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.
Do you really want to become a professional trader whose income is very interesting? Everybody must be wanted to be one of it, especially when supported by PAMM system which will multiply your capital capacity. The biggest problem now will be your job, how if you are not able to keep your eyes watching the fluctuating forex value all the time? Now, you may choose to apply the third type of trader called swing trader.
What is a Swing Trader? When a scalping trader uses M1 or M5 timeframe, and a day trader uses timeframe M15 or M30, the so called swing trader may use a bigger timeframe which is H1 or H4. It makes a swing trader have a wider timeframe for his transaction, between a day until a week. This bigger timeframe and swingtime affect the level of profit and loss. The profit is usually targeted at 50 pips until 150 pips.
This type must be really suitable for employee who has a very limited time for trading. It’s a common that news will not significantly affect the transaction except the one which highly impacted the transaction. It’s still needed to be considered with a minimum treatment.
The most important thing in becoming a swing trader is that you must have a trading plan. When do you have to do a structural entry and exit? Remember that you only have a very limited time to watch the market, both the graphics and the existing news. The failure in making plan will put your account in danger because you will have a big loss possibility. If you are a quiet conservative person who like obeying rules and have a planning type, you will be good with this type.
Knowing this type of trading system, will help you to do your trading while still enjoying your lifestyle. You only need to make a few transactions in a week. Imagine that your account is growing well with a measurable risk, and at the same time you don’t lose your lifestyle! This is a highly profitable benefit for you.
But if you are not a patient person, this type will not suitable for you because you will get bored watching the graphics. You probably make your profit in 20-50 pips soon. But, if you wait for a couple days you may get up to 150 pips or more for your profit.
So, is this type of trader only suitable for part-time job trading? This is not true since you still be able to be a professional trader with this swing type because the various numbers of pairs combination within the currencies will enable you to make many transactions with them. Moreover, with the big fund support within the PAMM system, there is nothing to worry about.
Happy trading !