Types of Trade Styles

Types of Traders: Scalper Traders, Day Traders and Swing Traders

There are different types of traders depending on the amount of time that they hold their open trade positions.

These traders also use different chart time-frames to place their trades.

The different types of traders are:

Scalper traders
Day traders
Swing traders
Position traders

Scalper Traders

Scalpers are traders that hold on to their open trade transactions for only a couple of minutes. With main objective of earning just small amounts of pips as a profit, 10 to 20 pips.

Scalpers make many trades in one day, trading during the busiest times of the day.

Scalpers are traders that can make quick trading decisions.

Gold Scalpers use 1 min charts & 5 minute charts to place their trades. They use 5 min chart to determine the price trend, if it going upward or downward, then use 1 min chart to decide their entry and exit points.

Day Traders

Day Traders are traders who hold on to their open trades for few hours but not for more than a day. With main aim of making quite a number of pips, 30 - 70 pips

Day traders make 1 or three trades in one day, trading during the busiest times of the day and they do not hold their open trade positions overnight.

Day traders use 15 min charts & 1H charts to lace their trades. They use H1 chart to determine the price trend, if it going up or down, then use 15 min chart to decide their entry & exit points.

Swing Traders

These are the traders that hold on to their open trade transactions for few days to a week. With main objective of earning a big number of pips, 100 to 300 pips

Swing traders make an average of 2 to 5 trade transactions in one week, holding onto their open trade positions overnight. Gold swing requires traders who are patient.

Swing traders use 1H charts & 4H charts to place their trades. They use 4 Hour charts to determine the trend, if it going upwards or downward, then use 1H chart to decide their entry & exit.

Position traders

These are the traders who hold on to their trades positions for weeks or months. With main objective of earning a big number of pips, 300 to 800 pips.

Position traders make an average of 2 to 5 trades in a year, Position trading requires traders who are patient, experienced & have huge account balances which can withstand huge drawdowns.

Position traders use 1 day & weekly charts to put their trades. They use weekly charts to determine the trend, if it going up/down, then use Daily chart to decide their entry and exit.

What type of trader is the best?

Most popular type of trader is the day trader and gold swing trader. When starting its best to try day trading and with some experience try swing trading. These methods are most suitable for novice traders.

Scalping trading is also popular among traders.

Position trading isn't very popular because this type of trading requires a huge trading account balance & sometime it can result to huge draw downs.

What Are Various Types of Traders? - Various Types of Trade Methods - Types of Trade Styles - How Many Types of Trading are There

Study More Topics and Lessons:

Trade Gold Trading