Currency Day Trading News: Sovereign Debt under Pressure Euro Down

Euro is under pressure again, this is an article by Bradley Davis Of Dow Jones Newswire

NEW YORK (Dow Jones)--The euro fell against the dollar Thursday as concerns once again heated over the region's simmering issues of sovereign debt.

Illustrating the increasing worry over the region's fiscally stressed periphery, the cost to insure against default on government debt issued by Portugal, Ireland and Spain all hit record highs.

"Pressure relating to the debt crisis is rising in the euro zone," said analysts at Commerzbank in Frankfurt.

Thursday morning, the euro was at $1.3703 from $1.3780. The dollar was at Y82.26 from Y82.30, while the euro was at Y112.72 from Y113.42. The U.K. pound was at $1.6132 from $1.6118. The dollar was at CHF0.9694 from CHF0.9713.

The ICE Dollar Index, which tracks the greenback against a trade-weighted basket of currencies, was at 77.928 from 77.652.

Euro-zone officials were out in force to calm markets, with European Commission President Jose Manuel Barroso telling reporters in South Korea, where he was attending the summit of the Group of 20 industrialized and emerging nations: "The EU is ready to support Ireland." Full article here

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Forex Day Trading - Forex Hedging

Hedging is defined as holding two or more positions at the same time, where the purpose is to offset the losses in the first position by the gains received from the other position.

Usual hedging is to open a position for a currency A, then opening a reverse for this position on the same currency A. This type of hedging protects the trader from getting a margin call, as the second position will gain if the first loses, and vice versa.

However, traders developed more hedging techniques in order to try to benefit form hedging and make profits instead of just to offset losses.

For the full article go to earnforex.com

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Currency Day Trading - Leave Out the Emotions

The key to making money in the currency exchange market is to avoid emotional decisions and to follow a carefully thought out strategy that takes the current market and history into account. Going with your gut is not the way to go in the Forex market. Going with your gut could cost you money. Forex trading is a highly volatile market where emotions tend to run high. Emotions can influence your trading decisions, unless you have a strategy planned in advance, and stick to it, no matter what you think you're seeing at the moment. The keys to success in Forex are system, analysis and perseverance.

Read the full article at earnforex.com

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Forex Day Trading - Economics for Fundamental Analysis

Let's begin our brief examination of fundamental analysis by observing that up until a century ago there was only one school of analysis, and there were still a large number of self-made trading millionaires. That one school of analysis, of course, was fundamental analysis. Technical analysis has been with us as an organized discipline since the end of the 19th century, but fundamental analysis has been here since the beginning of economics in the days of Lydians and Persians, at the very least. Those new to online Forex trading can benefit from this little detail as they make their decisions about the merits of the two schools of analysis.

Fundamental analysis aims to predict future market action on the basis of economic data and news. While technical analysis focuses strictly on the price, fundamental analysis studies the economic, political, and social dynamics in an economy in order to reach conclusions about an asset, which is a currency pair in Forex of course.

Read the full article at earnforex.com

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Forex Day Trading -Forex Market Indicators

All the investors in the forex market often base their decisions in trading upon economic and political news around the world. Forex and stock market depend on the countries economy. Using of industrial production index is the best way to predict the market trends in the future. All the traders are using this market indicator specially the traders who want to trader for a long time because if a country's economy is improving definitely its currency rate goes up and if the economy is decreasing, currency rate will automatically goes down.

Read the full article at earnforex.com

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Forex Day Trading - Spreads, Commision and Costs

The forex market is quickly becoming one of the most popular markets for trading.

Not only are the experienced traders looking to this market to maximize their trading returns, but many new, individual investors are now able to trade the Forex market — just as they do stocks and futures.

More and more individuals are seeing Forex not only as a new way to diversify their portfolio, but are also finding that it is becoming the most profitable component of their investments.

And that's because of the many advantages Forex offers over other markets like stocks or commodities. Here's what you will typically see advertized about Forex:

— Unparallelled liquidity. It is the largest financial market in the world by far. Almost $2 trillion being traded daily!

