Is following the medium-long term trend the best way to spread bet currencies?
I just have a curious question on spread betting the foreign exchange markets or forex and if the best way to trade it is by following the medium-term to long-term trend, i.e. a few weeks to a few months? Is this the best way to trade it as this is what I did with my practice account and gained 426% in 2 weeks? Is this the best way to go about it as I know currencies usually trend long-term? Please help/advise. Thanks.
There is no definite timeframe – some traders trade on a short timeframe, others like me prefer to take advantage of long term trends lasting for weeks/months. What is important is that you have a system and are sufficiently disciplined to stick with it. As for gaining 426% in 2 weeks on your practice account it implies that you are taking very big risks and you would probably trade differently when hard money is on the line…
trend trading | admin | March 6, 2010
There is no definite timeframe – some traders trade on a short timeframe, others like me prefer to take advantage of long term trends lasting for weeks/months. What is important is that you have a system and are sufficiently disciplined to stick with it. As for gaining 426% in 2 weeks on your practice account it implies that you are taking very big risks and you would probably trade differently when hard money is on the line…
References :
http://www.financial-spread-betting.com/