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On March 7th, Yuan Da, Secretary-General of the National Development and Reform Commission, stated at a press briefing held by the State Council Information Office that the 15th Five-Year Plan period is a crucial period for accelerating the comprehensive green transformation of economic and social development. In implementing the concept of green development, low-carbon requirements are given greater emphasis. First, it clearly proposes to take carbon peaking and carbon neutrality as the driving force, and synergistically promote carbon reduction, pollution reduction, greening, and growth. Second, it fully implements dual control over total carbon emissions and intensity. It should be noted that the shift from dual control of energy consumption to dual control of carbon emissions does not mean a relaxation of energy conservation efforts. Energy conservation remains the most direct, economical, and effective way to reduce carbon emissions.On March 7th, Zheng Bei, Vice Chairman of the National Development and Reform Commission, stated at a press briefing held by the State Council Information Office that the draft outline of the 15th Five-Year Plan has added an indicator for the proportion of nursing care beds in elderly care institutions, guiding these institutions to provide more high-quality nursing services and better meet the care needs of disabled and cognitively impaired elderly people. Simultaneously, an indicator for increasing the enrollment rate of infants under 3 years old in childcare facilities has been set, comprehensively reflecting the degree to which childcare needs are met and enhancing the publics sense of gain.On March 7, Zheng Bei, Vice Chairman of the National Development and Reform Commission, stated at a press briefing held by the State Council Information Office that the draft outline of the 15th Five-Year Plan has four key characteristics: First, in terms of planning and positioning, it emphasizes building on past achievements and laying a solid foundation for future development, while also focusing on comprehensive efforts. Second, in terms of development orientation, it closely adheres to high-quality development, emphasizing structural optimization and quality improvement. Third, in terms of task arrangement, it strengthens practicality and effectiveness, focusing on precision, efficiency, and strong support. Fourth, in terms of value orientation, it upholds the principle of putting people first, emphasizing tangible results and effectiveness.Iranian President Pezechzian: We have no hostility toward countries in the Gulf region.March 7th - The recent volatile situation in the Middle East has led to sharp fluctuations in international precious metal prices. In just a few days, market sentiment in Shenzhens Shuibei district has shifted rapidly from "chasing the rise" to "wait-and-see." The volatile gold and silver prices have not only affected the retail sector but also the wholesale sector, with retailers across the country slowing down their purchasing, resulting in a sharp decline in wholesale gold and silver volume in Shuibei, Shenzhen. During interviews, reporters found that due to the recent extreme volatility in gold prices, many consumers have chosen to wait and see, leading to a significant drop in actual transaction volume in the gold recycling business. One gold recycling merchant stated, "Recently, price fluctuations have been quite large, and most people are still taking a wait-and-see approach, unsure of how gold prices will move forward. Business volume has decreased by about 50% compared to before the Lunar New Year."

How To Day Trade Forex: An Introduction To The Technique

Drake Hampton

Mar 23, 2022 17:03

Forex day trading is a common strategy for trading currencies on charts with a shorter timeframe horizon. Continue reading to learn more about day trading forex, how to incorporate it into a plan, and how to manage risk successfully.

Forex Day Trading - What Is It?

Forex day trading is a strategy for trading currencies on an intraday basis, employing charts with a shorter time horizon (for example, 15-minute charts). Traders maintain positions over a period of minutes to hours, sometimes with the use of technical tools that aid in determining entry and exit locations. It is a kind of trading that needs concentration and discipline in volatile markets.

 

A day trader's timeframe is shorter than that of a position trader, who may have a position open for many months or even a year, or a swing trader, who may hold a position for a few weeks. It is, however, lengthier than a scalper, who exits a deal within minutes, if not seconds.

Day Trading Forex vs. Stocks

There are several distinctions between forex and equities for day trading. Here's a huge one: because day traders' holdings are not maintained overnight, they are typically unaffected by fundamental events such as specific news events that might alter prices before or after the market opens or closes.

