Intraday Trading Systems

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					Intraday Trading Systems, Do They Really Work?
The problem lies in the fact that every day there are numerous
infomercials on late at night that say Forex trading can make you rich
almost overnight. These infomercials usually have clips of people
claiming they made some silly amount of money in a few hours or something
like that.
Such infomercials only serve the purpose of trying to sell you an
intraday trading system, usually in the form of a piece of software as
this has a higher perceived value than most other products. They rarely
tell you in the infomercial however, how much this particular software is
going to cost you. The usual technique is to invite you to a free seminar
so they can really sell you the dream when you get there and then spend
all day pitching to you about their revolutionary software in an effort
to get you to buy it, believe me I know having been to one of these
Most intraday trading systems are in the form of software and the usual
mode of employment is to watch the screen while four arrows change colour
from red to green. When all four arrows change to green it's time to
enter your position. Now there is some sense in trading when all the
arrows are green indicating the price trend moving in one direction, the
fact that people are expected to do this with no prior knowledge is
ridiculous. Chances are you will make some money like this but expect
your losses to far out weigh the profits.
If you had designed an intraday trading system that could make you money
virtually on autopilot, as many of these system owners claim, what would
you do? Keep it a secret and make vast amounts of money using it? Or
perhaps you would sell it to as many people as possible so it soon
becomes ineffective? I know which one I would choose.
Now I'm not saying that intraday trading does not work. It does, but the
systems out there pale into insignificance when all you need is some
basic training in technical analysis and a little experience on how to
spot the type of movements you should be trading in.
The best way to learn trading is to just concentrate on one pair, this is
the best intraday trading system I can recommend. This way you will get a
real feel for the trading action and it will be much easier to tell if
anything is going to happen.
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