I totally agree with this , 100%
i still, to this day, keep looking around .
fact is… i don’t really have to , but i still keep an eye out
i mean we all start on Currency , don’t we , it’s just how you hear about it all
i then looked into commodities later down the track, coffee, soya etc
then i looked at Metals, then i looked at indexes
then the Crypto thing came in, i looked at that
hell… i even looked into become a broker
and Getting an AFSL Licence
then i had that idea that we all have,
how about we trade for others and make a crap load of money… hehe… yeah… it was good at first.
HEADS UP… More headache than what it’s worth, and when you are making a good amount of money… THIS THOUGHT WILL OCCUR TO YOU… Why do i need to bother with the BS
that’s what i thought and so i didn’t bother. simple as that.
for what i want to do … Not worth doing.
but, i digress.
but yeah… always keep looking around and experimenting , i mean if you don’t, you’re basically dead in the water and restricted to let’s say THE MAJORS… right ?
Speaking of which have you looked at currency ETFs. I haven’t personally but I think that would be a good bet for newbies or those with a lot of capital and an interest in forex that want to take a longer term view based on the fundamentals.
Not in too much depth, but i’ve skimmed over the idea.
you know this is a good topic, because they all jump in on currency to begin with
and i found that they commonly jump into EURUSD, GBPUSD or Bitcoin hehe
it’s always one of the 3
then you find they get creative…
so STAGE 2 of Newbiness
the bitcoin guys decided to say "Nah… stuff bitcoin, i’ll go with Etherium " hehe
The EURUSD crowd seem to think that EURUSD is a Major currency (and… yes it is) but wait for the punch line…
they then do something like EURGBP And they believe since EUR is part of the pair that it’s still a Major, Not realizing what they just did
the GBPUSD guys… usually stick to this because they are SO BLOODY PROUD TO BE ENGLISH that to trade , Even the EURUSD would be an insult to Queen and Country
i think a pair needs to be developed for these guys, it should be the LONDON/USD Nothing less will do
anyway my serious point was…
Newbies need to start on other things
i mean , i suggest that a lot of the people that i teach start on US2000 it’s a nice one to start on, they then like to jump into NAS100 (which i don’t recommend at first)
but i think this is a good topic, Newbies should look at US2000 or ETF’s definitely
i mean they jump into EURUSD it rips them a new… You know what and they then blow their account out.
When you go to College to LEARN A TRADE, to learn a skill, let’s say the skill is to Cut Hair to be a hairdresser.
DO YOU LEARN TO GET LUCKY FOR 4 YEARS ?
do they sit there figuring ways out how to not stuff up the haircut EVERY SINGLE TIME
well yeah… they sort of do… right
IT’S CALLED A SKILL
it’s not just luck
and the richest people in the world, are they just lucky HEHE
i highly doubt it mate, actually i know it’s not true
this logic makes no sense
you can argue Forex vs Gambling as much as you want… ok
but to say that a skill is luck… I’m sorry , you lose that debate hand down
as for forex vs gambling
well. depending on how you do it , it could be either one
The great golfer Gary Player once said to a guy, after he chipped in 6 balls in a row from a bunker and the guy told him…aaah that’s just luck…, yes you are right sir, the harder I practice the luckier I get!
I disagree with @anon81929759 here, as he knows. Yes there is skill in trading and you have to learn it. BUT each trade has an element of luck, just as each hand played by an expert poker player has an element of luck, and just like poker, you get “BAd Beats” and “Lucky breaks” - but over a period of many repetitions the poker player with the skill will bancrupt the one with lesser skills.
That is how forex works too ! POker and Trading have many parallels.
Each trade has probability and luck. Overall Skill will out. (Usually)
With all due respect @anon81929759 - I think “the other bloke” - is a “sheila” - "His " name appears to be Annie !
Clearly not a native English speaker - and thus I think your construct of words must be considered disingenuous !
ok, my bad
i saw CRYPTO… something something (DIDN’T REALLY PAY ATTENTION) so ok, my bad
beyond that, Non english speaking or otherwise, the way i interpreted it was that she believed it was just luck.
benefit of the doubt is fine and i’m all for it, but that’s just the way i took it
The way I see it is, you might be lucky in terms of encountering an opportunity to make a good trade and then, it’s your skills and psychology that will enable you to recognize and take advantage of the opportunity by executing the trade at the right moment, with the appropriate size, leverage etc.
Yes, if you completely depend on luck without knowledge and experience then it looks a great excuse. Forex market is too much volatile and there is nothing 100% in here but this trading place doesn’t break its own trend at all. so, completely depending on luck just a part of immature trading activity.
