With the rise of online trading we’ve seen a dramatic rise in how many day trading sites offering many different day trading systems, e-books and courses to help you scalp industry and make small regular profits that could build wealth, let’s look at choosing the best.
Among the big myths of trading is that you possibly can make money day trading – if you ever see per day trading site that’s a history of gains, search for the disclaimer below or perhaps a similar one. Read it carefully:
“CFTC RULE 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike a genuine performance record, simulated results do not represent actual trading. Also, considering that the trades haven’t been executed, the outcome could have under-or-over compensated for the impact, if any, of certain market factors, such as for example not enough liquidity. Simulated trading programs generally will also be susceptible to the truth that they are designed with the main benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses just like those shown “.
So this means you possibly can make up any history you prefer, while simply simulating it and know the closing prices – try and find per day trader with a real time history audited on the long run ( 2 years plus ) and your set for an extended search.
Day trading and long haul profits are a contradiction in terms – why?
The easy reason is – you are able to never get the odds in your favor and are guaranteed to lose. All short term volatility is random, rl trading support and resistance levels in these time frames are meaningless and you only can’t set levels that are valid to key off and get the odds in your favor. Needless to say this really is obvious. We have an enormous mass of traders millions of them, 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 say that human nature is constant and therefore prices proceed to a scientific theory. You will often see them use such theories as – Gann, Elliot and Fibonacci but they do not 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 have been a scientific theory that worked, we’d all know the purchase price ahead of time and there could 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 attract naïve or greedy traders – they make their income from selling product and the trader takes the losses in the market. If you intend to make money avoid day trading sites and day trading it truly is that simple instead, look to trade long run trends where you are able to get the odds in your favor.