What type of trader are you?
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How to decide on an account

If you're having a hard time determining which accounts to go for, it's best to first step back and reflect on your trading style and how you manage your trades. Go through the slider presentation below and find your trading type.

What type of trader are you?

Do you make many transactions on a day? Do you make profits from small traffic on the market? Do you opt for 5 to 10 positions per day? Are you an opportunist?

 

If you answered yes, you are
THE DAY TRADER
They make many transactions every day, taking advantage of small traffic on the market. They are extreme opportunists who act on a short-term basis, trying to use all the possibilities as well as they can, especially in the event of increased market instability. They are known for “chasing” the markets, and they feel and understand them very well thanks to their frequent involvement in the trade. When there are losses, they cut them quickly. They do not allow emotions to get the better of them.

Do you analyse the real value of assets? Do you look for undervalued assets? Do you consider economic data, e.g. reports on unemployment, GDP, interest rates?

 

If you answered yes, you are

THE FUNDAMENTAL TRADER
Fundamental traders are usually highly methodical, with a good knowledge of a specific asset and usual factors that impact the valuation of that asset. They focus on the economic situation, taking into account the reports of fundamental importance. They pay attention to the decisions of central banks (FED, ECB, and other). While punting on oil, they observe the data on oil reserves and keep track of OPEC actions.

Do you invest on a long-term basis? Do you invest money rather than keep it in a bank account to accrue interest? Do you use tools for reducing major losses?

 

If you answered yes, you are

THE LONG TERM TRADER
This trader usually adopts a strategy of long-term buying. For instance, DOW JONES, the average annual rate of return ranges from 5% to 10%. This long-term strategy may be good for many investors who prefer to invest money rather than keep it in a bank account with a low-interest rate. There is always a risk of long-term investments, but there are tools that allow you to minimize it.

Do you focus on major movements and strong trends? Do you ignore the latest economy news, e.g. reports? Do you set specific entry and exit points?

 

If you answered yes, you are

THE SWING TRADER
Swing traders maintain their position for more than one day but no more than several weeks. Their strategies are based on technical analyses of major trends and price formations. They are able to make a profit thanks to well-established trends that they join as part of local corrections. Large price fluctuations in strong trends allow them to make a profit.

Do you take advantage of historical price trends? Do you pay attention to the current situation? Do you ignore the latest economy news?

 

If you answered yes, you are

THE TECHNICAL TRADER
Technical traders aim at using historical price trends, assuming that history has a tendency to repeat itself. They observe the developments on charts in various time periods (minute by minute, hour by hour, day by day), paying attention to support, resistance, price formations, trends, and other technical analysis methods and does not take into consideration of the latest economy news. The technical trader is only focused on a price chart. One closely observes the movement of prices, their development, looking for a favorable situation to open or close a position.