With a daily trading volume of $6.6 trillion, it’s easy to see why traders of all levels are captivated by the global forex market.
The market has attracted hundreds of thousands of new traders; according to Statista, there are more than 300 000 forex traders in Nigeria.It’s easier than ever to become a trader today, all you need is access to the internet and a trading platform. To be successful, however, you need to partner with an award-winning broker, such as CMTrading.
CMTrading believes in uplifting all our clients through education and delivering a safe, secure trading platform.To help you on your journey here are top tips for being a successful day trader:If you work full-time, a flexible-trading style may suit your needs. Swing traders review charts in the evenings, identify possible trades and leave open positions for a few days. You can earn a steady income stream by performing 3 to 5 trades a week.
Another style of trading that’s popular with those with more free time is day trading. The traders open and close trades on the same day. If you have some time in the mornings you could potentially perform some trades as the markets open.Big economic news especially in the USA and EU will move the markets. The US employment figures, called the Nonfarm Payrolls report, will move the US dollar. Likewise, a major conflict, such as Russia’s invasion of Ukraine, will rock the global economy.