gambling on trades

I'm writing a post to everyone - announcing the fact that it is not okay to gamble or to use very erratic behaviour whilst in the markets.

I recently got burnt doing something similar on a very volatile pair - GBP/JPY.

I can tell you now -going against your own personal integrity, and doing what you know is not right, is cause for a big upset.

I'll be able to recover, but in due time. But I would like to let everyone know, especially those starting up - that trading is a business and responsibility should be taken at every possible interval and turn. Nothing short of full responsibility should ever be realised.

I would like to take control of the erratic emotions that made me put the trade I took that day - and I would like to take responsibility for that from now on. And thats why I feel it is important that i should be announcing the fact publicly, just to put it out there to everyone, i will be doing this.

Cheers

Rusty

Wishing you success from here forward!

i know what you mean and actually to make such a statement is great but to make such a statement when you do make a mistake and win is the real goal

been there, done that -
it aint pretty when we let that happen, but if we learn from our mistakes all the better.

best wishes to your success

Right on! Discipline is your strongest ally.

Everytime i visit the casino, its always a good reminder to me how good the odds trading can be. And then when i get the same thrill i get in baccarat when i m trading, then my immediate reaction is to close my position, most of the time its a little too late though....

For serious investors forex is never a gamble.Responsibility and owning up is truly the name of the game.

Been there - done that, too many times. Emotions are something that will ruin any good trading strategy.

Good posts, good thread. It is a business and we should not be experiencing "thrills and spills" with it. I think it is ok to feel good about making money, just like you might do if you closed a big deal in a normal business, however.

I totally agree that trading is a business, not a job. You need to keep the losses to the minimum and try to maximize your profits through a lot of hard work.

All the best, pal.