Author Login | Popular Articles | RSS Feeds | Sitemap

Home | Finance


Day Trading Forex Currency, Hype, Lies and TANSTAAFL

By: Richard Keir

Copyright (c) 2006 Richard Keir

Day trading Forex currency is all about making big money. Some investors have found it quite easy to make a large amount of money by day trading the Forex currency markets as they change hour by hour. But, you see that "some" in the previous sentence? What that means is that a lot of people don't make a dime and even lose a lot of money.

Usually a Forex trading system course is hyped as an easy way to make a bundle. Get your Forex trading secret and your Forex trading tool and you're golden - day trading Forex currency for vast riches. Lies. What you tend to find is that there isn't any Forex trading secret, it's the same old tired stuff repeated over and over on sales page after sales page, generally by so-called "experts" who aren't. And that so-called Forex trading tool or software? Another lame canned system that promises but won't deliver.

And now, what's TANSTAAFL? Online and offline this is the antidote to the big con. There Ain't No Such Thing As A Free Lunch. Fast, easy, no work, instant riches. Doesn't exist. Absolutely anything that is worth your attention is going to cost you effort, time and probably money. Anything else is a pack of lies, hype or deceptive sales yap.

You will probably not make much money day trading Forex currency. In fact, you will probably lose money. Unless you are really smart about how you do it and who you listen to. Sorry, but that's the real truth. There is no secret, no magic tool, no perfect Forex day trading strategy.

What you're going to find are a bunch of Forex trading systems, courses, techniques and tools that purport to tell you just what to do and when and how to do it. If you buy into one of these things - a ready-made off-the-shelf turnkey Forex trading system course, you're going the wrong way. This is just the same old tired search for a magic, easy, thought-free and work-free solution that lies behind every successful scam. If it were that easy, we'd all be rich already, wouldn't we? If there really were a genuine Forex trading secret, tool or strategy that would make you rich, do you actually think anyone would be stupid enough to sell it? Think about it when you see one of those hyped sales pitches claiming it's easy and quick and the money will be rolling in.

In the Forex currency market, despite all the nonsense about leverage, timing and signals - if you test it out, you'll find most signals are little better than random noise and that trying to time the market will usually end up with you experiencing consistently bad timing. Canned, simplistic approaches to a complex market just don't work.

How about technical analysis like you'll find in many a Forex trading tool? It's been said (though not by the "wizards" selling technical analysis systems with some spiffy name) that of all the major markets, Forex is the least amenable to technical analysis.

Even the basic wisdom of "buy low, sell high" needs to be seen within a special context when you start working at day trading Forex currency.

If this seems overly discouraging overall, you need to remember the sheer amount of hype and outright lies that are prevalent in this area. You need to be prepared to be coldly realistic. You absolutely have to think of Forex as a serious, complex real business. One that requires close attention and serious study. You need to be careful getting into it, careful whose advice you take, and careful about learning as much as you can from a real expert.

Certainly it's possible to make money. But, your chances of making money by day trading Forex currency will be vastly increased if you are wide awake when you get into it. Stop dreaming about fast easy money with no work or effort. Get to learning the realities so you can develop your own Forex trading strategies, ones that work for you. It will take time and effort, but then, maybe Forex trading will truly be your road to financial freedom.

Article Source: http://www.articlesnatch.com

About the Author:
Richard is a researcher, writer, programmer and marketer and he's tired of all the hype. Discover the realities of day trading Forex currency now

