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Trader or Gambler?

togr (togr)
Oct 27 2015 at 07:03
4862 posts
CrazyTrader posted:
So you avoided the challenge..
You prefer to talk about live account... this is fine : )
I'm building my Fx Army... When it's ready, we will see whose making impressive pips... the crazy gambler or the wise trader ?

The battle is on!


I do trade. For living. You just rattle around

Samsu_samsul
Oct 27 2015 at 07:22
10 posts
Both traders and gamblers have chances, and luck factor isn't avoidable. But for traders, technical and fundamental are part of them before execute their opportunity.

snapdragon1970 (snapdragon1970)
Oct 27 2015 at 14:39
1944 posts
Gamblers don't wait for chances they trade on gut feelings and high risk periods to trade,that next trade will be a winner concept,fundamentals are mostly baked in before hand,joe soap is last to know.Cool character Samsu.

"They mistook leverage with genius".
luthfi_maung
Oct 28 2015 at 07:13
11 posts
snapdragon1970 posted:
Gamblers don't wait for chances they trade on gut feelings and high risk periods to trade,that next trade will be a winner concept,fundamentals are mostly baked in before hand,joe soap is last to know.Cool character Samsu.


Some newbie traders do the same, trade on gut feelings, risking they money without any concept/analysis. But less of them will learn how to analyze market before execute their order.

GB85 (GB85)
Oct 28 2015 at 08:58
7 posts
snapdragon1970 posted:
Gamblers don't wait for chances they trade on gut feelings and high risk periods to trade,that next trade will be a winner concept,fundamentals are mostly baked in before hand,joe soap is last to know.Cool character Samsu.


Also i know some gambler traders, who are trading based on math methods.

kricka
Oct 28 2015 at 20:22
92 posts
Regardless if we are labeled as traders or gamblers, protecting the account is the primary goal and sound RMM to be able to survive in the long run is needed. Now way around the fact that every successful gambler or trader will confirm this as a corner stone in their path to success.

" Lock in the profit and minimize the draw down "
CrazyTrader (CrazyTrader)
Oct 28 2015 at 20:33
1718 posts
All our life is restricted by rules...

Trading can be an exception... why would you implement restricted rules on your way to success with MM rules?
Take them off... and trade with free money.

- If you lose your account (saving you placed from hard work) despite MM rules... you have 100% loss and 0% profit. (respectful trader)
- If you lose free money... you have 0% loss and 0% profit (smarter gambler)

=> So by trading free money, the only risk you take is to win money being free of rules.

Personnaly, my choice is done. : )

ps: 2 new accounts (free money) created based on my last gamble


kricka
Oct 28 2015 at 20:59
92 posts
CrazyTrader I can understand your euphoria at the moment, if you are ahead. The thing is that it will not always go your way. The market changes, we do too, and ups and downs will be a part of the over all trading. Why not be at peace and except the inevitable of the fact that this is what trading is all about, ups and downs will happen and we have to be in control and cool in the down turn moments and the same goes when we are ahead of course. Protect our self and minimize losses when we are down and lock in profits when we are having a very positive period in our trading.

" Lock in the profit and minimize the draw down "
CrazyTrader (CrazyTrader)
Oct 28 2015 at 21:07
1718 posts
Ho yes I know!
Gambling is the fastest way to blow up accounts.
I was up to 5 accounts and I lost 4.
I had only 1 left then and now I have 7.

I have already said that in fact I'm using a very specific MM.
My MM is to trade with 10 accounts... when I will get there, I will start to compound profit.

It's all about managing risk as you said... but having 10 accounts without MM is better than havin 1 account with strict MM.

Simply because naturaly, the whole risk is divided by 10.

kricka
Oct 28 2015 at 21:16
92 posts
Cool, I will read up on it. The question is will more accounts give more protection as you say then a single account? Too early to tell until I read more about it.. :).

" Lock in the profit and minimize the draw down "
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