Discussion in 'For novice traders' started by Francmorio, Feb 16, 2018.
I just need your honest opinion, why do you think most people say forex is gambling?
I think it's because people think it's fast money buy making wild guesses, which most gambling is about. And even if we say, the "guesses" are based on analysis, they don't see the different between that and betting on football matches.
Forex trading is not gambling. But that does not mean forex transactions can not be used as gambling. It's just that this happens often not because of the existing mechanisms in the forex market, but because of the actions of 'traders' gamblers themselves. If someone is trading forex on the basis of guessing guess and counting on luck, then he is gambling. But if one becomes a real forex trader, every sale and purchase decision is made on the basis of rational analysis.
that's it. it all depends on how the traders treat trading itself. anything can be a gamble when it is not based on educative analyses. what i meant educative is not formal education, but any kinds.
Also, trading with gambling mindset means trading with higher risk than reward. While a proper trading means minimized risks based on our analysis. Because no trader would put their entire margin in a single shot...
That's a very good way to put it, bro well done. higher risk than reward. Or should I add higher chance of suffering from the risk than getting the reward itself? that's gambling.
Haha. I remembered when I was newbie in Forex, I put all my margin in a single shot, and I think you know the result, yes, I got stop out, but it is make me stronger, I am not afraid or down, I just learn and learn and now I know how to make any decision in my trading activity
wahahah first order, all out, and stop out? boy oh boy. good thing you learned and didn't give up. we keep trading and learning. never be afraid of loss, just learn from it!
Putting all the margin in one shot? Who told you that, mate? Well, at least you may build a mindset of a trader in a real business, putting a small margin for a single trading opportunity and wait for the other one in the future.
One thing to remember is that even if a trader always makes a profit in each transaction (even though in the real world there are no such ideal traders), still consider always making risk management. Even the best traders in the world describe themselves as having suffered losses and made losses a risk that must be taken into account.
As long as the results are mostly profits, in the end, you don't need to worry about losing a single trade. Remember, it's a matter of win rate ratio...
Agreed. win rate ratio. it is disappointing to see how "senior" traders motivate new traders by saying "someday, you'll have no loss". that doesn't sound like trading to me.
image forex trading as gambling is very thick in the community, especially beginners. Often we hear various opinions that appear in the community about trading that are identical to gambling, those opinions should make us want to know whether forex trading is "as cruel" as that? Why don't we learn more about forex trading?
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