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I pose this question as I look through the vast landscape of opportunities throughout the world of the internet. As many people are losing their homes or losing their jobs or both there is a since of urgency to figure out what is real and what is hot air. Trading the forex, well any kind of trading for that matter is risky and it takes patience, knowledge and confidence to risk your money in hopes of turning it into a fortune. I have seen many people with accounts of less than a thousand turn it into over $100 in months. I have also seen accounts larger than $100 turned into thousands in a matter of days. Finding a consistent way of trading is invaluable and with robots that do not sleep and that do not get nervous can be a godsend. So if creating a liscense to print money is your goal or how about just a liscense to make money where no one is standing in your way or trying beat you out of the corner office can be just what the doctor ordered. Oh and by the way you do need a liscense to be one of those guys!
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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.
Sacha Tarkovsky
http://www.articlesbase.com/investing-articles/day-trading-using-intra-day-charts-for-profit-128073.html
http://EzineArticles.com/?id=3138695
A secret to successful forex trading is education. Manual systems require the most education. Automated forex trading systems are the easiest to use and have high trade win ratios.
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How I Got 82% Gains In The Forex Market In Less Than 10 Months. Visit http://forex-marketmaker.com to find the answer…
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With all the information available online, you may have decided to begin your day trading education there. Unfortunately, among all the good information, there is a lot that will send you down the wrong course fast. With many advertisements for day trading courses and services proclaiming you can easily get started as a trader and quickly learn to be successful, you might actually start to believe the hype. Before that happens, please consider the points below to see if your day trading education has truly prepared you.
1. Know Your Level Of Discipline
One of the main things that separates those traders who consistently profit from those that don’t is the level of discipline they put into their trading. This discipline starts with their education. Successful traders put in the time and effort to learn all they can beforehand. Then they find or develop a trading plan or system and stick with it. If you are a person who is just looking for fast profits, you probably do not have the the inner-strength needed to keep your emotions in check.
Are you someone who can’t follow through with a plan, or a person who is easily influenced by their emotions? If so, no amount of day trading education is going to help you be a better trader until you overcome these obstacles.
2. Know Your Level Of Risk
Every day trader has a breaking point. Because of this, knowing how much liquid capital you are willing to risk and being honest about that amount is another factor you should educate yourself on. If you don’t have the tens of thousands of dollars necessary to comfortably start day trading, you should not start – no matter how well you’ve educated yourself on the subject.
Even the most well-educated day traders know that they will make mistakes and that these mistakes will sometimes cost them very large sums of money. They calculate this risk into their plans and systems and make certain they have both the capital to cover this possibility and the inner-fortitude to emotionally handle such a large loss if it should occur.
3. ank”>Know What You Don’t Know
Day trading education is an ongoing process and not a one time effort. Once you do start trading, you should continually make note of any information, terms or concepts that you come across and don’t recognize or understand. Then, regularly block a certain amount of time for further research and study to fill these gaps in your knowledge.
Again, discipline will go a long ways here too. Keeping up with new information and trends and continually educating yourself will put you on a higher plane, one much closer to that of the most successful day traders.
With the above points in mind, take some time to honestly assess your position. In the end, if you decide you do in fact have the proper level and combination of day trading education, discipline and capital to risk, you may well be on your way to a profitable day trading career.
James Allen
http://www.articlesbase.com/non-fiction-articles/day-trading-education-are-you-really-ready-to-trade-92807.html
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How do you pick a day treading system that makes big consistent profits and look at day trading systems that can help you win.
So, how can you pick the best day trading system to help you make big consistent profits?
Let’s find out.
The hype
On the Internet there are a huge number of systems sold in day trading and they sound great earn 70% profits, scalp 10 -20 pips everyday etc and all for a few hundred dollars or less!
So what makes a great day trading system?
Well the answer is:
Nothing – Because the logic of day trading does not work – PERIOD
Don’t believe me?
Then consider the following:
1. Have you ever seen a day trading system publish a track record of real profits that’s made in the market NOT a hypothetical simulation?
No neither have I.
Ask any vendor selling a system for a real time track record over the longer term and you won’t get one.
How day trading system vendors make their money then?
These vendors are not stupid enough to trade the system themselves! They sell them, despite the fact the logic does not work and can never work.
They will take you money for the system so they win, then you trade it and lose, that’s simply the way it is.
So why can’t you win at day trading?
Its common sense really:
Volatility in daily and hourly frames is random.
Using daily ranges, support, resistance pivot points, or any other technical tool is a complete waste of time, as prices can go anywhere in a day and do.
The only people who look at daily ranges and consider them significant are day traders and their a very small losing minority of the millions of traders in the market.
Don’t fall for the hype of day trading.
It’s a fact that day trading system vendors don’t produce real time track records as they are sensible enough not to trade their systems.
They know they lose money.
So why not write some great copy and make up a simulated hypothetical track record and make some money selling the system instead?
People who believe day trading works are either:
Stupid, naive or both.
Don’t fall into the trap of thinking day trading will make you money it wont and if you don’t believe me ask for the proof of a real time track record of long term gains before you buy,
Sacha Tarkovsky
http://www.articlesbase.com/investing-articles/day-trading-systems-how-to-make-big-consistent-profits-121390.html
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What are your going to do now?
Lost your job? Your career is over? Your business failed?
Yet, you have some trading experience and the resources and passion to start a new career/business.
Then day trading may be for you.
Unlike other individual financial instruments traded, with stock day trading there are thousands of stocks that can provide dozens of day trading opportunities (big money wins) – any trading day, any time of the trading day. This article is about: day trading stock, trading stock, stock day trading, day trades, stock day trade and the like and you.
A fresh perspective about stock day trading.
