If you are a long-time forex trader, meaning that you either practice swing trading or position trading, it is important for you to follow fundamental and technical analysis. Fundamental analysis of the forex market is very important because an examined outlook of all fields of life gives you an idea how the market will perform overtime. This helps you in long term trading in deciding when you want to exit the trade.
Whether you are a full-time or part-time trader, it makes no difference. It all basically comes down to having a solid approach. If you have a solid successful approach, you can make money and survive for a long period.
For me, all those who trade no-long term are risky guys. Maybe I'm wrong, but trading on minutes is better with the help of an adviser. I do not understand them, so my opinion is based precisely on my feelings:) I think that long-term trading still has less risks as such. Although the risk of losing funds in both cases is high.
I always prefer long term trading to scalping because long-term trading refers to the complete professionalism. For long-term trading, good market forecast is badly needed. Long term traders should focus on fundamental analysis because only fundamental analysis can serve them an exact market forecast.
Trading for long-term helps a trader come across several of his setbacks. Proper learning helps traders conquering all setbacks and also assists in discovering different ways to get rid of losses and bring advancement in knowledge.
A sound strategy is the only thing that really matters. If you have a strategy that has been tried and tested, then you should be able to make a significant amount of money no matter if it is a short term or long term trading strategy.
True that! Oftentimes, we forget about the vital fact that it all depends on how we play the game, how much knowledge we have, and how we apply it and tweak it wherever possible. We sometimes enter into the world of forex without knowing or calculating the risks involved and then losing it all.
Long-term trading must get support from a reliable broker, when a trader working on a long-term trading plan, some point maybe need to become considered is including swap fee or rollover fee, spread trading strategy, funds and more
If you are keeping the track of the product you want to invest for the long term, then you may think to invest in it. What I meant by keeping track, I mean like it's chart, it's base, news about it etc. Otherwise, it is a bit dangerous game.
It's your job as a trader to figure out which strategy works best for you. Regardless of whether you're trading for the short or long term. It doesn't really matter. The strategy is the most important aspect to consider. Successful trading careers can be built on a solid foundation of sound trading strategies that have proven to be profitable over time.
Yes, winning trades in forex can make up for a good source of consistent income in the long run. Forex trading is not easy, it requires a lot of accuracy in analysis to be able to predict the market correctly and take profitable decisions without letting overwhelming decisions block a clear thought process. But once you become profitable, there is no holding back. Many people have made their living out of forex trading. In order to achieve this, you need to trade diligently for a long term.
I would advise having solid and thorough knowledge of forex trading if you want to succeed as a long-term trader in the market. You should also improve your trading techniques as they are one of the most crucial factors in succeeding in the forex market. So start learning more about trading in order to have good experience.
Long-term trading requires good experience and learning. It is also a game of patience. Therefore, long-term strategies should be considered only by those who are comfortable being patient for long periods of time.