 

However, because forex is a 24-hour market, fundamentals may alter price movement at any moment, and traders employing a strictly technical strategy should be aware of this.

 

Other critical differences between day trading forex and day trading equities and other markets include leverage levels, trade volume, and accessibility. Additional broad distinctions between forex day trading and stock day trading for US traders are shown below.

How To Begin Forex Day Trading

To begin day trading forex, individuals must first recognize that this is a difficult effort that demands rigorous planning. To increase their chances of profitability, traders must be aware of the currency markets' blend of fundamental and technical factors, as described previously. However, players must begin with adequate funds to avoid blowing their account. Forex trading is not for everyone.

 

This varies by individual, but although a few hundred dollars may be adequate to try with a real money account, a larger account size may provide a more lucrative possibility that compensates for the effort invested.

 

Additionally, traders must verify that they will have access to the charts for the duration of the time they want to spend trading each day. An unplanned journey away from the computer or mobile device, regardless of how brief, might result in the loss of critical information about price action.

 

Crucially, traders must understand the risks involved and implement a risk management strategy to mitigate them as much as possible. This implies trading no more than a predetermined proportion (say 1% or 2%) of their available money every day, starting small, using well-considered stops and limits, and adhering to a strategy.

Forex Day Trading Techniques

A profitable forex day trading strategy may entail up to five trades each day, each lasting between a few minutes and a few hours. There are several tactics available, but regardless of the strategy, day traders should aim to trade during the most liquid hours, between 8AM and 12PM ET, when the US and London markets overlap.

 

Prior to initiating a position, it is critical to ascertain the market circumstances in which the strategy will operate, as different timeframe research can provide a more comprehensive view of price activity. In the following example, 20 and 50-period EMAs are utilized on a one-hour chart to determine the direction of a larger trend with the purpose of opening and closing positions on a 15-minute chart.

 

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We'll examine a basic moving average crossover method in the example below. When the 9-period EMA crosses over the 21-period EMA and the price is above the 200-period EMA, a trader may go for longs. On the other hand, short positions may be placed when the 9-period EMA crosses below the 21-period EMA, as well as when the price falls below the 200-period EMA.

 

Here, a long green candle closes above the 200-period exponential moving average, coinciding with a bullish EMA crossover, indicating a solid long entry point.

 

A tight stop may be put immediately below the crossing, while a more aggressive stop might be placed farther down near the previous swing low. However, a stop that is too tight may cause a trade to close prematurely, while a stop that is too far away may cause losses to compound fast. Traders can eventually strike a balance that suits their style.

 

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When considering entering such a trade, you should establish a profit objective. Some traders want a profit objective of two times the risk before exiting, while others wait for a bearish crossing to occur; nevertheless, the market does not always make large changes, and a bearish crossover signaling an exit may not occur when you want it to. A goal of 15-20 pips and a stop right below the EMA crossing might result in a risk-reward ratio of about 1:3.

 

While this example utilizes moving averages, there are an infinite number of different day trading strategies and technical indicators available, including Fibonacci retracements, MACD, and RSI. Each of them may provide unique insight into overbought and oversold levels, as well as critical support and resistance zones.

 

Along with trend trading, day trading tactics may be applied to range markets, in which price generally moves in one direction. This might result in a more neutral approach than in moving markets, with traders considering both buy and sell positions near support and resistance levels.

 

Breakouts, when price breaches an established support or resistance level, may also provide new impetus and the possibility of huge pip changes, which can be thrilling for day traders as well.

Tips

  • Day trading forex has risks, which is why effective risk management is critical.

  • Trading highly liquid pairs at periods of high volume might be critical on short-term charts.

  • Multi-timeframe research can assist in providing a'more complete picture' of market activity.

  • Technical indications can aid in entry and departure decisions, particularly in the case of confluence.

  • Maintain constant attention to the charts!

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