Help for FOREX trading
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  1. #1
    Join Date
    Feb 2007
    Posts
    9

    Default Help for FOREX trading

    Hi Friends
    Since Forex oscillates on a daily basis, can I position trade currencies? By which I mean, use weekly or monthly charts. I have read that day traders rarely make any gains. Is swing trading the only possibility? My interest is in the GBP/USD currency pair.

    Kindly help.

  2. #2
    rhodytrader's Avatar
    rhodytrader is offline FX-Men Honorary Member
    Join Date
    Dec 2006
    Location
    Exeter, UK
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    2,592
    You can trade any timeframe you want. I personally do mostly longer-term position trading (holding periods of weeks), but sometimes trader shorter-term as well.

  3. #3
    bongrak's Avatar
    bongrak is offline Newbie
    Join Date
    Apr 2007
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    16
    Personally, beside my long term carry trade and hedge, I like short term trade better. And I love ranging market better than trend.

    May be you can try Carry Trade and hedge too. I am doing it very successfully for over a year now.
    Here is the simple method:

    There are so many trading systems available to Forex traders. Some system are free, some costs thousands of dollars to purchase. Almost all of them use some kind of technical indicator. Almost all system is trying to speculate where the market will move and thus trade in that direction in hope to make profit.

    Well, the system I am sharing is a little difference. The purpose is not to beat the market, but the strategy is to hold position in such a way that neutralizes the affect of the market and thus we can collect fat interest every day.

    If do it correctly, this system has low risk and produce consistent profit.

    The strategy is very simple, Long (buy) the highest interest paying pair (gbp/jpy) at the broker that pay the highest interest rate and Short (sell) this same pair at another account that charge no interest.

    That’s it! You don’t need to read chart or setup indicators. If you hedge 1 lot, you are making $26 a day and if you do 10 lots, you are making $260 per day 7 days a week (you earn interest even on Saturday and Sunday).

    If you need high interest paying account or no interest account, email me at bongrak@yahoo.com
    Last edited by bongrak; 04-18-2007 at 12:57 PM.

  4. #4
    dollareuro's Avatar
    dollareuro is offline Master Contributor and Member
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    Mar 2013
    Location
    Toronto
    Posts
    503
    Quote Originally Posted by davis9786 View Post
    Hi Friends
    Since Forex oscillates on a daily basis, can I position trade currencies? By which I mean, use weekly or monthly charts. I have read that day traders rarely make any gains. Is swing trading the only possibility? My interest is in the GBP/USD currency pair.

    Kindly help.
    Hi devis

    I trade 4h charts and most of the time use market execution...PA is what I am upto...

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