The vast majority of articles written on day trading are not written by traders at all.



There normally written by people who are simply trying to make money by appealing to traders to visit their site where they have ad words or products from vendors for sale.

These products appeal to people who are looking for an easy way to make money in forex and they lose.

The fact is day trading simply doesn't work.

As an experienced trader, I find it amusing that people actually believe what some authors say in terms of day trading, here are just some examples:

"Predict market tops and bottoms with 90% accuracy"

"Scalp profits everyday"

"Earn $10,000 a month with this system"

Of course these day trading systems don't work as the track record that comes with them will have the disclaimer below (or 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, since the trades have not been executed, the results 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 are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".

What this means is a vendor can make up any track record they like in hindsight, knowing the closing prices - but trading is actually a little more difficult, you have to trade without knowing the closing prices!

You will never see a day trading system with a track record of real gains, audited with account statements over the longer term. If you do - let me know because I have been trading for 25 years and never seen one.

Day trading forex day trading stocks, day trading commodities, day trading CFD's - it doesn't matter - day trading does not work in any of them due to the following:

All volatility in short term time frames is random and prices can and do go anywhere, meaning that if you try and use support and resistance levels they wont help you with your trading signal or help you get profitable market timing.

You therefore can't get the odds in your favour and will lose over time.

This is fairly obvious when you consider that the price in any financial market is made by a vast diverse group of traders.

You simply cannot predict what this vast mass of people will do in a period of a few hours - the time period is simply to short.

If you want to make money trading then you need to trade longer time frames, where you can calculate and get the odds in your favour. This means swing trading or trend following.

So the next time you read a day trading article you should be aware that the person writing it has probably got no experience on the subject they are actually writing about. There are lots of day trading articles and the vast majority of the authors have simply never traded.