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While Forex Factory can be used with this browser, most features will not function as designed. If you decide to engage in day trading for a living then this can be a very profitable venture for you.
If you are considering day trading to make a living, you should be prepared emotionally to handle the good as well as the bad days.Your bank account should also be able to support your ability to leverage enough money to stay afloat until you start to rake in the profits. As a day trader you need to understand how the margin accounts work, how much time they will have to meet a margin call and the potential for overextending your credit beyond what you can afford to lose.

Apart from the fact that you can lose money quickly on a bad trade, day trading can be quite expensive since the trader will pay the spread multiple times throughout the day and incur multiple commissions. Even experienced traders do incur losses but they bounce back stronger than ever and that is the key to success.If you want to indulge in day trading for a living by all means go for it.
Elder pointed out mistakes that I normally do while Trading and then I realised that every amateur does the same thing and this has helped me to understand the crowd behaviour.For those who know Technical analysis can quickly go through the Trading Tactics part of this book but do read the Crowd psychology of every trends and pattern. Do not use money that you use for your daily living or money you have saved up for your retirement as no matter the kind of experience you have, day trading is still a gamble.

Try to stay positive even when you make a loss and do more research to make better trading decisions instead of giving up.

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Author: admin | 11.03.2015 | Category: Can You Make Money Trading Options

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