Take a flier refers to when a trader takes up a highly speculative investment position in hopes of big returns. All forex trading is speculative in nature, but taking a flier usually refers to going into a trade with little preparation or information beforehand. Taking a flier is best done with capital you can afford to lose.
Currency traders may take a flier if they know a release is due in a currency pair they don’t actively follow. Rather than digging into the fundamental data, a trader may simply choose a direction and take a chance by opening up a position there. If they get lucky, it is an easy profit. If they don’t, it is usually a small loss. If a trader is always taking fliers, however, those small losses can quickly add up.
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