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Performing three trades a day is possible in forex. However, it is important to know when to take a forex position. Identifying breakouts is essential for successful forex trading. This strategy involves waiting for price to move past a significant level and opening a position in the direction of the trend. Identifying Forex breakouts is a profitable strategy if you keep up with political and economic news. Using an indicator to determine momentum will help you identify these opportunities.
The five-day rolling period is calculated based on market days and excludes holidays and weekends. Thus, a one-day trading limit for one week can be doubled for the next two weeks. Assuming that a trading session lasts for two hours, Trader #2 can make five round-turn trades during the week. This means that this forex trading strategy would result in one hundred trades within a month.
A successful strategy may involve multiple trades throughout the day, lasting from a few minutes to several hours. There are several forex day trading strategies, but a general rule is that you should trade during the most liquid times of the day, which are the hours when the London and US markets overlap. While this method may require a lot of practice, it is still effective for most day traders. And, if you want to maximize your profits, it is important to keep in mind that the more time you invest in trading, the higher your chances of success.
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