Knowing and understanding what kind of binary trading trader you are can help you achieve better results. This will help you choose the right strategy for trading binary options, as well as more clearly create a plan for your trades.
Day trader
This is the type of traders who trade during the day and do not leave open positions overnight. Determination and planning of trades takes place at the beginning of the trading day. The majority of binary options traders are of this type.
Position Trader (Position Trader)
A position trader trades for long-term trades. Positions are opened for a week or more. Fundamental analysis is fundamental in making a bidding decision. If you consider yourself to be this type of trader, forex trading is more suitable for you. Since in binary trading it is most profitable to be in trading for no more than a day.
[sc:metod_x]Scalper (Scalper)
Unlike a position trader, scalpers trade for seconds and minutes. The main goal is to make as many trades as possible during the trading day. The trading volume is increased. This method is popular among professional traders, and those who prefer to trade turbo options.
Swing Traders (Swing Trader)
Swing traders usually trade for several days. Their trades usually take place according to a premature plan. These binary options traders usually don’t have time to monitor all day charts, so they have adapted to this time.
By correctly determining which type of trading is right for you, you will be able to choose the most suitable binary strategy and create a trading plan more clearly. This will allow you to correctly deal with risk management and determine the working deposit.
Tagged with: Binary Options Academy • Learning how to trade binary
