Forex = gamberling argument
I have seen this question come up many times all over the internet,
This is how i see gambling
Gambling is a straight forward event were somebody picks up a coin tosses it and the
And the result’s are 50% it lands on heads or tails
you can choice to pick a stock or forex pair price and apply this strategy, that is called gamberling the odds of success are the same a tossing a coin
many people who just start out in forex if they are honest apply this strategy and because they loos there money they moan and grown on the internet
I started looking into forex/stocks in late 2006 as a different source of income, i have always understood that JOB = Just Over Broke and im just not the sort of guy to except that. When I started out in forex like many i opened a demo had 1 or 2 wins in my first trades not really understanding how or why i got those wins I carried on and my success rate was the same as tossing a coin
With this in mind i set up a live account thinking well its ok it will all get better when i start with real money im a trader right
How wrong was I
My £1000 pot was blown in a day,
I had no clue what I was doing I just thought about the amount of money that was possible to be made, not how am
I going to make it or what happen when a trade goes against me
at this stage you have 3 options
1. Quit
2. Do exactly the same thing again and loos playing the numbers game
3. Educate your self
Some people I would imagine would get scared and run away I almost did, I just had news I was loosing my job due to the financial crises so in the current time option 2 was taken away from me anyway
When I lost my job I had a lot of time on my hands, for 6 months I eat slept and **** Forex a couple of routes i went down were a waste of time like Automated robots, Forget them if you cannot trade successfully nobody or nothing else is going to do it for you, i knew in order for me to succeed I need to understand what i am doing inside out,
I don’t make a habit of posting stuff on the internet because in my opinion people who do post stuff 90% of them a re looking for answers they just ant going to get, after all 90% of tuition on forex is crap
If you are want to succeed you will need to learn what information is useful and what info is crap always be sceptical until you try it your self, after all what might work for some one else might not work for you because of your personality
Some people like risk
Some people don’t
Your personality will crush most strategies, mine did, this is why it is important to come up with your own and not rely on others
Going back, for 6 months 18 hours every day 7 days per week trying new stuff out amending my strategy looking at it from the worst prospective adding fall short’s ect.
Believe me when you have a family, committing yourself to anything for 18 hours per day is a strain, im lucky i have a very understanding partner, but even then it caused arguments
Anyway back to succeeding i recommend any one who is just starting out to take PRICE ACTION seriously, it works for me and no way could
I trade without knowledge of it, even if you want to cover your charts in pretty indicators don’t forget the Price
Business plan very important- your strategy along with money management is what will make you or break you
No strategy or money management = disaster
Practice= you cannot drive a car straight away after reading a book the chances of doing this are against you
I have been live now for 3 month and so far so good, it might be that I will crash and burn again some day in the future And i will feel a bit of a Pratt when i look back at this article, But what I do know is I have give it the best chance possible by educating Myself and learning by my mistakes
I’m still learning and I don’t want to perceive myself as a know it all, some people may learn quicker than me some longer but its only education on the markets that will open doors for you, or me anyway.
Happy Trading
I have seen this question come up many times all over the internet,
This is how i see gambling
Gambling is a straight forward event were somebody picks up a coin tosses it and the
And the result’s are 50% it lands on heads or tails
you can choice to pick a stock or forex pair price and apply this strategy, that is called gamberling the odds of success are the same a tossing a coin
many people who just start out in forex if they are honest apply this strategy and because they loos there money they moan and grown on the internet
I started looking into forex/stocks in late 2006 as a different source of income, i have always understood that JOB = Just Over Broke and im just not the sort of guy to except that. When I started out in forex like many i opened a demo had 1 or 2 wins in my first trades not really understanding how or why i got those wins I carried on and my success rate was the same as tossing a coin
With this in mind i set up a live account thinking well its ok it will all get better when i start with real money im a trader right
How wrong was I
My £1000 pot was blown in a day,
I had no clue what I was doing I just thought about the amount of money that was possible to be made, not how am
I going to make it or what happen when a trade goes against me
at this stage you have 3 options
1. Quit
2. Do exactly the same thing again and loos playing the numbers game
3. Educate your self
Some people I would imagine would get scared and run away I almost did, I just had news I was loosing my job due to the financial crises so in the current time option 2 was taken away from me anyway
When I lost my job I had a lot of time on my hands, for 6 months I eat slept and **** Forex a couple of routes i went down were a waste of time like Automated robots, Forget them if you cannot trade successfully nobody or nothing else is going to do it for you, i knew in order for me to succeed I need to understand what i am doing inside out,
I don’t make a habit of posting stuff on the internet because in my opinion people who do post stuff 90% of them a re looking for answers they just ant going to get, after all 90% of tuition on forex is crap
If you are want to succeed you will need to learn what information is useful and what info is crap always be sceptical until you try it your self, after all what might work for some one else might not work for you because of your personality
Some people like risk
Some people don’t
Your personality will crush most strategies, mine did, this is why it is important to come up with your own and not rely on others
Going back, for 6 months 18 hours every day 7 days per week trying new stuff out amending my strategy looking at it from the worst prospective adding fall short’s ect.
Believe me when you have a family, committing yourself to anything for 18 hours per day is a strain, im lucky i have a very understanding partner, but even then it caused arguments
Anyway back to succeeding i recommend any one who is just starting out to take PRICE ACTION seriously, it works for me and no way could
I trade without knowledge of it, even if you want to cover your charts in pretty indicators don’t forget the Price
Business plan very important- your strategy along with money management is what will make you or break you
No strategy or money management = disaster
Practice= you cannot drive a car straight away after reading a book the chances of doing this are against you
I have been live now for 3 month and so far so good, it might be that I will crash and burn again some day in the future And i will feel a bit of a Pratt when i look back at this article, But what I do know is I have give it the best chance possible by educating Myself and learning by my mistakes
I’m still learning and I don’t want to perceive myself as a know it all, some people may learn quicker than me some longer but its only education on the markets that will open doors for you, or me anyway.
Happy Trading
