If you want to make money in forex trading the first point to keep in mind is you cannot make a regular income. That’s not to say you cannot make long term profits - you can, but the e-books and forex day trading courses that promise regular profits are doomed to failure.
Forex Trading - Why You CANT Earn a Regular Income
By [http://ezinearticles.com/?expert=Kelly_Price]Kelly Price
If you want to make money in forex trading the first point to keep in mind is you cannot make a regular income. That’s not to say you cannot make long term profits – you can, but the e-books and forex day trading courses that promise regular profits are doomed to failure.
The forex markets are volatile and they produce moves each day that in theory can make you thousands of dollars – The problem is however is trying to catch these moves for profit in advance.
The myth of regualr in income from fforex markets is spread by forex day trading system vendors, however Forex day trading systems and profits are a contradiction in terms:
Day traders always lose longer term and you never see a real time track record of profits.
Why?
Because you can never get the odds on your side, as the data in short time frames is meaningless.
There are othercurrency trading systems that say that markets move with scientific accuracy and because of this you can make a regular income.
These theories are loved by the far out investment crowd and the king of the theories is Elliot wave.
Elliot wave says it’s a scientific theory and then tells you that you have to decide which patterns are correct to trade!
Anyone can see the flaw in this theory – if it’s scientific, then you should not have to make subjective judgements it should be objective!
Let’s look at some positives when making money from forex trading.
Firstly, you can get the odds on your side over the longer term and secondly, you can make massive profits.
Just keep these points firmly in mind:
1. It’s an Odds Game
Being an odds game you are never certain to win, but as the skilled gambler knows if you play with the odds you may lose the odd hand but you will win longer term.
2. You cant force profits from the market
You have to wait for the right conditions to present themselves, for your trading signals to be effective – this means waiting weeks or months on some currency trading systems.
The two points discussed above mean that you can make money from forex trading, but your profits will be in erratic time frames.
In light of the above keep this point in mind:
It is not un-common for the top traders in the world to go for months or more than a year or more, without making a profit. When you trade currencies you need to judge your profitability over years, not months or weeks.
Many vendors put about the myth you can make regular profits from forex trading, as it suits their interest – to appeal to the buyer’s greed, these guys simply sell stories and are not traders.
If you don’t believe me ask for a track record of real profits and you won’t get one.
So forget about scientific theories and making profits every week that’s not the reality of forex trading.
The good news is:
That if you play the odds when trading currencies online and take a long term view you can make big consistent capital gains over the longer term.
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Article Source: http://EzineArticles.com/?expert=Kelly_Price http://EzineArticles.com/?Forex-Trading---Why-You-CANT-Earn-a-Regular-Income&id=609274
วันศุกร์ที่ 27 กรกฎาคม พ.ศ. 2550
Forex Trading - Why You CANT Earn a Regular Income
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