| Day traders look to use hourly charts within the day | | | | 3. It's a fact that volatility within in any day is random. |
| so they can trade with limited risk and get out with a | | | | It doesn't matter what indicators you use, day |
| profit. | | | | traders are working with meaningless data. |
| When doing this they use a variety of technical | | | | 4. Day traders who use intra day charts think that |
| indicators such as pivot points to help them. | | | | they can restrict risk, but of course they actually |
| Let's see how intra day charts can be used to help | | | | create it. |
| make profits in forex day trading. | | | | Their stop levels get triggered the majority of the |
| The answer is you cannot make profits consistently | | | | time, as volatility stops them out. |
| trading using intra day charts! | | | | When their lucky enough to get a winner, they don't |
| This is obvious to most people except day traders. | | | | run the position and are grateful to get out with any |
| The Proof | | | | profit they can. |
| The reason is obvious, but many novice traders fall | | | | So not only do day traders use meaningless data, |
| for the hyped sales copy of vendors selling these | | | | they also break the fundamental rule of investing: |
| forex day trading systems. | | | | Cut your losses and run your profits to cover them. |
| However, if you ask them for their real time track | | | | Day traders to be fair do keep losses small ( and |
| record you won't get one. | | | | they have a lot of them ) but of course they can't |
| Of course, you will get a hypothetical track record | | | | run profits to cover them. |
| done in hindsight. | | | | What is the end result? |
| These show wonderful profits, but as the track | | | | A wipe out of account equity. |
| record has been constructed in hindsight knowing the | | | | If you want to lose your money quickly, their really is |
| closing prices it's not exactly hard to make money! | | | | no better way then trading with intra day charts. |
| If I knew tomorrow's closing price today I would be | | | | So why do so many people fall for day trading |
| a multi millionaire but of course forex trading is not | | | | systems? |
| like that. | | | | They tend to be greedy investors who think forex |
| The reason why intra day charts are useless and day | | | | trading is easy, or novice traders who don't know |
| trading logic is flawed: | | | | any better. |
| 1. Consider this everyday trillions of dollars are traded | | | | Day trading systems are sold by vendors who rely |
| by countless millions of traders all with different | | | | on attractive sales copy. |
| investment objectives and styles. | | | | They tend to fall into two groups failed brokers or |
| To think that this mass can be predicted in the time | | | | marketing people who have never traded. |
| period of a few hours is laughable. | | | | Of course their not stupid enough to trade the |
| 2. Most of these traders pay no attention to day or | | | | systems they sell themselves - That's why you |
| intra day levels the only people who do are day | | | | never get a real time track record |
| traders and their a tiny losing majority. | | | | They simply make money from selling the system |
| As these levels are not considered important, | | | | and leave buyers to lose money. |
| volatility can and does take prices anywhere. | | | | They win, day traders lose, it really is that simple. |