Types of Traders: Scalpers, Day Traders, Swing Traders and Position Trading

Types of Traders

There are different types of traders. The type of a trader one is depends on the amount of time which they hold their trade transactions.

The different types of oil traders also use different chart time frames to place their crude trades.

The different types of traders are:

1. Scalpers
2. Day traders
3. Swing traders
4. Position Crude traders

Each type of trader is explained below and as a beginner trader you can decide which type of trader you want to be based on your trading personality and the chart time frame that you would want to be trading with.

Scalping Oil

The traders who are scalpers hold on to their crude 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 traders that make many oil transactions in one day and participate in oil trading during the busiest market hours of the crude trading market. A scalper oil trader can open anywhere between 30 to 50 crude trades per day.

Scalpers are traders who can make quick decisions.

Scalpers use 1 min oil charts to put their oil orders. They use 5 minutes Oil Trading chart time frame to determine the trend, if the trend is going up or down and to decide their entry and exit.

Scalper 5 minutes oil time frame oil strategy

A Scalper using 1 min oil chart time frame wants to go long, checks 5 minute chart, looks like the examples shown below, since it highlights the trend is moving up, the scalper will then decide it's okay to buy the crude oil.

Types of Traders - Oil Trading Scalpers - Scalping Oil Trading - Scalper Oil Trader

Day Trading Oil

Oil Day Trader - This type of trader holds on to their crude trades for a few hours but not more than a day. With the objective to make quite a number of pips profit, 30 to 70 pips.

The day trader makes 2 or 5 oil transactions in one day, participating during the busiest times of the market and they don't hold their oil orders overnight.

These traders use the 15 min Trade charts to put their oil orders. They use 1 hour oil chart to determine the market trend, if it going up or down & to decide their entry & exit.

Oil Day Trader 1 Hour time frame oil strategy

A Oil Trading day trader using 15 min oil chart wants to go long, checks 1 hour oil chart time frame, it looks like the examples shown below, since it highlights the market oil trend is moving up, the day trader will then decide it's okay to buy the crude oil.

Types of Trading Market Traders - Oil Day Traders - Day Trading - Types of Traders

Oil Swing Trading

Oil Swing Traders - This type of oil trader holds on to their Oil trades for few days to a week - With the objective of making a large number of pips in profit, 100 to 400 pips.

This type of trader makes an average of 2 to 5 oil transactions in one week, holding onto their trades overnight. Swing oil method requires traders who are patient.

This type of oil trader uses the 1 hour Oil Trade charts to put their oil orders. Swing traders use the 4 hour oil chart to determine the trend, if it is going up or down and to decide their entry and exit.

Oil Swing Trader 4 Hour chart time frame oil strategy

A oil swing trader using 1 hour oil candles charts wants to go short, checks 4 hour oil candlesticks chart, it looks like the examples shown below, since it highlights the trend is moving down, the swing oil trader will then decide it's okay to Sell/Go Short the crude oil.

Types of Traders - Swing Traders - Swing Oil Trading - Swing Traders

Position Oil

Position Traders - This type of oil trader holds on to their oil transaction for weeks or months. With the objective of making a big number of pips, 300 to 1000 pips.

Position Traders place an average of 2 to 5 orders in a year, position oil method requires those who are patient, experienced and have huge account balances that can withstand huge draw-downs.

Position oil traders use 1 day or weekly oil charts to put their oil orders. They use weekly oil chart to determine the trend, if it going up or down and to decide their entry and exit.

Oil Position Trader Weekly oil chart time frame oil strategy

Position oil trader using the daily oil candles charts wants to go short, checks weekly oil chart time frame, it looks like the example shown below, since weekly oil chart time frame shows the trend is moving down, the position oil trader will then decide it is okay to sell - Go short.

Types of Traders - Position Traders - Position Oil Trading - Position Traders

Types of Traders

The most popular type of trader or the best trader type is the day trader & scalper oil trader depending on the method of oil of each trader, but these two oil methods are the most widely chosen oil methods. Scalping oil and requires those that can make quick decisions while day trading is for those who want their crude trades to run for longer and have more time when making oil decisions. When starting it is best to try oil scalping or oil day trading. This oil methods are the best because you do not leave orders open for too long. At the same time you do not leave crude trades open overnight and you can trade when you have time to watch the market movements. In Oil Trading it is best keep oil orders open for as long as the trend setup is in your direction and exit immediately once the trend direction starts to reverse.

When it comes to the question about which type of oil style is used by the best traders or by the top traders the two oil methods above are the most commonly used oil methods. Oil traders can also automate these scalping or day trading styles by implementing their oil strategies using automated robots.

For oil swing traders, leaving trade transactions too long can also take up your profit & this oil method also requires a lot of skills so it is best to stick to the short term oil methods for most beginner Oil traders.

Position oil is not good as it requires a huge account balance and sometime it can result to huge draw-downs.

For oil swing trading and position oil methods, leaving a 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 account, for this reason swing and position oil methods are not very popular. It is best to stick to oil scalping and day trading so as to better manage the funds in your account.

It is not recommended for the trader who is a beginner trader to leave orders open overnight, it's best to always close open oil orders at the end of the day.

Oil Trading News Traders - Types of Traders - Oil Trading News Trading - this oil news trader places orders during economic news release time, either guessing the news will be positive/negative or placing pending oil orders above and below price. Oil Trading News trading technique is risky as volatility is massive, whilst liquidity may be non-existent. You may not get filled or, worse, your stop loss might not be honored! Oil Trading News Trading technique can be very profitable for some traders but requires some skills.

Oil Robot Traders - Types of Traders - Automated Oil Traders - the crude trading robot trader - automated trader is the type of oil trader that uses automated oil programs known as trading robots - How to Trade Oil with Automated EA Robots - Oil Trading Expert Advisors - Robots to trade the online market. This automated trader will install an Automated Oil Robot on their crude trading platform and the automated robot will then open and close trades on behalf of the trader based on the strategy which has been used to program this automated robot. If you are new to automated crude trading & would like to find a trader using automated trading robots to help you come up with an automated robot, then you can find out more about automated trading on the Oil Expert Advisors Article - MQL5 Crude Expert Advisor Bots Forum.