
Foreign exchange (FX) day trading is an increasingly popular form of investing that involves the purchase and sale of international currencies. Day traders often use leverage to amplify their positions, allowing them to make significant gains off small investments. However, while they can potentially do very well, FX day trading also carries a high level of risk due to the volatile nature of foreign exchange markets.
In Singapore, there are several different strategies that FX day traders use. However, they must carefully consider the risks before entering any trades. This article will explore what a forex day trader does in Singapore.
Analyse market conditions
Before entering into any trades, forex day traders must first analyse the current market conditions to identify suitable opportunities. It includes reviewing the technical indicators and fundamental analysis to gauge currency movements such as news headlines, economic data releases, current events and other global developments that …