In this article I will make a couple of points why day trading forex currency is the best type of day trading that you can do. When you decide to day trade you have various options available to you in terms of what you are going to trade.
Day trading Stocks
Some people prefer to day trade stocks, but then you will have to do a fair bit of fundamental analysis as well in terms of the background of the stock. You will also have to actually find a stock that has some movement on a daily basis otherwise it will be like watching paint dry.
Day trading Index Futures
There are a very large community which day trades the index futures like the S & P 500 mini ( ES ) , Russell E mini and other futures. These index futures are certainly very suitable for day trading with great volatility as well as movement on a daily basis. There are many very successful traders who exclusively trade in particular the ES.
The downside of trading the index futures is that they are largely US based with market that opens in US time. If you do not reside in America the market can be open in the middle of the night if you wish to trade it.
You can also choose to trade your local commodities or futures should you live in a country that has an exchange – but the type of trading as well as opportunities are not nearly the same as the bigger markets.
Day trading forex currency
In my opinion day trading forex currency is your best option in terms of day trading. With forex currency you have a market that is open 5 days a week for 24 hours per day. Sure – you also have certain market opens as well as closes, but there is always a major market open no matter where you reside in the world.
When day trading forex currency you also have the unmatched liquidity of the forex market which is by far the biggest market in the world. The forex currency market is also the most volatile as well as trendy market in the world, and there is always plenty of trading opportunities available at all times.
When day trading forex currency you also do not have markets that virtually comes to a standstill during holiday times – you can continue day trading if you should choose to do so.
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