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