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-   -   Trading IS Gambling... (https://www.forexfactory.com/showthread.php?t=5863)

MrWhipple Jun 13, 2006 8:03pm | Post# 41

You completely misunderstood what I said about Vegas and odds. I'm talking about the person Vegas, on these forums. ?
On the contrary I knew exactly what you were talking about.

Klaka Jun 14, 2006 6:09am | Post# 42

there are two ways to gamble...with the odds in your favor, and with the odds against you.

the professional gambler is the one with the odds in their favor, no matter if you are talking about blackjack, poker, or trading.

there is nothing wrong with being a professional gambler, i am proud to be one and i think it is the best business you can have. low overhead, just a few employees, no inventory, extremely scalable....and fun as hell!!!!

Probably the smartest post i've ever seen.
Couldn't have said it better myself.

Manni Jun 14, 2006 7:01am | Post# 43

Indicators? There is not one single indicator which is reliable! How many traders can honestly say that his indicators are the holy grail? It doesn't exist!

What do the real successful traders do to constantly beat the markets?

  1. They ignore the so called rules of this game. They do not listen to no one accept themselves and there experience. ( What are the rules of this game? It's all the stuff presented in books, articles and newsletters.)
  2. They have a unique way of laying there money out so that the market cannot hurt them, whichever way it goes.

I say this because i personally know such traders. I have recently started to trade their way. Today I am one of them......

Good luck to those who believe otherwise....


Cobra

Ps. You cannot beat this market, unless you are prepared to do things differently!!!!!! Totally different from the way you were taught!





well said - you have to be prepared to re-program your mind to think and behave differently. Indicators are a complete waste of time - learn price action and you will be well rewarded.

I've learnt this the hard way and now i'm trading successfully. my charts are not cluttered with indicators and my mind is less stressed.

Cobra Jun 14, 2006 7:46am | Post# 44

well said - you have to be prepared to re-program your mind to think and behave differently. Indicators are a complete waste of time - learn price action and you will be well rewarded.

I've learnt this the hard way and now i'm trading successfully. my charts are not cluttered with indicators and my mind is less stressed.
Thx Manni. It is nice to know that you also don't keep yourself too busy programming in "sloping indicators". LOL.

Manni Jun 14, 2006 9:46am | Post# 45

life is too short to spend time programming "sloping indicators".

MrWhipple Jun 14, 2006 10:15am | Post# 46

good luck wid dat

naddix May 15, 2010 9:28am | Post# 47

Oh my the gambling. I think one of the reasons I was drawn to forex was my gambling habit. statistics make statistics and 94% of statistics are wrong...>>>? Was that a statistic? Well I think forex is like gambling but the odds at times can be more in your favor. Poker and horse racing come to mind when I trade. Its all about getting the odds as much as you can in your favor and when they are let loose and see what happens. The thing with forex is you can control a loss or control a win. This can be in a good way or a bad way.


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