Holding Position for more than 24 hours?

Beginner Questions
1

I’m just learning forex and am finding myself in a struggle of whether to try and scalp in a couple minutes or to judge long term trades such as a couple days to weeks. I’ve heard the pros and cons of each side. I like longer term because its not as nerve racking , however even with a trailing stop you have to be right on the direction to be profitable. What do you guys think ?

Also what do you think of EUR/USD after this mornings major move? I was bearish but now I’m not sure.

2

The only time I trade for less than 24 hours is if there’s a retracement that takes out my stop, my average trade is about 6 days

3

Same advice (y)

4

I have the most success trading between 3 and 5 days although I’ll trade on the hourly chart if there is an event that drastically moves the market, like the ECB announcements today.

5

My trades are 4 hours to max 3 days. Trading the M1 and M5 EURUSD.

6

I think you should never be Bearish of Bullish. The price determines how you should trade. Your own opinion is just one of the many. You should not predict where the horde should be running to, you should notice when they make a turn and prepare to run with them.

7

Everyone is going to have a different approach to trading. You need to figure out what “works” for you, based on:

Funding
Time available to sit behind the charts
Time available to research the markets
Risk appetite
Short/Med/Long term goals
Hardware

etc etc