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.
Compared with the previous types of trades, from scalping traders, day traders, and swing traders, the position traders are persons whose personality is very calm, clever and intelligent. They understand the economy fundamentals of a country. They select informations in a very tidy ways and take their personal decision with those informations. If you are this type of person, you must adapt with the criteria for being a position trader.
Position traders must select an enough long timeframe with the D1, W1, or even MN timeframe graphic (daily, weekly or monthly graphic). If swing traders make their transactions within one day until a week, position traders may make their transactions in several weeks or even several months. They like making their transactions in a long term and really affected by the fundamental technique they follow .
As the consequence from this type of traders, they surely have a potential profit between 500 pips or more. And since the transactions are very limited in term of numbers, they can push the frequency. Like the swing traders, position traders do not have to watch the graphic too much. That’s why this type is suitable for a part-time employee. But you have to be aware too and make sure you are not trapped into this type, since you will need a few weeks or even a few months to get your profit. If you are not a patient person and you have a deep analysis about a long term movement, don’t ever try this type of trader.
Since the transactions are excuted in a long term, this type of traders really need serenity. They are usually afraid of the floating loss and profit. The very big and potential profit for this traders are affected mostly by fundamental effect from a particular country. Patience and calmness are keys to success for traders with this type.
Being a position trader, you have to consider one more thing while making transactions. You can gain profit by using the so called ‘swap’. You must select particular currency which swap is profitable so that you can gain a long-term-profit transactions only from the swap profit. It means you will get not only profit from your increasing transaction value
The weakness of this type of traders is they often get trapped in making a long term comprehenship thought that makes them take a late decision either in the entry or exit time. They must try to make revision by considering a validated-decision verification in the entry and exit time with a smaller timeframe but still a long term thought in term of volume.
Happy trading in PAMM system.