How do you take currency positions on long term basis more than one year?

Dian

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I heard there is a type of trading method called position trading and can take positions on currencies that last for weeks, months or even years. Can somebody enlighten me on that? Thanks
 
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I wouldn't do that, I would prefer to move into a forex pair when its momentum is greatest and exit when it starts to range. Entry and exits these days are quick and cheap. Years ago, the only access to the financial markets was via buying shares, which are long-only investments and which had expensive fees to pay for buying/selling, plus tax on selling, and which could not be done at the click of a mouse. Much orthodox "wisdom" concerning financial investments was written years ago for US males by which to gain tax advantages from a private pension scheme during a decades-long bull market. Treat all advice with extreme caution, question all sources, context is everything.
 
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