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Alex US wrote:
> I am just started with forex trading. I've heard an opinion that
> technical analysis is useless in
> intraday trading.Does anybody have any other opinions?
I don't know a damn thing about forex trading, but where trading in general
is concerned, this is ridiculous. First, the shorter the time frame, the
easier it is to predict trends, Second, interday trading introduces an
added measure of uncertainty, due to the gaps that occur, which are much
more difficult to get a handle on then intraday movements. In fact,
intraday trading is based solely on technical analysis, and there are a lot
of traders who do VERY well at this.
> Could you give
> an advice what is
> better for the beginner to trade intraday only or to hold a position
> for a few days also?
Risk is higher in position trading, especially if you're not sure what
you're doing yet. I've never held an overnight position in my life, simply
because I can realize my objectives without this type of exposure. If
you're just starting out, it's better to err on the side of caution, which
will help keep you in the game through the inevitable series of mistakes
that are bound to occur.
Good luck,
A.J.
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