We Don’t Talk About This Much But….
IF forex is “gambling” as I have suggested in the past – maybe most of you are not gamblers so let’s look at it as a gambler would.
This is ONE (1) example of what can be done IF you approach forex as gambling.
FIRST OFF I think gambling gets a bad rap (losing, addiction, etc.) BUT what if you approached gambling as a “profession”?
In gambling you simply need a “strategy” – that is missing from the gamblers I meet all the time.
Short side note; yeah I started gambling once I understood how to win at forex (no secret, a good robot with the right mathmatics and getting over my fear of loss).
So, with that being said – here’s an example of how my gambling mind works.
In my case, getting rid of the “fear of loss” was as simple as starting with a small bank roll and building it up.
Loss to me if when you lose from your original bank roll or deposit/balance.
So, if you are the scared money type you can start with say – $100.
In gambling with a good strategy (martingale) you can double that $100 in a few hours even bidding conservatively.
In gambling I would bet the minimum of Roulette/Red using “martingale” bidding [where I double the bet when I lose].
And right there I lost more than half of the readers of this post – because many have either been burnt by that technique OR have been told it is terrible – when in fact doubling your bid on every loss is simply a factor of bidding low enough to allow your bankroll to last long enough in a losing streak.
Its just math really.
In Forex trading, I would take the $100 and start trading on a fast mover such as US30 or Gold/XAUUSD – but you can also slow down a little and trade GBPJPY as an example.
I personally have the skillset to place say $500 in a trading account, double that in a week or two and then I am off to the races, building that to 3-5k then 10k.
What bots am I using along the way?
THAT my friend is the value of a membership to my system; plain and simple.
I use a combination of manual entries and automated entries at first and as my bank roll increases its easier to go full automation on the larger amounts.
For example a 2% growth per day can double your account in about 4-6 weeks (in the forex market).
I have in the past taken $300 to the casino; doubled it in a few hours; then I take that $600 and start a trading account, trade that (gamble it?) into 3K over the next two weeks, then take that 3K to 30K in about 4 months with small targeted high risk trades on US30 & Gold (using automated/bots of course).
NO I don’t always trade those pairs – I like to trade in a grid or a double hedge and if I feel the pair is trending (I don’t really like the trend, I like to trade in a range of pricing up and down).
If the market is going crazy I might switch to a pair such as GBP which seems to move (again as long as the price is ranging and not trending) – and IF it begins to trend against me I use a “recovery” system that I plop on the chart and let it get me out of that market movement.
How do you learn all of this; you become a subscriber or license holder to my system/training/insight.
We mastermind – share ideas and constantly test and move forward.
Fact is you can do this on a demo account and build huge confidence doing so with fake money.
My point is…
You start small, take calculated risk and build up a bank roll – then when/if you DO lose then you either only lose a portion of the bank roll or you can even lose it all and its only losing the winnings; you are not worse off for attempting but rather you are building an amazing skillset.
Is forex gambling or investing?
Well it’s as simple as this; forex can be investing if you have a large bank roll (at least 10K) and IF you use an automation and bid at the most conservative level (.01?).
Investing typically means an 8-20% gain per years.
Forex gambling is when you are going for 10% a day as an example.
When forex becomes gambling is when you do what MOST traders do; you try to turn 5k in to 10K in 3 weeks.
Its all based on how much profit you are going for (are you trying to get rich overnight?).
If you wanna get rich fast; you better have the skillset – and that only comes from practice in taking risk.
Are you a forex investor or a forex gambler?
I do both; and if you see the power in having this skillset with money – I’ll be hearing from you more I’m sure.
Terry
FXwithTerry.com
