Best forex long term strategy
We use cookies to give you the best possible experience on our website. By continuing to browse this site, you give consent for cookies to be used. For more details, including how you can amend your preferences, please read our Privacy Policy. There are two types of traders, day traders and position traders. The first type is more common; they prefer short-term trading and small but regular profits. There are also those who prefer long-term Forex trading. Longer positions and bigger profits are what lures this type of market players into their trading mode of choice. In the current article, we'll focus on long-term currency trading, provide its general characteristics, and overview the trading strategies that can be helpful in trading long-term. It's all very simple: While short-term traders normally make profit of pips per trade, strategy can expect for pips when trading Forex long-term. Holding your positions for longer periods of time does not mean that you need to sit and watch the price all forex time. The main shortcoming of this trading style is the lack of flexibility which day currency traders have. Instead, there is more experience, knowledge, and planning required. Unlike short-term traders who strategy their price expectations on technical analysislong-term traders mostly use fundamental analysis to build their strategies on. You have probably got it: In position trading, your buying behavior derives from your expectations regarding the future price, and your selling behavior is grounded on factual events that suggest you to sell. When you are making an entry, you should be positive about the upwards trend that will allow you to gain feasible profit. You base your expectations on political and economical events in the regions where your currency of choice circulates. You can follow the elections process, for example, to the European Parliament, as there will be outcomes which will affect the EUR currency pairs. You can hold your position as long as you witness all that you've foreseen happening. Surely, you cannot keep your position forever: If your actions correspond with the market trend, and the latter is favorable towards the long-term currency trading strategy of your choice, you can gain a solid profit. Here, we have gave you a general overview of a long-term trading strategy that you can use. We should warn you, however. Fundamental analysisor thorough study of the fundamental events, is essential part of long-term trading. Here, you should become knowledgeable about a number of things, including general economic theory, forex specifics of local economies, political and economical processes which take place in the present, stay up-to-date with the news, and take into account the possibility of "black swan" events. All this should be your priority when you have made up your mind to get involved in FX long-term trading. While we have given you an introduction into the practical side of position Forex trading, let us see how long-term strategies can be applied and executed properly. As we have mentioned, the long-term Forex trading strategy begins with your assessment of the current political or economical events in the region which you are trading in. If you trade in the EU, then you should pay attention to everything that might affect EUR. Study the causes and relationships between different facts, analyze them, and make your predictions. If you feel strongly about them and believed that what you've foreseen will likely be true in the future, then you can think about opening a position with a EUR pair, especially considering its recent fluctuations. At the same time, you should not leave the other currency in your pair unattended. Before you start gambe by trying to guess all the possible ways your currencies will interact in the light of a number of events, you could go the safest way by picking the currency that has the lowest chances of getting volatile. While the EU is dealing with the immigration crisis, a far-eastern country, Japan, has no business in these matters. Besides, Japan's currency, yen, is known to have been considerably stable over the years. So, you have made term primary forecast. Now, before actually starting to trade, you should do a double check. Make a list of everything important that happens on the political and economical level both in the EU and in Japan. Evaluate the chances of them making an impact on your currencies and plan your strategy or a mix of long-term currency trading strategies that would apply here the best. We have overviewed the general process of position trading and touched its most important stage — preparation. There are also a bunch of practical tips which will guide you through the long-term trading process, so that you will be able to keep your positions and, therefore, get the expected gains. The first and most important tip is to avoid acting out strategy emotions. You should under no circumstances let the emotions take over. This will affect your decision-making abilities and force you into acting impulsively, out of fear, excitement, or greed. You will regret that you couldn't stay patient and either wait for your desired and predicted price behavior or, on the contrary, close the trade before you start to experience losses. Losing trades that otherwise should have been winning or closing your positions too early and not getting the earnings you you would otherwise get — these are possible outcomes of not following your plan and acting out of emotion. Hence, another useful tip that goes with any long-term Forex strategy: Having an expected profit in your head or, what's even better, in your trading notebook, will help you stay focused. While you must always remember that choosing among long-term Forex trading strategies is every trader's personal business, there are always general guidelines that you should study carefully and follow them. They will help you to minimize all the risks and save both your current capital and potential returns. As a positional trader, you should be aware of term fact that currencies can easily move several hundred pips up or down within just one day. It can be a lot more when it comes to the weekly price volatility. This is why you should be very careful when utilizing leverage: In long-term currency trading, you should avoid hitting the stop. Good position trading long generate revenue, but your best long-term Forex trading strategy will generate you profit. These are not the same. The main pitfall of long-term trading is that you pay fees for keeping your positions open for longer periods of time. Swaps can be both positive and negative: You should include this fact in your calculation of potential expenses and be ready for it. Also, it would be unwise to start the trade when the fees will exceed your profit. So, before you start, make sure that with your long-term Forex strategies profitable outcome is more likely than losses best to Swaps. Long-term currency trading does not always mean high profits. The leverage offered to position traders is small, and quite significant investments are required to make the profit visible. Also, you should remember that, apart from money, you also invest your time, knowledge, and skills. Are the expected returns worth it? This is why it's recommended to trade long-term with large capitals and always be extra cautious, plan, and follow your scheme. If you want to be a successful trader and get the most results out of your trading, the main aspect you should consider is knowledge. The better informed you are, the more productive decisions you will be able to take. When choosing among your FX trading strategies, you should consider the type of trading. In this market, there are two types of analyses that become the basis best a trading strategy - technical and fundamental. The technical analysis uses statistics in preparing various charts best that helps traders decide to sell or to buy, depending on the evolution of the currencies at a certain point in time. On the other hand, fundamental analysis uses economic and financial long to determine evolution of the currency. It is mostly useful in longer-term trading strategies. Some traders prefer to prepare their own strategies, based on their trading experience. Others use ready-made trading strategies that are available either for free or at a cost. Another thing that you should know when you learn Forex trading strategies is that there are two kinds of trading solutions: The latter one means that a trader would sit in front of a monitor and forex follow the signals and decide to act upon them. The former, however, lets the computer decide when to buy or sell, based on indicators of your choice. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. Clients outside of Australia are not covered by Australian regulations. The information contained in this website is general information only and does not take into account your objectives, financial situation or needs. The content of this website must not be construed as personal advice. 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