When I first came into Forex trading I like many others was finding for the ways to make quick cash. That's why I opinion that shorter-term trades like scalping are the best way to do it. Later I found out that longer term trades like swing trades work best for me. I believe it's also the easiest way to start trading currencies profitably and any beginner should start with swing trade technique. The long-term swing trading has quite a few advantages over the short-term techniques.
Just to name a few of them these advantages are:
1. Anyone trading part time can start with this techniques
Indeed swing trading techniques requires much less time to monitor a trade. For a daytrading one needs to baby-sit his position continuously. Swing trading technique doesn't wish a lot of time. I am not saying you need to spend less time on learning the shop but once you enter the trade you will spend much less time monitoring it
2. Less spreads to pay.
The more trades you execute in a short period of time the more you have to pay in spreads. Let's say you execute 10 trades with a spread of 3 pips then you already lost 30 pips. That's why it's much harder for any one who is trying to become profitable to learn short time trading techniques. It is much easier to start with a techniques that requires less estimate of trades but has a high behalf target.
3. Lower level of noise on the charts
Anyone can consideration that the higher timeframe of the chart the more confident the price patterns. It is very hard to spot a right trading occasion based on the price patterns on 1-minute charts since those patterns are buried in noise. On the other hand person who uses daily or weekly charts can assuredly see those patterns since the level of random noise is very low.
4. Less emotional pressure.
The more time you have to monitor your trade the more involving it becomes to your emotional state. I think you are familiar with ups and downs of emotional power when you observe price going against and in favor of your open trading position. This kind of emotional roller coaster can speedily wear out your energy.
I believe profitable trading is not an easy task. But many habitancy start with the trading techniques that already quite involving for an unprepared psychology. In my opinion it's much easier to start with a swing trading method for the reasons I outlined above. I also believe that whatever can learn swing trading more assuredly than any day trading method or any scalping method. However it does have it's own challenges. whatever who wants to learn swing trading must create patience. This type of trades may last for a few days. In some cases you may wait for a trading setup for a few days without having any trade. That's why patience is the key in learning swing trading technique.
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