Should newbie open a one month long term trade

[Daisy]

Should newbie open a one month long term trade? Why and why not? I have opened such a trade before and I love how it increased my profit with the right pairs. Its very possible in a good economy or the right factors are there but it might even dip so low in one month too so not all is profitable in a one month trade. I don't think newbie have enough money to survive sl in one month and news might take them off the trade if they set sl too narrow. However, I don't think they know how to make money or have confidence enough to stay in one month or enough patience even. What do you think?

 

[gkintl]

One month long trade can be opened provided the trader has enough capital to manage wide stop loss and take profit price. It is a well understood fact that as much as the time frame increases so much wider the stop loss and take point price would be. Thus, a trader needs to have a large capital to trade the primary trend of an asset. Long term trading is the most beneficial form of trading, statistically. However, not all possess huge capital to manage the same effectively. Further more, a lot of patience is very much needed as well to monitor our position without any impulsive response.

 

[Daisy]

They can do long term trade in like a mini account though and just do like .05 size. I think they can. It can be just for learning experience with small capital size. I think they can do it and also don't have to use sl in mini lot. I know long term is very hard for newbie but it can be beneficial for long term trader but you have to get it at a low price or else its not that worthy in the end.

 

[Pettyeve]

One month long position can be opened by newbie traders but it is too long a position. For me, it is too long to wait for your position to float for that long. Instead of going for a month, the newbie trader can do it for a couple of weeks.

 

[kasual]

Well, newbies can trade for long term or short term. Its depend on newbies strategies. However, since they are don’t know how to deal with volatility yet, better if they are trade based on trend movement. Which mean, newbies take long term approach in trading which hold position to riding the trend. And due to that trend could last for many months, probably they’ll hold a position keep open for a month long or even longer.

 

[rexway]

seeking for such opportunity for them is a waste of time let me tell you something here in the forex trading market %80 of the trader that join only want fast money here while the rest need succees without hardwork so telling them to open long term trade is a waste of time

 

[kasual]

Newbies have right to take whatever approach in trading. They can choose to use short term or long term trading strategy. Though probably, traders take long term approach, doesn’t mean that they should open position for a month. It could be less or even more depend on how long the trend would last.

 

[tray]

For me personally I think that one month trade is very long period but something like dailly time frame is ok for me i dont trade and i never trade in such time frame before i think it was build for the big fianacial institution which can help and they have enough money to trade in here

 

[rexway]

one month trade is very risky for the newbie trader to be sincere so there is nothing to worry about this type of speech ,a newbie trader might not even know anything about one month trade in forex trading because from what I know you will just need to try understand this people are just newbie here

 

[Decub]

Generally, opening such a long time position is simply not worth it. I feel it's too long to take care of especially when you talk of the stops you have to put. Though long term trading is quite safer than short term but from my end, newbies shouldn't go that way.

 

[Bonyi]

No i do not think that is a wise thing to do. At least a four hour trading platform should be maintained by a newbie since it helps you see the direction of price

 

[kasual]

Newbies can conduct practice as long as they want. If think that a month enough to be prepared, they can jump in live account after a month practice in demo account. But many cases tell to us that traders require months till years before they are really prepared to trades in live account.

 

[Decub]

A newbie can indulge in a mid term trade. I mean, having your trades open for some days isn't a bad one even though it is a small percentage of profit you would make. It means you are at least learning something in a long run and making some decent profit too.

 

[budado]

No i do not think that is a wise thing to do. At least a four hour trading platform should be maintained by a newbie since it helps you see the direction of price

You don't open a position then follow the trend. You need to do analysis then open a position. In this way you will know what will be your SL or your TP and you will know how long its take for you to get SL or TP

 

[kasual]

Well, traders has different approach in trading which it enabling them to perform analysis. They are choose to use scalping technique since they are want to catch quick profit from market. While they are choose to use long position technique since they are want to take advantage from trend market. They are let position floating for a month or more till trend market exhausted.

 

[sindarin]

This is quite hard for me to answer but if you want to earn bigger then that is one of the option. But remember if your position open longer there is bigger chance exposure to the risk. If you can manage it well then do that even you are still newbie.

 

[budado]

Its will be base on your analysis. If the trend is going to be flat for a month. Then I don't see a point why we need to hold our position for a month. We can do scalping. But if the trend is going to be volatile and theirs a good chance of breakout then its good to hold position.

 

[rexway]

not even the analysis I dont like the situition where the newbie trader is told or encourage such longer time trade I think 1h is ok ,since their skills is not yet up to the task then I can tell you they will have setback when its come to this fact

 

[budado]

Being a newbies its good to trade to learn and not to earn. So if you open a position for a month its can help you understand how forex market trends moves. Slowly you will going to embrace the power of trends and volatility. Its all about observation.

 

[Faal]

If anyone like long time trading then no problem but I think new should practice scalping mostly! BY the way, holding trades for a long time it’s a good practice.