There are many ways to achieve success in forex trading, including choosing the right strategy such as day trading strategy and applying it according to the recommended trading success tips. 

This aspect makes day trading fall into the same group as scalping strategies, namely short-term trading methods. In order for a day trading strategy to give maximum results, there are several important success tips to apply in your forex trading learning process. 

It's also important for traders to join the best forex broker to guarantee that your transactions are safe. To understand about day trading, you can read the review below.

Day Trading Strategy is Not Scalping

Technically, scalping qualifies as a way of day trading, because it is done successfully by taking advantage of the smallest price movements on low timeframes. 

Thus, open and close trades will always be executed on the same day. However, day trading is not like scalping which requires traders to always take advantage of the smallest changes in price.

That's why, the timeframe and profit target of day trading can be bigger than scalping strategies. By aiming for a profit of 30-50 pips, day traders usually use successful trading tips on the 4-hour or 1-hour timeframe to observe long-term trends, and look for entry moments on the 15-minute timeframe. 

So, the first success tip in day trading strategy is, don't just stick to scalping rules. You can expand your trading options with bigger profit targets and price timeframes.

Preventing Risk is More Important Than Pursuing Profit

Despite the differences between day trading and scalping above, as a short-term trading method, the two strategies have some unavoidable similarities. One of the similarities lies in the psychological risk of high trading frequency targeting relatively low profits.

New traders who are still learning forex trading often 'regret' when trying day trading strategy, because they feel that closing positions is done too quickly.

For some traders, this experience is regrettable because there is an opportunity to make more profit that is wasted. However, in the rules of successful trading tips, there should be no regrets in the trader's dictionary. 

If it's like that, then the most common scenario is, the trader opens a long position again with the hope that the price will continue to rally upwards. 

In fact, this is not recommended in successful trading tips and is dangerous to do because open trades are only based on expectations, not measurable and objective forex analysis. 

What if after rising 60 pips, the price is overbought and soon turns down? Instead of increasing profits, traders actually get unnecessary losses that can actually be prevented.

For that, always use the following success tips: Preventing the risk of loss should always be prioritized over pursuing profits. In order not to regret and be provoked by greed, use money management that is in accordance with risk tolerance limits and ideal profit targets.

Use Realistic Targets

The easiest way in successful trading tips to set profit projections is to measure the level of trading ability. If you are new let alone have not fully graduated from the level of learning forex trading, then don't expect to be able to get more than 50% profit in a short time. 

This is indeed not impossible, but such an acquisition cannot be relied on because it is only a beginner's luck. Setting a high profit is not recommended, because it can trigger overtrading. You can learn to be a pro trader by joining Didimax forex broker.

The main principle in day trading success tips is not much different from scalping; build large profits from the relatively small profits earned on each position. That’s the day trading strategy in forex that can help you to profit.