29 March, 2016
The longest term trading is called Position Trading and can have trades that last for more than a few months to a number of years. This type of forex trading is set aside for the ultra-patient traders, and needs a good understanding of the fundamentals.
Since position trading is held for longer time, fundamental themes will be the predominant focus when analyzing the markets. Fundamentals command the long term trends of currency pairs and it is significant that you know how economic data influence your countries and its future point of view.
For the reason of the extensive holding time of your trades, your stop losses will be very huge. You have to make sure that you are well capitalized or you will most be expecting to have Margin called.
You are also expected to have thick skin in Forex position trading because it is particularly that your trades will go in contrast to you at one point or another, and it will not be a little retracement either.
You may encounter huge swings and you should be ready and have complete trust in your study in order to stay calm during these period. Learn about money management to have an idea of how much money you should have in your trading account.
The initial steps in selecting a broker is finding out what your options are. You don’t just sign up and do it right away. Not unless you know what to do already. Even so, a further study is a much better choice and knowing your forex broker types is very important...
Did you know that even certain brokers were scammers? Do you know that scammers are everywhere? Believe it or not, there are some brokers who cheat on their clients...
If you have tried using demo account and have been using a live account, you would know that executing is much easier on a forex demo account...
The most common form of technical analysis in forex trading are probably the Trend Lines. They are also possibly one of the most underused ones...
A moving average is a way to smooth out price movement over time. It basically means taking the average closing price of a currency pair for the last X number of periods...
It is very important to be your own trader and to never follow someone else's trading assistance carelessly without entirely knowing about it. The methods that work for them might not work for you.
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