While daytrading, It is the job of the day trader to find setups, stocks that present opportunities to make substantial money, throughout the trading day, online day trading, especially day trading stock.
The successful day trader should be looking for stock in a tension state, which is simply a stock with a daily price movement substantially away from a price balance, technically speaking, when you view charts. A tension state would be much like viewing a pendulum with the ball pulled away from neutral enough that, when released, it tends to accelerates to its neutral state and beyond.
Stocks, like the pendulum ball, tend to seek a balanced state, and like the ball, they return to balance and beyond, then fluctuate above and below the neutral position as they eventually return to some state of balance, or non-tension state, above, below, or close to the point of beginning.
Do stock prices behave this way while daytrading during the same trading day? Yes and no.
There are times when price of a stock will be completely filled after a gap open (price move from the prior day close) that morning of day trading or later in the trading day. Other times you will see a 50% retracement in the same day. Most times a gap move at market open will hold this tension state or price move the whole day and fill completely or partially on subsequent days.
As there is no way to predict how the price of a stock will behave after a sudden, major price move, it is best advised to be out of any of these day trades before the end of the day trading day.
Day trading stock, we find, is also far more interesting, as each stock represents the performance of an individual company or companies with tangible and recognizable products and services exchanged worldwide, in many instances involving companies managed by recognized leaders in their field. Each stock has both a technical (long and short-term price charts) and a fundamental (financial performance, balance sheet, profit and loss statements, earnings and so on) histories – both in flux, both impacting price positively and negatively. Therefore, trading stocks is far more interesting, and frequently more challenging than other forms of day trading to make money yet the profits are unlimited for those who learn to play the new game well.
Why day trading as opposed to swing trading or investing?
The last few months of 2008 have been crises times for most stock traders, where holding after the market close presents enormous risk. Stock prices can move 5, 10, even 20% or more over night leaving swing traders in shock at the open of the following day trading day. For all those buy and hold investors, their experience was no less shocking where, within just a few months, their mutual fund, IRA, or private investments can be 30, 40, and 50% depleted in overall value in a matter of months, wiping out decades of gains.
Day trading stocks, buying and selling stocks within the same trading day, with no exceptions, is in our view the best day trading opportunity in the NYSE and Nasdaq markets while day trading stock, trading stock, stock day trading, day trades, stock day trade.
Done well, gaining the confidence and competence with a consultant / coach, trading with a winning system that consistently gives you anticipated results, stock day trading can be the most rewarding (both for the joy of winning and wealth building profitability) trading approach we know of (and we have tried them all).
You too can earn thousands a day – day trading stock, should you qualify.
John McLaughlin
http://www.articlesbase.com/day-trading-articles/a-new-career–day-trading-stock-678727.html
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Andreas Kirkberger Forex Killer software has certainly created a lot of buzz in the forex industry. Andreas claims it’s automated forex software can make you as much as half a million dollars in just a few months and even beginners can learn to make money in forex trading.
Forex Killer is certainly interesting and I was intrigued to find out whether the claims were true or just scams. I decided to purchase a copy to find out the truth about Forex Killer.
The software was easy to download and install. You do need an activation key which can be obtained in the members area.
My first impression of Forex Killer was that the interface was intuitive and easy to use. Everything is labeled nicely and there are only a few buttons to play with actually. This software is clearly meant for forex newbies.
If you have ever played with other forex software, you know it can be terribly complicated to navigate or even just to place trades.
To run the software, all you have to do is to log into your forex broker account (information to do this is provided) and feed the data into forex killer. Typcially, you will need to feed it with data for at least 7 days. The more data you can feed forex killer, the better.
Once that is done, click on the calculate button and wait for a while for the software to generate forex signals. It will automatically generate long term as well as short term forex signals.
Although there are companies that can help you generate forex signals, the cost are usually very expensive and only big financial institutions and forex brokers can afford the subscription. Certainly being able to generate your own forex signals can help you save a lot of money.
Forex Killer also allows you to put a stop loss easily and it is important to put a stop loss on your forex trades especially if you are new to forex trading.
Andreas also provide technical support if you need help with his software. Although Andreas claims you do not need any forex knowledge to use forex killer, I feel you still need some basic knowledge of forex to know what you are doing.
Andreas do provide a basic guide to forex trading in the members area but I find it to be inadequate. Nevertheless, this software does works to help you generate forex signals and you can make money with it if you know how to use it properly.
Ricky Lim
http://www.articlesbase.com/currency-trading-articles/forex-killer-review-is-andreas-kirkberger-forex-killer-scam-721364.html
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Trading in the forex market takes a lot of work, focus, and concentration. Anyone who trades in the forex market without some form of analysis or a trading plan for that matter, is not really trading. More fittingly, the trader who simply goes in and out of trades without thinking is just gambling. Making money in forex trading is definitely worth more than a gamble. The amount of effort you exert in learning about how to trade and when to trade, and reading the market indicators before you get in and out of trades will be well worth it when you start raking in pips from your trades.
Carefully managing your investment is the wisest move you can make towards a long-term forex trading business. A good forex business is not only about making your pips. What good are your profits if you are not going to be able to keep it or make it grow some more? Longevity in forex trading lies in being able to make pips, keep pips, and repeat the process. Taking care of the pips that you have made and infusing additional investment when great opportunities are seen will make for a profitable forex trading business.
The business of forex is just like any other business. Sound money management practices are necessary to keep you in business. The advantage of trading in the forex market over other businesses is that it allows you to earn more profits at shorter periods. Management of your investments and profits will guarantee that you will be in business for a long time.
Timothy Stevens
http://www.articlesbase.com/currency-trading-articles/forex-trading-definitely-not-worth-a-gamble-721674.html
