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Trader or Gambler?

JenalAripin
Nov 09 2015 at 07:26
posts 10
CrazyTrader posted:
When you have a real goal, a plan to achieve.
You don't get euphoria because you got one good trade.... it just a little part of it.


It just a part of your struggle (for newbies in his trading journey) because the process is not that easy as you thought...

CrazyTraderfx (CrazyTrader)
Nov 09 2015 at 07:35
posts 1718
JenalAripin posted:
It just a part of your struggle (for newbies in his trading journey) because the process is not that easy as you thought...


Thx so much for sharing your little experience with me.

By the way, I'm now on Step 2 of my plan...

Enjoy.

HolyGrailPTY
Nov 10 2015 at 08:12
posts 120
snapdragon1970 posted:
How do I know if I'm a trader or a gambler?I ask myself these questions before I trade each day?

Are my winning trades larger than my Losing trades?
Do I keep open positions on losing trades even when I know I'm wrong?
Am I using a stop loss?
Am I chasing the market for every position?
Do I trade just before news releases?
How do I feel after a winning trade?over confident,confident or neutral.
Do I double up when I have lost?
Are my targets for profit to high?


Be lucky.


https://www.investopedia.com/articles/basics/10/investing-or-gambling.asp

HolyGrailPTY
Nov 10 2015 at 08:20
posts 120
kricka posted:
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.. :).


 I would agree that if you have more accounts, and those accounts protect the proceding one then you run a higher chance to have net profit daily, compared to have all the funds in one account. Of course, money management plays a role in how you use those accounts. Yet if you have a system which is built on accuracy, then using say 10 accounts would be much wiser then having a tilt monkey trader who has a floating losses, and puts a big lot size to recover the loss.

kieran (snapdragon1970)
Nov 10 2015 at 08:20
posts 1945
Figures I got for trading ,80% fundamental 20% techinal ,using techinal at the end for entry points,makes sense.

"They mistook leverage with genius".
RobSchiz
May 30 at 08:38
posts 473
Trading is not gambling. You need proper knowledge to survive in this market.

Starcliff
Jun 06 at 07:29
posts 55
You need not just the right knowledge, but the right attitude to this field of activity.

WaltonCharles
Jun 06 at 08:54
posts 128
Starcliff posted:
You need not just the right knowledge, but the right attitude to this field of activity.

Knowledge is the main thing in this market to survive in this market.

Tremblay
Jun 06 at 09:42
posts 330
RobSchiz posted:
Trading is not gambling. You need proper knowledge to survive in this market.

I agree with you. You just need proper dedication and skills.

LyudmilLukanov
Jun 09 at 05:53
posts 670
Don’t be a gambler. Be a trader with strategy.


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