Forex day trading involves trade transaction of TODAY and just today. There is no scope for yesterday, tomorrow or any other day in day trading. Here the trader books profits by capturing intraday price swings. The transactions are not carried forward to another day.
As a new forex day trader understand the following concepts and follow these simple tips to get started:
1. In the forex market movement of Currency rates is greatly influenced by rumors, news, economic indicators and government reports. Any major economic news of the country whose currency pair is being traded will cause wide price fluctuations. Therefore as a day trader you must keep yourself abreast of news at all times.
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