What Type of Forex Trader are you?
If you’ve ever considered trading Forex, have you ever wondered how you would go about it? The vast majority of traders will follow some sort of pattern in order to make an acceptable amount of profit, but there are a number of different trader types out there.
Day traders seek short-term gains, while Swing traders seek to make profit in volatile forex markets. Meanwhile, both Fundamental and Technical traders do a huge amount of research before they make their move during trading with varying results.
Long-term traders, as you might expect, are willing to bide their time before closing their trades, but whatever trader type you are, you need to be careful when Forex Trading with City Index. Choosing a currency pair is the first thing you should do such as the GB Pound/US Dollar.
Next, it’s important to choose a leverage scale you’re comfortable with, as forex trading is a leveraged product. You should also keep up to date with any changes in price, no matter how insignificant they may seem at first. Opening a forex trading account is vital too, and if you’re doing it for the first time, start off small so you know what to do later on.
