Forex trading gives the same recipe gambling through high returns and available growing deliberative leverage for traders . Well, a majority of Forex traders owns same gamblers mentality - they want to make more profit quickly . The idea of getting on the deliberative process Winning big is that attract gamblers and Forex traders to do what they are doing .
Gamblers do not seen in Forex to what they are doing as a business, instead , they are entering into the Forex markets enthusiastically dangerous. But the side that differs from the Forex market for gambling accurately , is that traders can use one of the guaranteed methods, such as the trading price movement to give themselves an edge over the market.
majority of traders based on hope Acting, hope to make a profit from the following process and hope that they can to make up for the incurred losses. When in Forex traders based on the hope acting they walk in to a very dangerous area , you can call it gambling in Forex .
Do you gamble in Forex ?
In order to determine whether you are actually gambling in Forex, ask yourself the following questions :
- Do you have an advantage over the market?
- Is the risk more than 5% of your account?
- Do not trade with money you can lose ?
- Are you waiting for the major achievement of the deliberative process ?
If your answer to these questions is yes , there is a high probability that you are gambling in Forex, compared to the professionals, who are trading in a more professional as they are running a business .
What can you do if you are trading with the mentality of the gambler ?
aware of the fact that you are trading in Forex gambler mentality is troublesome , but it is possible to bypass this by dealing with trading like a job or business. All business has a deliberate plan , and the situation should be applicable also to trading. You must have your plan of action on the following elements :
- Understand the level of risk in all deliberative process .
- The rules of entry and exit .
- Management of trading rules .
- Times that will wipe out the market.
Realism about what you can achieve in the action plan is essential. It is possible that you realize Forex trading profits on an ongoing basis , but if you open an account valued at $ 1,000 , do not expect to make a million dollars and to leave your job , this is what is considered gambling in Forex .
In addition, you must retain all business with data of the money earned and money losers , and should have the same data of your trades . This data must keep track of all the things such as trading operations that have been and the results, including profit and loss and how to manage your trades .
Start acting like a professional trader.
professional trader Does not look to the market as a game or a place where the dangers of doing great , and they know that Forex trading is highly dependent on risk management . Never enter in the correct mental and Be professional in your risk management . Stop increasing the strength of the deliberative and improve your skills in financial management and how to protect the downside without reducing the potential for the positive side search for forex forum and fine out more .