to achieve big consistent profits from day trading regularly and
looking to accumulate small profits each day to build huge profits
overtime. Let's look at forex scalping in more detail.
Forex scalping is more popular than ever and there are numerous forex
trading systems and e-books, which claim it works but none of them
work, (we will return to this in a minute) as the logic behind forex
scalping is totally incorrect.
Why Forex Scalping Can NEVER work longer term
The reason it doesn't work and never can is simple to understand if
you think about it - you need valid data!
Consider this:
Each day trillions of dollars are traded by millions of forex traders
and the total of all these opinions come together and give us the
price.
The thought that you can tell what all these millions of people will
do, in just a few hours is laughable.
You can't!
Volatility can and does take prices anywhere in short time periods and
support and resistance levels are meaningless. If you have no valid
data, you will lose and that's EXACTLY what happens to people who try
forex scalping or day trading.
You may be saying:
I have seen the proof it works and seen track records presented by
forex scalpers and yes you have - but their NOT real!
See the standard CFTC disclaimer below and you will see why these
track records cannot be trusted:
"Hypothetical or simulated performance results have certain
limitations. Unlike an actual performance record, simulated results do
not represent actual trading. Also, since the trades have not been
executed, the results may have under-or-over compensated for the
impact, if any, of certain market factors, such as lack of liquidity.
Simulated trading programs in general are also subject to the fact
that they are designed with the benefit of hindsight. No
representation is being made that any account will or is likely to
achieve profit or losses similar to those show".
So you simulate a track record, knowing the closing prices - how hard
is that?
Anyone can do that even a child.
The problem of course is:
We don't have the luxury of knowing the prices when we trade (shame
but that's life!) so doing it in the real world is a lot harder and
for people forex scalping it's impossible.
That's why you never see a real track record but a hypothetical one
which is simply not worth the paper it's written on and in most cases
is simply made up by the vendors.
Where Are The Real Track Records?
Don't be fooled advertising copy with statements such as:
"Pick tops and bottoms scientific accuracy" make "50 pips a day" or
"trade with 80% accuracy" - this is just ad copy and has no back up.
If you don't believe me ask for a forex scalping real time track
record and you won't get one - try it and see.
Forex scalping and day trading is a good story, but that's all it is
and try it and you will lose - as you can never get the odds in your
favor.
Keep in Mind
Forex trading is a great way to make money but its not easy and a lot
of the people who sell the courses and e-books on forex scalping try
and make it appear so.
Traders who believe the above need to get in the real world.
How to Win
To win, you need to do your homework and get a forex trading system
that gets the odds on your side. This means avoiding forex scalping
and day trading and trading data that covers longer time frames that's
valid and allows you to get the odds in your favor.
The Next Generation of Forex Robot: http://www.theacyclone.tk/
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