How to conduct foreign exchange day trading?

How to conduct foreign exchange day trading?

Forex trading involves buying and selling currencies. You can use currency pairs to trade one currency against another. These are usually traded on the foreign exchange market. You can find a wide variety of forex pairs, including EUR/USD, USD/JPY and GBP/USD. The currency on the left side of a currency pair is called the "base currency" and the currency on the right side is called the "counter currency".

A successful day trading strategy may involve up to five trades throughout the day, ranging from a few minutes to several hours. There are many different forex day trading strategies, and the most successful strategies involve identifying good times to trade. The most liquid trading hours are 8:00AM to 12:00PM ET, when the US and London markets overlap. The successful day trader will then know which currency pair to trade at a particular time, which will save time and money.

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