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