The issue lies in the fact that every day there are many infomercials late at night who say that forex trading can make you rich overnight. These infomercials in common have clips of people claiming they made a stupid amount of money within hours or something like that.
These infomercials only serve the purpose of trying to sell you an intraday trading system, commonly in the form of a piece of software that has a higher perceived value than most other products. They rarely tell you in the infomercial, however, how this software is especially going to cost you. The simple technique is to invite you to a free seminar so they can really sell dreams when you get there and then spend all day pitching to you about their inventory software in an effort to get you to the buy it, believe me I know having been to one of these seminars.
Most of the intraday trading systems are in the form of software and the usual mode of working is to look at the screen for four arrow color change from red to green. When the four arrow turns green, it's time to get into your position. Now there is a sense in negotiating when all are green arrows indicate the price trend is moving in one direction, the fact that people are expected to do so, without any prior knowledge is ridiculous. Chances are you will make money like that but expect your losses to carefully balance the benefits.
If you had designed an intraday trading system that you could make money almost on autopilot, like many owners of these systems claim, what would you do? Secrecy and make huge amounts of money to use? Or maybe you would sell it to as many people as possible so that it will quickly become ineffective? I know that I would choose.
Now I'm not saying that intraday trading does not work. It does, but there are systems insignificant when all you need is a basic training in technical analysis and some experience on how to identify the type of movements, you should be trading in.
The best way to learn the trade is to focus only on one pair, this is the best system intraday trading, I can recommend. This way you get an idea of the real commercial action and it will be much easier to tell if something will happen.
These infomercials only serve the purpose of trying to sell you an intraday trading system, commonly in the form of a piece of software that has a higher perceived value than most other products. They rarely tell you in the infomercial, however, how this software is especially going to cost you. The simple technique is to invite you to a free seminar so they can really sell dreams when you get there and then spend all day pitching to you about their inventory software in an effort to get you to the buy it, believe me I know having been to one of these seminars.
Most of the intraday trading systems are in the form of software and the usual mode of working is to look at the screen for four arrow color change from red to green. When the four arrow turns green, it's time to get into your position. Now there is a sense in negotiating when all are green arrows indicate the price trend is moving in one direction, the fact that people are expected to do so, without any prior knowledge is ridiculous. Chances are you will make money like that but expect your losses to carefully balance the benefits.
If you had designed an intraday trading system that you could make money almost on autopilot, like many owners of these systems claim, what would you do? Secrecy and make huge amounts of money to use? Or maybe you would sell it to as many people as possible so that it will quickly become ineffective? I know that I would choose.
Now I'm not saying that intraday trading does not work. It does, but there are systems insignificant when all you need is a basic training in technical analysis and some experience on how to identify the type of movements, you should be trading in.
The best way to learn the trade is to focus only on one pair, this is the best system intraday trading, I can recommend. This way you get an idea of the real commercial action and it will be much easier to tell if something will happen.
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