So am planning on Trading with 3 time frames which are the 15minute 30minute and 1hour time charts…am i a scalper or day trader?
I think you are a scalper based in the timeframe you are using.
Am basically basing all my Trading on the one hour chart and an using the other time frames to observe best entry points…do you still consider me a scalper?
actually it depends. if you are trading, observing and doing technical analysis in M5, M15 up to H4 timeframe and your target pips is around 30-60pips plus the time of your position is within the day it is considered scalping. However, if you are using H4, D1 and W1 timeframe and your target pips is around 100-300 pips and your position last for days you are considered a swing trader.
I hope this helps. anyway you can correct me if I’m wrong.
By definition a day trader is one who closes every position at the end of the day, rather than let it run overnight. The TFs are irrelevant, used both by scalpers and intra-day traders…
I don’t really think labels are important. Id personally say anyone who trades intraday is a day trader.
I call myself a short term trader, but have been told that I’m a swing trader or position trader.
If you want to be technically correct scalpers were floor traders in the open outcry markets who take a point here and there buying and selling on behalf of clients.
What we all are though is financial risk managers - although I’d personally suggest that modern scalpers are nothing more than the patsy’s of the forex broker industry.
You are more considered as an intra-day trader
Scalpers usually trade on shorter timeframes such as 1m or 5m
You are an intraday trader. I like to trade swing.
I think that much depends on the time frame you exit/hold unto ur trades
There are 4 types of trading categories. Your trading style is intraday. This strategy is known as very profitable when done with planning.