Today’s financial trading markets are very volatile. This is due to the ever changing global market conditions and the hoard of financial data that come in each and every day.
Volatility and market changes provide trading opportunities. The best place to identify these is in the foreign currency exchange market which is commonly known as the Forex market.
WHAT IS INTRADAY FOREX TRADING
This type of trading involves entering a trade and exiting the same trade to lock in your profits in one day. Given the vastness of the Forex markets and the fact that there are trillions of dollars traded a day, there is no shortage of trading opportunities.
Average profits taken can range from 4 to over 100 PIPS. An average trader can easily find and place 5 trades a day given that these are short, simple and have clear entry and exit points. So, over time, intraday trading can make you a lot more money than placing longer term trades.
SHORT TIMING CREATES LESS STRESS AND MORE CONTROL
Intraday trading involves less stress because by definition you are in and out fast. No need to stress over whether to keep riding a profitable trade or whether a nonperforming trade will turnaround. Greed and fear are the main reasons people fail at trading. With shorter length trades, follow your method religiously and there is no time to let these emotional factors get in the way of your profit making.
Because you can trade foreign currencies close to 24 hours a day, you can choose what times of day or night you want to trade. At any given time, an effective trading method will reveal many trading opportunities.
STICK TO YOUR FOREX METHOD AND LOCK IN PROFITS EVERY TRADING DAY
Intraday traders make lots of money by identifying entry points and exit points and religiously sticking to their forex trading method to lock in profits consistently. They do not fall into the trap of other traders who get greedy and leave trades open too long. They know that there are multiple opportunities each and every day and because of this, they do not sweat over any lost profits.
CURRENT MARKET OPPORTUNITY
Advanced forex traders have been claiming that given the volatility of the markets, short term trading opportunities are plentiful in today’s markets and you can easily identify entry and exit points using simple indicators.
There is no need to learn and understand complex charts and data. You can identify opportunities by quick visuals of simple trading charts.
The key is to learn effective trading methods focusing on locking in profits quickly and to develop a system and time for trading that works for you.