Day Trading Systems - Why Do you Never Get a Real Track Record?
Day trading system are all over the net offering you fantastic opportunities to become yet, the odd fact is you never see any proof they work!
Why?
Because day trading simply doesn't work!
Firstly, when we talk about a track record lets be clear about what we mean:
We mean a real ( THAT'S REAL DOLLARS ) made in the market over a long period of time say 2 or 3 years.
Not A hypothetical back tested one.
If we know the price data already it's not hard to make a profit!
It's funny how you never see a losing hypothetical track record - Wonder why?
The other trick is testimonials to support the system.
Their simply someone who has a lucky trade or a friend or relative of the vendor.
The real acid test is real money, made in the market over a long period of time.
So why don't day trading systems work?
1. Price movement in a day is random
The fact is trillions of dollars are traded by millions of traders all with different aims and guess what?
The vast bulk have no interest in daily ranges.
The day trader takes his position and gets stopped out by random volatility, as support, resistance and daily pivot points don't hold.
2. A rule of trading that always gets broken
Is to keep losses small and run profits to exceed losses.
Day traders certainly keep losses small and they take a lot of them, but that's no problem - if you can run profits that are far bigger to compensate.
Of course, the day trader can't do that, he is looking to scalp a few points and is generally happy with any profit.
So you have large number of losses, profits that are to small and this leads to an erosion and then a wipe out of equity.
Sorry forgot:
You need to add in higher than normal transaction costs, to add to losses and subtract from profits as well
Still not convinced?
Then ask for a day trader's long term track record of real profits.
Day trading is one of the dumbest ways to trade - period.
Related Tags: day trading, daytrading, currency day trading, day trading systems, forex day array trading systems
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
Recent articles in this category:
- Sbi Best Sip Plans 2010
SBI Mutual funds have introduced many mutual schemes. Each scheme has different limitations. SBI SIP - Icici Sip Plans 2010 - Best Sip Plans
ICICI Prudential offers many schemes. These fund schemes have SIP. What is SIP? SIP's expansion is S - Determining Where To Invest Money
There are several kinds of investments, also you will find numerous factors to find out where to inv - Retirement Plans A Necessity Of Life
A person works whole life to give a decent upbringing to his children and families. But while improv - Stock Market Timing Signals
Follow the PlanThis would seem a statement of common sense, but the fact of stock market timing sign - A Selection Of Financial And Investment Strategy Guidelines For Turning A Profit
Yet, we don't often have the money to leave work right at this moment. We need a constant salary to - Find Out The Profitable Way To Invest In Small Cap Stocks
Everyone wants to find a penny stocks list or other investment strategies that can turn your literal - Portfolio #4 - Watergate
IntroductionThe problem is not that the world is running out of water. No, the problem is that drink - Dulton Group: Information Content Of Dividends
Dulton Group helps you to analyze the information content of dividends, an important factor affectin - Coping With Fear In A Markets
The real fact is that all traders, investors as well as stock market investors, who feel afraid, occ
Most viewed articles in this category:
- Investor Stress: A New Approach
George Muzea is both an investor and a stock market advisor. In any given month, he will be paid $10 - Real Estate Investment Financing
1. Location: Your real estate investment's location is arguably the most important component of your - Canadian Oil Sands - Who Are the Major Players
The Canadian oil sands represent one of the most lucrative investment opportunities to oil and gas i - Why Bulk Preconstruction?
Bulk preconstruction is the latest trend in secure, high profit real estate investing. By buying wit - Investing - It Is Not As Scary As You Think
Many people want to have more money - OK everyone does. However, most people don't know how to go a - How Do I Know Which Programs Are Scams?
Although it is virtually impossible to tell if a HYIP is a scam until the moment when they stop payi - Currency Trading Success - 6 Tips to Increase your Profits
If you want to increase your profit potential and achieve currency trading success then the simple t - The Business Cycle
Investors who want to beat the market should be followers of the business cycle. The business cycle - Pros and Cons of Real Estate
Like any other profession, there are good and bad things about what are available. Each of the thin - The Fixer Upper
Real estate investing has become almost a national pastime. Millions are made every year on the buyi
