With the rise of online trading we have seen a remarkable rise in how many day trading sites offering a variety of day trading systems, e-books and courses to help you scalp the market and make small regular profits that will build wealth, let’s look at choosing the best.
One of many big myths of trading is that you may make money day trading – if you ever see per day trading site that has a history of gains, search for the disclaimer below or a similar one. Read it carefully:
“CFTC RULE 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike a real performance record, simulated results don’t represent actual trading. Also, considering that the trades have not been executed, the outcomes may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general will also be susceptible to the truth that they are designed with the advantage of hindsight. No representation has been made that any account will or is likely to achieve profit or losses just like those shown “.
So what this means is you may make up any history you want, as you are simply simulating it and know the closing prices – try and find per day trader with a real-time history audited on the longer term ( 2 years plus ) and your set for an extended search.
Day trading and long haul profits certainly are a contradiction in terms – why?
The straightforward reason is – you are able to never obtain the odds in your favor and are guaranteed to lose. All short-term volatility is random, support and resistance levels in these time frames are meaningless and you simply can’t set levels which can be valid to key off and obtain the odds in your favor. Of course this is obvious. We’ve an enormous mass of traders an incredible number of them, rocket league trading all with various systems and personalities and to say you are able to measure what they’ll do in several hours is laughable and totally incorrect.
Many traders claim that human nature is constant and therefore prices go on to a scientific theory. You will often find them use such theories as – Gann, Elliot and Fibonacci but they don’t really work.
Because human nature is constant but we certainly don’t adapt to a scientific theory when trading! We’re creatures of emotion and you can’t measure these scientifically. If there were a scientific theory that worked, we would all know the cost beforehand and there will be no market.
Most day trading sites are not run by traders at all there run by marketing organizations that sell simulated track records with hyped copy, to interest naïve or greedy traders – they make their income from selling product and the trader takes the losses in the market. If you wish to generate income avoid day trading sites and day trading it truly is that simple instead, turn to trade longer term trends where you can obtain the odds in your favor.