Which one do you like scalping PAMM trader, day PAMM trader, swing PAMM trader, position PAMM trader or mechanical PAMM trader. Check this out carefully from this explanation.
“Be your self”. It is an easy-to-say but difficult-to-do phrase. Commonly, we are easy to be tempted by other’s personality or type because we always see other’s success. In fact, everybody can enjoy success with his own personality and type. You must find your own type and success will be on your way.
If you like following the news and doing analysis about the calculation of the possibility prices movement based on the existing research that you’ve done, or you do not like to make transaction like a scalping trader but you also deny making transaction until tomorrow since tomorrow’s movement could be having a different impact, so you are called a Day Trader. It means you have a principle no matter what happens, either profit or loss, you have made a calculation of it. And with the deep research you have done, you have bigger profit possibility than losing possibility.
Day traders surely have bigger target in term of pip, compared to scalping traders. They could make profit until 40 pip or more. And the selected time frame will be bigger, between graphic 15 or 30 minutes. They are really expert in riding the wave triggered by the existing daily news. Or they even depend on that wave, but only the wave they predicted on that spesific day.
The advantage of being day traders is they always have good sleep. They do not think of tomorrow, since tomorrow will have its own problem. That’s why they do not have position hang for tomorrow’s transactions. Their analysis is not complicated because they only make daily analysis. And because of the always-closed position, their capital will not be lost if something works unproperly. They have a very measureable calculation of lot and take profit, and also a stop loss..
Is this your dream type of trader? Just be your own self, so that you will find precious treasure in the forex world. In this world that offers a PAMM system, you could easily be a PAMM trader. As long as you are a succesful trader, you do not have to worry about the capital you need, because there are PAMM investors who will seek for you. So, be a day trader if this type suits on you.