10 August 2013
Day Trading in Forex
Day trading is popular in stocks and bonds. A lot of people want to know whether they have to day trade in forex also. trading forex like day trading in equity markets is prevalent but a lot of people prefer not to. This is mostly because day trading forex would involve sitting in front of the computer terminal all day long and the forex market operates 24 x 7. The other concept is to trade in the forex market on end-of-the day basis, a concept in which Mr. Bill Poulos has a long and thorough experience. He is a past master in forex trading business. His forex profit accelerator course provides an excellent insight into trading in the forex market.
Trading on end-of-the day basis has the same potential of instant profits as day trading but needs less time and is less stressful. Many rules that apply to day trading do not apply to end-of-the day trading and you need to look for a program designed specifically for this type of trading.
Day trading in Forex requires you to take instant decisions and there are time pressures on all activity including order entry, placement of stop losses to meet targets of instant profits. Day trading can be very stressful indeed. At the same time those who are new to the forex market should be aware that if they cannot make profits by trading Forex on end-of-the day basis they would hardly fare better in day trading.
By studying the charts of six major currency pairs you will be able to recognize the trends and the potential of instant profits in the short term as revealed by the chart. The reality is that day traders make fast but small profits and that too after a lot of stress. End-of-the day traders, on the other hand, can take home larger profits and that too without stress as patience is the basic mantra of this strategy.
Day trading Forex is not the only way of making instant profits in the forex market. End-of-the day trading yields similar or rather better profits and it requires you to devote very little time, often not more than half an hour daily. To know more about forex before you start trading it would better to refer to the notes and guidelines written by Bill Poulos. His forex profit accelerator course has been designed specifically for beginners. It will do you good to you to know more about it. His course is intended for managing risk in this highly volatile market and to make your profits run.