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davis9786
04-30-2007, 06:28 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
05-01-2007, 04:28 PM
Hello Davis,

All trading styles could work if they fit your personality. Yes, there are a lot of day traders who rarely make money, but there are more day traders than position traders, so I guess at the end all nets up. Another consideration you need to take is that you need wider stop loss orders when position trading (that means more money).

Reagrds,

Raul