Types of Oil Traders: Scalpers, Day Traders, Swing Traders and Position Trading
Types of Oil Traders
There are different types of Oil traders. The type of a Oil trader one is depends on the amount of time that they hold their oil trade transactions.
The different types of oil traders also use different oil chart time frames to place their crude oil trades.
The different types of Oil traders are:
- Scalpers
- Day traders
- Swing traders
- Position Crude Oil traders
Each type of Oil trader is explained below and as a beginner oil trader you can decide which type of Oil trader you want to be based on your trading personality and the crude oil chart time frame that you would want to be trading with.
Scalping Oil
The Oil traders who are scalpers hold on to their crude oil trades for only a few minutes. With the objective of making a small amount of pips in profit, 5 to 10 to 20 pips.
Scalpers are the type of Oil traders that make many oil transactions in one day and participate in oil trading during the busiest times of the crude oil trading market. A scalper oil trader can open anywhere between 30 to 50 crude oil trades per day.
Scalpers are Oil traders that can make quick decisions.
Scalpers use 1 min oil charts to put their oil orders. They use 5 minutes Oil Trading chart time frame to determine the oil trend, if the oil trend is going up or down and to decide their entry and exit.
Scalper 5 minutes oil time frame oil strategy
A Scalper using 1 min oil chart time frame wants to go long, checks 5 minute oil chart, looks like the oil examples shown below, since it shows the oil trend is going up, the scalper will then decide it's okay to buy the crude oil.
Types of Oil Traders - Oil Trading Scalpers - Scalping Crude Oil Trading – Scalper Oil Trader
Day Trading Oil
Oil Day Trader - This type of Oil trader holds on to their crude oil trades for a few hours but not more than a day. With the objective to make quite a number of pips profit, 30 to 70 pips.
The oil day trader makes 2 or 5 oil transactions in one day, participating during the busiest times of the oil market & they don't hold their oil orders overnight.
These Oil traders use the 15 min Oil Trading charts to put their oil orders. They use 1 hour oil chart to determine the oil market trend, if it going up or down & to decide their entry & exit.
Oil Day Trader 1 Hour time frame oil strategy
A Oil Trading day trader using 15 min oil chart wants to go long, checks 1 hour oil chart time frame, it looks like the oil examples shown below, since it shows the oil market oil trend is going up, the oil day trader will then decide it's okay to buy the crude oil.
Types of Crude Oil Trading Market Traders – Oil Day Traders – Crude Oil Day Trading – Types of Oil Traders
Oil Swing Trading
Oil Swing Traders - This type of oil trader holds on to their Oil trades for a few days to a week – With the objective of making a large number of pips in profit, 100 to 400 pips.
This type of crude oil trader makes an average of 2 to 5 oil transactions in one week, holding onto their trades overnight. Swing oil method requires oil traders who are patient.
This type of oil trader uses the 1 hour Oil Trading charts to put their oil orders. Swing traders use the 4 hour oil chart to determine the Oil trend, if it is going up or down and to decide their entry and exit.
Oil Swing Trader 4 Hour chart time frame oil strategy
A oil swing trader using 1 hour oil candlesticks charts wants to go short, checks 4 hour oil candlesticks chart, it looks like the oil examples shown below, since it shows the oil trend is going down, the swing oil trader will then decide it's okay to Sell/Go Short the crude oil.
Types of Oil Traders - Swing Traders - Swing Crude Oil Trading - Swing Oil Traders
Position Oil
Position Oil Traders - This type of oil trader holds on to their oil transaction for weeks or months. With the objective of making a large number of pips, 300 to 1000 pips.
Position Oil Traders place an average of 2 to 5 orders in a year, position oil method requires those who are patient, experienced and have huge account balances that can withstand huge draw-downs.
Position oil traders use 1 day or weekly oil charts to put their oil orders. They use weekly oil chart to determine the oil trend, if it going up or down and to decide their entry and exit.
Oil Position Trader Weekly oil chart time frame oil strategy
Position oil trader using the daily oil candlesticks charts wants to go short, checks weekly oil chart time frame, it looks like the oil example shown below, since weekly oil chart time frame shows the oil trend is going down, the position oil trader will then decide it is okay to sell - Go short.
Types of Oil Traders - Position Oil Traders - Position Crude Oil Trading - Position Oil Traders
Types of Oil Traders
The most popular type of Oil trader or the best Oil trader type is the day trader & scalper oil trader depending on the method of oil of each trader, but these two oil methods are the most widely chosen oil methods. Scalping oil and requires those that can make quick decisions while oil day trading is for those who want their crude oil trades to run for longer and have more time when making oil decisions. When starting it is best to try oil scalping or oil day trading. This oil methods are the best because you do not leave oil orders open for too long. At the same time you do not leave crude oil trades open overnight and you can trade when you have time to watch the oil market movements. In Oil Trading it is best keep oil orders open for as long as the oil trend setup is in your direction and exit immediately once the oil trend direction starts to reverse.
when it comes to the question about which type of oil style is used by the best Oil traders or by the top Oil traders the two oil methods above are the most commonly used oil methods. Oil traders can also automate these scalping or day trading styles by implementing their oil strategies using automated crude oil robots.
For oil swing traders, leaving oil trade transactions too long can also take up your profit & this oil method also requires a lot of skills so it is best to stick to the short term oil methods for most beginner Oil traders.
Position oil is not good as it requires a huge account balance and sometime it can result to huge draw-downs.
For oil swing trading and position oil methods, leaving a oil trade transaction open for too long, may mean these trades can reverse and move against you with a lot of pip movements and can even wipe your crude oil account, for this reason swing and position oil methods are not very popular. It is best to stick to oil scalping and oil day trading so as to better manage the funds in your oil trading account.
It is not recommended for the Oil trader who is a beginner trader to leave orders open overnight, it's best to always close open oil orders at the end of the day.
Oil Trading News Traders - Types of Oil Traders - Oil Trading News Trading - this oil news trader places oil orders during economic news release time, either guessing the news will be positive/negative or placing pending oil orders above & below crude crude oil price. Oil Trading News trading technique is risky as volatility is massive, whilst liquidity may be non-existent. You may not get filled or, worse, your stop loss might not be honored! Oil Trading News Trading technique can be very profitable for some oil traders but requires some skills.
Oil Robot Traders - Types of Oil Traders - Automated Oil Traders - the crude oil trading robot trader - automated oil trader is the type of oil trader that uses automated oil programs known as oil trading robots - How to Trade Oil with Automated EA Crude Oil Robots – Crude Oil Trading Expert Advisors - Robots to trade the online crude oil trading market. This automated oil trader will install an Automated Oil Robot on their crude oil trading platform and the automated robot will then open and close trades on behalf of the oil trader based on the strategy that has been used to program this automated crude oil robot. If you are new to automated crude oil trading & would like to find a Oil trader using automated trading robots to help you come up with an automated robot, then you can find out more about automated trading on the Oil Expert Advisors Article - MQL5 Crude Oil Expert Advisor Bots Forum.
