. If you’re holding a position over weeks or months, the daily cost-of-carry charges can be very significant and eat away at your profitability.Day trading means opening and closing trades within the same day or the next day at the very latest.rather than fundamental analysis as technical analysis is more important over the short term. The economic calendar is still important tothough because it gives day traders an idea of which Forex pairs might move that day and at what time.
Many scalping strategies are based upon identifying support or resistance levels and taking a scalp trade when the price bounces off them.A carry trade in Forex is buying a high interest rate currency with a low interest rate currency. The idea is that each day you hold the trade open, your broker will pay you the interest difference between interest rates.
%. In retracement trading, you wait for the price to make a dip against the trend, and then enter a trade back in the direction of the original trend.provide a basis for helping to estimate how far a retracement might go. The two most important levels are 50% and 61.8% of the original move. 50% is not strictly a Fibonacci level but is known as the halfway back level. 61.8% is the Fibonacci “golden ratio”. There are other Fibonacci levels, such as 38.2% for shallow retracements and 78.
, compared to recent price action. This is essentially a mean-reversion trading strategy, but it can incorporate elements of trend as well.
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