There are several ways to classify traders, one of the most common and yet significant differences is "short-term" and "long-term" trading. Both groups of traders will use both technical and fundamental analysis, stop and limit orders in similar ways but with some important differences that can lead to mayhem in your account if not thoroughly understood. Trading style typically depends on a traders personality type and their unique risk appetite. However, most Forex traders usually prefer and apply short-term trading strategies in the market.
Every trade made is either a short-term or long-term trade. Investing in a long-term trade is one way of focusing on a particular trade for maximum benefit, especially when a trade has a high success rate. Another benefit is it gives the trader time to carefully plan before actually executing anything. Long-term trading can take anywhere from weeks to months in order to liquidate a position. An investor who prefers long-term trading doesn't care about daily volatility in prices of currencies he is trading. What they mostly care about is the general direction of the currency pair and underlying fundamentals, such as corresponding countries economic conditions to support and continue supporting the position they're in. Short-term trading is the kind of trading that traders who prefer the action and volatility the market offers. Most of the time short-term traders sit in front of the computer and wait for the perfect chance to jump, before entering the market, until they see a profit or loss.
Long-term trading is definitely less time-consuming since you don't have to watch the live market all day, every day. Many new Forex traders are working full time, or raising their families and having a personal life while they go through their trading journey at the same time. Short-term trading may be more popular, but it requires more attention on a consistent basis. The Apiary Fund is how I learned how to trade, and I can say I am a short-term trader myself. I do recommend trying both styles of trading before you see which style fits not only for your trading personality but your lifestyle. The Apiary Fund encourages people to figure out their trading personality and lifestyle in order to be successful in the markets.