[j-c-anderson]

It all depends on trader`s psychology. Someone prefers to close all positions before the end of the day to avoid exposing to overnight risks, other traders prefer overnight (swing) trading as it is less time consuming.
By the way, there are several ways of understanding the term “swing trading”. Depending on situation it could mean:
– trading inside the mid-term range – for example, when the trader opens position near the support kevek and covers it near the resistance holding overnight.
– fundamental overnight trades based on fundamental ideas aimed to hold the position during the trend movement caused by that news.

[j-c-anderson]

Another important thing newbie traders usually forget about is backtesting meaning the strategy testing on historical data. Of course, we all remember that past performance does not guarantee the same performancr in the future but it is the only way to get reliable information on the perfromance of the strategy. There are several tools that could be used for such purpose, from simple built-in Tradingview tester to the specialized software like Forex Tester providing with a wide range of features. Backtesting allows trader to find out the final performance of the strategy without the infuence of psychology issues. It is faster, than demo testing, and requires less efforts.

[j-c-anderson]

For sure, stop orders are extremely important for the CFD traders. Usual investors buying stocks with their own money can hold their positions even in the case of substancial drawdown. At the same time, CFD traders usr margin accounts, so the could be forces to close position due to the margin requirements.

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