Under age 30, Mohammadreza Moghadasi holds the title of an entrepreneur with 53 businesses and hundreds of employees working for him. From leaving the school to successfully running multi trading lines, his professional experience is worth hearing and he is the model who next generation of entrepreneurs must look up to. In this essay, Moghadasi shares a drop of his knowledge ocean about trading strategies in Forex Market.
According to the time and numbers for trading, strategies in this regard can be classified into four distinct groups:
1. Scalp Trade
Moghadasi says: “A scalp trade consists of posts retained for seconds or minutes at most, and the earnings are limited in terms of the number of pips.” Such outcomes are assumed to be cumulative, meaning that little profits in each transaction add up to a significant amount at the end of a day. They count on the predictability of price fluctuations and cannot manage much excitability. He continued: “Accordingly, traders tend to forbid such transactions to the most liquid pairs and at the most active trading times during the day.”
2. Day Trade
Day trades are short-term exchanges in which places are maintained and liquidated on the same day. The time of a day trade can be roughly hours. Mohammadreza emphasizes that day traders must acquire technical analysis skills and knowledge of essential indicators to level up their profit earnings. Like scalp trades, day trades are based on cumulative daily advancements for trading.
3. Swing Trade
He added: “In a swing trade, traders often keep the position for a duration exceeding a day; that is, they may hold it for days or weeks. Swing trades can be helpful by considering the primary announcements by states or times of financial disruption.” As long as they have a broader time horizon, the markets in swing trades do not need to be continuously watched over the day hours. “In addition to technical analysis, swing traders must be able to measure economic and political actions and their influence on currency change,” said Moghadasi.
4. Position Trade
In a position trade, the trader maintains the currency for an ample time, lasting for months or even years. Mohammadreza concluded: “This trade requires more basic analysis skills because it provides an inferential basis for the business.” In the end, Mohammadreza Moghadasi recommends that youngsters, start with various ideas for their business and advance them in parallel, and it’s better to work this out during the teenage years when people are full of energy and motivation