Why do you trade forex?
Let me guess...
Because you want to make a crapload of money and be able to buy anything you wish?
While this is a perfectly valid reason, it will most likely lead to excessive greed and ultimately lead to your trading account's destruction.

You might as well take your money to Vegas instead, and gamble it away.
Once your money is all gone, at least it was entertaining.
Greed is the worst motivation for trading. The market will always punish greed and will always reward moderation.

Never try to make all of your money on one trade.
Never try to make all of your money on one trade.
If you do, you are not trading, you are gambling!
There is a fine line between traders and gamblers. When there is real money on the line, there are always those who take blind chances.

If you want to be a successful, do NOT think like a gambler, do NOT take blind chances and do NOT solely rely on luck.
Luck comes and goes just like the gambler.
It's the trader who remains.


The difference between trading and gambling is, for me, enormous.  But I must admit that for a lot of ‘traders’ (or ‘speculators’ which is probably more accurate) there really isn’t any difference at all.  Even though I didn’t realise at the time, I started out as a sharemarket gambler.  Now, however, I am not. To me, these are the differences -

• A gambler is in it for quick bucks.  A Trader knows that profits often take time.

• A gambler is caught up in the excitement.  A Trader knows that the job is boring, repetitive and mundane.

• A gambler has the odds against him.  A Trader has a back tested edge that, over time, will consistently win.

• A gambler focuses on the potential for winning, with no concept of risk.  A Trader focuses on the risk before anything, knowing profit will come as an after thought.

If you are involved in the stock market, does your trading style sound more like that of a gambler, or a trader?   You might be surprised!