Forex Scalping Systems - How to Make Huge Profits
Forex scalping systems are over the net and it's one of the most popular ways for novice traders to get into Forex trading - but how do you find a system that can make you big regular profits? Let's find out.
Forex scalping systems don't work and never will. Before we go into the reasons why you will always see the disclaimer below on any system sold that claims to have made money.
"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".
Now - anyone can make money in hindsight but forex trading is a bit more difficult you have to trade not knowing the closing price!
Most vendors who sell forex scalping systems simply make track records up that appeal to the greed of the buyer. The buyer takes the loss in the market and the vendor as a guaranteed profit in his pocket.
Day trading doesn't work and it never will because all short term volatility within a day or a few hours is random and any day traders should look at standard deviation of price in daily time frames.
You have countless millions of people all trading with different motivations and personalities and this huge diverse mass can do anything (and they do) in a short time frame.
As volatility is random this means you cannot use support or resistance levels because they mean nothing in short time frames and if you can't use them, you cant get the odds in your favor and will lose - it's as simple as that.
If You Want to Win at Forex Trading:
You need to get the odds on your side and that means using valid data and getting the odds on your side. You can swing trade or you can forex trend follow the choice is yours but please forget day trading or forex scalping systems - they don't work.
Let me know if you find a forex scalping system that has a real track record, I have been looking for over 20 years and have yet to find one.
by Monica Hendrics
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