of trading, especially in the best forex broker; the day trading. This type of trading requires traders to open and close positions in a day. They do not need to hold positions overnight because of the unstable prices changes and the holding period of the day trading is takes range from minutes to hours, just in a day.
Day traders are looking for signs that a currency pair is going to high in some situation. Day traders often to wait for good trading opportunities, instead of trading suddenly like scalping likely to do. This style of trading involves solid concentration from the trader as positions must be closely monitored on the price charts.
Scalping
This is the last trading time frames that we want to share about, scalping. Scalping is the shortest-time trading in Forex. The chance to win this trade is so small, the opportunity that we have it’s just takes a few seconds to minutes but you can win every time because the system of trading. Scalpers must have fast internet connection to take small profit and with fast trading.
In short, 4 type of Frames you can learn in DIDIMAX. Then, after you mastering those types, you have to choose a broker for your, DIDIMAX’s best broker is a wise choice.
You can join DIDIMAX because they have some good mentors that can help you to understand more about Trading Frames of Forex Trading. And If you looking for broker, DIDIMAX is the best choice. You should also know exactly your trading time frames for a successful trading.
