Why Should You Learn Day Trading?
It is estimated that the number of U.S. telecommuters range up to 44.4 million.While we have no statistics to determine exactly what occupations these people have, it is safe to say that working from home is becoming a more desirable options opposed to a traditional work setting. With the U.S. economic recession in 2008, millions of workers (in the U.S. and worldwide) had to find new employment, and in many cases, reinvent themselves. With a mild increase in economic performance, the U.S. has not fully recovered. Stay-at-home income, either full-time or supplementary, is still highly sought after. In recent years, we at Fx Live Day Trading have noticed an increase in people interested in wanting to learn day trading.
What Kind Of Equity To Begin Day Trading?
First let's talk about the amount you need to start day trading. We have heard stories of Traders who start with a small sum of about $1000 - $2,000 and can run this amount up to $100,000 in a few years. These stories are VERY RARE! The reality is - you should never day trade with money you can't afford to lose. To learn day trading about $2,000 to $4,000 is recommended to day trade forex. Forex trading, as compared to other types of trading, is less expensive to get into, it's high leverage and volatility can provide income to a good trader. Day trading stocks takes far more money to start, at least $25,000 or more plus higher broker fees than forex. Forex trading can be less expensive than stock trading, but is far more risky since moves can be more aggressive.
Other Requirements When Learning
Aside from the financial assets already mentioned, Forex trading requires a basic understanding of how the markets work. In forex, mt4 software is free and easy to learn, it may take some time like any software to understand how to operate it. We offer a 7 Day Trial to start traders in our room. It is best to begin any software with a DEMO account before you begin trading 'real money'. Studies show most traders often blow up most of their trading accounts in a couple of weeks and then call it quits. To stay in this game and get good, you must work hard as with any career. The next step to learn day trading, is possibly from a Mentor type of live room or trading course.
What Type Of Day Trading Course Is Suitable For You?
With many indicators, day trading systems and teachers out there, it can be confusing and a project in itself just to find the right teacher. Many of these teachers will market their product very well on the Internet, some will come up short, some will not– they sell a product, promise the moon and then disappear or refer you to the fine print. Often teachers will sell a system with a 'set in stone' approach to trading. We differ in opinion since the markets change and so does our style and strategies.
What Is The BVM Style Of Trading?
Bank variance trading is a style of trading developed by the Coaches at fx live day trading. They apply moving avgerages, support and resistances as well as other important factors to determine if a trade is worthy of taking. Trade patterns are also taken into consideration in this trading strategy.
Many traders seem to be interested in price action day trading. What we often find from those who begin on this route, is that very few actually stick with this style. If you think about it, when you drive in bright sun it is easier to see when you wear sun glasses correct? Sure you can still drive but why not have an 'edge'. This is what we consider our indicators and edge over the market vs pure price action.
Our Day Trading Course
At fx live day trading we offer unique solutions to learn day trading. We have a live room style training combined with a trading course and for those who can't always make our trading room we offer trade copier signals. Our products come with technical support and all training in our live room is open for questions via general chat or a private message in our chat room. We also provide 1 on 1 training, email support for special inquires. If you would like more info on joining our Forex trading services, or if you are not ready and would like to join our public twitter.
- Posted by fx_Trader
- On February 19, 2013
- 3 Comments