Forex Day Trading: Avoid It

By Jason Myers

The very popular time frame to deal in in Forex is within a day and traders attempt to scalp little regular profits which build up into a huge income after some time. Let's look at Forex day trading in more detail.

There are millions and millions of traders, all dealing using different skills, different systems and most inclined by their feelings and the challenge of day trading is - to formulate what they will do in a period of hours or even minutes - sounds difficult doesn't it?

It's not difficult it's impossible! In days gone by before the internet, the day trader could succeed and there were an excellent few dealers, who had price and news prior to everyone else and could scalp a fast earning but today this benefit has not been available. The world wide web gives everyone the equal price data and reports at the same time and the window of opportunity for scalpers has gone. A quick research of price instability, makes it evident why day traders do not win: All short term instability is random so, you cannot key off support and resistance stages, which signifies that you can't trade with the odds on your side and that means losses.

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

There are many day trading structures out there online, all claiming they earn money but not any of them, produces a genuine audited track record of gains. All they have are back tested simulations or create statements you're assumed to believe with no outside check. If you do find an audited performance tell me, I have been looking for two decades and not discovered any one!

Keep away from day trading and Forex scalping at all costs or you will lose your investment immediately. - 23200

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.