— Excellent leverage potential. Individual investors have access to leverage of 100:1 and even 200:1

— No Commissions (more on this later on)

— Low trading costs.

And yes, the Forex market really does offer all these advantages.

But the last two points above talk about costs, and that's what we'd like to focus on in this article.

Read the full article at earnforex.com

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Forex Day Trading = Forex vs Futures

Todays current futures market is quite unlike the futures of the 19th century. Todays future market is a worldwide one that includes manufactured goods, financial currencies and treasury bonds, and agricultural products.

When you speculate on futures it is not the actual good that is speculated upon rather it is the contract for the goods that is traded as value. Every futures contract includes a buyer and a seller. The following is an example of a futures speculation: A farmer agrees to deliver 1000 bushels of corn to a baker at a price of $5.00 a bushel. If the daily price of corn futures falls to $4.00 a bushel, the farmer's account is credited with $1000 ($5.00 — $4.00 X 1000 bushels) and the baker's account is debited by the same amount. Futures accounts are settled every day.

Read the full article at earnforex.com

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Forex Day Trading - Forex Advantages over Futures or Stocks

There are many different advantages to trading forex instead of futures or stocks, such as:

1. Lower Margin

Just like futures and stock speculation, a forex trader has the ability to control a large amount of the currency basically by putting up a small amount of margin. However, the margin requirements that are needed for trading futures are usually around 5% of the full value of the holding, or 50% of the total value of the stocks, the margin requirements for forex is about 1%. For example, margin required to trade foreign exchange is $1000 for every $100,000. What this means is that trading forex, a currency trader's money can play with 5-times as much value of product as a futures trader's, or 50 times more than a stock trader's. When you are trading on margin, this can be a very profitable way to create an investment strategy, but it's important that you take the time to understand the risks that are involved as well. You should make sure that you fully understand how your margin account is going to work. You will want to be sure that you read the margin agreement between you and your clearing firm. You will also want to talk to your account representative if you have any questions.

Read the full article at earnforex.com

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Forex Day Trading - ECN vs Market Makers

This article assumes some knowledge of the way the forex market and forex brokers work. If you are not familiar with this, we recommend that you first read our Structure of the Forex Market and Structure of Forex Brokers articles. Contrary to popular belief, ECN's are not superior to Market Makers in every way. There are advantages and disadvantages on both sides.

Minimum Deposits

There are retail market makers out there today that allow traders to begin with $1 in their accounts. That’s not to say that this is a great feature, but it does present options to people who may not have the kind of money it takes to open a Currenex account. It’s a good thing too, because ECN contract sizes are often multiples of $1 million, and some ECNs expect a daily volume of $25 million. Shackled with those types of minimums, you had better be well Capitalized (with a capital “C”).

Read the full article at forextradingzone.org

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Forex Day Trading - Trend trading Buying on dips and selling on rallies

Those members who have purchased our systems will quickly acknowledge that we have a fondness for trading systems that go long on dips and short on rallies. We have developed at least one system with that strategy in each of the markets we trade. In the S&P market and the Bond market we have developed more than one system that takes this preferred approach.  The benefits of buying into an uptrend on dips and selling into a downtrend on rallies are probably obvious.

If we compare the dips and rallies approach to entering on breakouts we can see that the "dips" entry strategy allows us to enter at cheaper prices with less risk and more profit potential. That is a nice combination of benefits. In this Bulletin we will share some of our conclusions from our many hours of research on how to identify these potentially profitable opportunities. 

Read full article at TradeJuice.com

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Forex Day Trading - Hedging a Good Thing?

It's easy to describe what an unhealthy risk is: scuba diving with a Great White Shark while holding a raw, rib-eye steak in your hand, for example. But it's a little harder to discern what a healthy risk is. Some seem to think safety in numbers amounts to a healthy risk -- the more partakers, the less the risk. In other words, as measured by head count, it looks like a lot of investors have followed Wall Street's lead: Living on the h-EDGE fund is, indeed, a safe bet. A December 15 New York Times article reports:

"Hedge funds have grown at supersonic speed [to become] the most important players in today's financial markets."

