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Trading Commodities, Commodity Options and Currencies (Collection) by Carley Garner, Paul Brittain

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13. Tips and Tricks for Currency Traders

There are nearly as many trading strategies as there are traders, but in the world of currencies, it seems as though the most common form of speculation is day trading. The term day trading simply implies that traders enter positions with the intention of being flat with the market by the close. In other words, it is the practice of entering and exiting speculative positions within a single trading day.

“Money grows on the tree of persistence.”

—Japanese proverb

Even within the realm of day trading lies a nearly unlimited number of methodologies. For instance, some day traders attempt to scalp a few ticks on each trade by rapidly entering and exiting trades in the blink of an eye; yet others hold positions ...

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