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Have less than $25,000? Try Forex Day Trading
Forex day trading allows for smaller trader to get involved in day trading the markets. If you live in the United States, you need to have at least $25,000 in your trading account to day trade stocks. Because of this, Forex day trading may be the answer if you are just starting out.
If you are a technical trader, you will find that almost no market trades on technicals more cleanly than the Forex markets. Forex traders tend to follow such standard technical analysis as 50% Fibonacci retracements, moving averages, trend lines, and other such basic technical standards much closer than stock traders. Because of all of this, you will find the day trading Forex can be done if you are a disciplined trader.
Another advantage to Forex day trading is that there is no particular open or close. The same day trader that has less than $25,000 to trade with is probably a fairly new trader. As such, they probably will have a day job as well. Since the Forex market doesn't open or close like the stock markets do, the person with a day job can day trade what would be considered the Asian session after they get home from work.
Day trading the Forex markets is also easy because of the liquidity of the markets. With almost $4 trillion traded every single day in the Forex markets, you will find that it is extremely rare that you will have trouble getting filled that your specified price. This allows for a great "scalping" environment as well, allowing the day trader to easily trade for short, small, and quick gains.
With the Forex market, you only have to watch a few currencies. Because of this, there is a lot less "noise" in the markets typically. This allows for the day trader to focus more on the overall trend, and setups that confirm that trend. With just some basic technical analysis, vague understanding of the overall direction of the country's economy, and patience, a person can easily day trade the Forex marketplace on their own terms and in their own time.
Good luck, hope it helps,
Hubert
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