How to Win a Day Trading and Make a Regular Income
More traders try Forex day trading and scalping than any other method of trading and here we will look at how to win at Forex day trading and make a regular income with the best day trading systems.
Vendors will tell you that they have day trading and scalping systems which can trade for profit in hours or minutes and give you a stream of small regular profits, so you can pile up big gains but do they work?
No – none of them do and the reason is obvious.
In days gone by some traders could trade ahead of the pack, as they had the prices first but today we have a level playing field, with everyone able to get prices and news in a split second. The day trader, no longer has an advantage and the simple fact below proves it:
If you do a daily study of volatility and standard deviation of price, you will see all moves within a day are random. Because of this, you cannot key of daily levels of support and resistance and if you can’t do that, you can’t get the odds on your side and will lose.
If you ever see a vendor saying you can make money ask for this:
An independent track record supported by account statements and audited of gains over the long term and you won’t get one.
Traders can make money trading Forex but need to look longer term, where they can get the odds on their side and win. So forget day trading for a regular income as it’s doomed to failure and trade the big high odds trading scenarios that occur.
A glance at any Forex chart will show you, trends that last for many weeks and these are the ones that make the big profits. – so, get the odds on your side and trade the big moves, for big profits.