| Many trader use intra day charts to try and time the | | | | to get out in the day with a profit. |
| market for maximum profits and keep losses small | | | | They can do this sometimes (by luck more than |
| and make big profits overtime. | | | | anything else) but their profits are never big enough |
| But how can you do this? Let's find out. | | | | to cover their inevitable losses. |
| Intra day charts sound like a great way to maximize | | | | Ever heard the phrase |
| profits and keep losses small but all you will do is end | | | | "Run your profits and cut your losses? |
| up losing money quickly. | | | | Its sound advice. |
| Why? | | | | You can't do this trading intra day. |
| Consider what the FOREX market actually is and you | | | | All you will end up doing is keeping your losses small, |
| will see why using intro day charts is simply a good | | | | have higher odds of being stopped out and never be |
| way to put the odds firmly against you. | | | | able to run your profits to cover your inevitable |
| The FOREX markets are huge and trillions of dollars | | | | losses. |
| are traded everyday and you cannot predict what | | | | The net result - You lose all your money over the |
| will happen in such a short time frame as a few | | | | longer term. |
| hours or minutes. | | | | Intra day trading is mostly promoted by system |
| It's a ridiculous way to trade. | | | | sellers or vendors who simply make money selling to |
| There is insufficient data and volatility in such short | | | | you. |
| time frames is unpredictable. | | | | They don't trade themselves and if you ask them, |
| Trade with the odds | | | | can NEVER Produce a real time track record of |
| Currency markets trade longer term and reflect the | | | | consistent gains. |
| underlying health of the economy (which of course is | | | | You may get a few testimonials or a hypothetical |
| long term) and intra day movements are random. | | | | track record in hindsight. |
| You cannot set stops intra day, as daily resistance | | | | We can all make money in hindsight, but trading intra |
| and support points are meaningless. | | | | day in the market real time is far harder and you will |
| The scenario that dooms you to lose. | | | | lose. |
| You can keep your losses small, but your chances of | | | | Don't fall for this method of trading you will simply |
| being stopped out are also high. | | | | lose as the odds are firmly against you. |
| As for running profits, intra day traders simply want | | | | |