There are various types of traders but there is no one type that can be described as the best. However; a trader must understand what they want to accomplish with their trading, which includes the costs, as well as their own personal strengths and weaknesses. There are three main types of forex traders:
Day traders are those who aim to make a profit from short-term price movements. This is whereby we aim to make the most profit from within a day. Swing traders are those who aim to make a profit from daily price trends, for example where you can see that the price swings up and down every few days. Position traders are those who aim to hold onto their positions for several days or even weeks.
Different types of forex traders have different expectations of their returns and time frame for trading; it is important for them to determine what will work best for them, as well as the amount of risk that they can take on. It is imperative that a trader knows when to cut their losses and stop trading. In order to do this, they will have to know their own strengths and weaknesses and they must know their price action best. In addition, they must be aware of how to find good price action that gives them a market edge, as well as how to avoid being taken for a ride by other traders. Therefore, a trader must be able to identify what their goals are, as well as their strengths and weaknesses. When they have clearly identified all of these things, they will be able to set out a clear trading plan that should make it easier for them to achieve their goals.Also Learn more about cryptocurrency trading.
For example,we have a trading example video covered by one of the expert: