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,
