Trading like a Casino

Hello,

I have found some videos presenting this concept and they advise to use a SL of 2% and a TP of 4% for each trade, the question I would like to ask is when you use a leverage like X5 and a capital of 800$, you must apply a SL of 2% for 800$ or 4000$?. Thank you.

I believe you must still apply the 2% on the $800 which is your deposited capital.
Leverage only gives you the power to control a large amount of money using a very little part of your own money.
And your risk (which is your stop loss) should not be determine how much leverage you have.

Trading like a casino videos won't be profitable for you.
You need to develop your own style.
Other peoples systems never work.
seeing that you joined in Aug... You should have very small account.
It gonna take you a long time to get consistently profitable.
Years..

I would not risk 2% of an account on a system your just starting.
I'd demo it for 1-3 months.. if profitable.. start small. .2%
see if you can be profitable with the pressure of real money..
then work up a little each month you have good results.

But as I said.. your not gonna be profitable.. Nobody comes in... watches a video.. and makes 4% a trade.

When you trade like a casino you already lose your money. We have to prepare our well plan strategy before trade.

Absolutely. We need to give some structure and direction to our strategies in order to be able to trade profitably. It is not to be treated like gambling, not for me at least

I have seen according to my experience , most of the traders we have particularly beginners level take Forex trading as like a casino , they trade here with no analysis and try to earn money very rapidly without learning , as a result within very short time they become loser . in practical this trading place is not a casino or gambling something.

that market is big casino !!!

It's not anything like a casino:
- No limits on how large you can trade ( in regards to us trading, not large financial businesses/gov'ts, who can affect their own price if done too large/aggressively )
- No one watching what you do and kicking you out if they think you have a 'system'
- No one to kick you out if you 'win too much'
- No one having a set of odds that are set up in order to give them the advantage of earning profits from you over time
- No one giving you free drinks to keep you active (which is a shame, really)
- No restrictions on where you can do it (i.e., you don't have to be online with a particular casino or at their location)


I'm sure there's plenty more. In fact, by treating trading as you would betting (i.e., place a bit bet and just hope it works out), you'll be potentially costing yourself a lot of money, where a bit of planning and money management would give you a potential decent return.

I have read where people have said Forex is like one big casino. I disagree. Forex is what a person understands of it. If a person takes the time to study it and learn the fundamentals of it, don't rush into a live account and be so eager to make money, in the end, I think the person will be pleasantly surprised of their forex experience. The keys to learn it correctly is patience and determination. Don't be so easily ready to quit, if things do work out for you the first time. I am talking about still being on a demo account, not a live account. It also helps if you have the knowledge to create your own personal indicators and incorporate some oldies but goodies, like moving average, macd, rsi, etc. to the mix. I have a rule of not flooding my chart with many indicators. I use 2 indicators on my chart, and I have 2 indicators that I made that are off chart. After 2 years of losses and profits, tinkering around with traditional indicators and ones I have created, I feel I have a group of 4 that work well with each other to make me have the confidence of going live.

Everyone has their own ways they feel comfortable with getting those pips. Do what you feel most comfortable with and of course what makes that best trade.

we can consider our trading as like casino when there is no analysis and money management . when an order kick off by knowledge , experience and analysis it call a real trade.

after having money management and great analysis sometimes we become loser and our strategies not works when trading , its a common issue in Fx trading , no certainty in here.

What does trading like a casino actually mean? Trading randomly?

If you treat Forex as a gambling then you are going to see it as casino. If you work with passion and smartly then you will surely earn profit.

I think that passion is one of the things that should actually be avoided when trading. Be cold and dispassionate and level-headed.

exactly , when we trade in here at random with no analysis .,
there is no different between trading and casino.
its all about depending on luck , nothing without it.

only randomly trading not means casino , to bring profit from casino is also a great skill but we don't support this skill , because its not legal , trading and casino there is no different if we greedy and emotional. so, we have to controlled our bad trading habits by discipline.

True. I wouldn't even call that "trading". It's straight up gambling, in my opinion.

You are learning other people systems only for very good experience here. It doesn't really work at all. Only your own unique and tisted or maybe other but with some definite twists for everything like that. That way it will not be gambling for you. Stay tuned!

If you trade like you do when you go to a casino then you will lose in the long run so I don't get it

Trading like a casino sound me as a gambling. Nothing considered as a gambling is profitable in long term.