Scalper: scalper is a type of forex trader who usually uses shorter time frame charts such as 1M, 5M to trade for very small profit with rapid entries and exits. Forex scalpers make minor profit from every rapid trade in order to accumulate small profit into huge one. Forex traders who trade scalping needs much patience, attention as well as skills to respond to market changes. Most scalpers are stressful due to the screen time and frequent trading.
News trader: news trader is another type of forex trader who makes decisions based on news announcements. Economic reports and other news tend to have a short impact on forex market. Forex traders who trade on news try to predict the coming market trend to get profit. Normally, trading around news is risky because the market is volatile. Moreover, forex traders trade on news need to get reliable news before other competitors and respond quickly in order to capture profits. So news traders should first weigh risk of forex news trading before they predict the profitability.
Swing trader: swing traders are a kind of forex traders who make use of longer time frame charts such as 1H, 4H or daily charts to make profit. The swing trading can last from one day to several weeks because of the longer time frame used by forex traders.
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