Stay in as Long as Possible

The premise of carry trading forex is that you not only make money from trading one currency for another, but you also benefit from interest gained on the currency you’re buying.

Since this interest is added to your account daily, the longer you can keep your position open, the better.

Essentially, this means that a good carry trade strategy requires patience. It’s also why it’s so important to choose a currency pair that is likely to remain stable or move in your favour. When carry trading forex, you should commit to a long-term investment to reap the most substantial return.

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CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.