If I am day trading the stock and futures market, why would I want to move into day trading the forex as another additional trading avenue? Are there any special features of day trading the forex market that appear more appealing to stock traders to attract them to trade the forex as well?

In the pursuit of prosperity, we are always looking for ways to create personal wealth, and day trading forex offers much more opportunities to create wealth than say trading stocks and shares and commodities. Why is this so?

Forex Markets open 24/7

The stock markets and the commodity markets have set times that they are open for trading. In contrast, the forex markets are open 24hours a day, seven days in the week, giving much more trading opportunities to the day trader to trade. At the same time, convenience is a key factor, as anyone can trade at any convenient time with a web based trading platform provided free by his forex broker.

Higher Liquidity

The day trader is always conscious of liquidity. It is liquidity that allows a day trader to move smoothly into a day trade instantaneously at the best identified price without lag which will lead to a poor executed price. When he wants to buy, the day forex trader is able to get into that trade almost instantaneously due to the higher liquidity in the forex market and when a day trader wants to sell, he can get out of the currency at his price without delay. Where the difference in a fraction of a cent is important, this characteristic of very high liquidity makes forex trading very attractive. More so, it has been proven that there are trading systems that allow day traders to trade for only an hour or two, freeing them to do whatever they like for the rest of the day after pocketing profits. These are day traders who professionally trade for a living.

Lower Trading Costs

Forex trading seems like a dream to many day traders because there are no exchange fees, no commissions paid to brokers, and low transaction fees. In contrast, the day traders in stocks and shares and futures market all incur fees and commissions paid to licensed dealers and brokers, all of which will result in less profits.

Ability To Earn From Referrals

The active day trader can enter into arrangements with some forex brokers to earn a referral commission from the trades of people he introduces to the forex broker. Now while this is another separate activity, it cannot be denied that this is an added advantage for a day trader to earn something extra from his efforts in introducing or recommending friends to trade as well.

All these features make day trading the forex an attractive and possible replacement income source for those who work from home trading for a living.

Be sure to read Part #2 of this article which reveals the powerful tips on how you can still make money trading forex even though you are undercapitalised and lack skills. Click Here To Read Mini Forex Trading Part #2; or visit my blog http://1forex-trading.blogspot.com

Perhaps the biggest myth of FOREX Trading is you can make money with day trading systems.

Day trading systems make money only for the people selling them and the investors who use them, simply lose their money and lose it quickly.

If you want to know why read on.

The Logic

Day trading logic is based around the fact that you can make money by predicting where prices will go in a day, or even a few hours.

The reality is:

All short term volatility is random, which is of course common sense to everyone but day traders.

Think about it:

You have trillions of dollars traded each day, by millions of participants all with different investment objectives.

The major groups can be summarized as follows:

Central Banks – Trading at key levels to push currencies up or down.

Large speculators – Looking to make money for themselves or for their clients.

Hedgers – Interested in offsetting risk.

Small speculators – Everyone else, who does not fall into the above groups.

How many of these pay attention to daily levels or ranges?

A tiny minority of losing day traders.

As volatility is random in short time frames and prices can and do go anywhere, using daily support, resistance or pivot points is a futile exercise.

So why do people buy these day trading systems?

Basically, because they have good sales copy and appeal to the greed of investors.

The only people who win are the vendors selling the system and they are of course not stupid enough to trade it themselves.

Don’t believe me?

Then ask for a track record of profits made over the longer term by vendors trading the system and you won’t get one.

What you will get is:

Maybe, some testimonials from friends or people who have had a lucky trade, or the favourite of day traders:

The Hypothetical track record.

This of course shows great profits, but there is a major problem:

A simulated hypothetical track record is done knowing the closing prices and is constructed in hindsight.

Let’s see, if I knew tomorrow’s closing price today could I make a profit?

Umm hard question, think I might be a multi millionaire!

The myth that day trading systems make money is one that novice traders fall for all the time – don’t make the same mistake.

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Day trading is an integral part of the stock market. These traders are always looking to make some quick easy money, and they buy and sell stocks and options for a quick profit, they generally hold their position for short terms, usually less than a day, hence the name Day Trading. The trader buys shares not with an investment purpose but with a quick profit in mind.

