Forex Day Trading App, HOW TO USE META TRADER 4 (Mobile App) – Day Trading Account Rules.
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WHO AM I?
(2 minute read)
What’s up guys its Colt here. I don’t know if you know but I’ve been trading forex for over 5 years now. I started when I was 17 going on 18 years old and it completely changed my life. Obviously this isn’t for everyone… But if you work your a$$ off and are willing to dedicate time and energy into learning how to properly trade anything is possible. Let me remind you I’ve NEVER worked a job in my life. When I was 17 years old I was getting into a ton of trouble in school and with the law. It wasn’t just affecting where id be in the future but it was affecting my relationship with my own father. You see I don’t have a mom in my life.
My dad is the sole provider for the family. My older brother told me one day “Colt you need to realize that your actions aren’t just affecting your life but you’re slowly but surely killing our dad with all the stress you’re putting in his life!” That hit me like a train… You see everyone little action you make has a reaction (Good for bad). I decided to look for work to get back on my dads good side. It was a struggle but long story short I was introduced to forex and it changed my life.
At 19 years old I hit a 6 figure income and started living my dream life. But what really impacted me to put 110% into learning forex was my WHY (What, hurts, you.) My dad was my why. I needed to prove to him that my past doesn’t define who I will be in the future. Everyday I look back at where I first started and am so grateful for who I am today and how much I’ve grown as Colt. We all have dreams and goals. I want you to think of forex as a way to get to your dreams and goals quicker.
DISCLAIMER: I am not a financial adviser. The videos i post on my channel are for educational and entertainment purposes only. I’m just showing you guys how I invest/day trade and if you can take my ideas and create a foundation based on my opinions, great! But beware, investing of any kind involves risk. Your investments are solely your responsibility. While day trading can bring serious gains, it can also bring serious losses! So make sure you do your own research to fully understand the markets.
, Forex Day Trading App
Day Trading Account Rules HOW TO USE META TRADER 4 (Mobile App).
Explore Users Vids Top Searched Day Trading Account Rules.
Advantages as well as Drawbacks of Day Trading
One of the most substantial benefit of day trading is that placements are not influenced by the possibility of negative over night information that has the potential to influence the cost of safeties materially. Such information includes crucial economic as well as incomes reports, as well as broker upgrades as well as downgrades that happen either before the marketplace opens up or after the marketplace closes.
Trading on an intraday basis uses a number of other key advantages. One benefit is the ability to make use of tight stop-loss orders the act of increasing a quit cost to reduce losses from a lengthy setting. One more includes the boosted access to margin as well as thus, higher take advantage of. Day trading also gives traders with more knowing possibilities.
Nevertheless, with every positive side, there are also storm clouds. Disadvantages of day trading include not enough time for a setting to see increases in revenue, sometimes any type of revenue at all, as well as boosted compensation costs due to trading a lot more often which gnaws at the revenue margins a trader can anticipate.
Forex Day Trading Advantages
- Positions are generally shut at the end of every day as well as are so untouched by danger from over night information or off-hours broker moves.
- Limited stop-loss orders can secure placements from extreme motions.
- Regular traders have actually access to boosted take advantage of as well as reduced payments.
- Various trades enhance the hands-on knowing experience.
Forex Day Trading Drawbacks
- Constant trades do indicate multiple compensation costs.
- Some assets are off-limits, like mutual funds.
- There may not be sufficient time for a setting to realize a profit before it needs to be closed out.
- Losses can place quickly, particularly if the margin is used to finance acquisitions. Margin telephone calls are an actual danger.