And, a Wall Street Journal column from the same day explains just how "important" IMPORTANT really is:

• In the first 10 months of 2004, $106.6 billion flowed into hedge funds vs. $72.2 billion in all of 2003.
• Assets in hedge funds have grown by 260% over the past five years, to a $1 trillion total ($1,000,000,000,000).

With this many zeros, it's natural to think. Superior performance in hedge funds must account for the rapid growth

Read full article at Tradejuice

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Forex Day Trading - Position Sizing is Important

Position sizing is a simple, effective trading strategy to maximize profits.  Even with a great  trading system, if you don't manage your money properly, you're just polishing the brass handles of a sinking ship.  Yes, even if you have a great strategy, poor position sizing will run your financial ship of opportunity into the rocks.

This is especially so if your trading account is not very large.  For the sake of simplicity, lets' say you have an account of $100 and you invest $25 per trade.  Obviously, if you incur only four losses in a row, your account would be wiped out!

On the other hand, what if you invested only $2 per trade with the same account (the famous 2% rule)?  It would take a string of fifty losses to clean you out.  But, being unnecessarily "safe" can also result in a loss in profits.

Read the full article at TradeJuice.com

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Forex Day Trading - Trading Frequency

When building or evaluating trading systems the many benefits of systems that trade very frequently are often overlooked. A system that trades frequently has many advantages over less active systems that appear to be more desirable because they have better performance ratios. If a strategy is profitable the more it trades the more money we should make. I apologize for stating what should be obvious but you would be surprised at how often I hear discussions about selecting systems with the highest level of "expectancy" or highest "profit factor" without relating these measurements to the system's trading frequency.

Simply stated, our goal should be to show the most profit with the least amount of risk and trading frequency plays a critical role in maximizing profitability and controlling our risk.

Trading frequency represents opportunity for profit. The more opportunities we can find the more profit we should expect.  Read the full article at Tradejuice

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Currency Day Trading Global trade and Forex

The global economy facilitates the fluid movement of products and services around the globe, a trend that has continued virtually uninterrupted since the end of World War II. It is unlikely that the architects of this system could have envisioned what it would become when they met in the New Hampshire resort of Bretton Woods in July 1944, but much of the infrastructure they brought into existence continues to be relevant in today's global market. Even the name "Bretton Woods" lives on in a modern guise, characterized by the economic relationship the U.S. has with China and other rapidly developing economies. Read on as we cover the modern history of global trade and capital flows, their key underlying economic principles and why these developments still matter today. 

Read full article at Investopedia

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Forex Day Trading - Money Management by a Pro

Put two rookie traders in front of the screen, provide them with your best high-probability set-up, and for good measure, have each one take the opposite side of the trade. More than likely, both will wind up losing money. However, if you take two pros and have them trade in the opposite direction of each other, quite frequently both traders will wind up making money - despite the seeming contradiction of the premise. What's the difference? What is the most important factor separating the seasoned traders from the amateurs? The answer is money management.

Like dieting and working out, money management is something that most traders pay lip service to, but few practice in real life. The reason is simple: just like eating healthy and staying fit, money management can seem like a burdensome, unpleasant activity. It forces traders to constantly monitor their positions and to take necessary losses, and few people like to do that. However, as Figure 1 proves, loss-taking is crucial to long-term trading success.

by Boris Schlossberg, read full article at Goforex.net

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Currency Day Trading - Make Money Day Trading Possible?

What if I was to tell you that day trading forex could potentially be the most dangerous and unprofitable activity for you and your portfolio. Honestly, there are better ways to trade forex than day trading, and easier ways to trade with much higher odds, but first let me explain these wild claims... Day Trading Forex Currency

Not only am I about to share with you the truth about forex day trading, I believe I will change your expectations and move your thinking towards trading higher timeframes with the aim of taking advantage of slightly longer term moves over several days of trading activity.

Read more: http://www.articlesbase.com/currency-trading-articles/day-trading-forex-currency-can-you-really-make-money-day-trading-forex-markets-2969459.html#ixzz10lfbdy8R 
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Currency Day Trading - Stop using your Stops?

