FOREX Day trading is more popular than ever as traders seek to make big consistent profits from scalping the market and building a regular income.
Here we will look at the common day trading mistakes people believe will make them money and why they lose.
Before we start consider this fact.
You will see numerous day trading systems with attractive copy telling you how much money you will make from online forex trading yet, the most important part is missing.
You NEVER get a real time track record of profits!
You get a hypothetical one ( but that is designed knowing the closing prices so is of no use ) but never a real time one the vendor has traded and made money out of.
Why?
Because these guys don't make money from FOREX day trading, they make money selling systems and their smart enough to know day trading by its very nature doesn't make money.
There are numerous mistakes that people mak
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e that make them think they can make money so here they are1. They believe hyped sales text and hypothetical track records
This proves nothing.
Anyone can do a track record knowing the closing prices even my daughter and she's ten.
If you believe sales copy and don't check the facts your asking for trouble.
2. You can predict support and resistance in short time frames
All volatility is random so support and resistance levels, pivot points etc are meaningless
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