Short-term trading offers tremendous upside. At the same time, the practice is also extremely risky. Request permission to reuse content from this site.
Undetected location. NO YES. Selected type: E-Book. Added to Your Shopping Cart. View on Wiley Online Library. This is a dummy description. Hugely popular market guru updates his popular trading strategy for a post-crisis world From Larry Williams—one of the most popular and respected technical analysts of the past four decades— Long-Term Secrets to Short-Term Trading, Second Edition provides the blueprint necessary for sound and profitable short-term trading in a post-market meltdown economy. The trading plan is preparation, strategy, and technique all rolled up into one.
You have to keep track of the basics. In this case, the fundamentals are things in the economy like interest rates, employment numbers, and even politics in certain situations.
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All of these elements have to be considered when you put together a long term trading plan. You need to know in depth the economic situation and economic policies of the countries whose currencies you follow. Piggybacking on the fundamentals, once you see the big picture and the way the market is moving or trending towards, you can keep it simple and trade the trends.
The next phase in crafting a solid long term strategy is the technical analysis. While this phrase is big and has different meanings depending on the type of trader you are, in long term trading this means looking for technical things that will support your trades. When plotting a long term plan, use daily and weekly charts.
Popular Short Term Trading Strategies Used By Forex Traders - Forex Training Group
They will show you the big picture, you can use the technical indicators and understand how you want to manage your trade. A — the price creates a new demand on the weekly chart. B — The price creates a new high which is higher than the last high C on the picture of the recent downtrend, which indicates the momentum switch from bearish to bullish and indicates the price tends to reach the supply above.
As we mentioned earlier, while most forex traders trade on a short term daily basis, long term forex trading offers great earning potential. And while there is never a guarantee of success in trading, if you follow this guide and take your position seriously, you can enjoy a fruitful and long term ride in the forex market.
Planning a Successful Long-Term Forex Strategy
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