Here we are going to look at forex Scalping methods and how they aim to achieve big consistent profits from day trading regularly and looking to accumulate small profits each day to build huge profits overtime. Let’s look at forex scalping in more detail.
Forex scalping is more popular than ever and there are numerous forex trading systems
and e-books, which claim it works but none of them work, (we will return to this in a minute) as the logic behind forex scalping is totally incorrect.
Why Forex Scalping Can NEVER work longer term
The reason it doesn’t work and never can is simple to understand if you think about it – you need valid data!
Consider this:
Each day trillions of dollars are traded by millions of forex traders and the total of all these opinions come together and give us the price.
The thought that you can tell what all these millions of people will do, in just a few hours is laughable.
You can’t!
Volatility can and does take prices anywhere in short time periods and support and resistance levels are meaningless. If you have no valid data, you will lose and that’s EXACTLY what happens to people who try forex scalping or day trading.
You may be saying:
I have seen the proof it works and seen track records presented by forex scalpers and yes you have – but their NOT real!
See the standard CFTC disclaimer below and you will see why these track records cannot be trusted:
“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 show”.
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