The day traders keep buying and selling throughout the day with the intention of a short term profit. The value stock keeps fluctuating second to second throughout the day and as it does, the fortunes of the traders also fluctuate. It is high risk trading and not for the faint of heart.

Many day traders operate with borrowed money, they obtain money at high interest with the hope that their profits will cover the cost of the loan. This is a risky way to try and make a living, resulting in tremendous pressure to succeed. A person operating under this type of pressure seldom makes good decisions, resulting in terrible losses. Which in turn feeds the cycle, borrow more money, higher pressure to win, poor decisions.

Day trading is neither illegal nor is it unethical. But it is risky. You need to keep certain factors in mind before deciding to try your hand at day trading. An investor must be mentally prepared to suffer huge risks and he must be financially capable of making good his losses should the need arise. The trader should only invest only what they can afford to lose. They should not take the house payment and stick it into the stock market.

It has been said, if you can’t drive down the road with your car windows rolled down and hundred dollar bills flying out the window and not get upset, then you shouldn’t try day trading. Keep in mind, for most traders, day trading is not about investing, it is more like gambling, and is just as addictive. No one can predict how the stock market will react on a day to day basis, so a successful day trader must know how to lock in profits and cut his losses as soon as they can. Typically, this means not carrying their position overnight in
the hope that the next day will bring better prices.

Day trading is not meant for the weak hearted, because it can be extremely stressful. It can take up your entire day with monitoring the stock prices. Just don’t buy into the hype about easy money, and don’t blindly follow any hot tips or leads. You need to do your research before you buy.

John Marston is a self taught trader who has traded online for over 15 years from his home in California. Here is the exclusive Forex Market Trading System that John uses; you can also go to his website at http://www.Trade-The-Stockmarket.com which has a wealth of information about various trading strategies. You can also read his Blog which describes some of his personal trading strategies.

Just a few years ago, forex trading was reserved for professional traders, financial institutions and the banking industry. The United States government passed a law some seven years ago, and the forex market is now open to small investors as well. With todays technology, average people with personal computers and internet connections, trading forex online has become a booming online business. A small investor can now sit in the comfort of his or her home and trade forex at any time.

Forex currency day trading is a technical term used to describe a trade, buying or selling, that is completed within the same day. The implication is that all trading activity, is done within the span of a calendar day and no stock of forex is retained over night. Earlier a preserve of the wealthy and influential, day trading is now open to the average investor as well. The most well kept secret of the business, forex day trading endows the forex trader with a great deal of buying capability. As long as the trades are completed in a single calendar day, the forex traders have access to investments about 200 times the amount that they actually own. For example, a trader can use $50 of their own to handle an investment of around $10,000 and $100 to make an investment of $20,000.

There are individuals whose sole profession and expertise is in day trading forex currency. These professionals are mainly of two types – day traders who work for themselves and day traders who are employed with large financial institutions. Most of todays professional forex day traders work for financial institutions, such as banks, that provide a high level of job security and the ability to access a huge amount of financial resources and knowledge. Large financial institutions expend a lot of resources to make sure that day traders have everything they need to make a successful trade, implying just how lucrative this market can be.

Professional forex day traders who operate independently manage their clients portfolios, as well as their own by trying to assure they have access to the most accurate information and the best connections in the market. A large sum is required for backing up the deals that are made, cutting edge software for research and analytics, and connection to a dealer are the basic requirements for the business of day trading at the pro level. Most small investors in this market, including small time day traders, do not have the financial capability for these types of resources and cannot directly compete with the pros. However, the potential for success still exists in day trading.

There are many online and offline sources of information on forex day trading and the best forex trading strategies to use in this type of trade. Tools such as forex trading software simulation and education are widely accessible online and allow anyone to learn this business the right way. One simply needs to spend some time learning the ropes of day trading, since this is how any successful forex trader really operates. Once people gain some experience, they set up small home businesses of their own to supplement their income and enable them to make larger trades with their client’s investment amounts.

