Superstitious and Impulsive? | Forex Factory

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First degree impulsive trade 0 replies

Superstitious and Impulsive?

  • #1
  • First Post: Jul 7, 2011 2:35am Jul 7, 2011 2:35am
If you fit into this category you may want to hear this latest research regarding a link to compulsive gambling before starting out in Forex : http://www.bbc.co.uk/programmes/b0128q83#synopsis


I understand that some BBC programs can't be obtained without a UK IP address, in which case you may need to connect via a UK proxy IP address.
  • #2
  • Jul 7, 2011 11:04am Jul 7, 2011 11:04am
For me trading is not gambling.
I trade by logic and not by guessing.
Some people gamble in trading and are very addicted.
But using demo is no risk at all.
Better to gamble demo than to play all kinds of games wasting time purposelessly.
  • #3
  • Jul 7, 2011 3:06pm Jul 7, 2011 3:06pm
Quoting Expert44
For me trading is not gambling.
I trade by logic and not by guessing.
Some people gamble in trading and are very addicted.
But using demo is no risk at all.
Better to gamble demo than to play all kinds of games wasting time purposelessly.
mm i think demo leads you to think ya can be a trader, but in fact when it comes to live trade its totally different, so yes ya tend to gamble on demo , whilst bellieing its real and ya can do it...... whole new game when its live ...coz its not a game its your life .
  • #4
  • Jul 8, 2011 2:57am Jul 8, 2011 2:57am
Quoting Expert44
For me trading is not gambling.
I trade by logic and not by guessing.
Some people gamble in trading and are very addicted.
Some gamblers are quite sure that they are using logic and not guessing when they gamble .
  • #5
  • Jul 8, 2011 10:33am Jul 8, 2011 10:33am
Trading live is different from demo for fear of losing affects person.
Therefore live results are different from demo results.
  • #6
  • Jul 8, 2011 10:34am Jul 8, 2011 10:34am
Quoting enivid
Some gamblers are quite sure that they are using logic and not guessing when they gamble .
Please give an example when gamblers use logic.
  • #7
  • Jul 8, 2011 11:31am Jul 8, 2011 11:31am
Random, great find that. The bit at the end - how people tackle a problem depending on how it's described (crime as a beast or virus) is also cracking.

Gotta dash. Just seen 2 magpies.
  • #8
  • Jul 9, 2011 2:21pm Jul 9, 2011 2:21pm
Quoting Expert44
Please give an example when gamblers use logic.
I think the point is that they believe it to be logic such as using a Martingale approach will guarentee success.

You don't have to look far to find people with some rather strange beliefs that only make sense to a minority of the population. Indeed, people who use pure logic and calculation of the odds in their approach to all aspects of life are somewhat rare.
  • #9
  • Jul 9, 2011 2:31pm Jul 9, 2011 2:31pm
Quoting Expert44
For me trading is not gambling.
I trade by logic and not by guessing.
Some people gamble in trading and are very addicted.
But using demo is no risk at all.
Better to gamble demo than to play all kinds of games wasting time purposelessly.
I agree that trading should be logic rather than a gamble.

Personally I don't gamble unless I know the odds are in my favour. Hence Las Vegas had no attraction to me apart from the experience of simply being there and watching all the other people who do find gambling worth the money they invariably loose.

However, before demo I would only use a strategy if it had been proven in back-test.
  • #10
  • Jul 9, 2011 2:47pm Jul 9, 2011 2:47pm
Quoting triphop
Random, great find that. The bit at the end - how people tackle a problem depending on how it's described (crime as a beast or virus) is also cracking.

Gotta dash. Just seen 2 magpies.
When I first heard it I immediately thought of Forex and how it probably does apply to some people, although they may not be the type to recognise themselves in the description.

I think the link between description and approach is highlighting how the mind is open to suggestion, an ability that is exploited by some people such as lawyers, politicians, advertisers and con-men to name a few. To counter this you need to step back and try and see the underlying facts in a situation. Perhaps in trading you need to do the same for even more common emotions such as greed and fear.
  • #11
  • Jul 10, 2011 5:20am Jul 10, 2011 5:20am
Quoting Expert44
Please give an example when gamblers use logic.
I didn't say that they use logic, I said that they think that they are sure that they use logic. The same as some Forex traders do.
  • #12
  • Last Post: Jul 13, 2011 12:32pm Jul 13, 2011 12:32pm
Martingale is pure gambling...
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