My main interest is in mid or long term trading. Ideally I can spend, say, 20 min a day to follow market currency trends and identifying long term trends, say, a major currency pair can change 3 to 10% within a few month period. For example, see the UP trend shown in the following AUD/USD chart, from early April to late Aug last year, about 10% AUD appreciation.
Once you locates such long term trend, then you can buy for a up trend, or sell for a down trend, then let it runNing until the market reverses, then you could take profits .
Assuming you have A$10k and a leverage of 20 times, then you could trade 2 lots of AUD/USD, it’s about A$200k, then you could make around A$20k in 5 months if you could keep your holding long enough and let your profit continues running without selling it too early. But this sounds too easy to make money in trading forex.
I WONDER what would prevent you to succeed the above? Thanks for your great helps.