Andrew Daigle is the owner, creator and author of many successful websites including ForexBoost, a free forex trading resource and CashCurve, a resource for online business opportunities.

Day traders look to use hourly charts within the day so they can trade with limited risk and get out with a profit.

When doing this they use a variety of technical indicators such as pivot points to help them.

Let’s see how intra day charts can be used to help make profits in forex day trading.

The answer is you cannot make profits consistently trading using intra day charts!

This is obvious to most people except day traders.

The Proof

The reason is obvious, but many novice traders fall for the hyped sales copy of vendors selling these forex day trading systems.

However, if you ask them for their real time track record you won’t get one.

Of course, you will get a hypothetical track record done in hindsight.

These show wonderful profits, but as the track record has been constructed in hindsight knowing the closing prices it’s not exactly hard to make money!

If I knew tomorrow’s closing price today I would be a multi millionaire but of course forex trading is not like that.

The reason why intra day charts are useless and day trading logic is flawed:

1. Consider this everyday trillions of dollars are traded by countless millions of traders all with different investment objectives and styles.
To think that this mass can be predicted in the time period of a few hours is laughable.

2. Most of these traders pay no attention to day or intra day levels the only people who do are day traders and their a tiny losing majority.
As these levels are not considered important, volatility can and does take prices anywhere.

3. It’s a fact that volatility within in any day is random.
It doesn’t matter what indicators you use, day traders are working with meaningless data.

4. Day traders who use intra day charts think that they can restrict risk, but of course they actually create it.
Their stop levels get triggered the majority of the time, as volatility stops them out.

When their lucky enough to get a winner, they don’t run the position and are grateful to get out with any profit they can.

So not only do day traders use meaningless data, they also break the fundamental rule of investing:

Cut your losses and run your profits to cover them.

Day traders to be fair do keep losses small ( and they have a lot of them ) but of course they can’t run profits to cover them.

What is the end result?

A wipe out of account equity.

If you want to lose your money quickly, their really is no better way then trading with intra day charts.

So why do so many people fall for day trading systems?

They tend to be greedy investors who think forex trading is easy, or novice traders who don’t know any better.

Day trading systems are sold by vendors who rely on attractive sales copy.

They tend to fall into two groups failed brokers or marketing people who have never traded.

Of course their not stupid enough to trade the systems they sell themselves – That’s why you never get a real time track record

They simply make money from selling the system and leave buyers to lose money.

They win, day traders lose, it really is that simple.

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There are many Forex day trading training tips that will help Forex day traders of any level secure more winning trades and more Forex profits. This article will discuss some Forex day trading training tips that the professional Forex traders use to generate more Forex winning trades than losses. Keep reading to get access to a $100,000.00 simulated trading account.

Forex Day Trading Training Tip 1: Don’t second guess your indicators. You must believe in them and what they are telling you at all times. Be brave enough to listen to them and analyze the clues that they are giving you.

Forex Day Trading Training Tip 2: Don’t listen to anyone else about Forex day trading unless they are proven to be successful Forex day traders. The bottom line is it’s your money, not anyone else’s. You have no obligation to listen to anyone else.

Forex Day Trading Training Tip 3: Stay positive at all times and focus on your Forex day trading success whenever you trade. Understand right now that you will make mistakes, I guarantee it. Everyone has and everyone will and anyone who tells you they’ve never made a mistake is lying! The important thing is always to accept you’ve made a mistake, analyze it and immediately move on from it and learn from it.

Forex Day Trading Training Tip 4: Remember at all times that generally speaking, currencies always trade well. Always look for clues, for VERY convincing evidence that price has made up its mind and follow its lead.

Forex Day Trading Training Tip 5: As the saying goes, practice makes perfect and nowhere is that more obvious than on the Forex trading platform. Practice, practice, practice, and continue your Forex trading education constantly forever. You can never know too much.

Forex Day Trading Training Tip 6: Never ever take trades in between pivot points. That area is dead man’s land and MUST be avoided at all costs. There’s no need to ever go there. There are enough clues and signals to avoid the area indefinitely.

Forex Day Trading Training Tip 7: Don’t be scared away from the Forex market because you think it’s too risky. The Forex market is the most financial liquid market in the world - how does $1.5 TRILLION every day in the US sound?