| Print | Ezine Ready | |

Recent Finance Articles

  • Why Honesty Counts When Requesting Auto Insurance Quotes By: Jim Jenkins - There are many auto insurance companies around the country that have begun offering incentives for choosing to take out a policy with them. With the increasing amount of online insurance quotes that are being viewed, it is wise to know how accurate these quotes that you receive on the internet are. Here are some good tips for having a more complete understanding of car insurance online quotes, as well as making good decisions on policy purchases. Your quote on car insurance will only be as accurate as you make it.
  • Find Stocks Which WILL Double Your Money By: Matthew Bettison - It's an investor's dream: A stock with the potential to double in price. Finding these stock market jewels before they double is difficult but not impossible. According to data provider Capital IQ, there are almost 6,700 stocks that trade on major U.S. exchanges, and less than 100, or 1.4%, have doubled in the past year. Still, this rare find is worth hunting. Recently BusinessWeek asked fund managers and other market experts to pick stocks that they believe will provide 100% returns in the next couple years.
  • Top Academic and Admission Strategies for Colleges By: Karen Bolton - With the rising cost of college, it is important to utilize as many cost cutting strategies as possible. Let's explore some top academic and admission strategies to help reduce the cost of college. 1.Career Planning Career planning is often overlooked during the college planning process. However, this is one of the most important decisions that students will make. Without proper career planning, many students take 5-6 years to complete a degree. Many students receive degrees in declining growth fields or fields with a surplus of applicants and cannot find employment after graduation.
  • Thailand real estate By: Forbest Forbest - Buying a house in Bangkok Buying a house / property in Bangkok is easy. Those who are planning to buy properties in Bangkok need not look further than Forbest Property, Thailands number one real estate agent company. The company has the largest real estate database in Thailand that includes listings of both affordable and luxurious properties for sale in Bangkok. By using the Bangkok Property Search one will be able to find a wide range of properties in Bangkok.
  • Picking A Quality Forex Expert Advisor By: Tim Rohrer - There are a ton of Forex expert advisors on the internet today, in fact hundreds of them. It almost makes it impossible to identify the expert advisors that actually work. With so many choices and so many different Forex trading systems on multiple currency pairs there has to be a solution to identifying the right trading robot. The first thing one must ask themselves when looking for a quality Forex trading system is, what type of past performance does the trading robot have?
  • Fitting your home office into a small space By: Directline - Not everyone has space for a large home office, but even a small space can become home to a comfortable compact home office. A “pocket office” can be easy to set up and need not take up space or lead to a major remodel. One underutilised space which could double as the perfect office is the typical built-in cupboard. The hollow in the wall can be rebuilt to hold a built-in work surface, complete with bookshelves and filing spaces, and when not in use the cupboard doors can simply be closed to hide the entire office.
  • First time wallpapering tips By: Directline - Hanging wallpaper is not as difficult as it looks, as long as you have some help and follow the basic guidelines, and the effect is well worth the effort. Taking proper precautions before you start will avoid the need to phone up the professionals to fix a botched job, or worse a call to your home insurance providers with a sad tale of fallen ladders, smashed windows, glued filled carpets and so on...and risk a raised home insurance premium or the costs of a total cleanup!
  • Fireplace decor suggestions By: Directline - If you find your fireplace is a hassle, a messy and unnecessary addition to your living room or kitchen, then consider using it in one of these innovative ways, keeping your home clean from ash and dust. If you decide to completely close up, or remodel, your fireplace, alert your home insurance providers to any changes, so they can adjust your policy accordingly.
  • Tips For How A Property Manager Can Set The Price When Renting A Condo Unit By: Christine OKelly - While it is easy to pick a random number out of the air, add a few zeros, and set that as the price for renting a condo unit, it isn't the most profitable strategy. If a property manager or owner prices a condo rental too high, it will be difficult to find renters. Pricing it too low will also cause problems because the owner can end up losing money, essentially paying the renter to live in the condo. The answer is finding a happy medium between too pricey and too cheap to ensure a successful rental for all parties involved.
  • Construction Equipment Financing -- Keeping An Eye On Cash Flow By: Christine OKelly - To prevent from going under, businesses need to watch their cash flow carefully and keep it at a healthy level in order to stay successful in the ups and downs of the economy. This money needs to pay for basic expenses such as employee wages as well as construction equipment leasing and additional supplies to keep your company moving in a positive direction. If you want to keep your bank account functioning properly, examine the expenses, construction equipment leasing, and income you already have and adjust them accordingly.

Search Ebay

Still can't find what you are looking for? Search for it!


Submit Your link to the Open Link Directory Project

Copyright 2005-2008 MJE Sales, LLC. All Rights Reserved.
Proud member of the ArticleCkr Search Network Search Network!
ArticleSnatch.com is free for both publishers and authors to use and is supported entirely from advertising revenue.
Use of our service is protected by our Privacy Policy and Terms of Service.