Day Trading Success All Facts You Need To Know

Before you attempt to day trade or buy a day trading system, there are 3 facts that you need to know, as they are critical for your day trading success so let s look at them.


1. The Logic Of Day Trading Is Flawed


The logic of day trading is flawed and doesn t work.

Sure you see lots of people claim to make money at forex day trading but they don t and you will never find a real time track record of gains - we will come back to this point in a moment, for now lets look at why day trading cannot work.

The answer is simple:

FACT:

All short term volatility is random and prices can and do go anywhere in a day, so if this is true it s impossible to win.

Of course its common sense, there is no order to the markets in a just a few hours.

Think about it:

Millions of traders trade trillions of dollars and to say that you tell what this mass of people is going to do in a few hours is laughable.

You can never win longer term day trading so let s look at all those wonderful track records, that tell you to give up the day job and trade for a living..

2. Where is The Track Record?

You will see people present track records in day trading and they all have hypothetical or simulated written on them which means yep you guessed it there done in hindsight knowing the closing prices How hard is that?

A child could do it and these track records are not worth the paper their written on.

You never see a real one!

The vendor knows it doesn t work so he is not going to risk his money trading he can sell the system to you, make a guaranteed profit and you take the loss in the market. The above is what happens as these vendors trick traders with simulated track records and clever marketing copy.

Scams on the net

The internet has bought lots of great information to forex traders - but also a lot of scams and cons and the biggest con of all is anyone who tells you day trading works it doesn t.

Try and find a track record if you dont believe me - you wont find a real one if you do tell me about it, I have been searching for 20 years.

Finally...

If you want to make money forex trading, you need to trade in time frames that mean you can get the odds on your side and this means trading longer term - leave day trading to investors who are naive, lazy or just dreamers. If you want to win - get the odds on your side and do your homework and avoid forex myths such as day trading.
Learn Forex Trading
Learn Forex Trading

Almost all internet marketers have heard of forex trading or online currency trading as it is sometimes referred to and many are curious about how the forex trading system works and where they can go to learn forex trading.
In order to become a successful forex trader you need to know what forex trading is and how to successfully trade forex. In order to achieve sufficient knowledge it is vital to learn forex trading from experts. This can be done in the form of a forex tutorial and there are literally hundreds of forex companies offering online tutorials and guides.
An online forex tutorial will explain how the foreign exchange market works and will also explain the types of forex orders that are available to you as a forex trader. A forex tutorial will also explain about technical indicators and what they mean, the economic indicators you will need to be aware of and the various options and strategies that are available to you as a forex trader.
If you are new to forex trading then it is essential that you learn forex trading before parting with any of your hard earned cash. Many online forex companies offer free training and demonstrations that resemble that of real time forex trading. There are also forex trading courses available and these are also a valuable way to learn forex trading as you can refer to these course time and time again.
The most important aspect when it comes to forex trading is to learn forex trading so that you understand how to trade and how to trade successfully. The more you learn forex trading the more understanding you will have and the more success. Finding a forex tutorial or forex trading course is simple. All you need to do is a brief internet search and you will have a great deal of tutorials and courses to choose from. If you are serious about succeeding as a forex trader, then it s down to you, learn forex trading now and learn to succeed.
The Importance Of A Solid Forex Trading System
The Importance Of A Solid Forex Trading System

Said to be one of the largest exchange markets, the Forex market is gaining immense popularity. The possibility of earning large profits adds to the appeal. Although trading in this market is not easy, it can be, provided you find a proven and profitable Forex trading system.


Even a planned investment can often take a wrong turn. The investor has a bad day even after planning his actions. Nevertheless, this is of little concern to the Forex trader. Every trader in the Forex market knows that to keep the losses to a minimum the trader will have to follow their forex trading strategy and use proper money management. In this way, he will learn to survive the volatile investment market and make profitable trades in the long term.

The Forex market allows traders to conduct their transactions in a rather emotionless manner. This is because the pre-determined guidelines that form a forex trading system can make it easier for traders. Executing actions is now easy as there are fixed price levels of initial stop loss and trailing loss. Apart from this, there already exists a computed price profit, which is projected in the trader’s interests. This computation allows the trader to know what his level of loss or profit is and even the risk to reward ratio before he even begins to trade for the day.

Using the proper forex trading system, the trader plans his trade and makes a profit with the right moves. But on the other hand, if the trader makes a wrong move and is more likely to make a loss than a profit, the Forex trading system will show the trader that he is making a wrong move. In this way the trader is able to move out of the situation quickly and the huge losses he would have otherwise incurred is no more a worry. Trading in this way protect the trader from large losses and helps lock in higher profits for winning trades.

There are many types of forex traders from position traders to swing traders to day traders. Forex traders who buy and sell their currencies or open and close their markets on the very same day are considered day traders. There are many traders who believe that the day trading system is not worthwhile and do not give it much importance, but with the right forex trading strategy, day trading can be very profitable. When researching a forex trading strategy, what you need to do is review it by finding out the reactions of other Forex traders. You can ask any existing Forex traders about their trading experience and how they like their trading system and if they consider it to be a profitable one. Trading forums are another way of receiving reviews about Forex trading systems. As there are a number of forums, you will have no difficulty in getting the information you require. However, many professionals feel that day trading is quite profitable though it is not the easiest way to trade. If this wasn’t a profitable method of investing then how does one explain the large number of day traders who earn their income solely from this source? Therefore, if you wish to be part of any system that relates to day trading then it is necessary that you have sufficient knowledge about many Forex trading systems and strategies.


