Day Trading Systems - Why You Will NEVER Win Day Trading
Fact is day trading systems will lose you money as by their very nature they can't work here's why.
If you are ever considering buying a day trading system ask for the real time track record over the long term ( this means 2 years + ) don't accept a hypothetical track record!
Let's see we know the prices in hindsight can we make a profit?
Of course we can!
Anyone can win with a hypothetical track record, there worthless, so ask for the real time record and you won't get one here's why.
1. Short term moves are random
The currency markets trade trillions of dollars per day and short term moves within any daily period are random.
You could flip a coin or use a day trading system your odds of winning are the same.
Is random in short time frames and prices can simply go anywhere.
As most day trading systems bang on about keeping losses small, stops are normally taken out creating a loss.
Furthermore, your chances of losing are greater as the odds of being taken out are high.
3. Day trading systems never run profits
A day trading system keep your losses small (albeit you have massive odds of being stopped out) but they never seem to do the other essential of making money in FOREX and that's run profits.
Day trading systems normally have short term profit targets and are grateful for any profit they can get.
So what do you have?
Lots of small losses and no real profits to make up for them.
This means you get wiped out and normally wiped out quickly.
The Myth and The Reality
The myth is that day trading systems make money, the reality is day trading is one of the best ways to not only lose your equity, but lose it quickly.
People day trade because they are greedy or simply fools.
When I read a lot of the sales blurb of day trading systems its obvious these vendors have never traded, they make their money selling courses.
They make money from book sales not from trading, so they win you lose.
Saw one promising me 90% successful trades for a few hundred dollars.
Well if I had one of those, would be making millions and certainly wouldn't sell it I would be to busy enjoying my riches.
If you want to trade currency markets you can make money, but be realistic and sensible and make sure that you don't fall for the hype of day trading systems.
If you do get ready to lose your equity and lose it quickly.