Forex Day Trading Training Tip 8: Always keep a look out for combinations of patterns as well as obvious price patterns.

Forex Day Trading Training Tip 9: You must always follow the price’s lead as it always determines which set of pivot points it will work with.

Forex Day Trading Training Tip 10: You don’t have to be greedy. If you want to exit with some profits then do so.

I have discussed some essentials and fundamentals of Forex day trading training. The fact is that only 10 percent of Forex traders are generally consistently successful. To learn how to start your Forex trading career in the select 10 percent and remain there I strongly suggest you visit the website below.

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Foreign currency trading is the most profitable and powerful way to make money today in the world.

It is a 2.5 trillion dollars daily global market and business.

For this reason the knowledge and the secrets of how to do it successfully have been kept away from the public for thousands of years.

This is because it is the jealously guarded “SECRET” of how the “Money and Power” Elites, the multi-national and multi-billion dollars corporations, largest banks and governments of the world, the “Movers & Shakers” of International Banking & Finance, Business moguls & Tycoons, CEOs of major Corporations, secret societies and the privileged blue bloodlines of the Wealthiest Families of Europe and the Americas make their money and get rich.

They create vast fortunes easily trading foreign currencies.

Thereafter, using this great wealth, they create factories to manufacture consumer goods and products and hire you, Joe Bloke to work in those factories, banks and jobs at minimum wages.

So, it is no wonder why they don’t want you to know about the REAL TRUTH and “SECRET” on how to generate great wealth through foreign currency trading.

If you know how to trade foreign currency and generate $100,000 monthly for life, will you be idiotic, naïve and crazy to go to work at these DEAD END jobs to earn minimum wages and be paid nickels and dimes?

So, there has been a persistent organized campaign by the powers that be, the Money Elite to KEEP AWAY AND HIDE these “SECRETS” of creating vast wealth from foreign currency trading.

That is why they are always floating false propaganda and negative campaign in the mass media that currency trading is risky and you should not do it because you’ll lose all your money.

If you go to your bank manager or money management advisor or investment management company and tell them that you wish to make money at home from online currency trading, they will scream at you and try to discourage you and frighten you with the false information and half truth that it is risky and that you’ll lose your money.

This is because it is THE SECRET with which they make money and get rich!

Citibank alone makes $20 billion dollars trading currencies yearly.

Most banks, including your bank trade currencies and it is among the major ways to create income.

It is just that they don’t advertise this secret.

George Soros, the King of forex trading makes billions of dollars yearly trading currencies!

It is reported that a few years ago, he nearly caused the government of Thailand to go bankrupt because he made so much money trading their currency!

Yes, foreign currency exchange trading or forex trading can be risky.

It is true, you can lose your shirt and go bankrupt.

But this is half of the truth.

The other half of the truth is that if you buy and study a good forex currency trading e-book guide or program and understand how it works, avoid the pitfalls and get to know the secrets of risk management and trade with discipline, you can get fabulously rich so fast it will make your head spin round and put the devil to shame.

This is why there is an organized campaign to discredit online currency trading.

If you get rich so fast, then you’ll not need to depend on the “Money and Power” Elites and their jobs and welfare system where they allow you nickels and dimes to keep you subjugated.

If you get rich too fast, they will no longer be able to manipulate you into voting and keeping them in power to continue milking your life by making you labor and work yourself to death making them rich.

There are so many reasons why most beginners in foreign currency trading fail to earn money and instead lose all their savings.

When they first hear about how easy and fast it is making money from day trading currency, they search the internet and find a forex trading broker.

Then they open a currency trading account and put in a few thousands of dollars in the online currency trading account and immediately begin to try to earn money from online currency trading.

And they get entangled in all the foreign currency trading sophisticated strategies and systems of technical and fundamental analysis such as reading “Forex charts”, “Moving Averages”, “Elliot wave”, “Stochastics”, “Bollinger bands”, “Directional movement index”, “Trend and Oscillator indicators”, “Fibonacci retracements and others.

