TA learnings - what type of trader you want to be?

TA learnings - what type of trader you want to be?

By vendomodus | Stuff | 24 Nov 2020


Hi

Thought on starting a kind of learning and sharing process on Technical analysis.

I'm nothing more than a rookie, but with so many information  on the web, sometimes is difficult to follow and decide what to read.

That's why i decided to make and share my own path on TA. learning from scratch and interpreting my own way. Hope it helps someone.

 

When i started reading about TA, first thing and more important was to define which kind of trader i wanted to be. I divided traders on three known types - Swing trader; day trader and scalp trader. here's how i see them:

 

Swing trader: If you're someone starting, without knowing that much and without much time to check charts more than once per day or even less, you should consider to be a swing trader. Swing traders usualy follow the long term trends, charting on higher time frames (Month, week, day, or even 4H, not less). Swing traders are ok with keeping an open position for days or even weeks.  Movements are more easy to spot as they have less noise on the analysis. But still not easy. A lot of knowledge behind to evolve the trading

 

Day trader: If you have more time, interessted in following the market and make some profits on a daily base, think on being a day trader. More focused on medium term trends of 1-4 hour. Usually positions are open and closed daily.

 

Scalp trader: taking the most of the small timeframes, scalp trader hunts for the short movements, opnening positions and taking profits very fast. It can be perfeclty a profit of 1%. But with a big amout of trades 1% easilly comes a quite substantial amount. But from sclapers I know, you have to be very focused and it can be quite stressfull. If you're an "Iceman" and fast on the button, go for it. This for me also demands a lot of dedication and knowledge. For rookies, most likely will be a dead end.

 

Well, that's it for now, hope you enjoyed and follow 

 

disclaimer: all the information is purely my personal interpretation on the TA concepts.

 

 

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vendomodus
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