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Long-term Investment Strategies For Colombian Forex Traders – We use a variety of cookies to provide you with the best browsing experience. By continuing to use this website, you agree to our use of cookies.
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Long-term Investment Strategies For Colombian Forex Traders
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Understanding the basics of going long or short in forex is fundamental for all beginning traders. Taking a long or short position is based on whether the trader thinks the currency will appreciate (go up) or go down (go down), relative to the other currency. Simply put, when a trader thinks a currency will appreciate they will “Go Long” the underlying currency, and when a trader expects the currency to depreciate they will “Go Short” the underlying currency.
Read on to learn more about long and short positions in forex trading and when to use them.
A financial position is the amount of currency that is owned by an individual or entity that can then be affected by the movements of the currency against other currencies. The position can be short or long. A forex position has three characteristics:
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Traders can take positions in different currency pairs. If they expect the price of the currency to appreciate, they can go long. The size of the position they take will depend on their account balance and margin requirements. It is important that traders use the right amount of profit.
Features IG client sentiment with a complete overview of the positions traders are taking in the forex market.
Recommended by David Bradfield Building Confidence in Trading Get My Guide What does it mean to be long or short in forex?
Having a long or short position in forex means placing a bet on a currency pair to rise or fall in value. Going long or short is the most basic aspect of engaging in the markets. When a businessman goes for a long time, he will have a good balance of investment in the property, and hope the property will appreciate. If he is short, he will have a negative investment balance, in the hope that the asset will depreciate so that it can be bought back at a lower price in the future.
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A long position is an executed trade where the trader expects the underlying instrument to realize. For example, when a trader executes a buy order, he holds a long position in the underlying instrument he bought ie USD/JPY. Here they expect the US Dollar to appreciate against the Japanese Yen.
For example, a trader who has bought two lots of USD/JPY has a long position of two lots for USD/JPY. The base is USD/JPY, the trend is long, and the size is two lots.
Traders look for buy signals to enter long positions. Indicators are used by traders to find buy and sell signals to enter the market.
An example of a buy signal is when a currency falls to a support level. In the chart below USD/JPY is falling to 110.274 but can be used at that level several times. This level of 110.274 becomes a support level and gives traders a buy signal when the price drops to that level.
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The advantage of the forex market is that it trades almost 24/5. Some traders prefer to trade during major trading sessions such as New York session, London session and sometimes Sydney and Tokyo session because there is more liquidity.
Recommended by David Bradfield Get the same basics with our forex beginners guide Get My Guide What is a short position and when to sell it?
A short position is basically the opposite of a long position. When traders enter a short position, they expect the price of the underlying currency to decline (down). Shorting a currency means selling the underlying currency in the hope that its price will decrease in the future, allowing the trader to buy the same currency later but at a lower price. The difference between the high selling price and the low buying price is the profit. To give a concrete example, if a trader uses USD/JPY shorts, he is selling USD to buy JPY.
Traders look for sell signals to enter short positions. A common sell signal is when the price of the underlying currency reaches a resistance level. A resistance level is a price level that the base has struggled to break above. In the chart below USD/JPY has a value of 114.486 and is struggling to appreciate further. This level becomes a resistance level and gives traders a sell signal when the price reaches 114.486.
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Some traders prefer to trade only during the main trading sessions, although if an opportunity arises, traders can execute their trade almost any time the forex market is open.
If you are new to forex trading, we recommend you download our free forex for beginners guide that takes you through the basic steps to get started. It is also important to understand the first mistakes traders make when trading forex.
As you begin your trading journey, you can download our free currency forecasts covering major FX pairs. These are compiled by our experts here who also host daily trading webinars and provide regular updates on the forex market.
The content on this website is not a solicitation to do business or to open an account with any brokerage or commercial company based in the United States.
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By checking the box below, you confirm that you are not a US resident. In this guide, we review the best international online brokers in Colombia. We analyzed and researched hundreds of brokers, based on various factors. We compared every aspect of their services, focusing on security, fees and commissions, trading platform, regulation, investment issuance, trading tools, deposits and withdrawals, and more. Brokers had to meet the threshold to be considered in the following list.
Danish FS, FCA, MAS, FINMA, ACPR, AMF, Bank of the Netherlands, FSMA, Hong Kong Securities and Futures Commission, ASIC
One of the best options in Colombia is IBKR, an international brokerage firm that was founded in 1978 and is listed on NASDAQ. The company is trusted by international traders because it offers access to 135 markets in 33 countries. It offers low-cost trading and a comprehensive set of research tools. Thanks to the removal of IBKR’s $10 minimum maintenance fee, all of its amazing features are available without annoying downtime fees. Interactive Brokers is a legitimate and well-regulated broker.
Interactive Brokers offers Stocks, ETFs, Options, Futures, FOPs, Forex, Cryptocurrencies, Spot Gold, Bonds, Mutual Funds, and Hedge Funds.
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There are no deposit fees on the platform and Interactive Brokers also offers the first withdrawal every month for free.
XTB is an established CFD broker offering access to over 2100 international markets. XTB is an agency established in 2002 with offices in London and Warsaw. Their platform and mobile app are easy to use and their education is top notch. They have more than 450,000 customers worldwide, and provide fast and qualified customer support.
It is best suited for traders looking for a good trading experience with low forex CFD costs and a quick deposit and withdrawal process. It is a secure online broker approved by a number of leading authorities around the world, including the UK’s Financial Conduct Authority FCA class 1. Finally, XTB makes its financial records available to clients, which is beneficial to any agent.
Saxo Bank, founded in 1992, is a leading online multi-asset broker. Saxo offers a great trading experience thanks to its modern platform, extensive research, and more than 40,000 securities. Saxo Bank offers a wide range of great tools and services for active traders. Saxo Bank’s high level of regulation, banking experience, and long track record make it a reliable choice in terms of security.
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We also recommend TD Ameritrade if you want to invest your money with a reputable broker in Colombia. The company provides a full-service trading environment that can accommodate new and experienced day traders who want to trade multiple asset classes. You can benefit from TD Ameritrade’s technology-driven, mobile-friendly trading platforms
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