Forex scalping and day trading is more popular than ever and is the choice of most new forex traders but is it the right one and how do you enjoy forex scalping success – let's find out.
1. Short Term Volatility is Random
Millions of forex traders trade trillions of dollars in currency each day and to say that you can measure what this diverse number of traders will do in a few hours, or a day is laughable you can't.
2. Support and Resistance Levels are Meaningless
To trade any market you need to have valid levels of support or resistance to key off however with all volatility being random in short term trading, prices can and do go anywhere and support and resistance cannot be used - as the data simply isn't valid.
3. No Trading system Will Work
It doesn't matter how good or well thought out the trading system is - if volatility is random and support and resistance not valid it wont work!
In any financial market to win you need to trade the odds and if you cant, you are going to lose longer term. It's a bit like being in a casino - if you can count the cards in a game such as blackjack you win but in a game of pure chance like roulette, play long enough with the odds against you and your going to lose and it's the same in forex scalping.
You cant get the odds on your side and you cant win - PERIOD
4. Forex Scalping Systems Don't have Track Records
Yes they do many traders will say - I have seen them. Sure they have and written all over the track record will be "hypothetical" or "simulated" This means it wasn't traded in the market but done on paper knowing the closing prices!
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