If you have read some of my articles and/or comments, or watched the few webinars I've done, by now you probably know that I prefer a long term approach in my trading, and that I don't recommend day trading, especially to inexperienced traders. It is a known fact that most retails traders use short time frames, and they have the opinion that long term trading is riskier, so they stick to their intraday charts believing that they are taking less risk. And this myth of the supposed safety of intraday trading is repeated ad infinitum until almost everyone believes in it. However, that's what it really is: a myth, nothing more than that. _____________________________ ► Trading costs and slippage No matter how long you hold your positions for, there is a fixed cost that is the same in all situations: the spread. And then there are commissions based in your trading volumes and capital deposited (using Dukascopy's fee structure). Imagine that a currency pair has a total cost of 2 pips per order (spread + commissions). A day-trader will usually have small profit targets, lets say 20 pips. So he will pay 10% of his profits to the broker, and likewise his losses are also inflated by…
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