WHS-PA

I keep reading about day trading and how great it is, but the fact is ask for a day trader for a real time track record of profits over a long period of time and you wont get one. Why? Because day trading is a mugs game dont believe this read on and find out. Day trading doesnt work because there is no way of predicting volatility and direction in short periods of time. Of course, day traders say they can make money, but really their making money out of you by selling systems that dont work. Wheres the track record? You never get a real time track record, however: You get always get a hypothetical track record that looks good. In fact, they very often look great, but what is a hypothetical track record? Let me explain: Its one that is d fiat currency one in hindsight, KNOWING the closing price! Now could you make money knowing the price in advance? Of course you could. My daughter could do that and shes 12, but she cant trade. So why doesnt day trading work? Two reasons: In day trading you cant predict what will happen in a day due to volatility and you dont have data that is long enough and accurate enough to work with. Currencies trade longer term and short term moves are simply random. Secondly, ever heard the phrase let your profits run and cut your losses? Well, that doesnt go with day trading. Day traders enter and more often than not the stop is to close and bang volatility takes them out, but at least they kept their loss small! Now lets look at running profits.