day trading forex

Take a piece of paper and write down your income after tax and all the expenses that you have. This will include the minimum payments on all your debt. Look at your expenses and then rank them in order of importance to you. Look at the items on the bottom of your list and decide whether you’d rather have them or be financially stable. The objective is to create a Strategic Spending Plan where your expenses are lower than your income. You also decide how much you are willing to spend on each area of your life.

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32508, with the last smaller digit representing the fractional pip.

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to avoid over trading get involved with discussing with other traders about your winning method without the intension of exploiting them.

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Since the target prices are so close we would qualify this as scalping, and in many cases an unfavorable money management ratio, where the number of pips you are trying to make is roughly equal to the number of pips you risk.

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You should also set Tp and Sl.