Intraday Trading is gambling

HolyGrail2222 posted:

Tombuontien posted:
Well ,
Life is gamble .To be born as human is gamble already because You would not know if your life would be better than your dog life or your life can be suck .
Marry your wife is gamble too , you dont know if she would be good wife or she will drive you crazy .
You go to sleep at night is gamble because you dont know you can get up the next morning or you can sleep for good .
Everytime you drive your car on street is gamble ,eating is gamble , drinking is gamble ......
So what the heck wrong with gamble ????
15 minutes or 1 month , 1 year the risk is the same if you dont know what you are doing and dont have money management .
Good luck .

This is the best comment I have ever read, Very good, Life is chance, we are risking all the time without knowing if it will be ok or not, But we have to go on with out¡r lifes, There is nothing wrong in Gambling or risking. All or nothing. To live life at is fullest, I think people trying to safe trade are control freaks. There is no fun without a bit of risk in life.

Yes, we need to take risk in our life, but not at the cost of losing everything you have.You must take only calculated risks in forex trading.

montreal posted:
Day trading is the system when you take a position during the day and close it before the end of that trading session. Therefore, making profit in this buying & selling system. It doesn’t concern that whether market will rise or fall but the fundamental news that affect the movement of the instrument. You only need to find is the strength & weakness of the instrument.

I am not against intraday trading.What I am saying is many traders doing intraday are watching their systems all day end up losing their money and health.If any one spend only less hours in a day to trade is great.But many people they are doing the opposite.Especially,it turns out to be addiction towards watching forex charts all day and finally blowing their account.That's why, my advice is follow 'set and forget trading method' even in intraday.

togr posted:

Of course you need to make profit AND trade with acceptable risk.
Trading without profit (as 90% guys here) just for fun or being addict makes no sense of course!

Apparently it's closer to 95%.

prakash104 posted:

montreal posted:
Day trading is the system when you take a position during the day and close it before the end of that trading session. Therefore, making profit in this buying & selling system. It doesn’t concern that whether market will rise or fall but the fundamental news that affect the movement of the instrument. You only need to find is the strength & weakness of the instrument.

I am not against intraday trading.What I am saying is many traders doing intraday are watching their systems all day end up losing their money and health.If any one spend only less hours in a day to trade is great.But many people they are doing the opposite.Especially,it turns out to be addiction towards watching forex charts all day and finally blowing their account.That's why, my advice is follow 'set and forget trading method' even in intraday.

yes you are right on your part, people do keep watching their trades all day long but it all depends upon how one takes or handles the situation. its like a business so one need to do proper time mgt and also take due care of their health.

I guess this intraday strategy is probably not gambling:

https://www.myfxbook.com/members/FxMasterGuru/robosniper-1x-risk-standard/1770937

you are gambling when you wake up in the morning and decide to try to get out of bed. You dontr have to get outr fo bed, and if you do you may pull your back and be down for 4 months or you may slip and hit yoru head and die.

Then your day is a long long series of calculated risks.

life is a gamble. you cant win if you don't play.

FxMasterGuru posted:
I guess this intraday strategy is probably not gambling:

https://www.myfxbook.com/members/FxMasterGuru/robosniper-1x-risk-standard/1770937

are you gambling that the broker doesn't disappear with your money?

c3po posted:

FxMasterGuru posted:
I guess this intraday strategy is probably not gambling:

https://www.myfxbook.com/members/FxMasterGuru/robosniper-1x-risk-standard/1770937

are you gambling that the broker doesn't disappear with your money?

@c3po

Yes, you are right about that.

One broker - Capital Trust Markets - has already disappeared with my and other traders' funds altoghether with a total of $500k+). By the way, the owner has been recently charged by the Canadian authorities and he will stand trial in Toronto just in 5 days from now.

Anyway, currently I am exploring a transition to a London-based and FCA insured (up to 50k GBP) broker for the same exact reason. Should I ever reach 50k GBP on that account, I will look for another FCA insured broker.

Of course, it is also a gamble if FCA would pay out in case an 'insured' broker disappers with my funds, but there is a good chance that it will, as it did after the bankruptcy of a few brokers (e.g. Alpari UK) in connection with the CHF related chaos last year.

