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Thread: Articles About Day Trading

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    Default Articles About Day Trading

    I Try add some articles about day trading
    I will update in this thread


    Regards,
    Remember.
    Trading is not a sprint but a marathon. Compounding money is a powerful thing.
    Be patient and persistent
    Exercise discipline
    Always, Always use stops loss
    Protect your profits at all times.
    Accept your losses like a man. If you cant accept your losses you will become a nerverous trader.
    When in doubt stay out.

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    Default Day Trading - Using Intra Day Charts for Profit

    Url : http://www.ideamarketers.com/?Day_Tr...9&from=PROFILE
    Day Trading - Using Intra Day Charts for Profit
    by sacha tarkovsky


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

    Remember.
    Trading is not a sprint but a marathon. Compounding money is a powerful thing.
    Be patient and persistent
    Exercise discipline
    Always, Always use stops loss
    Protect your profits at all times.
    Accept your losses like a man. If you cant accept your losses you will become a nerverous trader.
    When in doubt stay out.

  3. #3
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    Default Day Trading A Common Mistake That Will See You Lose

    Url : http://www.ideamarketers.com/?Day_Tr...0&from=PROFILE

    Day Trading A Common Mistake That Will See You Lose
    by sacha tarkovsky

    Day trading systems and methods are one of the most popular ways to trade Forex. Lets look at a common mistake in relation to day trading that you need to avoid to make money.
    Here is the most common day trading mistake.
    Believing the logic works
    It amazes me people do not see that the odds are against you when you day trade as the logic it is based upon is simply not true.
    The biggest mistake of all is that people think they can make money longer term day trading forex.
    So why cant you win?
    Its common sense really the data is unreliable and cannot be used.
    Think about this:
    Trillions of dollars are traded daily by millions of traders all with different investment objectives and levels of skill.
    Very few pay any attention to daily volatility (its obviously random) and daily ranges which simply are not relevant - volatility in daily session goes wherever it wants.
    Most traders accept this fact but not day traders they believe there is order in hourly or daily frames and of course there is not.
    No indicators work in short time spans
    Day traders of course use pivot points and support and resistance to enter trades and place stops and wonder why they continually get stopped out.
    Day Trading breaks one of the fundamental rules of investment
    Which is of course run profits and cut losses quickly
    Of course day traders cut losses quickly and keep them small and they of course have a lot of them!
    Day traders though cant run profits. This is alien to day trading, they are happy to scalp a few points and get any profit they can but of course these can never cover the huge amount of small losses they generate.
    The result of relying on unreliable data is a lot of small losses and a few small profits which sees them wiped out over time.
    TRY THIS TEST
    Find a day trader who can give you a real time track record of profits made in the market over the longer term say 2 or 3 years and you wont get one.
    There are many vendors selling day trading systems and they make money from selling their method to you and are not foolish enough to trade it themselves.
    They produce hypothetical track records that are done in hindsight.
    Thats not hard when you know the closing prices anyone can make money!
    The real proof is making money and the fact is day trading is not a way to do this and ask for a real track record and you wont get one.
    Get the odds in your favour
    The biggest mistake in relation to day trading is to believe that it works it doesnt and there are far better ways of making money where you can put the odds in your favor.
    Remember.
    Trading is not a sprint but a marathon. Compounding money is a powerful thing.
    Be patient and persistent
    Exercise discipline
    Always, Always use stops loss
    Protect your profits at all times.
    Accept your losses like a man. If you cant accept your losses you will become a nerverous trader.
    When in doubt stay out.

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    Default Day Trading Why You Cant Win With Day Trading!

    Url : http://www.ideamarketers.com/?Day_Tr...6&from=PROFILE

    Day Trading – Why You Can’t Win With Day Trading!

    I read about day trading systems all the time but have never met a day trader who can show me a track record of consistent profits. Why? Because day trading simply doesn’t work, if you want to know why then read on.
    1. Reliable data
    If you are trading any market with charts you need reliable data to work with and this means data over time a day is simply to short. Think about it.
    The moves I a day are totally random and you may as well flip a coin when trading.
    When trading currency or forex markets you need data that has proved reliable in the past to get the odds in your favor.
    2. Trends in currencies
    Of course there are trends in currencies because the currency of a nation reflects the underlying health of the economy and it’s the longer term trends that give you reliable data.
    3. Day trading breaks the fundamental rule of trading
    Ever heard the saying “cut your losses and run your profits”? Well, in day trading you can certainly cut your losses, but on the other hand, you can never run your profits to cover your inevitable losses.
    Transaction costs add up to and add to losses and make profits smaller.
    There is no better way to lose your money overtime than by day trading, so why do people do it?
    It sounds easy, it appeals to greed and people get duped by system sellers and vendors with persuasive sales copy.
    Of course, most of the above have never traded in their lives and make money from you by promising to make you rich for a hundred dollars or so.
    Fact is they make money from course and system sales and in many instances kick backs from brokers.
    There is no more profitable trader for a broker than a day trader.
    Most brokers in their profit and loss don’t favour in traders winning but how much commission they can make so their happy the vendor is to the only person who won’t be is you!
    If you really are still not convinced ask a day trader selling you a method to give you his audited track record of gains over a reasonable time period – Say three years and see if you get it.
    Think you maybe waiting a long time!
    Don’t day trade unless you want to lose your money.
    Sure, it can be exciting and fun (if you don’t mind losing. Me I would rather play roulette at the casino.
    Trade longer term, get the odds in your favor and give yourself a chance of making money.
    Remember.
    Trading is not a sprint but a marathon. Compounding money is a powerful thing.
    Be patient and persistent
    Exercise discipline
    Always, Always use stops loss
    Protect your profits at all times.
    Accept your losses like a man. If you cant accept your losses you will become a nerverous trader.
    When in doubt stay out.

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    Default

    Day trading is profitable too but the only thing is you need to have instant reaction on the moves because I think, day trading is good when you trade at shorter time frames and it requires immediate reaction!

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