Almost no week, I don't know if "day trading" is the only way to trade forex. If you want to grow bigger in the Forex market, it seems that most new traders are considered to be day traders (from now on called DT). but it is not the truth.
What I have found is that day trading in foreign currency currencies is not good for most new forex traders. In fact, due to the time and focus of success, this is actually one of the reasons for the failure of many new traders. There are simpler trading methods that do not require as much time as DT, and because of this, they are more suitable for novice or less experienced traders. The best part is that profits are as good or better than DT.
One of the simplest trading strategies to quickly gain popularity is "end of day trading." (From now on it is called EODT). This method is especially suitable for new Forex traders, because you only need to trade 30-60 minutes a day, so you can focus on a short time and maintain a normal life outside of the transaction.
EODT also has the advantage of getting more profits in a longer period of time, rather than the short-term profits of short-term traders, which means that your profits are equal and often higher. Of course, EODT needs a slightly different strategy from DT, so you should invest in a foreign exchange trading system that was created specifically for day trading.
What most people don't realize is that DT can be very tense - the time pressure that requires multiple quick decisions every day requires unrestricted concentration and the level of experience that most new traders do not have. EODT eliminates most of these problems and makes the transaction easier to make.
Although day traders focus on quick profits and many times each day, daily traders only need to spend one slow profit each day. The result is to reduce the work of similar profits and reduce stress and time. So far, you may guess that trading foreign exchange on the day is not the only way out. Trading at the end of the day is usually a simpler method, using less time, and similar results can be obtained.
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Orignal From: Are you trading foreign exchange currency for the day?
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