How long have you been trading? And which type of trader would you call yourself? Are you a scalper in Kenya? Does day trading describe you better?
Are you a swing trader in the Pacific ?
Would you comfortably refer to yourself as a week trader in the US! Or you are just a simple position trader somewhere in Asia!
Who are you?
But really, is there any difference?
Yes, there are lots of differences.
But, in this post we will only focus on day trading. Putting more emphases on scalping which is the most common trading style with millennial & beginning traders.
Note that all Forex trading styles work perfectly by individual. And if there really is any difference then it is mainly in the timings.
And How Can I Use it To Take Advantage of Small Market Moves?
Scalping is a trading style where impatient traders take advantage of momentarily opportunities – grabbing small wins consistently in a relatively safe fashion.
Scalpers go in & out of positions during the day – using the most volatile assets.
A scalper can make $0.9 or less for every option he calls but when you sum up his winnings from different FTTs – for the whole day then you might just be so surprised how much he makes.
What is Day Trading.
And Is it Better Than Scalping?
Day trading is when a trader picks sides in the morning – opening one or more positions which are only closed at the end of the day. Often 30 minutes to several hours.
Day trading fits well with those who have full time jobs with no time to react to the chats instantaneously.
What’s The Difference Between Scalping & Day Trading?
Day Trading .
Three Reasons Why You Should Scalp.
Needs little investment.
You can stop a trading session at anytime to reduce your loses.
There’s reduced risk per deal.
Disadvantages of Scalping
Psychological stress – especially when trends are going against your forecasts.
Needs a lot of concentration & staying in front of the computer.
Calling rapid FTTs drains your resources faster.