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