Currency Day Trading System

Dictionary Says

Definition of 'Currency Day Trading System'

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.
Investopedia Says

Investopedia explains 'Currency Day Trading System'

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.

Sign Up For Term of the Day!

Try Our Stock Simulator!

Test your trading skills!

Related Definitions

  1. Authorized Forex Dealer

    Any type of ...
  2. Base Currency

    The first ...
  3. Runoff

    The procedure of ...
  4. Currency Pair

    The quotation ...
  5. USD

    In currencies, ...
  6. Daily Cut-Off

    In the forex ...
  7. Forex - FX

    The market in ...
  8. Forex Futures

    An ...
  9. Interbank Market

    The financial ...
  10. Quote Currency

    The second ...

Articles Of Interest

  1. Top 7 Questions About Currency Trading Answered

    Whether you're puzzled by pips or curious about carry trades, your queries are answered here.
  2. How many types of markets can an investor choose from?

  3. Using Double Tops And Double Bottoms In Currency Trading

    Find out how to apply the two most common price reversal patterns to your trading.
  4. A Primer On The Forex Market

    Moving from equities to currencies requires you to adjust how you interpret quotes, margin, spreads and rollovers.
  5. Trade Forex With FXTrader

    Open up the big bad world of forex trading by virtually trading 10 of the most popular currency pairs on our NEW forex trading simulator.
  6. Getting Started In Forex

    Before entering this market, you should define what you need from your broker and from your strategy.
  7. Getting Started In Forex Options

    Stocks are not the only securities underlying options. Learn how to use FOREX options for profit and hedging.
  8. Getting Started In Foreign Exchange Futures

    Learn how these futures are used for hedging and speculating, and how they are different from traditional futures.
  9. Commodity Prices And Currency Movements

    Find out which currencies are most affected by fluctuations in gold and oil prices, and improve your trading.
  10. How To Become A Successful Forex Trader

    Discover a framework that will help you build your own profitable forex trading strategy.

comments powered by Disqus
Recommended
Loading, please wait...
Trading Center