Ten principles that make a trader not a gambler


  Man forextradingwebsiteonline people think they are traders, but they are really forextradingbrokerwebsite like gamblers when they feel they can trade the forex market like a roulette wheel in Las Vegas forex trading site also expect a lot from it. The difference between a trader and a gambler is actually similar to the difference between a casino and a gamblerRichard Weissman (note. well-known trading system developer and trainer of trading and risk systems, author of books such as "Casino Style Trading Strategies" and "Mechanical Trading Systems") has said cashback forex trading should be like a casino and that this way of thinking can really help traders make profits The Casino Advantage Why are the casinos in Las Vegas so large and bustling, where the vast majority of gamblers are losing money? The casinos have a statistical advantage over the players in the game if the more someone wants to try to win at the casino, the more likely he is to lose it all instead Each game has a limit on how much to bet, so players cant double their bets all the time to win, and the casinos have the same control over the size of the game to ensure that the risk taken is within tolerance The casinos dont risk losing business and profits, and they set limits on the game to ensure that no matter The casino has a huge deal, and this advantage will always be under the control of the size of the game, making the casino the ultimate profit maker. The casino also has the advantage that it does not have emotions casinos do not care about any player, much less whether the player wins or loses instead, gamblers have all kinds of emotions, they want to win and lose and then want to get their money back, so they will usually They usually bet more and more, especially when they lose money, they bet more and more, expecting to win back the lost money, but in the end, they just lose more miserable and gamblers have a strange image that can not be broken, that is, after continuous winnings, they do not leave with the money, but choose to continue to gamble, either the attitude becomes arrogant, or bet more, or gambling, until finally lost again In short, gamblers are destined to lose money Ten principles that make a trader, not a gambler 1. Trade according to the probability of profit, not potential profit 2. Choose the right position to trade, always give priority to risk management, profit is only the second place 8. Losses on trading bias