Whether you trade Currencies, Stocks, Commodity, Bullion, Options or anyone, decide what type of trader you are. There are 4 types of Trading Strategies popularly used.
Swing Trading: This is one of the most popular trading strategies. Traders hold their orders longer than day trading(1 to 7 days) and focus on identifying Patterns, Support & Resistance levels and Range Bands of the market.
Positional Trading: Position Trading is a long term strategy that depends more on Fundamentals. By predicting the price movement for the next few weeks, they hold their positions weeks together. This requires lot of knowledge, discipline and foresight.
Momentum or Intra-day Trading: Price typically tend to move in one direction for a while, before it switches direction. Momentum traders take advantage of this and jump on board to ride the momentum, make some profits out of the move and get out of the trade before it changes direction.
Scalping: The traders who make dozens of hundreds of trades in a day and trying to “scalp” small profits from each trade by exiting from the trade with in minutes. Here traders make low profits from each transaction, but will be compensated with large number of traders.
Decide which trading strategy suits you according to your psychology, knowledge, timings, etc.