Forex day trading secrets for success are all over the internet as vendors sell systems but when buying them you need to be aware of this secret which will save you a lot of money and put you on the road to success...
Day trading simply doesn't work and you should try another short term method of trading that does.
So Why doesn't day trading work?
Simple - it's a proven fact that in today's world of instant communications, all short term volatility is of a random nature therefore, you can't use support and resistance in these short time frames as there not relevant, so the odds are against you and you will lose.
In days gone by, the floor trader had an advantage has he had the information first but with the rise of online trading this no longer applies.
The Proof!
Take any of the day trading systems online that claims to make profits, then, look at the small print on the track record and you will see the following words:
"Back test", "simulated" and "hypothetical" and this means in simple English - made up, with all the closing data known in advance and of course that's easy.
The vendors who sell these systems want you to trust a made up track record - but don't trade it themselves!
Doesn't inspire confidence does it?
Short Term Strategies for Profit
If you want to trade short term try swing trading.
This method takes advantage of overbought and oversold scenarios which last a few days to a week or so. In these periods you can get the odds on your side and you win because support and resistance is valid.
So if you want to win the secret of Forex day trading the vendors of systems don't tell you is - it doesn't work and focus on Forex swing trading, a short term strategy where you can get the odds on your side and can enjoy forex trading success.
Swing trading, is easy to understand and learn and you could soon be making big profits, in around 30 minutes a day or less.
By : Sonia Kristina
