Can You Hold A Position For A Year Or Longer? Will Oanda Let Me Do that?

Beginner Questions
1

I make a big bet on the FOMC meeting dragging the dollar down. So I take up long positions in the GBP/USD and the NZD/USD and made about $1000 with my $2000 account. But I lost all betting that the USD/JPY would make a 50% retracement. It eventually did but my stop loss was triggered before it happened.

I’m frustrated that scalping is not going as well as I want it to and it seems at best a 5%-10% edge per month is possible, and that’s only achievable by the top 5% of traders.

I noticed that if you had bought USD/JPY last year at 77.00 you’d be up around 2000 pips. Which would be a gain of 100%-1000%+ depending on how much leverage you use.

Now how many scalpers can make 100%-1000% a year?

Despite losing all my profits today I did get a chance to enter at 97.85 later on and take a sizable position of 37,000 units.

Is it possible to hold this position for a year or more as long as the price never drops below 97.85? My broker is Oanda.

I believe the USD will gain over the JPY over the long run because both countries are employing QE but America has a fundamentally stronger position because of Geography, Demographics, and it’s wealth in natural resources.

Of course I’m going to ask my Broker. But I just want to get validation from an outside source.

2

You could hold that position for 5 years. Be careful of extended times on roll fees though. UJ won’t be terribly expensive, but if you’re the wrong way on an Aussie or Kiwi trade, it could eat your profit up.

3

I’m holding onto to a USD/CNH short that I got into a few months ago. I like the positive carry on it, so I don’t mind holding on to it forever. I’ll let you know how it goes in 5 years. :57:

4

Hope stop loss in place :slight_smile: . Good luck with it mate