Day Trading Course

If you are thinking of buying a Forex day trading course think again – because you will never make money with it and you should either choose a course which focuses on swing trading ( taking trades for a few days to a week) or long term trend following (which takes trades which last for a week or longer). Now lets outline the reasons why you should never use a day trading course.

The Claims Made by Forex Day Trading Courses

In terms of Forex scalping courses, there sold on the basis that you can make a few pips per day and pile up a steady regular income and in addition, the claim because trades re opened and close quickly, the risk is low and the rewards are high. Most Forex day trading courses claim you can e trade with 90% accuracy and they even claim, you can predict what the Forex market will do in advance and both claims are selling hype and not true.

Of course you never get an audited track record of the systems gains – all you get are simulations going backwards but its easy to make money when you know the closing prices. Other Forex day trading vendors course try and post what they claim are real statements but mostly the statements are altered or omit, key information like unrealized losses etc.

The above all appeals to the greedy or naïve trader but all the claims are false and any professional trader know, there not true - so let's outline the reality of day trading.

Why Day Traders Always Lose Money

All volatility in short term time frames is random – you can't get the odds on your side and that means losses.

You cannot win 90% of the time and the best traders in the world only win 30 – 50% of the time, so a vendor selling a course who claims he can make over 90% is lying.

If you can only win 30 – 50% of the time, then you can't make money because your winners will never cover your losers! With transaction costs added on to profits and losses, you will soon get wiped out.

The idea that you can predict where prices will go with mathematical formulas is rubbish - because Forex markets don't move to equations. Humans make the price of any currency and they can't be fitted to any equation, because there creatures of emotion not creatures of logic.

Day Trading a Lot of Effort and Losses

I see traders spend hours a day trying to beat the market in the short term with Forex trading strategies which could work, if they traded longer term time frames but all they do is take a good system and apply it in random prices and lose money. Forex trading training in terms of scalping and day trading is a waste of time and effort,t so avoid this method of trading or any education related to it at all costs.

Final Words

If you want to make money look to swing trade or follow long term trends and you will make a lot more money and make a lot less effort.