If you talk about an analogy of forex and gambling, I just want to say this:
Say, when you see 100 consecutive "black" in roulette, do you bet "red" or "black" on next one?
If you bet on "black" you are more likely to succeed in forex. This is what I believe.
Of course, the winning rate of "black" and "red" is the same. But I'm talking about the mentality here -- the mentality that considers "100 consecutive black" as "a strong black trend." For that mentality, betting on "red" is like catching a falling knife bare hand. Yet, a majority of people bet on "red."
How many forex traders do you think have this kind of mentality? A very few, I say. That is why only a few traders are successful in forex.
Get it??
Say, when you see 100 consecutive "black" in roulette, do you bet "red" or "black" on next one?
If you bet on "black" you are more likely to succeed in forex. This is what I believe.
Of course, the winning rate of "black" and "red" is the same. But I'm talking about the mentality here -- the mentality that considers "100 consecutive black" as "a strong black trend." For that mentality, betting on "red" is like catching a falling knife bare hand. Yet, a majority of people bet on "red."
How many forex traders do you think have this kind of mentality? A very few, I say. That is why only a few traders are successful in forex.
Get it??