new goals and targets, especially when it comes to trading. This is always the ideal time to look over our rules and define our actions for the year ahead. With that in mind, I wanted to cover a question I get plenty of times about the best ways to approach FX trading. There is no better time than now, I guess, to dive right in.
With that now said, let us talk about the different trading styles we can use to trade these currency markets.lends itself well to all three styles of trading available: Intraday, Swing and Position Trading. Here at Online Trading Academy, we also like to refer to Position Trading as Pro-Active Investing. Let’s take a look into each of the three styles, along with the pros and cons associated with each.
The downside to this type of trade is mainly in the fact that position trades do not present themselves very often and much time is spent waiting for them to trigger. Capital is also tied up for a considerable length of time, yet due to the leveraged nature of FX, this is a reasonable amount. The final issue I would say, is that these trades do require a larger risk in pips, but the reward is that much higher in comparison.
Do you notice how many more trades there were on this chart? Sure you will not win them, all but when it comes together you can see how lucrative it could be, even with some losses in the mix. Patience and discipline, as I said before, are the name of the game here. On the other hand, if you attempt to trade the more volatile pairs like GBPNZD in this style, you are inviting yourself to be chopped to pieces.
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