What Is Your Trading Style?

When I first started trading forex almost 2 years ago, I would hold trades for longer than a day. This was mostly due to the fact that I didn't know what I was doing and I was either looking for unrealistic profit targets based on my time frame or it was because I would keep moving my stop loss hoping for the price to bounce back my way.

I've never held a trade more than a couple of days and in the past year, I've rarely held a trade for longer than 24 hours. Therefore I would have to classify myself as a day trader. I feel most comfortable technically day trading but does day trading suit me? Based on my hectic schedule and already my challenge for sleep, I don't think it would be smart for me to attempt any day trading strategies at this point in my life. My h-system is a day trading strategy but it's systematic so I'll continue trading it but if the performance continues to suffer and the only option is for manual intervention, I might have to put this off also.

So what I'm doing now is trying to look more at trades that last a couple of days. I'm not sure what style of trading this can be classified as but from what I mention below, it could be swing trading. I'll continue to look at 1-hour charts but I'll also start concentrating my efforts on the 4-hour and daily charts. Position trading is the style that ultimately may suit me best.

I was reading the Special Trader's Issue of Stocks & Commodities that I received this month and they have an article that looks at the different trading styles. According to the author of this article, there are actually 7 types:

1. Intraday trading - This style of of trading is very short-term, mostly holding for only minutes. This style requires extensive knowledge of the market and also extensive capital, both of which I'm short on. Traders of this style may want to use 15-minute to 1-hour support levels. This style is impossible for me at this point.
2. Day Trading - Trades may be held a bit longer than intraday but not much. Traders of this style may want to use end-of-day intraday support levels.
3. Momentum Trading - This style of trading tries to take advantage of a sudden rise or drop in the price of a currency pair. Trading this style is very similar to day trading in that traders would mostly want to use end-of-day intraday support levels and also have a moderate sized capital base.
4. Swing Trading - Traders of this style typically hold positions for several days to a few weeks. Swing traders use weak support levels that form over several days.
5. Position Trading - This style requires a smaller capital base and less experience in the market. Position traders can use weekly charts to start their analysis and moderate support levels that form over weeks to 3-months.
6. Intermediate-term trading - These traders look longer-term and at quarterly support levels.
7. Long-term investing - This style of trading requires holding trades for a years at a time. I don't see myself trading Forex long-term. If I'm investing long-term, I'll look at mutual funds and dollar cost averaging.