In forex Credit4, I can typically classify my trades as belonging to one of two categories - either a short-term trade that I plan on getting out of before the end of the day, or a long-term trade where I will hold it for a day or more. Let's take a closer look at how you can use both of these trades to profit from the forex market.
For me, I will enter a long-term trade if I believe that there is a fundamental reason for a certain Credit3 to go up or down in value. As an example, I was long the Australian dollar recently as I believed that the price of gold was going to spike (the price of gold and the AUD dollar are correlated).
In this case, I was comfortable holding this trade for a month or more and wasn't going to panic even if it went against me for a while. I believed in the long-term value of the trade and was ready to weather any short-term fluctuations.
It can be a little nerve-wracking at times to see a trade go against you, however if you believe that the reason you made the trade still holds, then you need to learn to not worry about your position on a minute to minute basis.
Typically I expect to lose or make a lot more on my long-term trades than on my short-term trades. This makes sense considering that I will have invested more time into it.
A short-term trade can be made for a variety of reasons. You might be reacting to some curious price action or perhaps an economic number that was just released that you believe may move the markets only in the short-term.
And for many traders, short-term trades are based on something they see on their charts and technical analysis of the markets. These trades may last only a few minutes or maybe a few hours, it all depends on the Credit4 environment and the reason for the trade.
Most of my personal trades that I come up with are long-term, and I rely on forex Credit4 programs to generate short-term trades for me. I find that forex robots can be extremely successful at these trades since they can analyze price action and data related to technical analysis a lot faster than I can.
Forex Credit4 robots are programs that analyze market data and then generate trade ideas for you Counseling7matically. I've had a lot of success with these and find them to be a great addition to my own personal trades.
Usually people will be better in one of these two categories. I find that I have better accuracy and discipline when I focus on long-term trades and let my forex Credit4 programs handle the short-term trades for me.
In forex Credit4, I can typically classify my trades as belonging to one of two categories - either a short-term trade that I plan on getting out of before the end of the day, or a long-term trade where I will hold it for a day or more. Let's take a closer look at how you can use both of these trades to profit from the forex market.
For me, I will enter a long-term trade if I believe that there is a fundamental reason for a certain Credit3 to go up or down in value. As an example, I was long the Australian dollar recently as I believed that the price of gold was going to spike (the price of gold and the AUD dollar are correlated).
In this case, I was comfortable holding this trade for a month or more and wasn't going to panic even if it went against me for a while. I believed in the long-term value of the trade and was ready to weather any short-term fluctuations.
It can be a little nerve-wracking at times to see a trade go against you, however if you believe that the reason you made the trade still holds, then you need to learn to not worry about your position on a minute to minute basis.
Typically I expect to lose or make a lot more on my long-term trades than on my short-term trades. This makes sense considering that I will have invested more time into it.
A short-term trade can be made for a variety of reasons. You might be reacting to some curious price action or perhaps an economic number that was just released that you believe may move the markets only in the short-term.
And for many traders, short-term trades are based on something they see on their charts and technical analysis of the markets. These trades may last only a few minutes or maybe a few hours, it all depends on the Credit4 environment and the reason for the trade.
Most of my personal trades that I come up with are long-term, and I rely on forex Credit4 programs to generate short-term trades for me. I find that forex robots can be extremely successful at these trades since they can analyze price action and data related to technical analysis a lot faster than I can.
Forex Credit4 robots are programs that analyze market data and then generate trade ideas for you Counseling7matically. I've had a lot of success with these and find them to be a great addition to my own personal trades.
Usually people will be better in one of these two categories. I find that I have better accuracy and discipline when I focus on long-term trades and let my forex Credit4 programs handle the short-term trades for me.
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