Trading is always a form of gambling i think, thats not a negative thing.
When you are gambling in a casino, you walk in with $100 and decide to put 10 times $10 on red, you know before you start that you have more change of loosing that winning. In this particular game, the casino has always an edge over you. They created a system for that game that makes you loose over the long run. You can still win over 10 bets, you can even win over 1000 bets when you have some luck on your side. So in this case, even the casino is gambling. There power is that if they keep playing for long enough against enough bets from enough people, there outcome will become positive sooner or later.
When you take other games, like poker or blackjack (at the time card counting was still possible), there is no predefined edge for anyone. The outcome will be determined by the players and how they decide how and when they bet. That means that when you be able to have a clear look of the current game and the current players, and you are able to make decisions based on that situation that give you an edge over the decisions of your opponents, and you keep playing for long enough, at some point your results will be positive. Even in this situation you are still gambling because you can loose and loose, and you never know when you will become positive. You only created a game with the luck on your side.
This is stil the same with trading the forex markets these days.
This market is Break even, what means that where someone wins money, someone else have to loose that amount. Keep that in mind.
The benefits of this market is that it moves in clear patterns, actually the same patterns as it did for a long time. This makes it possible to have an idea how your opponents work, how they make decisions. Where they most likely go in and out. Whit this noledge you can create a system that takes advantage over them what gives you an edge over your opponents.
keep in mind that this will be most likely a relative small edge. Because of this even if you are a winning player, it will be a messy road to succes with a lot of losses on the road.
I think this is the main reason why so many people are still loosing in the long run.
Because of this small edge, you have to deal with periods that the markets keep going against you, again and again, while your still have an edge, and still doing well.
This pumps in so much emotion that people doing to doubt them self. They are likely going to think that they are doing not right in this loosing periods and start making decisions that will crush there edge, what makes them loose more and more. At this time even more emotions comes in, what makes them for example mess with there MM and try to win there money back with putting more at risk, what eventually blow al of it.
In the beginning of this journey the most important thing is to learn how the markets behave. You have to learn to recognise patterns, and learn how to deal with them. This can be done best on demo accounts, because you are still learning.
Then you need a set of rules that makes you sure that you will keep acting according the things you have learned. You can call it a strategy. This is really important because the only way to keep your emotions out and keeps you believe your doing right even in loosing periods, is knowing exactly what your doing time after time.
Than you have to become a master of the process, keep doing it over and over again and evaluate the situation again and again. With the time you will become better and will be able to see what situations within your strategy (set of rules), will be valide and wich are fals. This will makes your edge even bigger.
Stuck with what your doing and become a real master in it, this is not possible when your switching your rules or strategy every couple of months.
Set-up a solid money management plan that keeps you in the game and is solid enough for you to not let your emotions takes control in whatever situation.
There was also a reaction about taking your position out when you see you are loosing. It make sense but is also really dangerous i think. When do you know you are right or wrong? What makes you pull the trigger to get your position out?? Mostly this is based on moving data, and see that it looks like your loosing money at the moment.. This is something you can do, but only if you are really know what your doing. But?? is that not the main reason of the stop-loss?? set a price lvl what proves that you are wrong?
The whole point is, stuck with a predefined plan what cover's al the decisions you have to make, also the decisions that you have to make when your trade is open. Every situation that can play out (also while your trade is open) should be covered before you open the trade. And act to al these rules without hesitating, and never change the plan while after you made it.
Getting an edge of the markets is the simple part, stuck with it is the hard part ;)
In my opinion, the difference between a solid trader and a gambler is someone who can make over taught decisions based on a predefined plan what they know is working, and someone who makes there decisions based on how they feel.
Don't understand my wrong, this is only my look to it, and i'm also struggling with it. It will be a lifetime journey to walk the stairs step by step. But i notice that the more honest you can be to yourself and the more you be able not to blame anything for certain outcomes, the better results you will get.
(i'm sorry for this much to long text haha, i can keep typing about this subject for ever =p)
(and sorry if the english is not perfect, working on it ;)