Forex day trading simply doesn't work and you will never find a trader with a track record of real time profits, however more novice traders try this method than any other type of trading. This is desite the fact it will never work, because you can't get the odds in your favor.
If you are considering day trading then you should read this article.
First let's look at why forex day trading doesn't work.
The time period is to short!
Volatility in short time frames is random - PERIOD
This means daily support and resistance levels are meaningless and you can never get the odds on your side longer term.
Now let's look at the illusion of profits.
The Marketing Illusion
You have seen them the headlines promising you 100% annual profits or a regular monthly income - all for just a few hundred dollars.
Of course the reality is they profits do not exist and it's simply clever marketing copy.
Look at the facts and you will see no substantiation whatsoever to back up the claims.
You will of course get a hypothetical track record, done in hindsight but the key word to consider here is hindsight! The person presenting the track record knows the closing prices when they do the track record.
If I knew tomorrow's closing price today, I would be a multi millionaire but that's not the reality of forex trading.
The people who create the illusion you can make money forex day trading can never present a long term track record of real profits - that's real dollars made in the market by them.
Why Create The Illusion?
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