P.S. Also, you made a good point about Gambling = Calculated Risk. I have to agree with that.

when you don't have knowledge and strategy trading can be gambling definitely 😄 i agree it is about taking the right amount of risk one need be ready to lose what invested!

prakash104 posted:

montreal posted:
Day trading is the system when you take a position during the day and close it before the end of that trading session. Therefore, making profit in this buying & selling system. It doesn’t concern that whether market will rise or fall but the fundamental news that affect the movement of the instrument. You only need to find is the strength & weakness of the instrument.

I am not against intraday trading.What I am saying is many traders doing intraday are watching their systems all day end up losing their money and health.If any one spend only less hours in a day to trade is great.But many people they are doing the opposite.Especially,it turns out to be addiction towards watching forex charts all day and finally blowing their account.That's why, my advice is follow 'set and forget trading method' even in intraday.

so you vote for a balance in everything if i understand you correctly. not to go crazy about one thing and that's all.

c3po posted:

FxMasterGuru posted:
I guess this intraday strategy is probably not gambling:

https://www.myfxbook.com/members/FxMasterGuru/robosniper-1x-risk-standard/1770937

are you gambling that the broker doesn't disappear with your money?

you are one of those Trump voters!!! hahaha
are you frustrated with the fact that we all need to take some moderate risk in life or are you serious?

@HolyGrail2222

I think @c3po was serious and he was right.

Brokers can and - sometimes - do disappear with their clients' funds...

So when we send our hard earned monies to poorly regulated brokers we do take a gamble.

FxMasterGuru posted:
@HolyGrail2222

I think @c3po was serious and he was right.

Brokers can and - sometimes - do disappear with their clients' funds...

So when we send our hard earned monies to poorly regulated brokers we do take a gamble.

I did not really want hurt anyones feelings.

Life is full of risk. But The probabilities are nearly 0% in most cases. Bad things can happen of course. When I mention life being gamble I mean only in certain areas. Waking up from bed is not risky. There is very small chance of it going wrong. SO we can live life happy and confident.
The whole thing here is seeing the concept Gamble as bad. I see it as taking chances in life. We cannot be sure of the outcome and we need to make our bet in very area in life, to fail or succeed. not to live or die. Humans have gambled for centuries. It is part of our Nature. I am not saying we should take full risk in every action. But if we stay quiet and not move at all we might avoid most dangers in life. But then what kind of life would we have a safe and stable one but very boring.

I am saying we take risks in order to achieve things we desire.
Not very different from Gambling. The differce is what are we betting, Our whole deposit, I am taking risks by saying these words becuase other people will think I am an idiot. BUt I do not care. I accept that risk. We not only risk money but nearly everything.

It is not the same to start a business and considering investing a lot of money to see then it fails. We never now the outcome of things before hand. But we learn from experience and failing and thta makes us have more chances to succed the next time we risk.

in this case intraday traing is gamble. yes any kind of trading is so. It depends on risk and probabilities in order to succd. the tf does not matter

FxMasterGuru posted:
@HolyGrail2222

I think @c3po was serious and he was right.

Brokers can and - sometimes - do disappear with their clients' funds...

So when we send our hard earned monies to poorly regulated brokers we do take a gamble.

This is why I only trade with Australian brokers.

JayTeeFX posted:

FxMasterGuru posted:
@HolyGrail2222

I think @c3po was serious and he was right.

Brokers can and - sometimes - do disappear with their clients' funds...

So when we send our hard earned monies to poorly regulated brokers we do take a gamble.

This is why I only trade with Australian brokers.

Yes, Aussie brokers are OK (mostly the well known ones), but FCA regulated brokers are even safer with FCA's up to 50,000 GBP insurance, which insurance kicks in if a br0ker goes bankrupt after using up its clients' deposits to avoid bankruptcy.

Just diversify
1. different currencies
2. different systems
3. different brokers

Thus you minimize impact of market crash, your system failure, broker scam.

I have like 50 real accounts. It takes a lot of time to manage (I am full time trader anyway) but as portfolio it is very safe.

I would add even different investment fields and assets if we look from a global point of view.