The Challenges Of Day Trading Forex Strategies

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Profits always come with Forex strategies whether it is short term or long term Forex strategies. Whatever strategy is adopted, what is important is to keep following up the trends and signals to make sure that the right decision is done right on cue. One is welcome to do day trading, swing trading but with repeated trades in day. A trader who can’t sit down with 100 percent focus on the computer for one reason or another must better go for long term Forex strategies.

Long term Forex strategies are associated with less demands in a different sort of way compared to the rigors and intensity of the short term strategy. Patience and discipline are needed to be able to wait up before ensnaring the huge catch for maximum profits. It also calls for a decent funding because the funds can stay wrapped up in security for a long period of time. Hence, the one who rule long term games are the big organizations like banks and hedge funds with more capital and are set up for such strategy.

It does not take too much time to engage in trading using long term strategies because one or two trades per week are all one can expect. It is usually advisable to look at the 4 hour chart to check on about 19 currency pairs every time for about 20 minutes. This is definitely a far cry compared to the intensity and stress involved in short term Forex strategies. Long term Forex strategies are also profitable as they can probably give you 100 to 200 pips in one trading occasion compared to mere 10 to 20 pips a day for short term strategies. The long term strategies make more on the outset because that is built around weekly or monthly positions.

If there is eagerness to observe and to practice long term Forex strategies, a second demo account can be opened for it. Shifting to long term strategies will come in time as you build funds and patience along with it.

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