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So are you rolling dice to decide if you go long or short at a predetermined price level, or are you executing a trade based on informed market price action and personal experience?
Why do we educate ourselves to become consistently profitable traders? You don't have to get an education to roll dice or pull the lever of a slot machine . Poker is another story.
Trading is ultimately gambling with an edge, but no responsible self respecting person wants to consider their livelihood or pursuit to be a irresponsible gambler.. The big question is when you have an edge, is it still gambling? Should it have the same negative connotations as what is traditionally associated with the term "gambling?"
When you enter a casino, who is gambling, the casino or the players?
Why are casinos so concerned with those that can count cards?
How much edge does the casino and card counters really have?
How much edge do you need?
Why do some poker players consistently win?
Why do some poker players consistently win while other winning poker players make the killings?
Why do some good traders become consistent while others become George Soros?
I've been demo trading on Oanda MT4 for the past 2 weeks or so just to get a feel of their system and see if I like forex (If I actually do trade forex, I want to go with a ECN but the broker I have in mind is quite hefty for a beginner, and from …
in my book, Luck is nothing more than seized upon opportunities. I believe you make your own opportunities (luck) in life. Those who go out and "do" have way more opportunities than those who "do nothing". Of course, once the opportunity is presented you still have to make good decisions on what to do with it.
Those who make a lot of bad decisions with opportunities are considered to have bad luck. Those who make a lot of good decisions with opportunities are considered to have good luck. These are extreme ends of the spectrum. Everyone else makes up the middle.
