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You can learn can learn forex day trading if you practice enough to master all the skills and trading psychology. The only way to get good at something is to actually do it and keep doing it until you stop making rookie mistakes and start having confidence that comes from experience. The best way to succeed in forex is to find a trading plan that works and copy it.

Many beginning traders don?t fully understand the concept of leverage. Basically, if you have a start up capital of $5,000 and if you trade on a 1:50 margin you can effectively control a capital of $250,000. However, a two percent move against you and your capital is completely wiped out. If you are a beginning trader you should not use more than 1:20 margin until you get comfortable and profitable and then and only then you can attempt to use higher margins. What does 1:20 margin mean? It means that with your $5,000 you will control a capital of $100,000. Let?s say you are trading EUR/USD and by using our entry strategy you have decided to enter the trade on a long side. That means that you are betting that USD will depreciate against Euro.

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