buying and selling currency in the same day is called day trading.
Characteristics of Day trader:
Knowledge and experience
Sufficient capital
Strategy
Discipline
Types of day trading Strategy:
Scalping: Here profit target is small, Time frame for trend 1 hrs, Entry 15/5 mins
Fading: Entry at the to of trend
Momentum: Trading on news release
Daily Pivot:
Time frame:
4 hrs time frame for trend detection
1h
30 min for Entry or exit
Factors need for day trading:
Volatality and liquidity
Characteristics of Day trader:
Knowledge and experience
Sufficient capital
Strategy
Discipline
Types of day trading Strategy:
Scalping: Here profit target is small, Time frame for trend 1 hrs, Entry 15/5 mins
Fading: Entry at the to of trend
Momentum: Trading on news release
Daily Pivot:
Time frame:
4 hrs time frame for trend detection
1h
30 min for Entry or exit
Factors need for day trading:
Volatality and liquidity
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