They spend all day and night listening to business news on radio, reading forex newsletters, forex articles in magazines and watching business news on TV

These beginners don’t take their time to buy a valid online currency trading e-book guide to study and understand the forex market and the currency trading “SECRETS” before they begin trading.

They don’t open the free demo trial forex trading account to practice for free to develop viable profitable currency trading skills first before they open a paid forex trading account to begin trading and making real money.

They make the fatal and dumb mistake of trying to fly in the world of foreign currency trading market before they learn how to crawl.

So, they get confused, make grievous foreign currencies trading errors and lose their money.

When they lose their money, they will not accept responsibility because that is the difficult part.

The easy thing to do is to blame their mistakes on online currency trading and to declare and gripe that it is risky and a scam designed to con the unsuspecting public.

This gives them the justification to begin filing false complaints and instigating legal action with the lame excuse that they were naïve and didn’t know the risk involved and so have been ripped off.

The truth is that there are at least one million people around the world who have foreign currency trading skills and do it well to make millions of dollars monthly!

Yes, sometimes they will lose.

But most of the time they are fabulously profitable.

I once read about a taxi cab driver from New York who started trading foreign currencies about 10 yrs ago.

While driving his taxi cab, occasionally during his lunch break, he will log into his forex trading account and enter a few currency trades.

By the end of his driving day shift, he would check his online currency trading account and was always surprised to find that for a few minutes of trading currencies, he had made more money that day in minutes than he made driving the cab for a whole month.

This encouraged him to stop driving the taxi cab and to begin trading currencies full time.

In 10 years, he made $4 billion dollars ($4,000,000,000) trading foreign currencies online and was listed in Forbes Magazine’s 400 richest Americans!

He is just one out of the many average people all over the world who took the time to study online currency trading, understood it and trade it correctly and are making millions of dollars without any hard work.

You too can do the same.

It is simple.

If you can click your mouse once to buy the currency and in a few minutes click your mouse a second time to sell them, you can make money.

It is a no brainer. Even a caveman can do it!

So, foreign currency trading is not difficult to understand or to do like stock or bond or commodity trading.

If you know where to get a good and valid forex trading guide or e-book and be patient to spend 1 hr daily to study it to understand the foreign currency trading market, how to click your mouse to buy and sell the currency; and if you will be patient to do the free demo trial for a few months before you open a paid forex trading account to begin trading, you can get obscenely and insanely rich so fast, it will make your eyes want to pop out, seeing all the piles of cash you generate just by clicking your mouse twice for a few minutes daily!

One powerful secret that will help you as a beginner is to avoid hiring money managers at the beginning to trade currencies for you.

The reason is that 90% of these money managers who advertise with highly impressive websites and brochures and also in TV infomercials and radios and seminars are fraudulent.

When you hire them to trade for you, they will over trade your account (churning) so as to generate a lot of trading fees for themselves because whether they make money for you or not, you must pay them their fees.

The more they trade your account, the more fees they generate for themselves!

By over trading your forex currency account, they expose it to massive risk which will eventually lead you to lose a lot of money.

This is because there are certain days and times which are profitable to trade and there are some days and times which are not.

Therefore by over trading (churning) your currency trading account, they get rich at your expense.

Plus, some of them will even use some profits they generated from trading your account to trade for themselves and make themselves rich without you knowing what is going on.

As if that is not bad enough, some will entice you to trade on margin. This means that they will loan you money to trade.

But the trick is that they are loaning you digital money which is created from the air and has no value.

All they do is go to your account and enter any amount of money they wish to loan you. (They don’t actually put real money into your currency trading account!)

This is not real money because it is just digital artificial numbers.

But if you use this fake funny digital money to trade and lose, then you’ll owe them real money!

You’ll be required to pay them with real money!

And if you fail to pay them, they can freeze your bank accounts, assets and homes to collect the debt.

This is how most of these brokers get rich at the expense of naïve beginners in online foreign currency trading.

So, if you’re a beginner, avoid hiring money managers to trade for you at the beginning. Stay away from managed trading.

Instead learn to trade and after you have made at least $500,000, contact us to give you the list of the best and honest money managers in the world (as well as the best forecasting services) who can trade for you and make you richer.

