Forex Day Trading and Scalping Systems - A Great Way to Wipe Your Trading Account Quickly

I see day traders and forex scalpers selling trading systems online claiming profits but look at the track record closely and you will see, there not real at all - In fact they have never been traded and the profits are paper ones - they all have this disclaimer on them....

"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".

Umm, so they all have the above on which means, they have never been traded in the brutal hard world of forex trading and of course, trading without knowing the prices ( rather than simulating backwards knowing them) is the real world of trading and much harder.

Day trading doesn't work however marketing organizations create great copy to sell the concept and the nave or lazy trader, thinks he is going to make a regular income, with 90% accuracy etc.

He sits back with a cold beer and thinks he will never have to work hard again, of course he gets rewarded but - with an equity wipe out.

When I was a broker, we loved day traders - why?

As you probably know most brokers take the other side of the trade, so they win when the client losses.

No day trader EVER won when I was there and I saw maybe 20,000 client accounts. Also, the other myth is forex brokers hunt day traders stop - nope. They don't need to bother, the day trader always has his stop within normal random volatility so the market takes him out, the broker doesn't need to help.

So why doesn't day trading work?

Think about the huge mass of people who trade each day and they all have different skills, trading systems, and aims and to think, you can work out what this diverse group, of emotional beings is going to do, in a few hours is futile and dommed to failure.

All volatility is random in daily time frames so how on earth can you get the odds on your side?

You cant - so don't attempt it.

If you want to win at forex trading, learn how to trade longer term and you will find the data helps you calculate the odds and gives you a chance to win and win big gains.

If you want to win at forex trading, you need to trade the odds - so forget day trading and scalping, trade longer term and enjoy currency trading success.

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Forex Demo Account - The Essential But Deadly Truth About Trading Forex Via a Demo Account

The bottom line is that Forex is a very powerful tool. With leverage as high as 200:1, taking a cash position in the market can yield both huge rewards and of course catastrophic losses. For this reason the only wise decision is to trade a demo account - an account with fake money. This means that you can gain some experience with Forex and test market theories before you commit real cash to a position. Consider it a training ground.

Now most every market expert will agree that a demo account is essential for those starting out in the Forex for the first time. While this is true there are some real dangers that can be deadly to your trading career.

False Security

Demo accounts can be a bit too cushioning from the hard and fast realities of real time trading. This is because there is no emotion involved.

As you may or may not know, the level of emotions during your first live trade - or your hundredth for that matter - are astounding. You will swing through fear to greed, pleasure, to pure terror - all within mere moments of each other. Very few other careers can have this kind of impact on your psyche like trading can. All of this to say that you will never know the emotional upheaval that you will experience until you go live. And then you will have to contend with those fears; you will have to learn to make objective decisions during an avalanche of emotions.

Timing Is Everything

Second is the fact that demo accounts do not provide feeds with the same response time as live accounts. Providing that level of service is a premium that is only reserved for those who have paid the brokerage fees and have their cash on the line. Plus the demo trading platform is where most brokerage services beta test their updates. This means that the system can be glitchy or non-operable depending on how much experimentation is going on.

Wisdom would dictate that you practice trading the Forex on the same platform you intend to use when going live. Believe me when you are making that first live move, there will be confusion over issues you thought you understood, and fear will be adding to that confusion.

Finally, even the best trading system can be ruined by your emotions, which is why you use a Forex demo account - However you may want to consider using a trading robot who not only knows profitable trade signals, but also trades 24/7 without any emotion. Find out more - and enter to win a 1 on 1 free consultation with a millionaire trader... Click Here > http://ForexTradingRobot.info

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Best Forex Trading Software, Forex Funnel!

Forex Funnel is the newest in a long line of automated trading programs designed to make currency trading easier and more profitable for yourself. Now considered one of the best Forex trading programs, it is making some serious waves as of late.

When it comes to currency trading, most people will feel very nervous about jumping in. And they would be justified in feeling that way since the Forex market is notoriously complex and newbies can easily be burned.

Recent years have seen the release of software that can automate trading but doesn`t cost the bank. Forex Funnel is considered a rival to some of the best Forex trading programs available, that is surprising as it only costs a twentieth the amount that they do!

Automated trading software works by predicting profitable times to trade. The best Forex trading decisions can only be made by quick decisions, this is facilitated more so in computerized systems than anywhere else. Changes are measured in what`s known as pips, and no, it has nothing to do with the ones you find in fruit!

Released only a few months ago, Forex Funnel got me all excited. Having bought a copy i was eager to see how it performed. The same developers that are behind Forex Tracer are behind it, so i naturally expected some juicy profits. The main interface has been improved, a good start.

When you install Forex Funnel you will get that exciting money-making rush. While the thought of the best Forex trading deals making you millions are unavoidable, start on a no-risk demo account first, to get a feel for the market.

After trading for a day on a real account you should see results. If you invest only $300 you can see a profit of $50 overnight! This is an exceptional return on you money. Bear in mind that the more you trade with the more you will profit when you win a trade.

Currency trading is difficult at best, but software like Forex Funnel makes it a lot easier. If you want to exercise the best Forex trading decisions automatically and you don`t know a lot about trading, then this is for you. But it always helps to read up on currency trading to get an idea, before you hop right in.

Forex Funnel is a leader in it`s field. Make sure to visit Best Forex Trading for more info on all things Forex!

AFP - Lehman Brothers declared itself bankrupt Monday and Wall Street rival Merrill Lynch had to be taken over in a new financial earthquake that sent global markets into a slump.

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