Forex day trading signals are those elusive screams of "buy now" and "sell now" to make money when trading foreign currency on a very small time frame.

In what other business would you expect to make a lot of money in just one day? In just a few hours? Well, if you're not already a forex trader, now you'll understand the lure of day trading and why so many people try with mixed levels of success.

Over recent months the market has become swamped with various ebooks and software programs telling you how to do this. I wonder how many of them can offer real proof that their system works however?

When you are dealing in foreign currency, stocks and shares or any volatile market you are basically gambling on prices going up or down, and knowing when to buy and when to sell. Gaining a trend over the course of a month is much more accurate than judging it over a day, but a month is a long time in Forex and opportunities can be missed by waiting too long. I would suggest though, that any "trends" used to generate signals over a day are actually matched by guesswork. To think that you can predict which way a currency will go over the course of a few hours is quite a leap of faith.

Over all a trader will make losses and wins, the trick of course is to have more wins than losses, but in a day you are illegally to yield enough profits to keep you afloat when you are running up losses. I have heard from a broker that day traders always make a loss over all. Whilst it's true that software packages give you a big edge when trading in Forex and can help with day trading, there is not a way for even a machine to guess accurately what's going to happen in a short space of time.

Best advice seems to be get an online trading account and software to make life easy, and then run a demo account until you are confident enough to try with your own hard earned cash.

If you are new to Forex then I strongly recommend getting a knowledge of currency trading before you start, there are several ebooks on the market and printed books in the stores. After you have enough knowledge why sweat at making it work and go through the learning curve when you can buy a package to give you the buying and selling signals? You need to have the knowledge of what the software is doing, but it saves so much time I can not see the justification in not using it as long as you try it with a demo account.

Too many people are looking to make a fast buck online and are not willing to put in a little preparation first.

Also, because of all the claims put out there claiming that you can make thousands of dollars a day with Forex, people expect to make it. Be happy to start with a few dollars a day! You can then build this up – be profitable first and then build knowing you are doing so one a good foundation. Once again, beware of false prophecies claiming their Forex day trading signals will make you thousands – more than likely they will not. Do accept though that was done correctly, Forex could change your financial future.



Source by Paul Turner