Chapter 4 TYPES OF CURRENCY
Currency is divided 2 which is major and minor. Major currency is that currency that we frequentlyuse in trading USD, EUR, GBP, CHF, JPY, AUD and CAD. for minor are beside the major currencyabove.
Currency pair divided by 2 type which is MAJOR PAIR and CROSS PAIR
MAJOR PAIR is combination any of currency pair with USD.4 Major pair is EUR/USD, GBP/USD,USD/JPY and USD/CHF
CROSS PAIR are all currency that not combine with USD like EUR/JPY, NZD/JPY, EUR/CHF and many
more
IDENTIFY TYPES OF TRADERS
1. Scalper Traders
- Using scalping technique with take small profit
- Take less than 10 pips on every entry
- Scalper eventually trade more than 10 times a day
- Gaining more profits when open more position or layer
2. Intraday
- Entry position less than 24 hours
3. Swinger
Entry position more than 24 hours (3 days and above)
They are midterm and long terma
They more likely to trade follow the current trend especially in the big timeframe like daily
and weekly
