How to choose the right day to trade?
Wednesday, January 8, 2014
, Posted by Ryanita at 12:00 AM
John
Do any body know in Forex how to choose the right day to trade?
Answer
Choose the right day to trade.
This recomendation is often wrongly taken as an optional thing, because everyone knows that Forex market is open 24 hours a day 7 days a week. Yet, choosing the time to trade can make a difference between successful and hopeless trading.
It's proved and highly recommended not to trade on Mondays, when the market has recently awaken and is making first "probation steps" to form a new or confirm a current trend; and on Fridays afternoon, during the huge volume of closing trades. The best days to trade are Tuesdays, Wednesdays and Thursdays.
Choose the right day to trade.
This recomendation is often wrongly taken as an optional thing, because everyone knows that Forex market is open 24 hours a day 7 days a week. Yet, choosing the time to trade can make a difference between successful and hopeless trading.
It's proved and highly recommended not to trade on Mondays, when the market has recently awaken and is making first "probation steps" to form a new or confirm a current trend; and on Fridays afternoon, during the huge volume of closing trades. The best days to trade are Tuesdays, Wednesdays and Thursdays.
Hod do you learn to become a day trader? Can you really make alot of money trading stocks?
mebigez
Is it possible to trade stocks online and make an obsene amount of money as a day trader? How do you learn to do this? How much does it cost?
Answer
Go try Forex, it's the biggest market in the world traded by about all countries. Search google for more information. It's also unknown to most because it started in the 1970s and gained public on 1990 or something like that. Most brokerages has demo accounts where you can actually practice. Anyway....follow these rules and you should be fine.
1. Have descent trading system...Simpler the better.
2. Risk 1-3% of your account for each trade..
3. Money management.
4. Money management.
5. Money management
6. Money management.
7. Money management.
8. Money management.
9. Money management.
10. Money management.
The reason people fail because they don't follow these simple rules and are toooo greedy. Like myself :P but I'll be sure to come back and follow.
Go try Forex, it's the biggest market in the world traded by about all countries. Search google for more information. It's also unknown to most because it started in the 1970s and gained public on 1990 or something like that. Most brokerages has demo accounts where you can actually practice. Anyway....follow these rules and you should be fine.
1. Have descent trading system...Simpler the better.
2. Risk 1-3% of your account for each trade..
3. Money management.
4. Money management.
5. Money management
6. Money management.
7. Money management.
8. Money management.
9. Money management.
10. Money management.
The reason people fail because they don't follow these simple rules and are toooo greedy. Like myself :P but I'll be sure to come back and follow.
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