Bob Prechter has done a lot of thinking about how to trade successfully. One startling conclusion he's come to: traders should often avoid using stops.

Here's why: If you analyze the market you're trading, you shouldn't need a stop to tell you when to get out of the trade.

In fact, the point of using Elliott wave analysis is to determine where the market is in a wave count, so that you are able to see where the trend is most likely to turn. 

Bob Prechter: I think people lose more money on stops than anything else. When a trader suffers five stop-outs at 10 S&Ps contracts apiece, that trader now has 50 points to make up. Every book says to use stops, but it is often a bad idea. Before you recoil in horror, consider that I know a futures trader who steadily makes $200,000-$400,000 every year, and he neveruses stops.

Read the full article at Tradejuice

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Currency Day Trading - How to become a Pro

Over the last few years, there has been a great deal of interest in Forex trading. This interest has been fueled by the fact that people are now starting to look for greener pastures, especially after the housing bubble burst in various countries and the slow down in the economy. Amidst all these issues, it is unavoidable that most of us feel the urge to learn to trade forex and keep abreast of investment opportunities that are made available by this exciting market.

Read more: http://www.articlesbase.com/day-trading-articles/forex-trading-how-anyone-can-trade-forex-like-a-pro-1565540.html#ixzz10aftNfre 
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Currency Day Trading - Hard Way to Money

Anyone who has ever tried their hand at forex trading will know just how difficult it is to make money on a consistent basis. It becomes a lot easier when you use a few technical indicators to help you find high probability set-ups, particularly when you focus on the longer term charts such as the 4 hour or daily charts, for instance. However it is significantly more difficult when you try and trade the markets on a short-term basis. So why is this?

Well the main reason is simply because technical analysis does not always work as well on the short-term charts. You only have to spend a few hours watching the 1 minute and 5 minute charts to find this out for yourself.

Read the full article at: theforexarticles

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Currency Day Trading - The History of Forex

The origin of Forex trading traces its history to centuries ago. Different currencies and the need to exchange them had existed since the Babylonians. They are credited with the first use of paper notes and receipts. Speculation hardly ever happened, and certainly the enormous speculative activity in the market today would have been frowned upon.

In those days, the value of goods were expressed in terms of other goods(also called as the Barter System). The obvious limitations of such a system encouraged establishing more generally accepted mediums of exchange. It was important that a common base of value could be established. In some economies, items such as teeth, feathers even stones served this purpose, but soon various metals, in particular gold and silver, established themselves as an accepted means of payment as well as a reliable storage of value. Trade was carried among people of Africa, Asia etc through this system.  Read the full article at Earnforex.com

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Currency Day Trading - 1 2 3 Forex Rule

This particular technique has been around for a long time and I first saw it used in the futures market. Since then I have seen traders using it on just about every market and when applied well, can give amazingly accurate entry levels. Lets first start with the basic concept. During the course of any trend, either up or down, the market will form little peaks and valleys. see the chart below:

Read the full article tradejuice.com

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Currency Day Trading - The Fortunate 5%

Forex Fortunate 5%

" Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it."    Warren Buffett

Caveat Emptor

The financial markets industry attracts its share of dishonest and devious people, and the Forex sector has its quota of charlatans. Please be mindful of this when assessing brokers, signal services, and the various others who populate the Forex world.

Some people are easily misled, deceived and cheated, especially traders who are inexperienced, unrealistic, and lacking a suitable temperament. Forex blogs and reviewers report various signal scams, including falsification of performance results, sending different signals to the same client base, and various other tricks. We encourage you to beware, and undertake thorough research before signing with any Forex service providers.

Read more: http://www.articlesbase.com/currency-trading-articles/forex-fortunate-5-802288.html#ixzz0zjvCLMmZ 
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Currency Day Trading - What Statistics?

Once you become somewhat familiar with how the forex market works, and you understand to a point what is involved in trading on the Foreign Exchange Market, you would want to start to gauge market trends in order to profit from your business ventures on the open market.