Many sites let you in on the Do’s and Don’ts of Forex trading. There are no secrets but there are things you do need to be aware of. These sites provide you information on Forex trading strategies, forex trading techniques and all other information that you may be in need of. You can also find a number of helpful forex trading tools, information and techniques are made available to make Forex trading easier for the trader.
Forex Trading - Blackjack And Poker Players Make Great Forex Traders Why?
Forex Trading - Blackjack And Poker Players Make Great Forex Traders Why?

There are numerous poker and blackjack players who have made the transition from professional card playing to forex trading and made millions. Why are they so successful? Because the skills needed are very similar.


There is an old gamblers saying:


"There's a time to hold them a time to fold them and there's a time to get out of town fast"

If you think about this saying, it's the perfect introduction to succeeding in card playing and forex trading.

Forget the gurus and the mentors (most who have never traded in their lives) who tell you that you can predict forex prices in advance or that they move to a scientific theory - they don't.

Just like card playing forex is a game of odds not certainties - but just like the professional card player, you can play the odds and win.

"A time to hold them"

By studying the cards that come out of the deck the successful card player knows the odds of the cards coming next, he's not certain but by counting the cards he knows the probability and this is true with forex.

In card playing you hold and play in forex trading when the odds are in your favour you execute you're trading signal.

"A time to fold them"

If a card player has junk hands, he folds and passes the hand by.

Compare this to forex traders - many of them want to trade low odds scenario's because they think they will miss a move if their not in the market, while others trade when the odds are never in their favour i.e. day traders and they lose.

The card player knows his winnings are not based upon how many hands he plays - but how good the hands are and how he bets only then and it's the same in forex trading.

In forex trading you get paid for being right not how often you trade.

When you feel you have a high odds hand - bet and bet big.

You will see poker players back high odds hands with a cool head and large amounts of cash and you must do the same.

Forget about the myth of betting small 2% per trade which is a common accepted figure - this is ridiculous!

On 2% on a $10,000 account that's risking just $200.00!

You won't win much doing that- bet 10 - 20% if you have the odds on your side and have the courage of your conviction.

"A time to get out of town fast"

This applied to the old west and when your life was in danger - get out quickly!

In forex trading to preserve your equity you need to cut and run.

I heard a trader once say that if you want to win:

"You need to bet but you can't, if you're not at the table"

To stay at the table or trading, you have to preserve your equity.

That means rigid stops preferably placed before you enter the trade - no hoping a trade will turn around - if you life or position are in danger get out!

DISCIPLINE

All card players have this and you must to, as a forex trader.

Even the greatest card players have to lose hands to win longer term.

However if they can stay at the table and keep betting and play the odds, they can bet big on the high odds hands and win.

Of course you can do this to as a forex trader.

If you want to read an excellent interview with blackjack player come multi millionaire trader Blair Hull which expands on the above points get the excellent book "Market Wizards" By Jack Schwager which interviews Blair and a whole host of top traders - its essential reading for all forex traders.

Finally! Remember:


Play the odds with discipline in forex trading and you can enjoy currency trading success.
Forex Software - Choosing the Best
Forex Software - Choosing the Best

When it comes to forex trading the forex software you choose is essential. There are so many forex trading companies all competing for your business that choosing the right forex software can be quite a difficult task. Most of the forex software products available offers live online forex trading platforms but what other components are vital when it comes to your forex software.

Key Elements For Your Forex Software

Before purchasing any forex software there are a few essential items that should be included. The most important is security and your online forex trading software should include a 128 bit SSL encryption which will prevent hackers from accessing any of your personal details and information such as your account balance, transaction history, etc.

Providing the best security for your forex trading will include a company that provides 24 hour technical server support for your forex software, 24 hour maintenance should anything go wrong, daily backups of all information, and a security system that has been designed to prevent any unauthorized access. Along with these security protocols there are also some forex trading companies that use smart cards and fingerprint scanners to ensure that only their employees can have access to their servers.

Another important factor when it comes to choosing your forex software is to check what the company s downtime is like. When it comes to trading forex and particularly your online forex trading you need to ensure that the forex software you choose is reliable and available 24 hours a day. The forex software you choose for your forex trading should also have technical support available at all times should your session be cut short.

Ensuring that all the above features are listed in the forex software you choose will help to ensure your forex trading success.
Currency Trading
Currency Trading
by Soli Katir

Currency trading is also called foreign exchange, Forex, or FX trading. Beginners' education in Forex trading is ideal training for those who are new in Forex and currency trading. It is a must that the Forex broker that you choose is registered with the Commodity Futures Trading Commission.

This great feature in Forex trading is what makes this market the hottest market to trade in right now. Technical indicators are good and will greatly improve your profitability, but there other ways to approach the world of Forex trading that can be more simple but not without great profitable results, and this despite the use of fewer indicators. You, however, will not risk a dime until you have learned the skills you need to make money trading the Forex.

Learn how to develop your own successful Forex Trading style with our Elite Forex Trading Course or Forex Seminar. You really should familiarize yourself with any Forex trading software as soon as possible. Successful Forex Trading is one area where knowledge of your different traits can be advantageous.

You're able to trade multiple Forex systems and strategies. The element of fundamental and technical analysis is no longer required in this advanced way of trading and it has brought Forex trading to a whole new level. The return of FOREX trading can be very lucrative but the risk lie beneath is equally great.

FOREX trading can gain investors a large amount of money either over a long period of time, or in a short period of time. Learn how to start making money trading the Forex market within 30 days. The Forex market opens on Sunday afternoon and remains open until it closes on Friday afternoon.