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by kelly Price
Many novice forex traders want to learn forex day trading online and scalp small regular profits to build into big consistent profits over the long term this is article is all about forex scalping and day trading success...
If you are considering learning forex day trading online then think again it will lose you money! Why?
Because you cannot judge where prices will go in the short term and will lose all your money over time.
The Myth of Forex Scalping and Day Trading Profits
Of course there are plenty of forex mentors and gurus who try and sell you forex systems all with great track records and they all have a problem - they all carry this warning, read it:
"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".
If you have read the above you will see why these forex day trading strategies are unlikely to work for you.
- They haven't been traded and are just made up!
- Anyone can make money knowing the closing prices but that's not the real world
-You could ask yourself the question - why if the systems are so good why the sellers don't trade them, shut up, keep quite and not bother you for a few hundred bucks!
Well you know the answer these systems are designed to be sold and rely on traders not reading the warning to closely and falling for clever marketing copy.
Try and find one without the above disclaimer and your in for a long hard search I have never seen one with a proper real time track record supported by account statements and neither will you and if you do let me know!
Forex day trading looks good in theory - but is doomed in practice ask yourself this question:
You have a huge number of traders who all contribute to the price and who have different motivations, skills and methods of trading and you have to decide what this unpredictable mass is going top do in a few hours.
Its impossible to do so don't bother trying!
95% of forex day traders lose (100% in respect of day traders) and it's hard to make money but it's possible if you put the odds on your side and this means looking at longer term data where you can get the odds on your side.
If you want to win you must use valid data that can help you predict the odds - if you can't play the odds you can't win, it really is that simple.
Learn Forex Day Trading Online is a loser's game so don't even try it unless of course you want to lose all your money!
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