The name of the game is statistics, and the first rule is that you must be aware there is no such thing as a sure thing on the forex market. While you can never be 100% sure at any given time of the next move that will be made on the market as a whole, being able to read statistics and interpret them will place you ahead of the pack in regards to "guessing" what will happen next.

Read more: http://www.articlesbase.com/finance-articles/understanding-forex-statistics-406154.html#ixzz0zjuKrqQk 
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Currency Day Trading - How to trade like a Pro

Over the last few years, there has been a great deal of interest in Forex trading. This interest has been fueled by the fact that people are now starting to look for greener pastures, especially after the housing bubble burst in various countries and the slow down in the economy. Amidst all these issues, it is unavoidable that most of us feel the urge to learn to trade forex and keep abreast of investment opportunities that are made available by this exciting market.

Read the full article here

Under Creative Commons License: Attribution

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Currency Day Trading - Fibonacci Trading

Leonardo Pisano (nickname Fibonacci) was a mathematician, born in 1170, in Pisa (now Italy). His father was Guilielmo, of the Bonacci family. His father was a diplomat, as a result Fibonacci was educated in North Africa, where he learned "accounting" and "mathematics".

Fibonacci also contributed to the science of numbers, and introduced the "Fibonacci sequence"

The Fibonacci sequence is the sequence 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, introduced in his work "Liber abaci" in a problem involving the growth of a population of rabbits.

Read the full article here

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Currency Day Trading - Japanese Candlestick Charting

Introduction - New Way to Look at Prices Would you like to learn about a type of commodity futures price chart that is more effective than the type you are probably using now? If so, keep reading. If you are brand new to the art/science of chart reading, don't worry, this stuff is really quite simple to learn. Technical Analysis - A Brief Background Technical analysis is simply the study of prices as reflected on price charts. Technical analysis assumes that current prices should represent all known information about the markets.

Prices not only reflect intrinsic facts, they also represent human emotion and the pervasive mass psychology and mood of the moment. Prices are, in the end, a function of supply and demand. However, on a moment to moment basis, human emotions.fear, greed, panic, hysteria, elation, etc.

Read the full article here

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Currency Day Trading - The Point and Figure Charts

Point & Figure (P&F) charts are one of the simplest and clearest ways to determining the best time to buy and sell shares. The P&F system represents one of the oldest approaches to share market trading.

This method takes the technical analysts approach while monitoring supply and demand for each share.

And the charts are designed for long-term trading so that the time and cost of trading shares is minimal.

Read the full article here

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Currency Day Trading - Technical Analysis Mandatory

Technical analysis describes different ways of predicting the future of the stock/futures market based on its history. Unfortunately, technical analysis is not an exact science. Many prominent scientists label it as "voodoo science".

They claim that due to market efficiency, if you use TA to find your entry positions, you're no better off than someone who chooses those positions randomly.

Market efficiency means that all the available information is already calculated in the stock prices, and that you can only guess how the price will behave in the future.

By Zoran Kolundzic
www.eminitradingcourse.com

Read the full article here

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Currency Day Trading - The Moving Average

Virtually every trader has dabbled with or experimented with some sort of moving average.

What I want to introduce you to in this lesson is a different sort of moving average cross method, which I have found to be very good at identifying short term trend changes.

As we know a moving average is normally plotted using the close of a bar e.g. if you were plotting a 3 period moving average, then you would add the last three closes and divide the total by three to get a simple moving average.

Read the full article here

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Currency Day Trading - Trading With Strategy

Trading successfully is by no means a simple matter. It requires time, market knowledge and market understanding and a large amount of self restraint. ACM does not manage accounts, nor does it give market advice, that is the job of money managers and introducing brokers.

As market professionals, we can however point the novice in the right direction and indicate what are correct trading tactics and considerations and what is total nonsense.

Read the full article here

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Currency Day Trading - Pivot Point Trading

A great lesson on Pivot Point Trading.

Using pivot points as a trading strategy has been around for a long time and was originally used by floor traders. This was a nice simple way for floor traders to have some idea of where the market was heading during the course of the day with only a few simple calculations.

Read the full article here.

