Forex Day Trading Profits - Who Makes Them and Could You?

By: Monica Hendrix
If you are considering forex day trading than this article is for you. On the net you will see more products and forex trading systems sold in day trading than for any form of trading and this article will give you the facts on forex day trading.

The most important fact is it doesn't work long term and you will get wiped out here's why:

Short Term Volatility is random

Millions of trader's trade trillions of dollars each day and to say you can tell what this huge diverse mass of people will do in a few hours or a day is ridiculous.

Humans are un-predictable in short time frames - PERIOD.

All Volatility is random

This is a by-product belief of the above and of course short term volatility is random.

If this is so, then all support and resistance levels are not valid in a daily time frame, as volatility takes prices anywhere in a day and you have no way of trading.

Tools that work in other time frames, simply don't work in intra day trading and never can - that's why a day trader can never get the odds in their favor and his luck will soon run out.



So why is it so popular?

Because it's a good story and internet marketers know this.

They sell ridiculous e-books claiming regular profits and untold riches, all for a few hundred dollars! If they worked, a lot more traders would make money and they don't.

It sounds low risk scalping small profits that build up over time but the reality is a thumping quick loss of equity for the trader.

But I have seen the track record you may say...

Sure you have but you never see a real one - there always hypothetical simulations done knowing the closing prices - how hard is that?

Anyone could do it even a kid could - but life in forex is not like that, you have to trade going forward and not knowing the closing prices and that makes things a little more difficult!

Its a good story and some of the advertising copy is fantastic but it's a story but good stories don't make money. My kids love Harry Potter but they don't think they can fly!

Forex day trading appeals to greedy and naive traders who are looking for a fast buck and in forex markets making money is not easy and nor would you expect it to be - with the rewards on offer.

THE GOOD NEWS IS...

There are far better ways to make money than forex day trading and these methods use longer time spans where you can get the odds in your favor.

Traders can and do make money in forex trading - but the day traders end up in the 95% of losers and if you don't want to do the same, avoid forex day trading.

Get proper sensible forex education and trade the longer term trends for profit.

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