HiCan I do a buy and just sit on it for the next year
Pharaoh,You can buy something for an extended period (weeks, months, more). That's called Position Trading. Even if you are 100% correct on the long term direction of the EURUSD, you need enough money to cover the inevitable swings against you or you'll get a margin call. Position traders also need to be very aware of the swap rate interest, since this can enhance or reduce profits.
I believe that most of us in this forum do day trading and some may also do swing trading (trade that lasts for over a day, but not long enough to be called position trading).