Forex Scalping - For A Living A Novices Guide
- Date: 2007-11-25 - Word Count: 576
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Forex scalpers rely on trading for small regular profits and building up huge profits over time they don't aim for big profits they aim for consistent small gains that mount up and its one of the most popular forms of trading. Forex scalping is popular and here we will present you with all the facts you need to know.
The most important fact is - it doesn't work!
Don't believe me? Then read on and you will see why trying this method of trading is simply ridiculous and guarantees you will lose
Short Term Volatility is Random
You have countless millions of traders who trade trillions of dollars each day and to say you can measure what is going to happen in a few hours or a day is ridiculous.
You cannot predict what this mass of people are going in such a short time frame.
All short term volatility is random and prices can and do go anywhere in short periods.
This means that support and resistance levels are meaningless and cannot be traded.
You can't get the odds in your favor and you will lose - period
Fact: Vendors claim it makes money but have give no evidence
Have you never wondered why all those vendors selling the systems with their claims of huge profits per annum don't just keep quite and trade themselves? The answer is obvious:
They make money selling courses - they win and you lose - PERIOD.
They have the good sense not to trade themselves and normally give a simulated, hypothetical track record - which is exactly what it implies.
Its done in hindsight, knowing the closing prices.
Could you do that? You and I can both could - but in the real world of trading you don't have the luxury of knowing the price in advance.
These guys know it's a good story and don't risk trading in forex markets but know they can make money selling copy and that's what they do and give you a loss and them a profit - it really is that simple.
It Breaks a Fundamental Rule of Trading
If you still are not convinced well consider this it breaks one of the fundamental rules of investment:
Which is, "run your profits and cut your losses"
Forex scalping by definition aims for small profits ( and they have a lot of them) but they can't even when they get lucky run a big profit - you bank quickly, that's the advice!
How stupid is that?
Forex scalpers only want a few pips and don't run profits - does that make sense to you?
So you have lots of small losses and when a forex scalper is lucky enough to get a profit it gets closed out quickly.
Well that is simply a way to wipe out equity!
Lots of small losses and profits that cant be run enough cover them.
It's not the market that gets scalped, it's the trader who ends up wiped out.
Naive and greedy forex traders love the story, as it looks like easy money but there is no such thing in forex trading.
If they had done their homework and got the right forex education, they would realize that trading is an odds game and trying to scalp the market for small profits is doomed to failure.
Trading forex is an odds game and forex scalping can never by definition get the odds in your favor so learn forex trading the right way - don't look for easy profits, look at getting the right forex education and that means trading the odds.
The most important fact is - it doesn't work!
Don't believe me? Then read on and you will see why trying this method of trading is simply ridiculous and guarantees you will lose
Short Term Volatility is Random
You have countless millions of traders who trade trillions of dollars each day and to say you can measure what is going to happen in a few hours or a day is ridiculous.
You cannot predict what this mass of people are going in such a short time frame.
All short term volatility is random and prices can and do go anywhere in short periods.
This means that support and resistance levels are meaningless and cannot be traded.
You can't get the odds in your favor and you will lose - period
Fact: Vendors claim it makes money but have give no evidence
Have you never wondered why all those vendors selling the systems with their claims of huge profits per annum don't just keep quite and trade themselves? The answer is obvious:
They make money selling courses - they win and you lose - PERIOD.
They have the good sense not to trade themselves and normally give a simulated, hypothetical track record - which is exactly what it implies.
Its done in hindsight, knowing the closing prices.
Could you do that? You and I can both could - but in the real world of trading you don't have the luxury of knowing the price in advance.
These guys know it's a good story and don't risk trading in forex markets but know they can make money selling copy and that's what they do and give you a loss and them a profit - it really is that simple.
It Breaks a Fundamental Rule of Trading
If you still are not convinced well consider this it breaks one of the fundamental rules of investment:
Which is, "run your profits and cut your losses"
Forex scalping by definition aims for small profits ( and they have a lot of them) but they can't even when they get lucky run a big profit - you bank quickly, that's the advice!
How stupid is that?
Forex scalpers only want a few pips and don't run profits - does that make sense to you?
So you have lots of small losses and when a forex scalper is lucky enough to get a profit it gets closed out quickly.
Well that is simply a way to wipe out equity!
Lots of small losses and profits that cant be run enough cover them.
It's not the market that gets scalped, it's the trader who ends up wiped out.
Naive and greedy forex traders love the story, as it looks like easy money but there is no such thing in forex trading.
If they had done their homework and got the right forex education, they would realize that trading is an odds game and trying to scalp the market for small profits is doomed to failure.
Trading forex is an odds game and forex scalping can never by definition get the odds in your favor so learn forex trading the right way - don't look for easy profits, look at getting the right forex education and that means trading the odds.
Related Tags: day trading, forex trading, currency day trading, forex day trading, currency trade, forex scalping
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