This gambling thing has been thrashed out many times and its down to ones perspective and termonology .personally im inclined to meet half way.i certainally refer to my trades as bets.
I dont think theres anything wrong with aproaching trading in this way.most retail participants trade fx as a secondary form of trying to create income.most will never aquire the required funds to make a living from fx.most people are bounded by 30 year handcuffs.with raising kids . mortgage. Lifes daily costs.the time restrictions of being able to dedicate one self to acquiring enough knowledge to win in this game is also a handicap.
So having said that.i think using limited funds which dont effect ones daily obligations is ideal.if combined with some trading skill and patience then why not.nasirs point of knowing when to stop is key.actually theres a mathamatical form of martingale which does have a positive outcome.but the downside is it relates to the stop point.and the stop point dosnt exist atleast in the maths.
Many years ago I traded many small accounts from 500 uk pounds upto 3000 plus generally in a 6 to 8 week time period .the 3000 for some reason was my tipping point.so I withdrew the booty and enjoyed it.my best attemp was 27 uk pounds to 2900 in 4 weeks.how many small accounts have I blown 5.at a total loss of 2500 pounds my gains are 17000 pounds in total.
I tend not to trade this way these days as I have an account which is for me serious enough to manage longerterm and longerterm objectives.but I will certainly put 500 into a secondary account in the futer and have a play.
Its all relative to curcumstances and being honest to ones commitments
Good luck anybody who hits a pot
I dont think theres anything wrong with aproaching trading in this way.most retail participants trade fx as a secondary form of trying to create income.most will never aquire the required funds to make a living from fx.most people are bounded by 30 year handcuffs.with raising kids . mortgage. Lifes daily costs.the time restrictions of being able to dedicate one self to acquiring enough knowledge to win in this game is also a handicap.
So having said that.i think using limited funds which dont effect ones daily obligations is ideal.if combined with some trading skill and patience then why not.nasirs point of knowing when to stop is key.actually theres a mathamatical form of martingale which does have a positive outcome.but the downside is it relates to the stop point.and the stop point dosnt exist atleast in the maths.
Many years ago I traded many small accounts from 500 uk pounds upto 3000 plus generally in a 6 to 8 week time period .the 3000 for some reason was my tipping point.so I withdrew the booty and enjoyed it.my best attemp was 27 uk pounds to 2900 in 4 weeks.how many small accounts have I blown 5.at a total loss of 2500 pounds my gains are 17000 pounds in total.
I tend not to trade this way these days as I have an account which is for me serious enough to manage longerterm and longerterm objectives.but I will certainly put 500 into a secondary account in the futer and have a play.
Its all relative to curcumstances and being honest to ones commitments
Good luck anybody who hits a pot
