{"id":1466,"date":"2009-06-16T07:00:23","date_gmt":"2009-06-16T11:00:23","guid":{"rendered":"http:\/\/club.ino.com:80\/trading\/?p=1466"},"modified":"2009-06-16T06:56:09","modified_gmt":"2009-06-16T10:56:09","slug":"forex-markets-day-trading-versus-end-of-day-trading","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2009\/06\/forex-markets-day-trading-versus-end-of-day-trading\/","title":{"rendered":"Forex markets: Day trading versus End of Day trading"},"content":{"rendered":"<p>At MarketClub.com, we cover the Forex markets with real-time streaming data, but trader's blog members often ask which is better: Day Trading or End of Day Trading the Forex markets. To help answer that question and answer ANY other Forex questions you might have is Bill Poulos. Bill's developed an amazing <a href=\"http:\/\/broadcast.ino.com\/redirect\/?linkid=1011\" target=\"_blank\">Forex Income Engine 2.0 course<\/a> (goes live at 10am today), and has decided to give us one more post and clear his schedule to answer any and ALL questions you might have for him! Please comment below with your own thoughts on which is better for Forex trading and your own personal experiences!<\/p>\n<p>==================================================================<\/p>\n<p>Forex traders often ask: \u201cIs it better to trade the Forex markets on an end of day basis (with daily charts) or a day trading basis (with 5, 10, 30, etc minute charts)?\u201d<\/p>\n<p>There is no right answer to this question, as I believe it depends on your individual circumstances, preferred style of trading, amount of starting capital, and volatility in the markets.<\/p>\n<p>Let\u2019s take these one at a time.<\/p>\n<p><!--more--><\/p>\n<p>Individual circumstances:\u00a0 Here, I am talking about your lifestyle.\u00a0 Are you working a full time job with no access to a computer on a regular basis?\u00a0 If so, day trading would be limited to after or before work hours.\u00a0 This can still work fine as the Forex markets are 24 hour markets, allowing you to trade them within whatever your personal schedule happens to be.\u00a0 On the other hand, in this situation, you may prefer to trade only on an end of day basis (after the New York session ends at 5 PM EST) where you would have several hours to evaluate the markets and place trades before the London session opens.\u00a0 Or as many Forex traders do, you may elect to do both, taking very short term day trading positions when your schedule allows and trading longer term positions on an end of day basis.\u00a0 If, on the other hand, you have regular access to a computer during the work day, you may want to day trade exclusively or do both.<\/p>\n<p>Preferred style of trading:\u00a0 Regardless of your lifestyle and work schedule, you may simply prefer day trading over end of day trading.\u00a0 Day trading is much faster paced and can yield significant pips in a matter of minutes.\u00a0 Or you may prefer a slower paced level of trading that is provided by trading on an end of day basis.\u00a0 And again, many traders prefer to do both.<\/p>\n<p>Amount of Starting Capital:\u00a0 Generally speaking, less capital is required to day trade than is required for end of day trading.\u00a0 This is because the number of pips of initial risk in the trade is generally smaller than is the case for an end of day trade.\u00a0 A day trader can start with as little as $500 and still adhere to prudent risk management principles of appropriate position size.\u00a0 An end of day trader will require a larger account size to adhere to those same risk management principles.<\/p>\n<p>Volatility in the markets:\u00a0 There are times when the Forex markets are more volatile, like the past several months.\u00a0 When this occurs, the initial risk in a daily chart trade (end of day trading) may be too high for the trader to take the trade without violating prudent risk management principles (which should never be done).\u00a0 On such occasions, what many traders do is switch to their intraday charts and day trade with less initial risk and still have the opportunity to capture the profit potential in these markets.\u00a0 Of course, to have this flexibility as a trader, you must have mastered good day trading as well as end of day trading methods.\u00a0 This puts you in a position to become a master trader, where you can trade on an end of day basis when the initial risk is within your risk parameters and when it is not, to switch to day trading a shorter timeframe, as short as a 5 minute chart.<\/p>\n<p>By considering these factors carefully, each trader will find the answer to the question of day trading, end of day trading, or both that best suits them.<\/p>\n<p>Bill Poulos<br \/>\n<a href=\"http:\/\/broadcast.ino.com\/redirect\/?linkid=1011\" target=\"_blank\">Forex Income Engine live at 10AM Eastern<\/a><\/p>\n<pre>Forex Income Engine at\r\n10am eastern time TODAY!<\/pre>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>At MarketClub.com, we cover the Forex markets with real-time streaming data, but trader's blog members often ask which is better: Day Trading or End of Day Trading the Forex markets. To help answer that question and answer ANY other Forex questions you might have is Bill Poulos. Bill's developed an amazing Forex Income Engine 2.0 [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1488,2129,2126,1828,2130],"class_list":["post-1466","post","type-post","status-publish","format-standard","hentry","category-general","tag-bill-poulos","tag-day-trading-versus-end-of-day-trading","tag-forex-income-engine-20-course","tag-forex-trading","tag-whats-the-best-way-to-trade-forex"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v23.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Forex markets: Day trading versus End of Day trading - INO.com Trader&#039;s Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wwwtest.ino.com\/blog\/2009\/06\/forex-markets-day-trading-versus-end-of-day-trading\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Forex markets: Day trading versus End of Day trading - INO.com Trader&#039;s Blog\" \/>\n<meta property=\"og:description\" content=\"At MarketClub.com, we cover the Forex markets with real-time streaming data, but trader&#039;s blog members often ask which is better: Day Trading or End of Day Trading the Forex markets. 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