Four Types of Gold Traders
Four Types of Gold Technical Analysis Traders
The four types of gold methods for technical analysis traders are: gold scalping, gold day trading, gold swing trading & gold position trading.
Gold traders learn and master one gold trading style that best suits their gold trading schedule.
Scalping Gold Trading
Scalping gold trading is used by traders who set small gold trading profits repeatedly & trade many trades during the day so as to make these small profits many times repeatedly throughout the day.
Gold scalpers set and open gold trades that lasts from a few seconds to minutes. This gold scalping strategy tries to make profits from small changes in the gold price. Gold traders who use these methods are those gold traders that find it easier to make profits from small gold price moves rather than from the large gold price moves.
Gold Scalpers will make many gold trades in one day & gold scalpers can open anywhere between 10 -20 gold trades in a day or even more.
Gold Day Trading
Day Trading is used by traders who open & close gold trades within the same day. Gold day traders will close their open gold trades within the same day and gold day traders do not hold overnight gold trade positions - gold trades are opened only for a few hours & closed within the same day.
A gold day trader will open gold trades and close all gold trades before the gold market closes.
Gold day traders will also try to catch small to medium gold trading profits per gold trade. These gold day traders will try to profit from small to medium moves in the gold price movement. Gold day traders will generally open between 3 to 5 gold trades in one day.
Gold Day Trading is also sometimes referred to as gold intraday trading.
Gold Swing Trading
Gold Swing Trading is used by traders who want to capture the short term gold price trends and profit from these short term gold price trends.
Gold Swing Traders will open a gold trade and leave this gold trade open for several days so as to capture the short term gold market trend momentum & make profit from the short term gold market trend momentum.
Scalper gold traders will determine the direction of the short term gold market trend and then place gold trades in the direction of these short term gold market trend so as make profit from the medium gold price changes.
Gold swing traders will keep a gold trade open for a few days & these gold trades might last from 3 days to 7 days on average.
Gold Swing traders will open a few gold trades in a week & these gold swing traders may open anywhere between 3 to 5 gold trades in one week.
Gold Position Trading
Gold Position Trading is used by traders who want to capture the long term gold price trends and profit from these long term gold price trends.
Position gold traders will keep their gold trades open for weeks or even months.
Position gold traders will try to make profit from the large gold price changes in the gold price. Gold position traders will try to determine the long term gold trend and place gold trades so as to profit from the momentum of the long term gold trends.
Gold position traders will keep a gold trade open for a few weeks to a few months & these gold trades may last from a few weeks to a few months on average.
Gold position traders will open a few gold trades in a year & these gold position traders may open anywhere between 5 to 10 gold trades in one year.
Differences between Gold Scalping, Day Trading, Swing Trading & Position Trading
The differences between gold scalpers, gold day traders, gold swing traders & gold position traders are:
Gold scalpers - goal is to profit from short term gold price fluctuations and not from the medium term gold trend or long term primary gold trend
Gold day traders - goal is to profit from short term gold price fluctuations and not from the long term primary gold trend
Gold swing traders - goal is to profit from the momentum of a swing trend intermediated gold trend rather than from the long term primary gold trend rather or from the short term gold price fluctuations
Gold position traders - goal is to profit from the long term primary gold trend rather than from short term gold price fluctuations
Differences between Gold Scalping, Gold Day Trading, Gold Swing Trading & Gold Position Trading
