What to choose based on the forecast for the dollar, long-term trading or short-term?
Forex analysts never give 100 %that the forecast will come true, because trading in the foreign exchange market, in general, is not predictable. Betting on a forecast that is difficult to make is not always successful for both professionals and new traders who do not even know what to make their forecast for currency rates.
However, foreign exchange trading brings new sensations, new victories every day, if you have successfully made a forecast for currencies or defeats when the forex forecast of analysts has let you down. Trading brings new experience and a lot of interesting things. If you want to work long and fruitfully on the forex market, you will need not only knowledge, logic and the ability to make a forecast for the dollar or any other, but also a huge amount of patience..
For some, trading in the market can take from several hours to several minutes per day.. Who-then prefers short-term trading to long-term, who-on the contrary, he experiences great pleasure and gets his share of adrenaline, playing on one currency pair for several months, successfully using forecasts.
If you want to make a profit in the shortest possible time, without delving into what is the forecast for the currency today, without studying fundamental analysis, then you just need to work a few minutes a day and be content with small crumbs of a huge market.
Who- now he may argue that by conducting short-term speculations in Forex, you can earn pretty decent money for the whole day. This statement is also true if, for example, you make a correct forecast for the day. However, what will happen to your nerves at the end of the day . You can go crazy at the same fast pace.
Long-term trading is not for those who dream "about everything and at once" and does not have iron patience and endurance. To start «long distance run», you will need a decent amount of money, a reserve of endurance and complete confidence in victory. In long-term trading, the risk of losing is not as high as in short-term trading, besides, it is much easier here to make forecasts for the dollar, euro or any other, which will lead to incredible profits..
The bottom line is that if you can devote yourself to studying the technical and fundamental analysis of the Forex market, learn how to make long-term forecasts for the dollar, euro, metal, oil, so that later you do not sit at the computer monitor for hours and days, then long-term trading is for you.
