Learn Forex Day Trading
-
date post
13-Sep-2014 -
Category
News & Politics
-
view
1.273 -
download
8
description
Transcript of Learn Forex Day Trading
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
Learn Forex day trading and make money from the natural volatility of currency markets.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
Many Forex traders focus on day trading instead of longer trends.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
While there is money to be made over time in the Forex markets there is more total price movement in the sum total of daily volatility.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
Learn Forex day trading and profit when the relative value of the US dollar changes versus the Canadian dollar Aussie dollar, Euro, British Pound, or Swiss franc.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
As currency rates fluctuate, traders follow fundamentals and carry out technical analysis.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
They predict the next price move and profit. To learn Forex day trading start with the basic of Forex, the factors that drive currency rates.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
Analysis of the Fundamentals of Forex Currencies
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
Forex pricing is determined by the market.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
The market watches trade figures, employment and unemployment numbers, balance of payment, inflation, trade policy, central bank policy, and more.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
Traders profit from knowing how these fundamentals will affect a currency such as the British Pound or the Yen.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
To learn Forex day trading a trader needs to have a sense of how to evaluate the fundamentals which eventually determine Forex currency rates.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
In international trade one currency is used to purchase another.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
Therefore, day traders focus on the fundamentals of each country. Factors that affect all nations such as the price of oil or threat of regional conflicts affect various currency pairs differently.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
For example a rise in oil price will be more hurtful to Japan and the Yen than to the USA which is a major oil producer.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
Learn which Forex pairs to trade by watching market volatility.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
Technical Analysis of Currency Pricing
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
Technical analysis has to do with watching the market and letting the market tell you what is going to come next.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
Fundamentals are important but very commonly profit in day trading currencies comes from technical analysis of market patterns.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
A popular system is Japanese candlesticks.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
Technical patterns like those used in Japanese candlesticks are a snapshot of price action for the day, hour, or even minute.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
Technical traders can successfully anticipate reverses in market sentiment and make money with an appropriate trade.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
Learn Forex Day Trading As a Business
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
Even though day trading proceeds at a much more rapid pace than buy and hold investing there is one thing both have in common.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
It is best not to do mindless things that result in losses.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
Making money currency trading is only useful if you do not turn around and throw away your profits.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
As with all small businesses trading Forex requires investment of time and capital.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
Most importantly it requires keeping track of profits and losses.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
To effectively learn Forex day trading, develop a strategy and learn a skill set.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
To really learn Forex day trading, find a coach and look over his or her shoulder.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
Learn how to find volatile pairs as this is where the profit is.
http://www.theforexnittygritty.com/forex/learn-forex-day-trading
Practice tuning out fear and greed, the twin demons of trading. Keep track of your trading results and change your approach as needed.