With the rise of online trading we’ve seen a remarkable rise in the amount of day trading sites offering a variety of day trading systems, e-books and courses to help you scalp the marketplace and make small regular profits that may build wealth, let’s look at choosing the best.
One of the big myths of trading is that you may make money day trading – if you ever see per day trading site that’s a track record of gains, look for the disclaimer below or even a similar one. Read it carefully:
“CFTC RULE 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, considering that the trades haven’t been executed, the outcomes might have under-or-over compensated for the impact, if any, of certain market factors, such as for example insufficient liquidity. Simulated trading programs generally speaking are also susceptible to the fact they’re designed with the benefit of hindsight buy rocket league items. 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 track record you want, when you are simply simulating it and know the closing prices – try and find per day trader with a realtime track record audited on the long run ( 2 years plus ) and your set for a long search.
Day trading and long term profits really are a contradiction in terms – why?
The simple reason is – you can 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 only can’t set levels which can be valid to key off and obtain the odds in your favor. Obviously that is obvious. We’ve a massive mass of traders an incredible number of them, trading all with various systems and personalities and to state you can measure what they will do in several hours is laughable and totally incorrect.
Many traders say that human nature is constant and therefore prices go on to a scientific theory. You’ll often find them use such theories as – Gann, Elliot and Fibonacci but they don’t work.
Because human nature is constant but we certainly don’t conform to a scientific theory when trading! We are creatures of emotion and you can’t measure these scientifically. If there were a scientific theory that worked, we would all know the purchase price beforehand and there could be no market.
Most day trading sites aren’t run by traders at all there run by marketing organizations that sell simulated track records with hyped copy, to attract naïve or greedy traders – they make their income from selling product and the trader takes the losses in the market. If you wish to make money avoid day trading sites and day trading it is actually that simple instead, turn to trade long run trends where you could obtain the odds in your favor.