Different Types of Trading
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 cryptocurrency trades.
These traders also use different chart time frames to place their cryptocurrency trades.
The different types of bitcoin traders are:
- Scalpers
- Day traders
- Swing traders
- Position BTCUSD traders
Scalper Bitcoin Traders
Scalpers are traders who hold onto 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.
Scalpers make many trades in one day, trading bitcoin during the busiest times of the day.
Scalpers are traders who can make quick trading decisions.
Bitcoin Scalpers use 1 min charts and 5 minutes charts to place their trades. They use 5 min chart to determine the bitcoin trend, if it going up or down, then use 1 min chart to decide their entry & exit points.
Day Traders
Cryptocurrency Day Traders are the traders that hold onto their open trades for few hours but not for more than a day. With the main aim of making quite a number of pips profit, 30 to 70 pips
Day 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 traders use 15 min charts and 1H charts to lace their cryptocurrency trades. They use 1H chart to determine the bitcoin 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 cryptocurrency trades for few days to a week. With the objective of making a big number of pips, 100 to 300 pips
Swing traders make an average of 2 to 5 trades in one week, holding onto their open cryptocurrency trades overnight. Bitcoin swing trading requires traders who are patient.
Swing traders use 1H charts and 4H charts to place their cryptocurrency trades. They use 4H charts to determine the trend, if it going up or down, then use 1H chart to decide their entry and exit.
Position BTCUSD traders
These are traders who hold onto their trades for weeks or months. With the aim of making a large number of pips profit, 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 that can withstand huge drawdowns.
Position traders use 1 day and weekly charts to put their trades. They use weekly charts to determine the bitcoin trend, if it going up or down, then use Daily chart to decide their entry and exit.
What type of BTCUSD trader is the best?
Most popular type of 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 trading methods are most suitable for beginner traders.
Scalping trading is also popular among traders.
Position 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 Traders? - Different Types of Trading - Types of Trade Styles - How Many Types of Trading are There
