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Day Trading

Written by ForexCult Team
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Day Trading If you are a trader and you are considering trading there are keys that you should know in order to be successful at trading. In fact, you ability to understand the key components that add up to successful trading will guide you in the right path to develop a trading strategy that can actually produce you strong profits no matter what market environment that you should choose to trade in. The following article will give you a few pointers that are related to trading that you should take into consideration when you are participating in trading. Before I enlighten you with those pointers, I would like to discuss with you why it is important that you take the advice of others that are already experienced in trading and that can help you out a great deal when it comes to helping you advance in the market and learn ways that you can earn money quick and easy without making big mistakes that could cost you everything. I know that you are aware of the old saying “practice makes perfect”, well when it comes to trading this is especially true however it is referring to other trading too. Before you start day trading it is important that you take a course on trading that will allow you to take a look at what you are getting into. There are many courses out there that will actually train you in day trading while you are earning money at the same time. When it comes to day trading this is method that most courses recommend because it allows you to have hands on experience. If someone known as a professional in day trading offers you advice please take it, you will learn that not everyone is out to ruin you and there are honest people out there that will be more than happy to help you prosper in trading because they were once in your shoes too. Day Trading and the Pointers When you are trading, it is important that you always cut your losers quickly. This is one of those lessons that can not be emphasized enough to day traders. It is important that you remember that day trading is not a matter of what percentage of winners you have it is about keeping the amount of losers that you have small and in return allowing yourself to protect your trading capital. The second pointer that you are going to want to keep in the back of your mind is that the profits from trading must be maximized. When referring to maximizing your profits, this means that you are going to need to let your winners ride. If you notice that an estimated fifty percent of your trades are indeed winners, that means that the amount of trades that you have that are profitable must be higher than the amount of the trades that you have that are consider to be your losing trades. By letting your winners ride you are allowing yourself to come out ahead in the long run. Day Trading and Stocks Another pointer that you may want to consider when participating in day trading is that you are going to need to follow the same stocks constantly. You must keep in mind that day trading is about actually be able to spot the price patterns and also breakouts, not to mention other trading opportunities that arise along the way. By allowing yourself to follow the same stock each and everyday you are allowing yourself to actually get a real feel for how the stocks trade. In case you aren’t aware of the definition of day trading yet, day trading is used to refer to the entering and also exiting of a stock, options or also other trading position in the same say of trading. However, there are some advantages of day trading and you should make sure that you take the time to get an overview of the advantages of day trading. Day Trading in General Before I end this session on day trading, I am going to give you a list of some of the advantages of day trading, however keep in mind that this list is not in its entirety and there are more advantages of day trading that I have listed here. The first advantage of day trading that you will have is the zero overnight risk, and the second advantage is the profit that you will make in any market direction.

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Which is the Best Forex Broker you have traded with?

Interview with Matthew Sheppard

Senior Forex Advisor at XForex

1. What is your name and position?

Hello, my name is Matthew Sheppard and I am a senior forex advisor at XForex.

2. What is your experience and professional background?

In the last 6 years I had filled several positions in financial institutions such as a stock broker, a foreign exchange desk manager, a financial consultant and in my recent role I serve as a senior Forex advisor for XForex which is an online forex company.

3. What type of clients you deal with?

We deal with clients on all levels from the beginning stages to the more advanced trading levels.

4. Does most of your business activity come from the online or offline world?

Because of our high presence on the web, most of our business comes from the online world.

5. Why should a trader pick XForex from all forex brokers?

Aside from all the benefits that XForex offer like commission-free trading, 24/7 online support, high leverage (200:1), XForex offers educational and learning trading experience that you won’t find anywhere else..

Our team of experts and financial trainers provide personal assistance and guide clients to financial success. We provide daily analysis and market reviews to our clients giving them a better understanding of the market and helping them trade profitably.

6. From your experience, what advice would you give a person who wants to enter the forex world?

My advice to the beginning trader entering the Forex world is as follows:
  • Learn the market and understand what you’re getting into.
  • Research and find the broker that suits your needs and wants. Look for a good offering but more importantly customer service, don’t go for the low rates offer without being certain they have a good customer service department. From my extensive experience in the Forex world your key to success will be your client-broker relationship. I can honestly say that at XForex they put an emphasis on servicing clients, which is so important.
  • Invest smartly and calculate your risks.
  • Always know when to get out of a trade.

Broker of the Month

5_small_logoUFXBank provide up-to-date charts and news feeds, coupled with an easily navigated trading platform. UFXBank traders can access the biggest market in the world 24 hours a day with ease.

By keeping their platform, site and deposit process simple, safe and secure, UFXBank have become the web’s premier online forex trader.