How Do You Day Trade Forex?
To day trading Forex is to day trade foreign exchange. A simplified explanation of day trading is simply the trading (not investing) of a particular securities, options futures, etc, in an attempt to make money off the fluctuations made during the particular period a trader has chosen to trade. Day traders, by definition, close out all positions at the end of the day. This is a defining characteristic that is required to maintain the tag of day trader. To carry trades beyond the close of trading session begins to blur the lines of trader and investor. Swing traders carry trades from one session to the next. But enough about that. Let’s limit this discussion to day trading, and in this case, day trading Forex, which is day trading currency. (SEE TIPS BELOW.) A trader must first decide on what sort of currency pairing he or she is interested. Currencies are pitted against each other to create individual markets, or pairings. The most liquid pairing out there is the EURUSD. That means the
