The beauty of forex, among other things, is that you can do it anywhere, anytimeand you are free to choose your own trading style. This means that you can trade according to your individual personality, knowledge and risk tolerance.
Which Trading Style to Choose?
Let’s learn the basics about the popular trading styles first:
As an intraday trader you hold positions for a short time (from minutes to hours), make many trades a day, and usually enter and close your trades on the same day.
Swing trading is similar to intraday trading, but it has a longer trading horizon between hours to a few days.
This means that you hold positions for a long time (from weeks to years). It’s the opposite of intraday trading because you are more interested in long-term investment than in short-term price changes.
Scalping is very short-term trading. You try to make many small profits during a single trading day.