Forex Day Trading: Avoid It

By Jason Myers

The most well known time frame to trade in in Forex is within a day and traders try to scalp small regular profits which build up into a big income over time. Let's study Forex day trading in more detail.

There are a big number of traders, all trading using varied techniques, varied systems and most influenced by their feelings and the challenge of day trading is - to work out what they will do in a matter of hours or even minutes - seems hard doesn't it?

It's never difficult it's impossible! In days gone by before the internet, the day trader could win and there were a select number of traders, who had price and news prior to everyone else and could scalp a fast earning but today this advantage has not been available. The internet offers everyone the equal price information and news at the same time and the amount of opportunity for scalpers has gone. A quick study of price instability, makes it evident why day traders do not win: All short term instability is random therefore, you cannot key off support and battle stages, which means you can't trade with the odds on your side and that means losses.

If you wish to succeed at Forex and still trade short term, try Forex swing dealing which trades overbought or oversold or if your closely controlled trader, get and hold the long term trends.

There are a lot of day trading systems out there on the internet, all claiming they make money but not one of them, gives a genuine audited track record of gains. All they have are back tested simulations or produce statements you're assumed to consider with no outside check. If you do discover an audited performance let me know, I have been looking for two decades and not found a single one!

Avoid day trading and Forex scalping at all costs or you will never win your money quickly. - 23196

About the Author:

Jason Myers is a professional writer and he writes mostly about forex daytrading news. He's also interested in forex trader guides.