Types of Bitcoin Trade Styles
Types of Bitcoin Traders: Scalper Bitcoin Traders, Day Bitcoin Traders and Swing Bitcoin Traders
There are different types of Bitcoin traders depending on the amount of time that they hold their open cryptocurrency trades.
These bitcoin traders also use different chart time frames to place their cryptocurrency trades.
The different types of bitcoin traders are:
- Scalpers
- Day bitcoin traders
- Swing bitcoin traders
- Position bitcoin traders
Bitcoin Scalpers
Bitcoin scalpers are the traders that hold on to their open cryptocurrency trades for only a few minutes. With the objective of making a small amount of pips as profit, 10 to 20 pips.
Bitcoin scalpers make many trades in one day, trading bitcoin during the busiest times of the day.
Scalpers are bitcoin traders that can make quick bitcoin trading decisions.
Bitcoin Scalpers use 1 minute bitcoin charts and 5 minutes bitcoin charts to place their trades. They use 5 min bitcoin chart to determine the bitcoin trend, if it going up or down, then use 1 min bitcoin chart to decide their entry & exit points.
Day BTCUSD Traders
Cryptocurrency Day Traders are the traders that hold on to their open trades for a few hours but not more than a day. With main aim of making quite a number of pips profit, 30 to 70 pips
Day bitcoin traders make 1 or 3 trades in one day, trading bitcoin during the busiest times of the day and they don't hold their open cryptocurrency trades overnight.
Day bitcoin traders use 15 min bitcoin charts and 1 hour bitcoin charts to lace their cryptocurrency trades. They use 1 hour bitcoin chart to determine the bitcoin trend, if it going up or down, then use 15 min bitcoin chart to decide their entry & exit points.
Swing Bitcoin Traders
These are the traders that hold on to their open cryptocurrency trades for few days to a week. With the objective of making a big number of pips, 100 to 300 pips
Swing bitcoin traders make an average of 2 to 5 trades in one week, holding onto their open cryptocurrency trades overnight. Bitcoin swing trading requires bitcoin traders who are patient.
Swing bitcoin traders use 1 hour bitcoin charts and 4 hour bitcoin charts to place their cryptocurrency trades. They use 4 hour bitcoin charts to determine the trend, if it going up or down, then use 1H chart to decide their entry and exit.
Position bitcoin traders
These are the traders who hold onto their trades for weeks or months. With aim of making a large amount of pips profit, 300 to 800 pips.
Position bitcoin traders make an average of 2 to 5 trades in a year, Position trading requires bitcoin traders who are patient, experienced & have huge account balances that can withstand huge drawdowns.
Position bitcoin traders use 1 day and weekly bitcoin charts to put their trades. They use weekly bitcoin charts to determine the bitcoin trend, if it going up or down, then use 1 day bitcoin chart to decide their entry and exit.
What type of BTCUSD trader is the best?
The most popular type of Bitcoin trader is the bitcoin day trader & bitcoin swing trader. When beginning its best to try bitcoin day trading & with some experience try bitcoin swing trading. These bitcoin trading methods are most suitable for beginner cryptocurrency traders.
Scalping bitcoin trading is also popular among cryptocurrency traders.
Position bitcoin trading is not very popular because this type of trading requires a huge bitcoin trading balance and sometime it can result to huge bitcoin draw downs.
What Are Different Types of Bitcoin Traders? - What are Different Types of Bitcoin Trading - Types of Bitcoin Trade Styles - How Many Types of Bitcoin Trading are There
