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What kind of a trader are you

Binary Options Trading

For those of you already familiar to the world of trading it is no news that each and every one of you has a unique trading style. One prefers to trade commodities, other prefers to trade stocks, some choose a shorter expiry date whereas some choose to wait longer for a more accurate prediction.

However, at a closer look patterns emerge. Are you aware of the kind of trader you are? Take some time to analyze your strong points and weaknesses.

The Make-Money-Fast Type

Some traders make the mistake of trusting their previously gained skills with this new field of binary options trading and imagining they can make a great deal of profit in the shortest time possible. If you are one of those traders, then you are definitely a beginner who will soon come to realize that the more time you invest in building up your experience the better your chances are to obtain substantial profit.

The Scalper

This type of trader is one that enjoys the suspense of a fast paced binary options trade. They usually appear at rush hour and are held onto for a few minutes, at most.

Their main goal is to obtain small profits as many times as they have the chance. If you think you got what it takes to be scalper, think twice. You must be able to focus intensely and make quick decisions. If you know yourself to be one that crushes under pressure, you are surely meant for another type of trading.

The Day Trader

Day trading is dedicated to those who like to take things one at a time. Although a day is not long term in trading either, the day trader prefers to invest a fair amount of time in his chances of profit.

If you are one who does not like to hold his trades overnight, you take some time to analyze the markets but do not enjoy trades that take too long, you are definitely a day trader. If you don not yet know whether you should follow this path or not, we advise you to pay attention to all the nuances of day trading.

The Swing Trader

This particular type is very patient and chooses to hold the trades for several days. Even though swing trading does not require monitoring the markets throughout the entire day, those who trade in this manner do their homework and take only trades that have a high probability of winning.

You are surely meant for this if you do not mind taking fewer trades and handling them carefully. There are, of course, also those who can hold their trades for months or even years. Position traders have at their disposal an impressive capital and the swings of the prices do not scare them.

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