True. As traders, we’re fools in a wise world i.e. a world of big players with inside knowledge and massive automated systems, a world of avaricious and unscrupulous brokers who prey on our naivety. As poker players we’re wise in a fool’s world i.e. at the lower stakes tables we can calmly read and exploit the fumblings of exhausted and intoxicated amateurs chasing their losses. That’s why I get far more satisfaction winning at trading.
It depends on how well you manage your risk in currency trading…
True, guys/gals, I have a short on @ 8:58 pm CST for AUD/USD, (1.3700) wish me luck, market slow moving right now…
I did not read here a lot of money management which, from my point of view, is the most important in poker, gambling, forex am life, I think this is the most common thing.
Cheers
Absolutely eliescuadrian; I had to put another short on AUD/USD at 1.04127 along with the first @ (1.03700) 2nd position was the charm, out @ 1.03724, good trade. Point being, I could have cut the loss and bailed, but I knew it had to at some point fall off. In no way am I suggesting anyone to follow my trades thinking I know it all, I don’t, not that kind of guy, but how this plays into the thread is, many ways I could have manged a loss. You all know them, but I’m a little bold and trust my system. I don’t like trading 2 different pairs at a time for diversifying, and if I have to, I get out and wait for the next entry, whatever pair that might be. If you are playing poker and have the most money at the table, you can bully your way out of a hand, although I have seen people come back after being almost out and win the whole match, with Forex, we all know you can’t do that; but you can stay in the game longer 
I did mention emotions , psychology … similar isnt it … :30:
I never played poker so I don’t know about emotions and psyhology
I strongly disagree and I play poker online since 2006. Winning at trading is much harder than winning at 2NL, 10NL online or 200NL live, but there’s no real money involved in 2NL and 10NL. And live you play so few hands/hour… you can’t make much money if you’re grinding 200NL live. If you want to win real money in online poker you must play 400NL, 600NL, 1kNL which are very tough to beat.
At trading I use mainly the daily charts and only price action with no indicators and I find it’s a lot easier to win than at poker.
Imo u all all correct. It comes down to how the individual views what they are doing. I enjoy (as sad as it is) looking at charts and drawing supporting trend lines etc and get excited when I think I’ve stumbled across a great setup so am I viewing this as a fun game? Maybe sometimes yes? But that’s just me.
I have 3 labtops on my desk … one playing poker … the second trading forex … third charts … i play poker on the other hand watching the charts and price watch waiting for the best price to trade … when iam doing that i feel as if iam laying on pipi island beach :18:
That’s funny, and a good way to look at it. I’m also an artist so I do that until a setup to trade, sometimes the best trade is no trade at all, so taking the day of from it all and enjoy Thanksgiving with family.
Blessings all;
C~
There will be always discussions that Forex is all about gambling, well it is true and it is not true. Gambling is more like guessing and using psychology like in Poker game where in Forex you won’t be able to scare your opponents from taking trades etc… Different thing is when you play a game like poker with real people and trading forex by computer, totally different things.
Why I call forex not a gambling thing, it is because 90-95% people fail and to understand why they fail makes the other 10%-5% group profitable. Psychology plays important role in forex, not everyone can be a trader, like not everyone can be a poker player etc…
There different types of gambling, if you talking about slots game - thats gamble… 100%… playing against machine, if you are talking about poker thats not 100% gambling because you are playing with real people, so some strategies can be used, the same with forex - trading with people = strategies can be used. There are super fast computers that makes lots of trades automatically, but thats not the point, the point is that forex is not gambling.
Forex is forex. What one does with their money in Forex is debatable whether or not it’s gambling.
With all casino games, the house always maintains an edge. Regardless of what strategy you implement, you can only attempt to reduce the edge but never eliminate it. To win, there is only luck. And when the reliance of success is based solely on chance, that is gambling. For if given an infinite amount of time, when you don’t have an edge you will always go broke.
Forex can be gambling if you fail to produce a consistent edge. The broker always maintains their edge in the game. Some people have seen momentary success through luck when ultimately they never produced a true edge in the market.
The larger the sample size of your trading, the more reliable the determination can be that you have an edge.
It would be wise for the young trader to assume you are working at continually obtaining an edge, then to assume you already have one.