Wednesday, August 15, 2018

Is Trading A Gambling?

Learn how to trade Forex.
Often times, people have a lot of misconceptions about trading that leads them not to be able to enjoy the opportunity to earn from it. These people are often times, those who have not experience trading themselves yet. People who have close minded mentally thought that investing in such activity is like gambling or get rich quick scheme or such alike. If you are a beginning trader and you have families or friends that are skeptical about trading then I advise you that you should let them read this article because it will clear up their skepticism about trading. Read on...

Is Trading A Gambling? Really?

Most people think that trading is a form of gambling because of the way the market is structured and the way beginning traders trade the market. Some beginners who have not read books about trading thought that trading is so easy that you only have to place a bid or ask, and after that just have to wait for your money to earn and voila! You are now a trader! Or maybe a gambler?!

People don't realize that before you coould start trading, you have to analyze the market first that requires you to learn about technical and/or fundamental analysis before you can start trading the market. It also requires every trader to be patient and disciplined because you have to wait for the right moment to start trading. You can't just go straight to the charts and guess which way the market will go and start trading. That's not the way professional traders trade!

You have to read a lot of trading books and start practicing the systems you have learned from it, into your demo accounts before you start trading in a live account. If you're a beginning trader, I advise you to read books about the basics of trading, money management and especially books about trading psychology.  You can check out my recommended books on this page.

Trading is a profession. In order for you to be a consistently profitable trader, you have to acquire a trading skill.  A good analogy for this is "when a person who needs to have a brain surgery, who do you think will have a higher probability of success in the operation? a person who just watched a few days of Youtube videos about brain surgery or a Neurosurgeon who have studied medicine for 5 years and another 5 years of their specialization and has acquired a skill from practicing it? I think you know the answer. 

Speculation is a game of probability. The more edge you have, the higher the probability that you will end up winning a trade. Let's go back to the analogy, if that neurosurgeon will operate on a person's brain, Of course, he will have a higher probability of success in that operation rather than someone who had just watched Youtube videos or from just reading a book.

If you are someone who is pessimistic about trading and stumbled on this blog or someone who is trading without a system, check out my page on how to learn the Forex market. You will be able to read some quality information in order to get you started learning the Forex market. Here is the link of the page.

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