Already on ArticleSlash?

Forgot your password? Sign Up

Forex Day Trading - Why You Are 100% Guaranteed to Lose

 


Visitors: 123

Forex day trading and success are a total contradiction in terms – day traders don’t make money. If you want to prove this, just ask anyone selling a day trading system for a real track record – you won’t get one. Why? Let’s take a look.

The Odds

If you want to trade and win you need to be able to take calculated risks when the odds are in your favour and you cannot do this in day trading, as you have no reliable data.

Consider this:

Countless millions of traders all with different opinions trade trillions of dollars per day and to say that you can measure market movement in just a few hours or a day is ridiculous – you can’t.

Prices can and do go anywhere in a day and support and resistance levels are meaningless.

You may as well flip a coin it will be just as effective.

FACT - If you dont have relaible data you will lose over time its 100% certain - PERIOD

BUT I SEE GREAT DAY TRADING RECORDS ALL THE TIME!

Yes you do, but look at the track record and it will say:

“Hypothetical” and you will get a disclaimer.

In case you have never read one - it basically says that the track record is done knowing the closing prices!

Well that’s hard!

Let’s see if I knew tomorrow’s price in advance would I make a lot of money – of course I would. However, you don’t have the luxury of knowing the closing price when you trade though and you will lose.

Claims with No Proof to Back Them Up

I have always maintained that these hypothetical track records should be banned - There of no use at all.

Vendors use them to dupe people into buying forex day trading systems and normally throw in some outrageous headlines as well that never have any facts to back them up.

The vendor wins You Lose

The vendor’s don’t trade these systems (as they know they have no chance of winning) so they sell them to you take your money and you trade and lose.

The Myth & Reality of Forex Day Trading

The myth of making money in forex day trading is perhaps the biggest myth in currency trading – it’s actually a guaranteed way to lose and if you don’t believe me try and find someone who has made money at it.

Get ready for a long search!

NEW! 5 X Critical Trader PDF's & Much More

Claim your FREE PDF's and demo account and learn Forex Trading and also get: Breaking financial news, tight pip spreads, guaranteed stops $100.00 minimum investment and 400:1 leverage at http://www.freeforexguidesonline.com

(517)

Article Source:


 
Rate this Article: 
 
Forex Trading - Why Trading Off News Stories Will Guarantee You Will Lose
Rated 4 / 5
based on 5 votes
ArticleSlash

Related Articles:

Forex Trading Strategy If Yours Doesnt Have This in it You Are Guaranteed to ..

by: Kelly Price (July 16, 2008) 
(Finance/Currency Trading)

Learn a Proven Forex Trading System So You Will Never Lose Money in Forex ..

by: Fred Jay (July 14, 2008) 
(Finance/Currency Trading)

Learning a Proven Forex Trading System So You Will Never Lose Money in Forex ..

by: Ivan Ong Shao Kuang (May 29, 2008) 
(Finance/Currency Trading)

Forex Trading Fact Anyone Can Learn Forex Trading But the Majority Lose Why?

by: Kelly Price (July 22, 2008) 
(Finance/Currency Trading)

Day Trading Systems Why You Are Guaranteed To Lose

by: Monica Hendrix (December 19, 2007) 
(Investing/Day Trading)

How to Earn Guaranteed Forex Profit - Electronic Trading Software

by: Max Branner (December 15, 2008) 
(Finance/Currency Trading)

Forex Trading – Why You Lose Money Trading Forex

by: Nathan Pennington (February 22, 2007) 
(Finance)

Forex Trading You Could Lose Money If You Dont Change Your Personality While ..

by: Dylan Jonathan (July 01, 2008) 
(Finance/Currency Trading)

Forex Trading Education - Trading Looks Easy But You Must Have This Key Trait ..

by: Kelly Price (June 29, 2008) 
(Finance/Currency Trading)

Forex Trading - Why Trading Off News Stories Will Guarantee You Will Lose

by: Monica Hendrix (July 02, 2007) 
(Finance/Currency Trading)