Forex Day Trading - Short Term Trading, Not for Beginners

Day trading is exactly what it sounds like: trading that all takes place in one day. In day trading the short term is the main focus, meaning all entrances into, and exits from, the market need to take place on the same day. Often times day trades can take only a few hours to enter and end, with the hope that each trade nets a small profit, and that those small profits add up.

Day trading requires a quick entry and exit and the ability to efficiently use technical analysis and apply it directly to your trades. The strategy used by day traders isn’t to find one long term trade that does well, but to find several smaller trades that make a few pips here and a few pips there. At the end of the day the strategy is to have enough wins over losses that they add up to a solid profit for the trader.

Scalping is an extreme example of day trading in the Forex markets. Traders who employ scalping trading methods (appropriately nicknamed “scalpers”) are traders who buy into a position intending to see quick movement and profit off a short transaction, often times within a minute or a couple minutes of making their entry into the market. True scalping involves when a trader opens and closes a position in literally minutes—or sometimes even less than a minute!

This quick in and out is hoping that after a quick movement and show of profit, and immediate exit will in theory help minimize risk while collecting smaller profits bit by bit. This is an advanced type of trading, that shouldn’t be tried by pure beginners into the Forex market, though if you get a good system and some experience, this could become an option down the line.

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From Jason Fielder – Founder, ForexImpact.com