Forex Day Trading

Forex day trading means holding a trade up until the days end, and not holding overnight. This term began when traders started to day trade the Stock market, as you all know the NYSE ends at 4pm EST. Traders began calling a trade a "Day Trade" when they would not hold the trade past the time the NYSE closed. This term became a bit tricky to understand when Forex came along. As you may or may not know Forex is a market that trades virtually never ending. When I refer to Forex Day Trading I typically mean not holding longer than 24 hours, though many of my trades are designed to only be traded during U.S. session. I have seen a number of day traders on the web who call themselves 'Day Traders' but in reality they are not in fact many of them are 'swing traders'. Let me repeat Forex Day Trading can be debated about what and what is not day trading but Stock Day Trading is clear...."No Holding Past 4pm est".  Scalping is referred to as a fast type of trade this is my specialty, the kind of trades I love! Swing trades typically last no more than a few days and I sometimes take if the setups are nice.

Most of my Forex Day Trading setups are usually based on lower time frames  and my trades can last from 10 minutes to 3 hours depending on the trade.  I enter my trades with the intention of being closed by the end of the day. In order to do well in scalping you must have the proper personality for this type of trading.

Of course you must have a clear and well defined strategy to succeed in Forex Day Trading, this the case with both swing trading and positions as with any type of  trading, a trader MUST have a trading strategy that has proven to work in a big way and back-tested. Money management must be an important factor in trading.

Dedication Is Essential
These markets are not for everyone, Day Trading requires many personality traits that are normally not found naturally in humans. The trader must be very aware of trades and have a full focus and concentration on the markets at ALL times during a scalp.

Find A Quiet Place And Focus
If that crazy dog is barking or those loud noises bother you then you better find another place to day trade because it may become the most expensive lesson. I remember when I made the transition from trading on Wall Street to trading in my home, we had a tiny little Dog who would do nothing but bark all day. After a Stock trade and a loss of $5500 within about 15 minutes I decided I should move back into my small office or get rid of the Dog...we ended up finding a nice home for this Dog, since then I never went with the loud mouth smaller Dogs. My point in this story is losing $5500 in 15 minutes because I was fixated on the Dog barking is my fault an no one else should know better and that's that!

Be Able to Take A Loss
Trading requires an amazing mindset one that needs to be able to brush off the loses and learn from them. Learning means finding out what you did wrong on a trade and moving on. If you do this and have a great system I do not see why you can't become a very effective Forex Day Trading expert.

Too Many Trades
In Forex Day Trading there is nothing more than a Broker wants you tom do than to over trade. Many trading charts and tools that they add to their charting programs are fostered to make sure that you are rushed and zoned in on the fact that you are up $1,000 or down $1,00 or whatever the amount you trade. This makes you jittery and emotional, do you really think Brokers do not know this? They want you to trade more so they can make more spreads this is how they make money.

Good Spreads for Forex Day Trading
Some Brokers advertise great spreads but then when  you take the trade they slip you a pip or two. Find a Broker that you feel good dealing with and in my experience a Big Forex broker does not always mean a better one. To really succeed in Forex Day Trading one must consider all things this means the best spreads you can get and the most reliable Broker.

Potential to do Very Well
Forex Day Trading can take your money and also make you rich. I would NEVER want anyone to think that you can get rich overnight in Forex but many traders have lost and many have won. More lose of course but this is the same with anything, normally 20 percent of most businesses make 80 percent of all the profits.

At Fx Live Day Trading, we are pro Trader who provide a Live Forex Trading room for members as well as a chat room. We provide Forex Signals as well as an online trading course that you can view at any time you wish. Most of my trades are 30-60 pip potential trades. They can go larger and smaller depending on the volatility of the markets. If you would like to get an idea of the trades please view the 6 month 'Pitbull Challenge'.

"6 Month Pitbull Trading Challenge Results"

Day Trading Room Performance - For all of B.T.'s trades. BT ended the 6 month challenge with a 52% gain. We will begin another Challenge after the summer of 2013.

Follow BT as he takes all the U.S. session room trades along with ALL signal trades and implements his strategies.

myfxbook verified account.

We make our trading as easy to understand and learn as possible. All Forex signals are sent via SMS as well as copier (Free Courtesy) we also post these in the Foprex Day Trading Room.  I find myself in front of the charts 12-15 hours per day, not because I need to but because I love to!

One of the best things about of Forex Day Trading service is that we have a vast amount of experience. I began on Wall Street and traded for over 5 years until I went on my own, and Marco (Euro Coach) traded in his University Dorm at that time learning by doing. After meeting and coming together 3 years ago, I can say we make a great team.We can say I do not do this for the money as my driving force is helping traders gains a "Trading Edge" I like it when small time traders beat Banks and Wall Street people.  I was always going for the underdog....for this reason we provide specials to keep our rates low see our current specials. Don't forget to join our Twitter and Facebook.