Hello friends, I hope you are having a great time today as today happens to be the very first day of a new week and indeed I hope that we all get the best of the new week. Cryptocurrency has in so many ways become a significant lifesaver to most of us especially those of us who come from a country where the economic system is in a terrible mess.

One of the ways in which a lot of people have earned money through cryptocurrency is through trading. Cryptocurrency trading has become a major occupation for a lot of young adults and as a matter of honesty, this act of trading has helped so many families escape from the terrible platform of poverty. 


![image.png](https://cdn.steemitimages.com/DQmW4hZfu7HSv64hCsNa5Lhw8rrfeJXNoqs73QaqzHsvgG1/image.png)

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Trading can be classified into different categories just the same way traders can be classified into various sectors as well and through this post, I hope to identify the different categories of cryptocurrency traders available and then expatiate on each of the various qualities that distinguish each of these traders.

### High-Frequency Traders.
These categories of traders get engaged in multiple trades within the shortest possible time. The traders initiate trades within the space of seconds. This trade type is carried out by sophisticated programming tools that take advantage of simple market price change in order to make a profit. 

This type of trading pattern is not advisable for young traders who have no knowledge in the field of trading, it is however for programmers who have equipped knowledge and technological tools required to compete with the available competition in that trading segment.

![image.png](https://cdn.steemitimages.com/DQmbKWnLm4mX5fD5SGz3bmPyuR7H8ieFHf7RTERZg85MmFH/image.png)

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### Day Traders.
These categories of traders jump on frequent daily trades but not as often as the high-frequency traders they take more time to observe the market considering the possible profits and losses. As a daily trader who understands the pros and cons of a trading system, he or she will be careful enough not to jump on just every trade that appears pleasant. Although this trading style also comes with a lot of downsides, it is less risky than high-frequency trades.

### Swing Trades.
This is a trade pattern that involves the selection of a good point of entry and exit. Traders who make use of swing trade patterns are careful enough to study the market, understand that there will be shaky price movements without being scared, and then take profits when an opportunity presents itself. The traders know how well to use a price chart and then recognize the available strengths and weaknesses of the trade.

## Conclusion.
I will like to establish the fact that trading patterns are not only limited to the ones I have highlighted as there are many more available trade patterns. However, trading, in general, requires a significant level of education and dedication, it should not be viewed as a get-rich-quick scheme because there is a high level of risk involved in the entire process.