Forex strategy trading is not a one-size-fits-all sort of stuff as every individual trader checks out ways and means that suit them for making money. It is a big challenge to decide on the best strategy as it could range from mere fundamentals that many opt for to the technical that are number crunchers. But with the advent of the latest software and state of the art technology, you have all the information and data at your fingertips.
Decisions have to be taken in split seconds
Fixing up a strategy is vital to make money in speculative trading and currency trading requires real time application. The market is more volatile than any other speculative trading platform and decisions have to be taken in a flash. Currency trading forex is usually done for the short term or even intraday depending on the preference of the individual trader.
But most beginners do not want to involve themselves in too much technical and go for day trading instead. The ultimate aim is to make money in forex strategy trading that is making many people coast to coast opt for the online version of making money that is fast catching up. In day trading you can make money like no other form of speculative transaction as you simply hop on to a running bus and get off after a while.
It is like buying and selling on the same day in a matter of seconds to a couple of hours. The other strategy is on a weekly or a monthly basis after you are confident of the right time of the downswings and the upswings over a period of time. Forex strategy trading can also be selling short if you are trading during the day. You can buy the currency pair at a price anticipating a downswing from the trends.
Make 100 pips monthly or 80- pips daily
It is easy to spot once the price settles below the top level and refuses to break open. You can then expect a downward spiral to take place and sell off a lot. Once the price falls, you buy up the lot and make a profit from the difference. The movement can be fast and you need to think on your feet in this type of trade in currency exchange forex.
By investing on a monthly basis, you can make a killing once you are aware of the price movement over a long period of time. You need a clear idea of all the forex strategies to attempt this sort of trading and beginners are advised to stay away from holding very long positions.
You can make 100 to 200 pips in a single deal and the period could range from a week to a month. But you can also make around 60 to 80 pips in intraday forex strategy trading.
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