Most new Forex traders are attracted to day trading and scalping, as it offers small regular gains and low risk and there are many vendors who sell this concept but the real secret about Forex day trading is the following...

It doesn't work and its obvious why - as short term volatility in a daily time frame is of a random nature, prices can go anywhere and do not respect daily levels.

The reason this happens is quite simply, humans which make any price cannot be predicted in the space of hours, think about this:

No Odds in your Favour = Losses

A huge number of traders (that can amount to several million) all make the price collectively. They all have different aims, skills systems and many are governed by their emotions and all have a different view of the market and are not creatures of logic - they all see the facts in their own way and all these opinions make the price.

To try to predict what this group will do in the short term is simply not possible. This makes daily levels not being irrelevant for trading off therefore you cannot even get the odds on your side. This basically means you are going to lose sooner rather than later.

The Evidence

Don't believe me? Well here is the evidence.

Look at any vendor selling secrets of day trading or a sure fire system and you won't see a real time track record, just a simulated back test knowing the closing prices.

Anyone can see order going backwards, as you know the facts and can buy and sell wherever you wish and make a profit - but trying to trade going forward without knowing the price is a very difficult and far harder ball game.

Many vendors say prices move to science and that's why you can win but this is absolute rubbish. They say humans conform to a law and all you need to know is learn and follow the law.

There are many ridiculous theories based on this including Fibonacci and Elliot Wave but there not scientific if they were, they would work all the time (they don't) and everyone would know the price in advance and there would be no market!

The Real Way to Win

Is to trade a time period that is longer where you can get the odds in your favour and use robust money management to keep your losses small and run your profits. You can trade short term swings but by short term I mean a few days to a week or so or you can follow the long term trends of weeks or months.

Either of the above will work as you have the odds in your favour and that means the opportunity is there to win and this advantage is not available to you in day or swing trading.

So really the secrets of Forex day trading and scalping that are told to you by people who say it works are NOT based on sound logic.

The best secret I can give you which of course vendors will never tell you is don't try it in the first place!

Forex trading offers a great opportunity for profit - but to win you need to trade longer term and base your Forex trading strategy on longer term time frames - if you do that you can win.