How to Choose Your Trading Style Tutorial for Different Traders

Choosing a Trading Style for Beginner Traders

From the four different xauusd styles a trader will need to choose their own xauusd technique that best fits them.

The four xauusd styles are scalping trading, intra-day trading, swing trading and position trading.

A trader will have to choose their own method based on how many hours they have for trading and also based on the amount of time which they want to hold their open trades.

XAUUSD scalpers will hold on to their trades for only a few minutes
Day Traders will hold on to their trades for only a few hours
XAUUSD Swing Traders will hold on to their trades for only a few days
XAUUSD Position Traders will hold on to their trades for only a few weeks to months

Traders should therefore try to choose the trading style that best suits their personality. For new traders it may take a while before they can decide which method is best for them - beginners should practice & learn using a demo account until when they can find their own xauusd technique that best fits them.

Choosing a trading style that best matches your personality as a gold trader will greatly increase the chances of your success. To help you as a beginner trader to try and get an idea of what each style method entails the following guide will list the characteristics of each method & from this guide-line you can then try to decide which xauusd style method will best suit your personality.

Scalping Trade Style

XAUUSD scalpers are traders that make open & close trades within minutes or sometimes within a few seconds.

XAUUSD scalping requires traders that can make quick decisions & implement these trading decisions quickly while trading the market.

XAUUSD scalpers will open trades and close trades promptly without hesitation.

XAUUSD scalping requires traders who are quick to make their trade decisions.

Day XAUUSD Trade Style

Day traders are traders that make open & close trades within hours. Day traders will have a few hours to open & close trades without leaving the open trade transactions overnight.

Day trading requires traders that can make decisions & implement these trading decisions within a few hours.

Day traders will open trades and close trades within a few hours.

Day trading also requires traders who are also quick when it comes to timing of when to open & close their trades.

Swing Trade Style

XAUUSD swing traders are traders that make open & close trades for a few days. Swing traders will leave their open trades overnight & let these trades run for few days so as to catch the medium term trend movement.

XAUUSD swing trading requires traders that are patient when it comes to making their trade decisions.

XAUUSD swing traders will open trades for a few days.

XAUUSD swing traders are traders who are patient & who can wait out for the intermediate trend movement to play-out without wanting to close their open trades too early.

Position Trade Style

XAUUSD position traders are traders that make open & close trades for few weeks to a few months. Position traders will leave their open trades let these trades run for a few weeks or months so as to catch the long term trend movement.

XAUUSD position requires traders that are very patient when it comes to making their trade decisions.

XAUUSD position traders are traders who are very patient & who can wait out for the long trend movement to play-out without wanting to close their open trades too early.

Choosing a method requires that you know when a method is working for you & when it isn't. You should therefore take enough time when doing research on what xauusd style method that is best suited for you. Once you come up with your preferred xauusd style method you can then use it to trade the real market by opening a real xauusd account & trade on this real xauusd account using your style.

Guide on How to Choose Your Trading Style for Different Types of Traders

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