Forex Trading = Gambling

[comenow]

Originally Posted by graemenash

I'd disagree with most of that. Trading is gambling to a certain extent because you can never say with 100% accuracy what the market will do.

However once you define an "edge" which is profitable more often that it result in losses, trading becomes simply a matter of playing the probabilities when they're in your favour - more like "calculated risk-taking" rather than simple coin-toss gambling.

This is a lesson I'm having to teach myself at the moment - over the last month or two I've been developing a system which seems to have a 70-80% strike rate but I'm struggling to make good pips with it simply because I haven't trained myself to be emotionless and take very trade as soon as it appears. If I took every entry the system gave I'd come out ahead but at the moment I'm still second-guessing the signals and cherry-picking the trades which inevitably reduces the potential profit.

So I guess this little essay's as much for myself as anyone else lol

you see, the point is that the chances of you winning on a trade can be worse than in the case of the toss of a coin (i.e., gambling), but you can still win if your r:r over time is a good one. You can gamble and win, in other words. I don't see the point of denying that.

[birdjaguar]

Originally Posted by metal

Easier to say it after the price action happened. Thats like saying if I put my money on such and such horse after the race.

And yes, I have studied statistical and non-linear analysis. My masters is in non-linear analysis.

You seem to have eyes only in the back of your head, while you are still crying over spilled milk. You are the only one who is still writing about the past. What part of support and resistance did you not understand? I did not give you a trade for the past. I clearly gave you trades for the future at EUR/USD buying 1.1980 and selling 1.2180 while the price was at 1.2038. That doesn't mean the trades will work, but I gave you these trades yesterday for the future. I won't entertain anymore discussion from you about the past. You are clearly stuck on your losing trade regardless of what anyone says or you have a problem with reading comprehension. Either way, I won't have anymore discussions with you about the past. We are working on winning on this forum. If you are stuck on losing, go find a losers forum... or start a thread called, "Who wants to be a loser."

[metal]

Originally Posted by birdjaguar

You seem to have eyes only in the back of your head, while you are still crying over spilled milk. You are the only one who is still writing about the past. What part of support and resistance did you not understand? I did not give you a trade for the past. I clearly gave you trades for the future at EUR/USD buying 1.1980 and selling 1.2180 while the price was at 1.2038. That doesn't mean the trades will work, but I gave you these trades yesterday for the future. I won't entertain anymore discussion from you about the past. You are clearly stuck on your losing trade regardless of what anyone says or you have a problem with reading comprehension. Either way, I won't have anymore discussions with you about the past. We are working on winning on this forum. If you are stuck on losing, go find a losers forum... or start a thread called, "Who wants to be a loser."

Ha ha ha. I may have eyes at the back of my head but you seem to speak from your back side. I can give you a number that might help you win multi-million dollars in an instant. Now rush to the nearest deli and buy yourself a lottery ticket all of whose digits add up to be 0.

People buying lottery tickets and betting on horses are at the deli and the OTB to win like yourself.

If you dont like to hear the truth then stay away from open discussions.

Perhaps you can find a fools' forum or start a thread called, "Who wants to build castles in the air" or "Who likes day dreaming."

Good Bye

[pjeg]

Yes i agreed forex trading = gambling.....

Best Regards

PJEG

[proedge_joe]

Is a successful trader just "lucky"?

[graemenash]

Originally Posted by comenow

you see, the point is that the chances of you winning on a trade can be worse than in the case of the toss of a coin (i.e., gambling).

That's why you need to develop an edge, i.e a method which makes your chances of winning on any given trade greater than 50%.

[forexhr]

Originally Posted by pjeg

Yes i agreed forex trading = gambling.....

Best Regards

PJEG

How many successful or professional traders share your opinion?

[pjeg]

some methods of gambling apply to the forex markets.... i think that some indicators only work after the markets moves....

Best Regards

PJEG