What Are the Basics For Successful Forex Day Trading?
Every Forex trader has developed their own style of trading, over a period of tried and tested methods, that they personally like to use for successful day trading. The key is to develop a set of indicators that you can use to gauge a trade entry and exit point. All traders will use some sort of software normally in chart formation that they can lay reference to which way a particular currency pairing is moving. It is these charts that can be manipulated to a particular traders style to maximise successful Forex day trading. The Basic indicators that a trader may look for on a chart are previous support and resistance levels for a particular currency pairing or also known as previous price action. To outline this basic day trading method would be to look at a chart and see a point on that chart that the price has reached and then reversed. This point would be known as support if stopping the price from continuing on a downward trend or resistance if preventing the price from rising. On