There is another fraud which some money managers perpetrate.

After you open a paid online currency trading account and put in thousands of dollars in there for them to trade for you, they use your money to trade for themselves.

Then they use a computer software to generate a fake forex trading account statement for your forex trading account which will show that you’ve lost money.

There is no way most people will find out, because you can’t access their trading activities.

And sometimes even when you find a honest and reputable money manager to trade for you, when your account becomes profitable and you request to withdraw some of the money, they will begin to give you a run around, excuses and try to discourage you from withdrawing the money.

If you persist, you’ll find out that suddenly your account will begin to lose money because they have softwares to manipulate it and generate dubious account statements to make it seem as if you’ve been losing money!

Above all, most beginners in forex currency trading fail to earn money because they spend too much time in doing complicated forex mathematics, reading charts, listening to business news on radio, TV and reading too many forex newsletters and magazine articles, which are conflicting, confusing, time consuming and counter productive.

They spend so much time over stuffing themselves with forex trading news and information that they become constipated with information and overwhelmed and so have little or no time to actually click their mouse to buy and sell the currencies and make money.

Most beginners also are unable to find and use a good currency trading system and software.

Some of them are even conned into buying outrageously expensive trading softwares and system for $4000 from some companies who advertise on TV infomercials late at nights.

They don’t know that they can get the same forex trading system and softwares for free online at the websites of some forex trading companies!

These $4000 softwares are not for beginners and when we checked them out, we found they are complicated and not easy to use.

Infact after you manage to master how to use it, they will not help you to make more money!

So, it is not wise squandering your hard earned $4000 to buy them.

If these over priced worthless forex trading softwares work as they are advertised in seminars and infomercial, the companies will not be selling them.

Instead they will keep them secret and use them to make billions of dollars.

If you wake up tomorrow and discover you have a goldmine underneath your house, will you go out and advertise in TV infomercials and radios and seminars to sell your house for $4000???

The truth is that most of these infomercial advertising forex companies don’t really trade currencies. They are just sales people. Shysters. Tricksters.

They make their money by peddling worthless forex trading softwares to the naïve beginners for $4000.

When you check one of these companies out (one of them has the audacity to call their worthless software “Forex Made Easy”), you’ll discover that the CEO of this company actually admitted that not only that he does NOT use his $4000 software to trade but he knows nothing about trading currencies!

He only lends his name to his company to use to market their worthless foreign currency trading software.

The company’s pitchman who conducts the seminar is a sales man and he also doesn’t trade currencies because he had committed fraud in the past and was barred from trading commodities.

While the CEO of the company runs infomercial and seminars peddling worthless forex trading software for $4000, he doesn’t use it and doesn’t trade currencies.

Instead he hired a money manager who trades the currencies for him!

So, if you’re a beginner who desires to get rich fast from currency trading, you must know these insiders’ “SECRETS” of currency trading market and the pitfalls and how to avoid all the fraudulent companies peddling worthless forex trading e-books, books, softwares, systems and complicated trading strategies.

There are millions of them.

Beware because they are smooth operators who are very skilled in salesmanship and who can easily dazzle you with their big refined nonsensical English and so con you.

There are billions of dollars to be made in foreign currency trading and you can get abundantly rich trading these currencies online from home or office starting small.

But you must locate and buy a valid foreign currency trading e-book guide.

You must study it and understand it.

You must try the free demo account trading and do well in it before you can open a paid forex trading account to actually begin making real money.

You must begin by trading only one or two currencies at the beginning.

With time as you acquire more skills, you may trade more currencies.

You must learn how to trade with discipline and learn the BEST DAYS AND HRS to trade to be profitable and the other times when YOU MUST NOT TRADE to avoid losing money.

You must know how to “go long” or “short” on a currency, how to enter “Market Order”, “Limit Order”, “Stop Order”, “OCO order” and “Entry Order”.

If you learn how to do Online currency trading hedging, it will help you to maximize your profits.

You must be disciplined and avoid emotional currency trading.

When you make a reasonable amount of money for the day, stop trading because you can’t be profitable at all times of the day and if you don’t stop and take your profit, you may end up losing all the money you made.

