Most novice traders choose to try short term trading and scalp regular profits to make a great long term income and its a common way for Forex robots and Expert Advisors to be programmed as well - let's take a look at how to succeed at Forex day trading.
In the days before the internet, floor traders made huge gains because they had the price in advance of the bulk of traders and used this time window to get their trades in first, today its a level playing field and all traders can get up to date prices at the click of a mouse - so can you still make money at Forex day trading?
The answer is no and if want to know why simply look at daily volatility - its random, you cannot key off support and resistance levels and if you can't do that, you can't get the odds in your favor and you will lose.
You will see a lot of vendors selling day trading systems and software and they say they make money but never produce a real time verified track records of gains, just simulations going back over closing prices but anyone can make money knowing this key data!
Day trading appeals to novice traders, because they see it as low risk but in reality, its the most high risk way of trading you can do, because your destined to lose sooner or later.
If you want to make money at Forex trading, you need to get the odds on your side and that means trading longer time frames, so swing trade overbought and oversold levels or follow the big long term trends and leave day trading alone, becuase you will simply make a lot of effort and get a wipe out of equity for your work!. More at articlesbase.com
In the days before the internet, floor traders made huge gains because they had the price in advance of the bulk of traders and used this time window to get their trades in first, today its a level playing field and all traders can get up to date prices at the click of a mouse - so can you still make money at Forex day trading?
The answer is no and if want to know why simply look at daily volatility - its random, you cannot key off support and resistance levels and if you can't do that, you can't get the odds in your favor and you will lose.
You will see a lot of vendors selling day trading systems and software and they say they make money but never produce a real time verified track records of gains, just simulations going back over closing prices but anyone can make money knowing this key data!
Day trading appeals to novice traders, because they see it as low risk but in reality, its the most high risk way of trading you can do, because your destined to lose sooner or later.
If you want to make money at Forex trading, you need to get the odds on your side and that means trading longer time frames, so swing trade overbought and oversold levels or follow the big long term trends and leave day trading alone, becuase you will simply make a lot of effort and get a wipe out of equity for your work!. More at articlesbase.com
