What is Day Trading or Intraday Trading?
When you open & close your trade within a day. That is called as day trading. Means all of your opened trades get closed within the day, does not stay open until the next day. Daily to daily cash trade. With this kind of trading, you do not need to pay forex overnight swap charges. You can sleep peacefully without worrying about any market gap which occurs at the start of the day, especially on Monday or after any trading holidays.
Why is it Popular Among Forex Traders?
As we all know forex market is a highly volatile market. Hence day trading is the best possible choice for professional traders, forex fund managers, institutional investors. New traders get highly excited about day trading because they have a common myth “Let’s get rich tonight!” But in reality, day trading requires expertise & experience with the forex market. Because forex market works in a clockwise manner, for this reason, market timing is very important.
Based on our advance intraday/day trading indicators, you will be able to gauge the market possible supports & resistance level along with market turning times. Find our top forex indicators.
How Much Should I Trade Per Day?
For a standard trader, 1 – 3 or maximum 5 good quality trades per day is reasonable. But some traders who basically hedge or does the basket trading, they require to place a lot of orders, that totally depends on his/her position. Institutional traders executives lots of high volume trades per day or even in per minute. Learn more about the different types of forex market players.