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| Forex Day Trading Profits - Who Makes Them and Could You? | | Published by: mike 2008-10-24 |
| | Forex trading - Discover what makes trading on the FOREX market so ::
This is how I typically start my day Trading Foreign Currencies and I 6) Finally, trading FOREX allows you keep more profits in your pocket.
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f you are considering forex day trading than this article is for you. On the net you will see more products and forex trading systems sold in day trading than for any form of trading and this article will give you the facts on forex day trading.
Currency Trading Monster::
Momentum Trading: A Practical Day Trading Strategy to Get Profits from Hot Stocks Forex made easy is as simple as you would want it to be.
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Forex Blog by Lloyd::
What makes you passionate about forex trading? "Being around other people who are passionate about the same thing would make you even more passionate about
http://www.scoutforex.com/HOME |
The most important fact is it doesnt work long term and you will get wiped out heres why:
Forex trading in Nigeria: Your link to fabulous wealth?::
some of them talked about how lucrative Forex could be and could only advertise . We will trade your account for you and guarantee a 100% profit weekly.
http://www.davidajao.com/blog/2007/09/18/forex-trading-in-nigeria-your-link-to-fabulous-wealth/HOME |
MajesticForexSystem - Daytrading Forex With Success!::
Forex trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in
http://majesticforexsystem.com/disclaimer.htmlHOME |
Short Term Volatility is random
Millions of traders trade trillions of dollars each day and to say you can tell what this huge diverse mass of people will do in a few hours or a day is ridiculous.
Humans are un-predictable in short time frames - PERIOD.
All Volatility is random
This is a by-product belief of the above and of course short term volatility is random.
If this is so, then all support and resistance levels are not valid in a daily time frame, as volatility takes prices anywhere in a day and you have no way of trading.
Tools that work in other time frames, simply dont work in intra day trading and never can - thats why a day trader can never get the odds in their favor and his luck will soon run out.
So why is it so popular?
Because its a good story and internet marketers know this.
They sell ridiculous e-books claiming regular profits and untold riches, all for a few hundred dollars! If they worked, a lot more traders would make money and they dont.
It sounds low risk scalping small profits that build up over time but the reality is a thumping quick loss of equity for the trader.
But I have seen the track record you may say...
Sure you have but you never see a real one - there always hypothetical simulations done knowing the closing prices - how hard is that?
Anyone could do it even a kid could - but life in forex is not like that, you have to trade going forward and not knowing the closing prices and that makes things a little more difficult!
Its a good story and some of the advertising copy is fantastic but its a story but good stories dont make money. My kids love Harry Potter but they dont think they can fly!
Forex day trading appeals to greedy and naive traders who are looking for a fast buck and in forex markets making money is not easy and nor would you expect it to be - with the rewards on offer.
THE GOOD NEWS IS...
There are far better ways to make money than forex day trading and these methods use longer time spans where you can get the odds in your favor.
Traders can and do make money in forex trading - but the day traders end up in the 95% of losers and if you dont want to do the same, avoid forex day trading.
Get proper sensible forex education and trade the longer term trends for profit.
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