Forex Trading and Gambling ~ forex trading pips review
From several surveys that most forex traders fail to make profits consistently a flop like GAMBLER (gamblers). They consider markets like arena play casino and not the business world. Trading is to think like a gambler in the run length usually losers, was a way of thinking trading is a business more lasting and not least that can generate consistent profit with. Here are the characteristics that distinguish both.
Characteristics of a gambler
Gambling as a panacea, and a true GAMBLER have dependencies to always do gambling. They do the same thing over and over again with just to obtain satisfaction and a high sense of euphoria, well win or lose. The gambler assume that gambling is not a profession, but rather just a hobby. Unfortunately, this hobby has made them addicted with compensation paid pleasure, even sometimes have debts that they could enjoy the hobby. That makes them addicted is hope who is always there gambling on the game itself, therefore they do not care much less regret when lost. Sense of expect thats the one that they enjoy. Why do a lot of gambler who impoverished even all-out? Because gambling dealers are not stupid, they utilize way of thinking gambler to dredge maximum profit.
It is unfortunate that many forex traders who consider the market as a gambling arena. temptation to get rich quickly can lead to unrealistic expectations. Much like the gambler, they are addicted to the feeling of hope , and excessive sense of euphoria when profit. orientation they are the results to be obtained in the short term. Money management dan rencana trading tend to be ignored. In order to enjoy the game, they usually trade with scalping techniques on the lower time frames. Not all traders who use scalping techniques are a gambler, but the mindset of a gambler tends to use scalping techniques.
Characteristics of a trader
Traders always consider the Forex market as a commercial enterprise. Trading activity is doing business transactions, buying and selling. Every business is always a risk therefore needed a money management and business plan (trading plan in this case) clear. At least should be able to limit the risks that the business can continue to run. Capital calculation and plan return (income) to be acquired must be clear so as not to disadvantage or even go bankrupt. Orientation results to be obtained always in the long run. Additionally ereka have methods and trading strategies are clear and proven, and any method, they are not addicted to frequently entry. Opening position means making business transactions, therefore must be carefully taken into account.
Changing the mindset of a gambler into thinking trader
To change the way of thinking of a gambler in forex trading can not be instant, required time for transition. In essence the things that must be considered are :
- Seeing forex trading is a business, profit and loss, not guessing or betting (betting) neck or nothing.
- Do not put expectations on the market, because the market can not be expected.
- Targeting the overall trading revenue in the long term, not expect results short-term entry once or 2 times.
- Realistic amount of capital available for trading by not using the lot size too large when entry.
- Limiting the risk and apply money management discipline.
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