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davis9786
04-16-2007, 02:00 AM
Hi Friends
Since Forex oscillates on a daily basis, can I position trade currencies? By which I mean, use weekly or monthly charts. I have read that day traders rarely make any gains. Is swing trading the only possibility? My interest is in the GBP/USD currency pair.

Kindly help.

Raul Lopez
04-16-2007, 05:23 PM
Hello Davis,

Its all about the system traders use. Day traders who trade systems that does not fit them, they will probably lose money, but the same happens to swing traders, if they trade a system that doesnt fit them either, they will also have problems trying to make money.

So, no. Swing trading isnt the only possibility, it all depends on your personality, trading style, time restrictions, risk profile, etc.

HTH

Raul