Are You Gambling or Trading? Think about this.

truementor · #1 12-09-2008, 09:11 AM

Most people who make a go at this demanding
profession of trading fail. And they fail miserably.
This hard, cold reality is due to several reasons,
but I'd like to point out one of the most damaging
of all those reasons. What has guaranteed the
failure of countless trading novices is the inability
to see the difference between a "gamble" and a
"professional trade" .

If you really want to make consistent money in the
forex market, your methods had better be professional
and extremely disciplined. No guess work. If you want
to be entertained, it is better and cheaper to go to
the movies.

Smart trading involves executing a plan. Do you have
a plan? If not, then the hard truth is you are gambling.

Gambling is nothing more than buying or selling with the
hope that you are right. So in my opinion, it is very very
important that you trade smart. Have a plan and execute
that plan. You can never lose sight of this fact: in order
to win this game of forex trading, you must last.
Those who trade smartly last, and those who gamble don't
last.

Every trader must learn to recognize which is which. In
your trading style, are you gamling? Or Are you trading smart?

Education is the Key to your success. Get professionally trained,
and mentored and you will last long in this lucrative profession.

ExecutiveIncome · #2 12-09-2008, 09:45 PM

In a sense, trading is gambling. The difference is trading involves skill, forecasting & general market savy.

truementor · #3 12-13-2008, 03:22 PM

Executiveincome, I disagree with you.
Trading is not gambling. Trading is a business.
I cannot learn how to gamble and beat the machine.
But I can educate myself in trading and win 75% of
the time. Discipline is required. So in my opinion those
who gamble in forex trading will always lose and those
who have a reason for why they are taking a trade and
are disciplined enough to trade their plan will win and last
a long time.

Treat your trading as a business and you will take the time
to educate yourself.
Treat it as gambling and you will always be on the loosing site.

ttrouble · #4 12-16-2008, 05:10 AM

To became a good trader it is need to think about the forex as about job, not gambling.

I think that if you will try trade like gaming you will loose your money very soon.

Forex not a game, it's serious market.

truementor · #5 12-16-2008, 01:01 PM

Quote:

Originally Posted by ttrouble

To became a good trader it is need to think about the forex as about job, not gambling.

I think that if you will try trade like gaming you will loose your money very soon.

Forex not a game, it's serious market.

ttrouble, you are so right. When I started, I was so afraid of the market, I traded demo on and off for 3 good years, before deciding to go with a live account. Today it seems many don't want to pay the price of education. If you don't pay the price to get educated, you will pay the price with your live account and hard earned cash.

Get educated and find a mentor. A mentor can really help you gain the discipline that is required to become a successful trader.

anjali · #6 12-17-2008, 03:51 AM

Yea even i agree to this that trading is a highly professional job where we require intelligence, analytical mind, strategies and skillful brain. We cannot go blindly here. And in gambling there is no direction just a blind walk.

nicesurf · #7 12-17-2008, 05:59 AM

If you can not make profit in forex, meaning that you are gambling.

jeff15 · #8 12-18-2008, 11:11 AM

Quote:

Originally Posted by blueonline

For having constant profit in the Forex market, knowledge and also capital are both required and one without the other would be insufficient.

Absolutely true friend. Knowledge and money both run together in this market.

fxtrendline · #9 12-18-2008, 12:18 PM

that's right gambling and trading is different, what's the different ? knowledge is the different , trading involving analysis , imagine you'll build a condo , without analysis first regarding cost ratio etc that's a gambling

anjali · #10 12-24-2008, 05:25 AM

Quote:

Originally Posted by fxtrendline

that's right gambling and trading is different, what's the different ? knowledge is the different , trading involving analysis , imagine you'll build a condo , without analysis first regarding cost ratio etc that's a gambling

Thats right!!! If people combine forex trading with gambling then they are actually not trading or have very less knowledge.

Regards