Giving up on Forex. Any last chance advise?

[cornellj]

Originally Posted by metal

I dont have to read anyone's posts. There is no difference between forex and gambling. Both have an unpredictable outcome. Remember the old Shakespear addage about the name and the rose.

If trading forex is gambling to you, my suggestion is you should reconsider doing it. If you do not want to be a "gambler" take the previous post's suggestion and find a another job(you do not consider forextrading as a job). There are those for whom Forextrading is a highly successfull career who take exception to you calling them gamblers. The fact that you are disillusioned does not make everybody else wrong. In my strategy I never risk more than 1% of my equity(that is not gambling). I make a handsome profit combining 1% of my equity and the volatility in prices to my advantage. I do not consider what I do gambling.

This Market offers opportunities to make profits to Banks,Brokers, Marketmakers and the likes of me, the small trader, using my own funds to make a good living for me and mine.

In the words of one of the most successfull investors ever,"Risk comes from not knowing what you are doing."

[MickMason]

Originally Posted by metal

I dont have to read anyone's posts. There is no difference between forex and gambling. Both have an unpredictable outcome. Remember the old Shakespear addage about the name and the rose.

Did you mean to say '.....between trading and gambling...', forex is a market.

Metal, the clue is in the name, trading = trade, gambling = gamble. I know, subtle isn't it, right up there with chalk and cheese!

Trading forex is the ultimate retail business, it's simply buying and selling a product and making a % profit. There is very little overhead, no expensive retail premises, no stock, no staff, no advertising, no hefty insurance premiums, no pilferage, it's every retailers dream, and if you work from home there's no travelling expenses or hours spent in traffic jams!

Just like any retail trade there will always be the reckless who want to make a fast buck in a business they know nothing about or have no experience of, they make impulse purchases without any planning or thought, those are the gamblers. An astute businessman knows his product, knows when to take a calculated risk and knows when to accept his losses or take his profit.

If you're saying all retailers are gamblers then fine, that's your opinion and you're entitled to it, but singling out trading forex just because you lost money trying to gamble in it makes no logical sense.

Have fun!


Mick

[question]

MickMason, I would make the claim that every area in life is a gamble, from dating to going to school to holding down a job to pretty much anything.

[MickMason]

Originally Posted by question

MickMason, I would make the claim that every area in life is a gamble, from dating to going to school to holding down a job to pretty much anything.

Crossing the road can be a gamble! The difference between a gambler crossing the road with his eyes shut blissfully unaware of the 18-wheeler coming in his direction, and the risk aware pedestrian who looks both ways to reduce the risk of being flattened is fairly obvious I would have thought


Mick

[metal]

Originally Posted by MickMason

Crossing the road can be a gamble! The difference between a gambler crossing the road with his eyes shut blissfully unaware of the 18-wheeler coming in his direction, and the risk aware pedestrian who looks both ways to reduce the risk of being flattened is fairly obvious I would have thought


Mick

Spoken like a typical gambling idiot.

[Trader01]

Originally Posted by metal

Forex is gambling so anyone trading in forex will lose sooner or later. Discipline and dedication has nothing to do with forex/gambling. You will end up being a loser no matter how well you know forex unless you are a broker or work for a broker.
Stay away from forex. Dont give your hard earned money to some broker.

And what if I told you that I've been invited to attend MickMason's secret course, only for a priveleged few, wherein ALL broker shenanigans/tricks will be revealed.

But you had to go and pisss him off and make my job of turning Lead into Gold doubly hard.

Thanks for nothing.

[compro00]

Metal,

what is the problem with u ?? Has life been bad to u ??

[Trader01]

Originally Posted by metal

Forex is gambling so anyone trading in forex will lose sooner or later. Discipline and dedication has nothing to do with forex/gambling. You will end up being a loser no matter how well you know forex unless you are a broker or work for a broker.
Stay away from forex. Dont give your hard earned money to some broker.

What hard earned money? All my money has come from gambling in the stock market.

All I'm doing now is going from one casino to another.

But this new casino is swell -- everything is free; you get to know some slick sharks disguised as dolphins and, look Ma, there's 400:1 levvvvvvvveraggggggge!!!!!!!!!!

I'm going to use it and request it be raised to 800:1.

When I die I'd like to go in style, like a rocket!

Amen!