Above all don’t open a paid currency day trading account and trade until you have done the free trial demo account trading for a few months and mastered it.

At the beginning, keep your trading strategies simple.

Avoid complications and advanced trading strategies of technical and fundamental analysis because these are the reasons why 90% of beginners lose money.

Use a simple trading strategy to get rich at the beginning.

Afterwards you may then take advanced forex trading courses and do technical, fundamental analysis and use forecasting services to make even more profits and get richer, making millions of dollars effortlessly.

If you’re serious in learning all the insiders’ “SECRETS” about how to make millions of dollars trading foreign currencies online, without selling your soul to the devil and without losing your shirt, you must get our powerful currency trading e-book which reveals a very simple and yet profitable and powerful trading strategy which is guaranteed to make you $100,000 monthly for life from home or office.

You can learn to get rich from the jealously guarded foreign currency trading “SECRETS” of the “Money and Power” Elites, the multi-national and multi-billion dollars corporations, largest banks and governments of the world, the “Movers & Shakers” of International Banking & Finance, Business moguls & Tycoons, CEOs of major Corporations, secret societies and the privileged blue bloodlines of the Wealthiest Families of Europe and the Americas.

With the millions of dollars which you make from foreign currency trading, you’ll be free like a bird to buy a mansion, with the most lavish and expensive furnishings, jewelry, antiques, electronics, a 50ft yacht, dream luxury cars, pick your choice: Lexus X470, $44,000 Jaguar 2007 S type, Silver Porsche Carrera, $180,000 Ferrari Testarossa, Mercedes 2007 Model S Class, 2007 Rolls Royce Silver Seraph, Bentley Mulsanne S, $220,000 Bentley Arnage Silver Tempest or a flaming red Lamborghini Jalpa!

You can make all your dreams in life to come true, without any hard work!

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Day trading is popular and you will find more vendors selling day trading systems than any other method.

People buy them yet they don’t work and guarantee you will lose longer term. Why?

Let’s find out.

Successful trading is all about trading the odds and you must have data that’s reliable that enables you to do this.

In day trading you simply don’t have any reliable data to work with and therefore cannot get the odds in your favor and may as well flip a coin.

Trillions of dollars are traded daily by countless millions of traders and daily volatility is random.

Therefore, using support and resistance areas in a day session is useless.

The only people who take any notice of daily support and resistance levels are day traders and their small losing minority.

The net result is:

Day traders place stops behind meaningless levels and are then surprised when they get stopped out.
Of course, even if their lucky enough to get a profit in day trading, they break one of the fundamental rules of investing:

Run your profits

Day traders are normally glad to scalp a few points or want to close out at the end of the day.

They therefore have huge amount of losing trades and their winners are tiny ensuring that their account equity is wiped out quickly.

Still not convinced?

Then try this simple test:

Ask any day trader for a real time track record of profits over the longer term and you simply won’t get one.

Of course, they can produce hypothetical track records (but their done knowing the closing prices!) so they are no use at all.

People selling day trading systems make their money selling a good story and collecting money from greedy or in experienced traders, so they are guaranteed to make money while the trader loses.

Day trading sounds great in theory but although it looks low risk it is not.

You are working with data that is simply unreliable and all day traders eventually end up losing their money.

If you want to make money in online forex trading then avoid day trading.

FREE ESSENTIAL TRADER PDF’S AND MUCH MORE

On all aspects of becoming a profitable trader including features, downloads and some great FREE Trading PDF’s visit our website at http://www.net-planet.org/index.html

You will see day trading systems all over the net promising you huge gains but consider this key question before you buy one:

If the system makes such great gains, why does the vendor sell it for a few hundred dollars?

Of course, the answer is:

Because it doesn’t make money and the vendor is not stupid enough to trade it, when he can sell it to novice traders who are taken in by hyped up sales copy.

Day trading systems DONT work longer term and its one of the stupidest ways to trade online forex markets.

Don’t believe me?

Then ask any vendor selling a day trading system for a real time track record and see if you get one (let me know if you do)

What you will get is a hypothetical track record of great gains, but what use is this?

