Day Trader

Definition - What does Day Trader mean?

A day trader is a currency investor who opens and closes all positions within the same trading session. Day traders seek to profit from the short term trends and fluctuations that develop intraday (within the day) rather than the longer term fundamental trends.

ForexDictionary explains Day Trader

Because the daily fluctuations of the forex market occur so quickly, day traders often depend on trading software to identify specific chart formations and trends within a currency pair’s chart. Once the software has flagged a formation, the day trader can decide how much to place in a position, where the exit and stop loss points will be and how long to keep the position open if it doesn’t hit the stop loss or exit point.

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