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forex is like driving

  • #1
  • First Post: Apr 20, 2012 6:05am Apr 20, 2012 6:05am
just my insight;
Forex trading is like driving a car. You need time practicing to be comfortable going through traffic/highways or making a parallel parking. Demo account on forex is like playing Forza Motorsports, GT5, or any other game.

Lots of people fail in forex because they dont spend enough time gaining experience or having the discipline in following their trading method. They make a trade when they're not suppose to, keep on adjusting stoploss levels for more damage, and many more. Its the same as driving your car. How many drivers actually stay within the posted speed limit? How many drivers actually cut in front of another car unsafely? How many drivers talk on their cellphone when its not allowed in their country? How about tailgating? Drinking and driving?

And its not until you crash your car or hit a pedestrian till you regret the reckless driving. Same for forex when you bust your forex account. Some of these habits create the discipline you have in forex. Discipline & experience is extremely important in succeeding. But when you make a good trade its like cruising with your convertible hearing the throttle and engine roar!

What do you think forex is like to you?
  • #2
  • Apr 20, 2012 8:40am Apr 20, 2012 8:40am
I agree with what You've wrote but I'd add that You should use an real account with microlots to learn along with an demo one. Demo account will never create that level of pressure and stress that You'll face while daytrading with Your real cash.

Never treat Forex as an easy way to get from 100$ to 1million in few weeks, that's why most people fail I'd say.

P.s Drive safe Keep in mind that Forex margin call will only affect You, drinking and driving or reckless driving may cause other people to suffer.
  • #3
  • Apr 20, 2012 2:13pm Apr 20, 2012 2:13pm
One of the best comparisons I've read in a long time, thumbs up to you.
An investment in knowledge pays the best interest - Ben Franklin
  • #4
  • Apr 21, 2012 1:45am Apr 21, 2012 1:45am
I will take it one step further...It is like riding a motorcycle...! mistakes are deadly
  • #5
  • Apr 21, 2012 1:58am Apr 21, 2012 1:58am
Quoting soyamilk
just my insight;
Forex trading is like driving a car. You need time practicing to be comfortable going through traffic/highways or making a parallel parking. Demo account on forex is like playing Forza Motorsports, GT5, or any other game.

Lots of people fail in forex because they dont spend enough time gaining experience or having the discipline in following their trading method. They make a trade when they're not suppose to, keep on adjusting stoploss levels for more damage, and many more. Its the same as driving your car. How many drivers...
If we go with your metaphor, I think knowing how to drive is not even enough. You need to know how to drive like a formula 1 driver, otherwise the market let's you bleed. But in general you are right.
  • #6
  • Apr 21, 2012 6:17am Apr 21, 2012 6:17am
Dear, Im also agree with you a bout your descreption for Forex its realy like drive car and how much yu are agood driver and take care a bout your car will be safe.
  • #7
  • Apr 27, 2012 2:27am Apr 27, 2012 2:27am
Quoting soyamilk
just my insight;
Forex trading is like driving a car. You need time practicing to be comfortable going through traffic/highways or making a parallel parking. Demo account on forex is like playing Forza Motorsports, GT5, or any other game.

What do you think forex is like to you?
There is truth in your words. Forex is like any other career. U need to learn it first of all and then u can be a good specialist.
  • #8
  • Aug 3, 2012 3:11am Aug 3, 2012 3:11am
Quoting soyamilk
just my insight;
Forex trading is like driving a car. You need time practicing to be comfortable going through traffic/highways or making a parallel parking. Demo account on forex is like playing Forza Motorsports, GT5, or any other game.

Lots of people fail in forex because they dont spend enough time gaining experience or having the discipline in following their trading method. They make a trade when they're not suppose to, keep on adjusting stoploss levels for more damage, and many more. Its the same as driving your car. How many drivers...
Wow! Impressive. I find it so true. And what Custos had said is also true. So to sum up, Forex is like driving F1 car that would require one to be more experienced right?
  • #9
  • Aug 3, 2012 6:08am Aug 3, 2012 6:08am
So you're saying that one shouldn't drink and trade?
Hmmm.... well played! I think I found my holy grail right there!
  • #10
  • Aug 8, 2012 12:48am Aug 8, 2012 12:48am
Good analogy.
Trading is like driving; but with a mortality rate of 95% on those happy (forex) speed ways.
  • #11
  • Last Post: Aug 8, 2012 3:48am Aug 8, 2012 3:48am
HI I new here...

Drove many cars but never drive forex car.

We have develope many mobile apps for iphone, ipad and android and looking into learning forex and to integrate forex into mobile apps.

Cheers

Marcus from Hitzapps.
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