Are You Gambling or Trading? Think about this.

[globalforex]

If you look at forex (or any daytrading) as a job and not get rich quick scheeme, you will make a living. Not a fortune, but living. I know as I have done it with starting capital of $500 in 2002! Made only $5 per day first month, that's true, but now I trade for living. Rushing things will get you nowhere and this would be gambling. Having a great broker or an IB who can help you start is very important.

[larrykingson]

It's always good to trade the market and not gamble. If you gamble, you will end up in bankruptcy

[jeff15]

Originally Posted by larrykingson

It's always good to trade the market and not gamble. If you gamble, you will end up in bankruptcy

I didn't understand your points friend!!

[bvsadmin]

I think I was Gambling

just on the way learning trading.

[truementor]

To make money trading the forex, your trading plan must be professional and extremely disciplined. Every trade you execute must be accompanied by a well thought out plan including (1) the proper entry (2) the proper size management (3) the proper exit. Approaching the forex market this way, with a great thought out plan and intelligence will lead to greater success. Smart trading involves executing, while gambling is buying and selling, hoping that you are right. If you don't have a trading plan, then stop trading and work on your trading plan.You will be glad you did.

[daniellefr]

Not sure how can you trade and gamble at the same time... sorry... these two words are a complete opposite of each other.

[truementor]

Originally Posted by daniellefr

Not sure how can you trade and gamble at the same time... sorry... these two words are a complete opposite of each other.

Gambling is buying or selling a currency pair with the hope that you are right. But a professional knows when to cut the losses. A gambler allows the losses to run with the hope that the market might turn. If you enter a trade without knowing exactly when to exit that trade, whether positive or negative, then you are gambling. If you enter a trade, knowing precisely when to exit, whether negative or positive, then you are trading and not gambling.

[Dukes]

This sounds like it's right out of Benjamin Graham's mouth. He talked a lot about gambling vs trading.

Gambling and speculating will lose you a lott of money in the long run

[mtuppers]

well, yes Gambling depends what you think.

For me Gambling is you do not know what you are doing and hoping to win big.

and for trading, regardless what kind of system or indicators, you should know them inside out. the more you know the better trader you well become.

for who ever using meta4 platform, you may want to have 4TF .... Bar. it will help your trade to be better.

[FOREXSIGNAL]

discipline is the main thing one have to aquire to excell in the forex markets.