I myself ‘cracked’ yesterday out of sheer boredom and the knowledge that even today would have been a ‘non event day’ for my markets / instruments (and I was indeed quite right) so I ended up buying some ‘el cheapo’ wine from the supermarket because the bottlestores were closed so no Rum. I must say: for £6 I got much the same ‘effect’ as I get from a £15 or so bottle of rum but today, funnily enough, other than being tired, not much of a hangover at all!!! LOL!!!
You have to admit though, being able to say “I’m a professional gambler” does sort of sound cool, regardless what people think about gambling (and what people here think about forex and gambling, heh).
That’s also true. What’s really funny is that I’m told that the ‘key’ to being a successful professional gambler is adhering to strict risk and money management rules!!! LOL!!!
That used to work pretty well back in the 80’s nightspots of the square mile (financial district of London) Dale… especially if you were! LOL These days with most types having their pension funds slashed by 60%… when they’ve finished castigating you for the ills of toxic debt and the banking crisis, which incidently had nothing to do with the ‘poor down trodden’ floor traders lol. Its probably wise to say you work in advertising??? :18:
Personally, I always said I worked as a writer for ‘Mills & Boon’ (pulp romantic fiction books) in an attempt to reach across the devide, you’d be suprised the number who actually belived me! Not sure it helped any… probably thought I was light in the loafers? [B]LOL![/B]
The Collins dictionary says…To speculate without knowing the complete facts… Well, in Forex or Trading in general a pro will at least try to know as much as possible about making trades to get the advantage in his/her favor. So, in my opinion you do have an edge. Games have a science, it is called Game Theory. Also, there is probability theory…where a science is applied to predicting possible outcomes. So, trading does have science involved which even though you can classify it as speculate or gamble the science of it does give you an edge. And I won’t know about Trading theory until I can prove it to myself that I can indeed put the odds in my favor that I will win. Then and only then can I say Theory=fact But!~ You can look into gambling and it has been proven that you can increase your chances of winning by repeating certain plays(depending on what your playing) dice, cards, even pool. The trick is to figure out which way to roll the dice, knowing your aim, and knowing your card game. So, you can put these risks in your favor. In fact many people make there sole living and get rich on knowing the in’s and out’s of probability theory. I read part of a book on probability theory and it stated that probability theory can be used for good or bad. If you know a lot about probability it can be used in your favor to harm or help other people or entities. I wish i had completed the book, but it was so complicated I had a hard time understanding a lot of it.So, in my opinion you can get rich or indeed make money in Trading. If you know the probabilities.
That’s the funny thing about the forex, or currency futures.
You will NEVER know the complete picture.
You might be looking at a great opportunity to sell, but the futures traders for Toyota need to convert a large amount of the pair you’re trading. You just can’t see it.
And you can look at the orders lists they try to keep you updated on, like forexlive.com, but they never have the whole story either.
The guys that move this market are experts of disguise, or they would never succeed.
So every move we make as retailers, is pretty much a shot in the dark. It’s all about identifying your best probable, or opportunistic setup, with the highest reward, to the lowest risk.
Nothing else is even worth wasting your money on.
Therefore, every time you pull the trigger, it’s a gamble.
