Day Trading - The Best Way To Make Huge Profits
So how can you make profits day trading and make big long term capital gains? Lets take a look.
There isnt a way and you will lose!
Read this article and you will understand not only why you wont win but why you will lose quickly.
You will read headlines all the time saying you can make money day trading forex but you cant try this as an experiment.
Wheres the track record?
You will see numerous articles and e-books telling you how to make money but ask for the track record to prove it and you wont get one.
Why?
Because day trading by its very nature cannot work and people selling day trading systems make money from system and book sales and have the sense not to trade themselves.
They know some mug will buy their system or e-book and make them money.
Lets check out the facts and see why you will never win:
Currencies trend longer term
Currencies trend longer term as they reflect the underlying health of the economy and movements within a day are random.
You cant calculate what will happen in a day the period is to short Period.
Now lets move on to another problem.
You need to cut your losses and run your profits.
Day trading systems dont do this, yet it is a fundamental rule of investing.
You are always going to have a lot of losing trades, so you need profits to cover your inevitable losses and give you overall profits.
I know many traders that lose on 70 80% of their trades, yet make big profits simply because they run their winners for all there worth.
Why do people buy day trading systems then?
Well, normally the copy is enticing:
90% profits, low risk, make 50 pips a day guaranteed etc.
People simply respond to greed and think its easy to buy success from someone else.
However, if you could make 90% on every trade would you sell an e-book or day trading system?
Of course, you wouldnt!
You would be to busy making money and keep quite.
How to make profits
Look longer term and forget day trading.
Its the longer term trends that make the big profits in forex trading so focus on them.
Leave the day trading to traders who want to lose their money, or are to greedy or ignorant to see the folly of their venture.
MORE FREE BETTER TRADING INFO
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