With the rise of online trading we have seen a remarkable rise in how many day trading sites offering a number of day trading systems, e-books and courses to help you scalp the market and make small regular profits that can build wealth, let’s look at choosing the best.
One of many big myths of trading is that you may make money day trading – in the event that you ever see per day trading site that’s a track record of gains, search for the disclaimer below or perhaps a similar one. Read it carefully:
“CFTC RULE 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike a genuine performance record, simulated results don’t represent actual trading. Also, considering that the trades haven’t been executed, the outcomes could have under-or-over compensated for the impact, if any, of certain market factors, such as for example not enough liquidity. Simulated trading programs in general are also at the mercy of the fact they are designed with the advantage of hindsight. No representation will be made that any account will or is likely to achieve profit or losses much like those shown “.
So this implies you may make up any track record you want, as you are simply simulating it and know the closing prices – try and find per day trader with a realtime track record audited on the long term ( 2 years plus ) and your in for a lengthy search.
Day trading and long term profits certainly are a contradiction in terms – why?
The straightforward reason is – you can never have the odds in your favor and are guaranteed to lose. All short-term volatility is random, support and resistance levels in these time frames are meaningless and you just can’t set levels which are valid to key off and have the odds in your favor buy rocket league items. Obviously that is obvious. We’ve a huge mass of traders an incredible number of them, trading all with different systems and personalities and to express you can measure what they’ll do in a few hours is laughable and totally incorrect.
Many traders say that human nature is constant and therefore prices go on to a scientific theory. You will often find them use such theories as – Gann, Elliot and Fibonacci but they don’t work.
Because human nature is constant but we certainly don’t conform to a scientific theory when trading! We’re creatures of emotion and you can’t measure these scientifically. If there have been a scientific theory that worked, we’d all know the cost in advance and there will be no market.
Most day trading sites aren’t run by traders at all there run by marketing organizations that sell simulated track records with hyped copy, to appeal to naïve or greedy traders – they make their income from selling product and the trader takes the losses in the market. If you intend to generate income avoid day trading sites and day trading it is actually that simple instead, turn to trade long term trends where you can have the odds in your favor.Read More