Hypothetical means it was done by the vendor knowing the closing prices, not risking real money!

Now if we al know tomorrows closing price today we would all be millionaires, but that’s not the reality of trading.

So why doesn’t day trading work?

1. Volatility in any daily or hourly period is random.

The period is to short and support and resistance levels are meaningless, so you cant trade of them – You may as well flip a coin.

So what happens?

Day traders constantly get stopped out and accumulate small losses as volatility can take prices anywhere in a daily period.

Do day traders ever win?

Occasionally they get lucky and win.

When they do they get obsessed with scalping a few points profit, or getting out at the end of the day, so they can never run profits to cover their huge amount of losses.

What happens – they get wiped out longer term.

There is no better way to lose your money than day trading!
Most day trading system vendors are:

Failed brokers, writers or salesmen and make their money from selling systems.

Of course they don’t trade themselves, as they don’t trust their systems to make money and would rather have the guaranteed income from selling the system it’s a lot less risky than trading it!

Day trading is a mugs game don’t fall for the hype look at the facts.

FREE ESSENTIAL TRADER PDF’S AND MUCH MORE

On all aspects of becoming a profitable trader including features, downloads and some great FREE Trading PDF’s visit our website at http://www.net-planet.org/index.html

Not all conventional commodity trading folklore is correct. Some is and some isn’t. Much is anecdotal. Most of it is designed to make you feel comfortable in a trade. Feeling “comfortable” is the fastest way to the poorhouse in commodity trading. We are paid to provide liquidity and take on risk. Read on to see if you adhere to this basic and important market law.

More S&P 500 and E-Mini Futures Contract Observations: PART 5

“Don’t get use to big swings or chops, bear or bull trends. Expect anything, anytime.”

Yes, keep a clear, open mind every day you trade. Come into the new day with no biases or expectations. Your mind should be a clean slate. Otherwise you are peering through colored glasses based on old information. In addition, all of us have a tendency to expect what happened previously.

We love to fit the world into rigid, repeating patterns. That’s how the brain is wired. Expectations can put us in a rut if the e-mini futures market has been in a long, repetitive chop that we’ve been trading successfully. The first time the market breaks out and starts trending, many of us will keep bucking the trend and give back much of our profits. Be flexible and expect nothing at all.

There’s nothing like studying what’s happening right now to get an edge on the futures traders who trade “remotely.” By remotely I mean the day-traders who figure out their buy and sell pivot points the night before - where to enter and exit, etc. without regard to current action. They calculate e-mini retracements, support and resistance points from the past and then put in resting orders based on an end-of-day system. But I feel getting current, live and changing information “RIGHT NOW” can greatly enhance this EOD method. (end-of-day price data)

Observation:

“Once e-mini futures break above an important point, consider it strong and a buy on a test back down to this point. The market might take its time and make a double bottom to scare the sheep. But usually expect a fast turn-around spike and rally scenario. This is likely if the A-D line is neutral or slightly bullish. Sometimes a too-bullish A-D line with a big run-up is exhaustion and time for a turn. It’s the same thing for big negative A-D line openings with a gap. Look for a big rally after a series of e-mini bottoms and heavy futures contracts buying.”
‘Nuff said.

Observation:

“Use the line tool to check the A-D line histogram to see if A-D is improving while the price is lower than yesterday, etc. This is a non-confirmation.”

Since the general stock advance-decline line is an important trend indicator, you might as well use trend lines and other tools to look for confirmations and non-confirmations. An A-D line that has drastically changed from one day to the next is usually a major indication of a turning point lasting at least for the full trading day, and possibly longer. More commodity S&P 500 and e-mini futures contract articles soon!

Good Trading!

There is substantial risk of loss trading futures and options and may not be suitable for all types of investors. Only risk capital should be used.

Thomas Cathey - 27-year trading veteran heads the managed futures division of Thomas Capital Management, LLC. View his TimeLine Trading market predictions and get his complete 44+ lesson, “Thomas Commodity Trading Course” - they’re all free. http://www.thomascapitalmanagement.com/commodity/welcome.htm Main site: http://www.ThomasCapitalManagement.com