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How to trade Pivot Points

This is a great video on how to trade pivot points:
(made by www.leveragefx.com)

A day in a Currency Day Traders life!

"BuZZZZZ" its 8 am Wednesday, and my alarm clock is waking me. Damm is it morning already, after last nights clubbing I am still tired but I do wan't to trade today so I get out of bed. A cold shower will help to revitalize me. Ahh that felt good, walking back to my bedroom I notice that I was not alone in bed. Oops .. forgot all about her, that wonderful lady I met last night. Now also awake, staring at me, and thinking why I was out of bed. Ehmm "Good morning, I have to work now, sorry to jump out of bed so sudden, you can keep on sleeping, if you need something I am in the living room.

Damm I forgot her name, ahh well i'll find out later. Now its time for a coffee and some breakfast. After breakfast I made me another coffee and went to the living. Its 8:45am now and its time to turn on my laptop and start my currency day trading platform (forex). Now lets open some forex news sites and turn on the TV (Bloomberg of course). Hey they are actually going to help Greece with its debt problems. Good news for the Euro, now lets see what the eur/usd pair is doing. Yep it is bullish right now, looks like its going to keep on being bullish. Let see what the bollinger band and my stochastic oscillator is showing. Hmm draw a resistance line here and a support line there, that makes a triangle. OK.. it seems we are heading for a breakout. Lets check that in the daily chart, now the 4hour chart. Yep that looks promising, that is going to be my trade focus today. Now lets wait for the indicators to show me the right entry point.

My plan is to go long and I will be scalping the market today. Spread is 2 pips, so i would like to scalp at 5 pips profit. My stop loss is going to be at 20pips. This means I am working with a very tight risk/reward level. If the market turns 20 pips on me I would be hit by a lot of Loss. But it seems that everything fundamental and technical is telling me that the uptrend will keep in tact for the day. I am working with 1000 Dollar contracts, so 1 pip is 10 Dollar. So when i reach 5 pips profit ($50) the trade closes, which leaves me $30 profit after the spread.

9:45am after some waiting the stochastic oscillator is at its turning point under 20 and the bollinger is crossing the lower band. Eur/Usd 1,3620Time to jump in, lets scalp. Buying 10 contracts... hey just losing some pips now -4..-5..-6..-8... hey whats this?? Oh its ok.. its going up again -8..-3..1..5.. and my 10 trades close. Hell Yeah just made 300 Dollars. Now to buy again, when it rally's back. 1,3680, 1,367.. 6... 4. 3. and lets buy another 10 contracts, -1 pip, -2. -3. -6 ,, uhh its going further down.. thats a bargain now lets buy another 10 contracts at 1,3540. Still dropping... now at 1,3520... Starting to get some sweaty hands now... oh good its going up again. 1,3540.. 1,3570.. 1,3590.. Yeah another 10 contracts closed!!! And still going up to 1.3610, and stays in range.

Its 11:30 now, and I made $600 dollars till now, but my 10 contracts are still open with a $120 loss now. Market is still in range, its time for a coffee. With my laptop I go to the kitchen and make a coffee... hey whats that its breaking out of range... 1.362 . 3 5 . 7. 9 .... And another 10 contracts close... Yesss!!!! thats $900 Dollars profit. Time for a break now... drink my coffee and relax. My target is met what shall I do.. keep on currency day trading?? or back to bed?? ----> obvious BACK TO BED!!! now if I just could remember her name....

Damm I love my life as a currency day trader.....


* Learn Currency Trading
* Learn Forex Hedging

The little Pips of Forex

Perhaps the first question we need to ask is what does pip mean in Currency Day Trading? A pip is the smallest movement that is possible in the price of one currency against another and it is vital to be able to calculate pip values quickly and easily as it is the movement in prices which results in your profit or loss when trading.

