Forex position trading strategy
Forex position trading strategy is one of the most secured trading strategies..Position trading is a popular long-term trading strategy that allows individual traders to hold a position for a long period of time, which is usually months or years. Position traders ignore short-term price movements and prefer to rely on more precise fundamental analysis and long-term trends. In the forex market, a trader can hold a position for as long as a few minutes to a few years. Depending on the goal, a trader can take a position based on the fundamental economic trends in one country versus another. Well, 60 mins charts, Daily charts, and Weekly charts are the most frequently used timeframe charts to take a positional trade. Spotting the trend of the stock on the weekly chart is necessary.