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Here we are going to look at the facts in relation to forex day trading that are essential to learn if you do not want to lose your money. Lets look at forex day trading in more detail and how to make money from it.
You will see more adverts for forex day trading systems than any other method of trading and the headlines are enticing: "scalp 100 pips a day, make a regular income, make 100k per annum" etc
FACT: All Daily Volatility Is Random
The problem is that Forex day trading simply doesn't work and the above headlines are simply advertising hype. These vendors making money selling systems to naive or greedy traders not trading their systems!
So why doesn't day trading work?
Well it's pretty obvious and common sense the time period is to short.
All volatility in daily time frames is random and support and resistance levels are meaningless
/>If you think about it there are millions of traders trading trillions of dollars each day and to say that you can predict what this diverse mass will do in a few hours is laughable.
If you don't believe that day trading doesn't work try this task