A pip is normally, but not always, 0.0001 or 0.01%. In other words, if a currency moves from a price of 1.7650 to 1.7655 it is said to move 5 pips. The easiest way to understand how to calculate pip values is to start by considering currency pairs which involve the US Dollar and we start by considering the situation when the US Dollar is the quote currency as in the case of JPY/USD, GBP/USD or CHF/USD.
Here calculating a pip value is very easy as a pip will always have a value of $10. So, if while trading JPY/USD the market moves in your favor by 10 pips you will make a profit of $100. Let’s see how this works.
Consider a quote of GBP/USD is 1.9730. This means that 1 UK Pound is worth 1.9730 US Dollars. A standard InterBank lot size is 100,000 and which means that 100,000 UK Pounds are worth 197,300 US Dollars. If the market moves 1 pip so that GBP/USD is 1.9731 then 100,000 UK Pounds will now be worth 197,310 US Dollars – a rise of $10.
Now let’s turn our attention to what happens when the US Dollar is the base currency and consider a quote of USD/GBP = 0.6439. Here 1 US Dollar is worth 0.6439 UK Pounds and 100,000 US Dollars are worth 64,390 UK Pounds.
If the price moves up 1 pip then USD/GBP = 0.6440 and 1 US Dollar is worth 0.6440 UK Pounds and 100,000 US Dollars is worth 64,400 UK Pounds.
In this case a movement of 1 pip represents a value of 10 UK Pounds which, in US Dollars, gives a pip value of 15.53 US Dollars (10 ? 0.6440).
For a standard trading lot with the US Dollar as the quote or counter currency a pip has a value of $10 but, when the US Dollar is the base currency, the pip value will vary with the market price.

To learn more about Forex pips and currency day trading, you can visit the Currency Day Trading site.

-Learn Currency Trading
-Forex Hedging

Currency Day Trading Hype

Technology advances like the internet have spawned a new hype, where anyone with a secure internet connection prepared to undertake a small amount of training can engage in Forex Day Trading.

Read the full article at Currency Day Trading

Currency Day Trading - Trading Methods

Determining the method of currency trading you want to get involved in depends on several factors. Full article at: Currency day trading

Currency Day Trading - A week of profit and loss

Yes I had a great beginning of my currency day trading week, I profited because I was on top of the news. I was following the news about an other country's trouble. Greece is at risk of being declared bankrupt because they can not pay off their outstanding debt as a country.

This news although very bad for Europe and the Greeks, was a great time to be day trading the currency market. I knew that the dollar would gain on this grim outlook for Europe. The pressure on the euro was high, which was reflected in the volatility of the market.

Using my own Forex day trading system, I started trading the USD/EUR pair. I traded a total of 13 times. At the end of my trading day (Monday 5pm GMT) I realised a profit of a staggering 87%. Not all 13 trades were profitable, 5 were losing trades. I even had one trade hitting a 62% loss. But the total still amounted in a superb profit. What a great start of the week. I was excited.

The next day went on to be volatile, not like Monday but it was a nice time to trade. Again ending the day at a high profit of 58%.

Wednesday a day of 9 profitable trades vs 4 losing ones the total 63% profit. I was having a great week.

Thursday I wasn't trading, but Friday (for me today) I was. Wat started as a great trading week almost ended in a losing one. The market was super volatile today, the euro under tremendous pressure dropped. In a mere 4 trades I lost all of the profits I got from the week.
At the moment of closing the 4Th trade I paused and was recapping what went wrong.

It was simple I was caught in the wrong position going against the market and because of extreme volatility I couldn't close the trade on time. In mere seconds the market shifted 10pips up and down.
So I adapted, switched my platform to "one click trading", this means that with only one click I open or close a trade without the platform asking me if I am sure. The next thing I changed is that I wouldn't be trading against the market, the market was simply to volatile for this strategy.

So I waited on the moment that a great drop was followed by a great correction and jumped in at the end of the correction going with the market. And it was a success, the euro dropped in a leap. A minute in the trade I closed it with 77% profit and repeated it another 3 times till market end. Totaling the week with 112% profit.

Although still a superb profit, it could have been a devastating week. So be sure to stop and smell the roses. It is really needed to constantly asses what you are doing and don't get caught into thinking that you are on a winning streak. The winning streak could change in to a swirl of loss in mere seconds. Remember that Currency Day Trading is all about strategy, reading the market, discipline and following the news.

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