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*** A ForexTutor.us Special Report ***

Is foreign exchange trading a true get rich quick scheme? Foreign exchange trading, or Forex, is a real opportunity to get extremely wealthy in a very short amount of time. How?

The key is leverage.

Some Forex brokers allow you a leverage ratio of 200:1. That is the equivalent of investing $1,000 into a $200,000 asset, and an asset that you could turn around and trade within seconds for a quick profit if do… More >>

Important Facts about the Forex Trading System — ForexTutor.us Special Report

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Learn 26 statistical facts that should be the foundation for every day trading system. Including Individual Analysis of Bear Markets and Bull Markets, The Seasonal Tendencies in the Market, The Day of the Week Tendencies in the Market, The Best Time of the Day for a Day Trader, The Tendencies of Professional Fund Managers, The Effect of the Previous Day’s Close, The Effect of Today’s Open, and Trying to Catch the ‘Big Day’… More >>

Never on Thursday: 26 Little-Known Statistical Facts That Can Make-or-Break You as a Trader

If you are a forex day trader or considering it, then you need to know the above facts, if you do they will save you a lot of money. Forex day trading is more popular than ever but how do you make profits? Let’s find out.

If you look online you will find more forex day trading courses than any other type of trading methodology and they will all lose you money here’s why:

Let’s start first of all with the vendors who sell courses

1. Why are they selling them?

To make money for themselves! They don’t normally trade their day trading systems because they know they don’t work.

If these systems could produce regular profits they would be to busy making money for themselves and not have the time to bother you for a few hundred dollars they would be to busy making money.

2. The Evidence That day trading doesn’t work

If you ask for a track record of profits from any of these vendors you won’t get one – What you will normally get is a hypothetical track record of huge gains but this is done in hindsight – KNOWING the closing prices.

If I knew tomorrow’s price today, I would be a multi millionaire but of course forex trading is a bit more difficult – you have to work out where prices are going without knowing them in advance!

These vendors use great advertising copy to dupe people but the logic of day trading simply doesn’t work. Why? Because:

3. All short term volatility is random!

Day traders will claim that it’s not – but of course it is!

Volatility can and does, take prices anywhere in a day and daily support and resistance levels are meaningless. When day traders lose, they blame the system or the indicators they use, however if volatility is random, then it is of course the logic of day trading that is at fault – NOT the indicators.

If you think that you can make money day trading go ahead and try but you will learn a very expensive lesson and lose.

I would love a day trader to prove me wrong and produce a real time track record of gains over the longer term (3 years or more), but have the feeling I will be waiting for a long time.

The belief that you can make money day trading, is one of the biggest myths of forex trading and despite the evidence it doesn’t work, traders still think they can win at it – they can’t.

Before you attempt to day trade or buy a day trading system, there are 3 facts that you need to know, as they are critical for your day trading success so let’s look at them.

1. The Logic Of Day Trading Is Flawed

The logic of day trading is flawed and doesn’t work.

Sure you see lots of people claim to make money at forex day trading but they don’t and you will never find a real time track record of gains – we will come back to this point in a moment, for now lets look at why day trading cannot work.

The answer is simple:

FACT:

All short term volatility is random and prices can and do go anywhere in a day, so if this is true – it’s impossible to win.

Of course its common sense, there is no order to the markets in a just a few hours.

Think about it:

Millions of traders trade trillions of dollars and to say that you tell what this mass of people is going to do in a few hours is laughable.

You can never win longer term day trading so let’s look at all those wonderful track records, that tell you to give up the day job and trade for a living..

2. Where is The Track Record?

You will see people present track records in day trading and they all have hypothetical or simulated written on them – which means yep you guessed it there done in hindsight knowing the closing prices – How hard is that?

A child could do it and these track records are not worth the paper their written on.

You never see a real one!

The vendor knows it doesn’t work so he is not going to risk his money trading – he can sell the system to you, make a guaranteed profit and you take the loss in the market. The above is what happens as these vendors trick traders with simulated track records and clever marketing copy.

Scams on the net

The internet has bought lots of great information to forex traders – but also a lot of scams and cons and the biggest con of all is anyone who tells you day trading works – it doesn’t.

Try and find a track record if you dont believe me – you wont find a real one if you do tell me about it, I have been searching for 20 years.

Finally…

If you want to make money forex trading, you need to trade in time frames that mean you can get the odds on your side and this means trading longer term – leave day trading to investors who are naive, lazy or just dreamers. If you want to win – get the odds on your side and do your homework and avoid forex myths such as day trading.