Not all traders are the same. Everyone has their preferred way of trading. Have you identified yours?

Trading style and trading strategy may sound interchangeable, but they’re actually distinctive from each other. Trading strategy refers to the methodology used to define the price points where you enter or exit trading position, whereas style refers to your trading preferences. This includes how frequently you trade and whether you’re going for short or long-term trading.

There are four main styles: day trading, scalping, swing trading and position trading. Pick one that best suits your personality and the current market situation. If you’re someone with a tendency to make snap decisions, Scalping might be the way to go for you.

Scalping is a rapid trading style which involves making trades within a few seconds apart from each other and commonly in opposite directions — going short for a minute and then going long next. This style works best for those expecting to make instant profits from their trades.

However, keep in mind that the best scalpers are not only speedy, but also highly focused individuals. If you’re easily distracted, it’s best to look elsewhere.

Day Trading is great for those who prefer to get things done within the same day. Much like Scalping, Day Trading is a fast-paced trading style — except this time, you’re making trades within a day. When day trading, it’s best to focus on gaining as many small profits as you can in a day. Fortunately, this type of trading style is able to thrive off of the crypto market’s volatility. Day Trading is great for those looking to gain quick bucks. But, what if you’re someone who want to take things a bit slower?

Swing Trading can net you gains just like Day Trading. However, with Swing Trading, you trade at a lower frequency — typically multiple trades in a week versus Day Trading’s multiple trades in a day. This trading style also requires less active time in comparison to Day Trading. Moreover, Swing Traders normally hold multiple trades that can last for several days, weeks, or months.

Unlike Day Traders, you don’t really have to react to the tiniest price changes. Instead, your goal is to capture short-to-medium term profits as the market trend shifts.

You want something slower than Swing Trading? There is one more trading style that I have yet to tell you about, and it is Position Trading. Slow and steady wins the race. Position Trading is made for the cool and calm traders.

Position Traders should be able to trust their own judgment instead of being easily swayed by popular opinions. While it’s considered the simplest form of trading, a serious level of discipline is needed in order to pull it off.

A Position Trader typically holds a position for a long time — sitting through both bull and bear markets. A Position Trader will perform a thorough fundamental analysis before entering a position. Often times, the position is huge as a Position Trader typically looks at a minimum of 10% profit.

If you’re someone who gets giddy with excitement at the sight of small profit and is tempted to close early, Position Trading might not be for you.

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