swap charges, relative good technology and also a broker offering a wide asset
index. Swing traders are using both technical and fundamental analysis.
3. Intraday / Short Traders
WHAT THEY DO?
They open and close positions in the same day. This type of Forex traders is focusing
solely on technical analysis. Short-traders use either their own system to trade or
they pay a monthly subscription to an external signaling service. The alerts of
signaling services are delivered via SMS, email, Facebook, Member’s Area etc.
Information about Live Forex Signaling Systems is found in Chapter-7.
REQUIREMENTS:
Basically two things really matter. First of all you need the perfect technology with
minimal delays. Secondly you need a Forex Broker offering very tight spreads and
small trading commissions. Short-Trading is all about paying minimal cost. If you
want to evolve as an Intraday Trader, think about joining a trading rebate plan too.
A trading rebate can minimize your trading cost. You may find three ECN rebate
plans at the Chapter-5 of this eBook.
4. News Traders
WHAT THEY DO?
They are trading important news and events, perfect information and top technology
are considered absolutely a ‘must’ for News-Traders.
REQUIREMENTS:
The same requirements needed as the Intraday Traders (News-Traders are Intraday
Traders too).
5. Forex Scalpers
WHAT THEY DO?
As it was mentioned in Chapter-1, scalpers open and close positions in tiny
timeframes lasting less than one minute. They aim to ‘scalp’ the market and earn 210 pips.
REQUIREMENTS:
Scalpers need perfect technology and minimal transaction cost -But all that is needed
in a much higher extend than the case of the usual intraday trader. Usually scalpers
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