<div class="bbWrapper"><blockquote data-attributes="member: 5471" data-quote="Maxjohan" data-source="post: 454749"
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Not to brag. But I said this on December 29, 2014. See how the economy in the USA and the EUR/USD have gone since then???<br />
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EUR/USD then: 1.2180564678<br />
EUR/USD now: 1,07245<br />
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I really don't see why more people look for long term trading. Sure I could have sold the USD at 7,4. But if I had gone in on December 29. I could have made some good profits up to now. With EUR/USD.<br />
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Why anyway wants to guess how the market are going to go on a daily basis is beyond me. All you need to do is go with the flow. If there there seems to be any. And it was loud and clear with the USA economy. Jobs where getting better and the federal reserve was cutting the bond buying.<br />
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All it takes is one trade. Watch the trade for say 15 minutes a day. Then, you can do what the F*ck you want with the rest of your time. But of course. The market conditions are not always like this. Or I mean. How it was. Because I am pretty sure things are going to change now. And it will probably get harder to see these kind of insane long term spikes on a currency against another.
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I agree with some of what you said but the reason people tend to go for short term over long term is because it is very difficult to hold trades on leverage through the drawdowns. 99% of retail traders can't do it and they "cut losses".<br />
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Another reason for short term trading is the compounding effect. I shorted 100k of EUR and GBP in May, had I held it all the way to the lows I would have made $60000 give or take but instead I would short take profits, wait for another large move, increase bet short, take profit, increase bet short, take profit , repeat, in an endless money making cycle avoiding pullbacks and mental stress and the agony of watching position go heavily against me.<br />
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Trading is like 3 dimensional chess, everyone has their own style and personality, ever heard of guy Jimmy Balodimas ? He would add to losers, sell into breakouts, buy into crashes, his screens were a sea of red but he never had a down month in his career simply because he traded around his positions, 99% of traders can't do that. But it works for him.<br />
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Long term trading becomes investing and investing will never yield fastlane type money unless you invested in an apple, google or Microsoft before anyone heard of them, unless you are levered and in that case you will most likely get wiped out due to the long holding time and exposure to timing risk.<br />
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My $0.02</div>
