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Swing trading is a popular trading strategy that involves trying to profit rapidly from short-term market movements. While some swing traders initiate and maintain positions for a few days, others may hold them for several weeks.
Position trading, as opposed to day trading, requires you to keep a position for weeks or even years. It is the finest forex strategy ever since traders are not need to cope with short-term price fluctuations.
In my opinion, the best forex pairs to trade for beginners are EURUSD or GBPUSD since their volatility is lower and their liquidity is higher, it is also used by many experienced traders.
From my personal experience, I find the MT4 much simpler to use when compared to the MT5, and the MT4 is mostly suitable for forex, whereas the MT5 is not only an Advanced version of the MT4, but it can also run stocks, CFD and other trades.
I agree with KiranKrithika about FP Markets. It's been three months since I started using it, and so far, everything is going good. The spreads are consistently lower through the day, and their trading conditions are the best.
It is a good strategy, but it has certain issues, like traders having to wait to confirm the price movements. Due to this, traders miss out on trading opportunities since there is a rapid change in prices.
I agree with LennyShort, After several bad experinces with ecn brokers like XM and ICM I finally found an reliable broker FP Markets whose trading conditions are good with proper customer service.
I suggest trading with FP Markets Raw ecn account. The spreads are lower, starting at 0 pips in most major and minor currency pairs.
Since it is regulated by ASIC and Cysec they adhere to strict capital requirement and are reliable to trade.
I'm looking for a new currency pair recommendation for day trading. Currently, trading with EURUSD and would like to know if there is another volatile major pair in the market that is safe to trade?
I suggest FP Markets because it is regulated by ASIC and Cysec. It also holds an offshore licence with St.Vincent. I've been trading with them for nearly a year now, and so far, the experience has been good.