Types of Metals Traders: Scalpers, Day Traders, Swing Traders and Position Trading
Types of Metals Traders
There are different types of Metals traders. The type of a trader one is depends on the amount of time that they hold their metals trade transactions.
The different types of metal traders also use different chart timeframes to place their metal trades.
The different types of Metals traders are:
- Scalpers
- Day traders
- Swing traders
- Position Metal traders
Each type of Metals trader is explained below and as a beginner metals trader you can decide which type of Metals trader you want to be based on your trading personality and the metal chart timeframe that you would want to be trading with.
Types of Metal Traders - Scalping Metal Trading
The Metals traders who are scalpers hold on to their metal trades for only a few minutes. With the objective of making a small amount of pips in profit, 5 to 10 to 20 pips.
Scalpers are the type of Metals traders that make many metals trading transactions in one day and participate in metals trading during the busiest times of the metal market. A scalper metals trader can open anywhere between 30 to 50 metal trades per day.
Scalpers are Metals traders who can make quick decisions.
Scalpers use 1 min metals charts to put their metals orders. They use 5 minutes Metals chart timeframe to determine the metals trend, if the metals trend is going up or down and to decide their entry and exit.
Scalper 5 minutes metal trading time frame metal trading strategy
A Scalper using 1 minute metal chart timeframe wants to go long, checks 5 minute metal chart, looks like the metal examples illustrated & described below, since it shows the metals trend is going up, the scalper will then decide it's okay to buy metals.
Types of Metals Traders - Metals Trading Scalpers - Scalping Metals Trading - Scalper Metals Trader
Day Trading Metal
Metals Day Trader - This type of Metals trader holds on to their metal trades for a few hours but not more than a day. With the objective of making quite a number of pips profit: 30 to 70 pips.
The metals day trader makes 2 or 5 metals trading transactions in one day, participating during the busiest times of the metal market and they don't hold their metals trading orders overnight.
These Metals traders use the 15 minutes Metals charts to put their metals orders. They use 1H metals chart to determine the metal market trend, if it going up or down and to decide their entry & exit.
Metal Day Trader 1 Hour time frame metal trading strategy
A Metals day trader using 15 minutes metals chart wants to go long, checks 1 hour metal chart timeframe, it looks like the metal examples illustrated & described below, since it shows the metal market trend is going up, the metals day trader will then decide it's okay to buy metals.
Types of Metals Trading Market Traders - Metals Day Traders - Metal Day Trading - Types of Metals Traders
Metal Swing Trading
Metals Swing Traders - This type of metals trader holds on to their Metals trades for a few days to a week - With the objective of making a large number of pips in profit, 100 to 400 pips.
This type of metal trader makes an average of 2 to 5 metals trading transactions in one week, holding onto their trades overnight. Swing metals trading method requires metals traders who are patient.
This type of metals trader uses the 1 hour Metals charts to put their metals orders. Swing traders use the 4H metals chart to determine the Metals trend, if it is going up or down and to decide their entry and exit.
Metal Swing Trader 4 Hour chart timeframe metal trading strategy
A metals trading swing trader using 1 hour metals candlesticks charts wants to go short, checks 4 hour metals candlesticks chart, it looks like the metal examples illustrated & described below, since it shows the metals trend is going down, the swing metals trader will then decide it's okay to Sell/Go Short metals.
Types of Metals Traders - Swing Traders - Swing Metals Trading - Swing Metals Traders
Position Metal Trading
Position Metals Traders - This type of metals trader holds on to their metals trade for weeks or months. With the aim of making a large number of pips, 300 to 1000 pips.
Position Metals Traders place an average of 2 to 5 orders in a year, position metals trading method requires those who are patient, experienced and have huge account balances that can withstand huge draw-downs.
Position metals traders use 1 day or weekly metals charts to put their metals orders. They use weekly metals chart to determine the metals trend, if it going up or down and to decide their entry and exit.
Metal Trading Position Trader Weekly metal chart timeframe metal trading strategy
Position metals trader using the daily metals candlesticks charts wants to go short, checks weekly metal chart timeframe, it looks like the metal trading example illustrated and explained below, since weekly metal chart timeframe shows the metals trend is going down, the position metals trader will then decide it is okay to sell - Go short.
Types of Metals Traders - Position Metals Traders - Position Metals Trading - Position Metals Traders
Types of Metal Traders
The most popular type of Metals trader or the best Metals trader type is the day trader & scalper metals trader depending on the method of metals trading of each trader, but these two metals trading methods are the most widely chosen metals trading methods. Scalping metal trading requires those that can make quick decisions while metals day trading is for those who want their metal trades to run for longer and have more time when making metals trading decisions. When starting it is best to try metals trading scalping or metals day trading. This metals trading methods are the best because you do not leave metals orders open for too long. At the same time you do not leave metal trades open overnight and you can trade when you have time to watch the metal market movements. In Metal it is best keep metals orders open for as long as the metals trend setup is in your direction and exit immediately once the metals trend direction starts to reverse.
When it comes to the question about which type of metals trading style is used by the best Metals traders or by the top Metals traders the two metals trading methods above are the most commonly used metals trading methods. Metals traders can also automate these scalping or day trading styles by implementing their metals trading strategies using automated metal bots.
For metals trading swing traders, leaving metals trade transactions too long can also take up your profit and this metals trading method also requires a lot of skills so it is best to stick to the short term metals trading methods for most beginner Metals traders.
Position metals trading isn't good as it requires a huge account balance & sometime it can result to huge draw-downs.
For metals trading swing trading and position metals trading methods, leaving a metals trade transaction open for too long, may mean these trades can reverse and move against you with a lot of pip movements and can even wipe your metal account, for this reason swing & position metals trading methods are not very popular. It is best to stick to metals trading scalping and metals day trading so as to better manage the funds in your metal trading account.
It is not recommended for the Metals trader who is a beginner to leave orders open overnight, it's best to always close open metals orders at the end of the day.
Metal News Traders - Types of Metals Traders - Metal News Trading - this metals trading news trader places metals orders during economic news release time, either guessing the news will be positive/negative or placing pending metals orders above & below the metal market metals price. Metal News technique is risky as volatility is massive, whilst liquidity might be non-existent. You might not get filled or, worse, your stop loss might not be honored! Metal News Trading technique can be very profitable for some metals traders but requires some skills.
Metals Trading Bot Traders - Types of Metal Traders - Automated Metals Traders - the metal trading robot trader - automated metals trader is the type of metals trader that uses automated metals trading programs known as metal trading robots - How to Trade Metal with Automated Expert Advisor Metal Bots - Metals Expert-Advisors - Automated Robots to trade the online metal market. This automated metals trader will setup an Automated Metals Trading Bot on their metals trading platform & the automated bot will then open and close trades on behalf of the trader based on the trading strategy that has been used to program this automated metal bot. If you are new to automated metal trading and would like to find a trader using automated trading robots to help you come up with an automated bot, then you can find out more about automated trading on the Metal Trading EAs Article - MQL5 Metals Trading EA Bots Forum.
