Question Details

	Username: Andrew Rating: Asked to: Tom Burke Date Created: 22 May 2017
Category	17
Tag	Financial
Question	Please give the definition of 'Currency Day Trading System'.

Advice from Guru

Hi Andrew,

A set of analyses that the forex day trader uses to determine whether to buy or sell a currency pair at any given time. The day trader's currency trading system is usually made up of a number of currency day trading signals, which are based on technical analysis charting tools or fundamental, news-based events.

Currency day trading systems can be either manual or automated. A manual system involves a trader sitting at the computer screen, looking for signals and interpreting whether to buy or sell. In an automated trading system, the trader "teaches" the software what signals to look for and how to interpret them. It is thought that automated trading takes the detrimental human element of psychology out of trading.

Both automated and manual day trading systems and signals are available for purchase over the internet. It is important to note that there is no such thing as the "holy grail" of trading systems. If the system was a perfect money maker, the seller would not want to share it.

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