In history there isn't any short-term daytrader warren buffet design billionaire, billionaire from forex with lowest length on transactions is 5 times and nearly 100 percent of transactions on his own account between 10 to 30 days.
But newbie traders deposits 100$ and believe I shall use 2% stop loss, that's 20 pips, I will be wealthy daytrader, Actually traders place minimum 0.01 lot, that's 1000$ so 2% is 20$ or 200 pips,
If price is 1.23 traders will attempt to guess 100 peaces of 1 cent (3rd and 4th decimal), If currency moves 2.60% in a month that's record, almost 100 percent of significant news do not move price even 1 CENT.
Almost 100 percent of egies are daytrading egies, in which they guess where part of 1 cent goes, and all of them fail (currencies do not go even 1 cent per day), plus they cant tummy 100 pips loss which is 1 CENT (leverage, not reality), plus they do not know they are placing 1000$ minimal in to market, if it moves 5% what is whole year thats 5% of 1000$ or 50$.
They'll ignore if price moves for 3 month to a single direction, or copper moving 28 month to one leadership after falling 5 years to other leadership, and as daytraders they may try hard even for 10 years to lose and guess inside 1 CENT where price will probably proceed now.
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