There are many forex day traders whose aim is to make regular profits everyday and over time these small profits mount up. There are plenty of forex trading systems on the net to choose from - but how do you choose the best for this form of trading?

The fact is you can’t choose the best one because NONE of them work.

Fact:

It is impossible to earn money every day or regularly when trading and it’s impossible with day trading - because day trading simply doesn’t work at all.

The Reality

Day trading systems are sold on hyped advertising copy and use hypothetical track records (that means done in hindsight knowing the closing prices!) so their of no use in proving profitability going forward.

Keep in mind you never find a day trading system with a real time track record.

So why doesn’t day trading work?

Quite simply because the data period is to short and you cant get the odds on your side.

Think about it:

There are millions of traders trading trillions of dollars each day and to say that you can judge what they will do in a few hours is laughable, yet many naive and greedy traders take the bait, buy a system and lose.

FACT

All short term volatility is random and prices can and do go anywhere in a day, support and resistance levels are therefore meaningless.

You can never get the odds on your side and over time you will lose – PERIOD.

Are there any day traders with real time track records?

Many claim they have but will never show it to you maybe there is one somewhere but I have never found one in 25 years of trading.

The people who sell these systems know there a good story and simply use hyped advertising and a meaningless hypothetical simulation to sell the system. Of course these people don’t have the confidence to trade themselves for real, as they know the systems don’t work.

The deal is:

You buy the course or system, then lose and they pocket a fee or guaranteed income.

You lose they win, it’s as simple as that.

Sorry - No FREE Lunch

There are a huge number of forex trading systems out there (most in forex day trading) that promise that if you follow them you will get rich. Of course if it were as simple as that everyone would be traders and no one would work!

Forex trading is hard – 95% of traders lose.

To win you need to learn and trade in away that you can get the odds in your favour and that means no day trading - look longer term and do your homework.

There is no “free lunch” when it comes to making money, so when you see the next “sure fire” forex day trading system don’t be fooled by the copy or ask for the real time track record and if you do get one – let me know.