Your Trading System, Your Character part 1

Out there, a lot of blogs, websites and forums that discuss trading system for forex trading. but we can easily divide the trading system into 3 style :

1.Scalping
2.Intraday
3.Swing

Trading style that I mentioned above, of course, selected based on the character of each individual / trader, because by recognizing the characters, you can determine what is the trading style that suits you, and for those of you who are just learning forex trading, trading style determines how much time (and money) you waste.
Before we go any further, it would be helpful to identify what the term means that I mentioned above.

1.Scalping as known as pipsing.

according wikipedia, scapling means :

traders who are willing to take market prices. It normally involves establishing and liquidating a position quickly, usually within minutes or even seconds.
The role of a scalper is actually the role of market makers or specialists who are to maintain the liquidity and order flow of a product of a market.

And according investopedia :

is a trading style specializing in taking profits on small price changes, generally soon after a trade has been entered and has become profitable. It requires a trader to have a strict exit strategy because one large loss could eliminate the many small gains that the trader has worked to obtain. 

So from 2 terms above, we can conclud scalping is a trading style when traders take advantage of small movements,even for them who are heavy scalper, they will take 1 or 2 pips profit. Scalping is a trading art and the most difficult to study because a scalper, you could say must be an expert. A heavy scalper could do  dozen even hudreds time going in and out of the market because they only looking for a small profit.

Scalping is not recommended for beginners, because an experienced scalper usually have a clear entry and exit rules, and they do not tolerate the risk. when their risk level hit by the price they will do cutloss with a cold heart. As well as if they take profit level they had hit by the market price, they will immediately cut their profit and no regrets if the price moves far  away from their take profit area.

although still debated whether scalping including very high-risk trading or not, because many of the scalper assign risk reward in quite risky level, such as how much risk level / cut loss level is not balanced with  profit level (eg 30 pips stoploss, take profit 10 pips which means 1:3 RR). But I also know some scalper traders who set a good risk reward (eg, 7 pips stoploss, take profit  7/10/14 pips)

Scalping is a trading style for two types traders.

1.Individuals who have a lot of spare time

2.Individuals who only have the free time to trade a few hours (eg, someone who focuses only 3-5 hours of time to trading and the rest for other activities).

And also scalping is a trading style for those who do not like too long in a state of floating profit or minus.

so get to know your character:
1.Are you type of person who does not like to linger in front of the chart or not?
2.What you have a lot of spare time or not
3.Are you can not stand too long in a state of floating profit / minus or not

And i almost forgot, for a scalper, a tight spreads and high leverage means everthing, usually a scalper looking for a  forex broker that offers tight spreads and high leverage to maximize their profits.

In the next article we will discuss about intraday trading style and swing trading style.