Hello there everyone 
I mainly trade stocks and hold positions for larger time frames
I was wondering What currency pairs to most of you trade? and do any do long term? i plan on taking long positions for say approx 6 months,
What does everyone think as we all know forex is VERY volatile
and what currencies do you think will Appreciate/depreciate?
Hello Karobasales!
Well, excellent questionā¦ The problem is: how long is a piece of string?
Meaning, the question we should ask before trading a currency in the long term is this:
how does it look short term (up to a week), medium term (up to a month), and then long term (up to a year)?
The truth is, for long term you have to have a LOT of patience, watching and waiting BEFORE entering a trade,
to see if year-long levels are being honoured or broken, and THEN go in for the killā¦
I was hopeful for AUD/NZD at the beginning of 2014 but then AUD bomb-dived, so that pair is not looking so hot
any more; my favourite āsafeā long term trade is EUR/GBP, actually, as it has been diving for many months within
a well-defined channelā¦
As for volatile, stocks are historically much more volatile than Forex, according to general consensus, but do not
quote me on it!
hmm interesting? i was think more minors, like the mexican peso, etc, as i beleive the forcast for these look to be good in the near future?-possibly
Not the majour currencies
What do you think?
do you do much stock trading aswel?
i do want to learn more about forex, i am used to the stock market more and hold positions for minimium 12 months on uk equities mainly
It really depends on your trading personality and how long you plan to hold on to the trade. If youāre a technical trader and youāre willing to hold on to a trade for days or weeks, then I suggest you look at yen pairs. If youāre a scalp trader looking to make quick pips on volatile moves, then EUR/USD or GBP/USD might be the way to go.
Iām long term trader. Most of the time my pairs last from 6 month to a year. Sometimes itās less and sometimes it is even more than e year so it really depends. Iām a trend trader and I only have max 50 trades a year. I trade every pair where there is a momentum. Patience is key in long term investing. You have to think that youāre a sniper who is willing to kill with a headshot and that is what Iām aiming for in forex. Take a trade with a headshot and let the profits running in my favour. Still there will be some losing trades but not much.
Good luck
very interesting
Would you share some of your current positions if thats ok
And how many pips do you accumalte on say a position which you have held for a year
Thanks
I think INR/USD traded mostly.
Long term trading is a matter of experience. For this we need a lot of trading practice and good market watch so that we find right time for this purpose. With low experience and skill long term trading is not possible. It is profitable with certain skills and account management strategies.
Your time plan depends on the time frame you use to trade in. on my orders there are some orders I plan them on base of the weekly or daily chart, actually there are at last two orders (EUR/JPY short and GBPJPY short) I plan they will open about in the next month and will close up around january 2015, based on the traded pattern (itās a failure swing), I plan to ācutā half of the order on 161,8 Fibonacci and move also my stop loss and waiting for the 261.8 Fibo for hitting my Take profit. EURJPY Weekly:
I prefer to trade USD/CHF in long periods. Less-volatile based on suggestion that CHF is quite steady currency
One of the most successful currency trader Bruce Kovner remarked with enough money you canāt loose in the FX market. You can just set impossible ceilings and floors that will take the market decades to reach if at all. A buy or sell is irrelevant. In the longterm all the western currencies are devaluing and the emerging currencies are rising with most ditching their peg to the USD in the longterm the currencies of the BRICās nations are bound to gain in value.
So I guess trading is easy from then on.
Stop Loss on EUR/USD is 1.8000
Short Sell now
Take profit at 1.2000 and buy limit at 1.2000 for a TP at 1.3400
Head to the Bahamas for a vacation. Your kids can cash in a few years from now.
I prefer to speculate on daily charts max. :13:
