Forex Scalping - Common Mistakes That Lead to Equity Wipeout By Samuel Leslie Berkovits

Forex scalping is popular, as traders want to limit risk and build small regular profits to generate a second income and you will see a lot of people recommend this method of trading online but what mistakes must you avoid... There is only one real mistake that traders make and that's believing they can make money out of it - you cant and its quite obvious why if you think about the logic its based on but for now, lets dismiss all those gurus and mentors which tell you that you can win and produce track records to support their claims. It's easy to dismiss any track record when its got this written on it! "CFTC RULE 4.41 - 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 shown". Well that doesn't really make anyone feel confident about following the scalping systems! The logic scalping on doesn't make sense: Millions of traders all different trading around the world and you have to fathom out what this vast diverse mass is goimng to do on an hourly or shorter chart - its simply not possible and that's why you shouldn't do it. Years ago floor traders could scalp because they had an advantage of receiving news quicker and being able to act quicker - today no such advantage exists, with everyone getting the same information at the click of a mouse. There is no edge anymore and you will lose. If you want to trade forex successfully trade longer term time frames where at least you can get the odds in your favor and win. This method of trading is far less risky, than many traders imagine and you can master it easily, if you have the right education and mindset. If you want to learn forex trading get the right education and leave forex scalping well alone. NEW! 2 X FREE ESSENTIAL TRADER PDFS ESSENTIAL FOREX TRADING COURSE For free 2 x trading Pdf's, with 50 of pages of essential info on the Best Forex Trading Systems visit our website at: http://www.learncurrencytradingonline.com. Article Source: http://EzineArticles.com/?expert=Samuel_Leslie_Berkovits