I thought that was a episode on the TV show “VEGAS”. You mean it happened for real?
yes… last year in europe… don´t remember the country
Two Serbian men and a Hungarian woman took 1.3 million GBP over 2 nights in the Ritz casino in London using a similar technique. Its rumoured that they negotiated a settlement with the casino after their arrest, as the techniques they used where not technically illegal in the UK.
You can never follow any of that if you trade alone, but it will work very well with the Demo. Just imagine that you are trading 5 - 10 stds lot.You need to have a group and a leader like mine, a proffesional trader with at least 3 to 4years of experience.
Vegas casinos would probably not be so gracious. More like sizing them up for a pair of cement boots.
speaking of casino stories: I know a fellow programmer who worked for a casino and programmed a slot machine to pay off at a certain time. After getting cought he was told that if he did it again he would be pusshin up daisies.
Would like to join my trading group ?. We trade from 12 till 4am eastern.
Practically yes, since you are unsure if your trade will give you profit or not. But unlike in casinos where your bet depends on the dealer’s hands, here in forex it all depends on your analysis of the situation. So, the better your analysis, the better chances for you to win.
I have a 95% successful rate with my strategy. I have finally found the holy grail after 4 years of hard work. As long as I have enough reasons to lose the trade I bet the money$. Most people think about gaining $, but I look at the trade and it is okay to lose as long as it is worth the loss. Please remember, the market is not there to give you money. Note : If you think like majority you most likely lose money. Baby pips is very useful site but also very toxic for your brain since most of members are not pro traders.
There are a lot of assumptions, and not much substance in this post.
Worth the loss… Clarification?
There are very few sites short of private forums that have all pro traders. The ones that hang out in here we are grateful for.
Its not important if there are a few pro traders here. What is important is for the newbies to learn the fundamentals of trading. How to complete a trade. Strategy wise, I don’t think i will completely trust on some “pro trader” if I don’t personally know him. If the strategy works for you, it doesn’t necessarily mean it will also work for me. there are plenty of factors to consider. For me, I only trust my own judgment.
If you are a full time trader like me, maybe we can work together against a bigger enemy. I am a swing trader, not a scalper. If you are a good match, let me know.
No, I don’t think the markets are random. Never forget that behind all the fancy computer screens there are other living people behind, who drive the price. The key to success in my opinion is to learn about what people would do at the markets. If you are better than 50:50 to guess what others do, it just then needs a bit work to identify good entries and exits.
For instance: Just right now I guessed to identify that people stopped loving the euro. Result: 50% profit in 4 weeks swing trading. I guess it will continue with the ambivalent feelings among the euro, but we will see.
There are people who live off gambling… and yes, FOREX is very tied to gambling… if there are people who still survive on this, is because they know how to gamble and make a profit.
BTW, I don’t know anyone who has been making a big profit each month with FOREX, besides those who have blogs or forums with banners and earn a commision per signup.
you have a lot of people on forums saying they make a living off forex, but then you find they rent a 1 room apart on suburbs and barely pay their bills or break even.
I don’t think you’re correct in generalizing. Yes there are fakes and eventually those weed out with time.
My goal is to one day trade for a living and live comfortably. Getting there is always a bumpy road, you can’t win every month but you can try. Its the experiences and perseverance that gets you where you want to be.
I guess it is with investors as it is with all other professions. There are lousy butchers and brilliant butchers. So it is with traders.
No, I guess there is a difference between gambling and investing. An investor if he makes his homework can’t lose all over time. If he collects information about the markets and ground lessons, then he can survive or even grow. Not to say for a living. That depends on personal preference and money. I feel as investor that my 50% profit is fast money. So, I will be very careful if I take my next ride. I focus more on risk management now. Experience from the last losses will help me with that.
By the way I am an investor since years and I lose and win, but in summary I made profit. I am not rich, but I do not live on others credit and I pay my bills. I know a lot of people with a job and no traders and they don’t. So, that is not related.
If by gambling you mean that there is an element of chance to the forex trading sure. But there is a difference between making an informed decision on a trade based on both fundamental analysis and technicals, and throwing a dice down a board. I agree with the above sentiments, it can seem like gambling, if you go on pure feels and make randoms trades.
yah it CAN be gambling, but is not SUPPOSED to be gambling. That’s the difference.
How can somebody compare forex to gambling ? It’s called ‘gambling’ for a reason … although I admit as a former professional poker player there are various strategies and rules to live by but it’s still considered to be 90% luck and 10% skill. Bottom line is that in forex with some experience and the right software (maybe a bot) you can earn easy money and minimize the risks of loosing a big chunk of your money. Whilst in poker you can easily loose everything in a single hand where you’re almost sure you’re dominating the table.
P.S: Sorry for the poor English, I’m not a native English speaker.
Best Regards,
Matt Jones 
.
It is not a gambling. Even gamblers Professionals can make stable income in gambling, for this reason Forex professionals can make stable income in Forex market.
If you are professional and you know what are you doing it doesn’t matter if it is poker game or forex market.