What is Forex - page 2

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Forex is a money-making machine or simply a game for YOU?

Hello guys!

Is Forex simply a game to you? Or it just a money-making machine for you?

Some people consider trading as a game take it as a challenge . And enjoy trading when ever he get a winning trade. Never feel fed up trading

Somebody else stated that Forex is not a game but it is a source of income/living. Require a good money management and trading strategy to grow up our capital

What's your opinion on this my friends?

 

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Some basic Soros' trading principles:

  • Some people spend all day talking to their brokers. Soros “prefers to talk to a select few people who can be really helpful ….” Then you need to think and read and reflect.
  • To be successful, you need leisure. You need time hanging heavily on your hands [to talk to people, read, and think].
  • If you have an investment thesis you like, run it by people who support the other side of the argument. See if you still like the thesis afterward.
  • Basically, the way Soros operates is to have a thesis and then he tests it in the market. If the market goes against his position and he feels uneasy (e.g. gets a backache), he cuts his losses.
  • What he took was basic information from various sources and kind of mulched it in his mind. Then he would come up with a thesis that most of the time was valid.
  • When Soros believed he was right … no investment position was too large. Holding back was for wimps. The worst error in Soros’ book was not being too bold.
  • The key to investing is knowing how to survive. That means at times playing conservatively, cutting losses when necessary and keeping a large portion of one’s portfolio out of play.
  • If you are doing poorly, retrench. Don’t try to recoup. And when you start again, start small.
  • To be in the game, you have to be willing to endure the pain.
  • Perhaps Soros’ most distinctive feature, the trait that explained his investment talents the best, was his ability to gain membership in a very ‘exclusive ‘ club that included the leadership of the international community…. Such encounters clearly gave Soros an advantage over other investors.
  • Invest first and then investigate … form a hypothesis, take a toehold position to test the hypothesis, and wait for the market to prove you are right or wrong.

So, there is no clear boundary between the two (game and / or business) even for Soros

 
Peter Brandley:
Hello guys!

Is Forex simply a game to you? Or it just a money-making machine for you?

Some people consider trading as a game take it as a challenge . And enjoy trading when ever he get a winning trade. Never feel fed up trading

Somebody else stated that Forex is not a game but it is a source of income/living. Require a good money management and trading strategy to grow up our capital

What's your opinion on this my friends?

It is a very difficult to be separated because the forex can make people addicted to either a loss or a profit so it depends from which side we see

 
Peter Brandley:
Hello guys!

Is Forex simply a game to you? Or it just a money-making machine for you?

Some people consider trading as a game take it as a challenge . And enjoy trading when ever he get a winning trade. Never feel fed up trading

Somebody else stated that Forex is not a game but it is a source of income/living. Require a good money management and trading strategy to grow up our capital

What's your opinion on this my friends?

We all know that forex involves money. Professional traders have studied the concept of forex to earn profit. They consider it as a their profession and take it very seriously. I only started trading few months ago and I enjoy trading especially when I win. But it sounds better if I say that forex is my source of income rather than call it simply just a "game"

 
Peter Brandley:
Hello guys!

Is Forex simply a game to you? Or it just a money-making machine for you?

Some people consider trading as a game take it as a challenge . And enjoy trading when ever he get a winning trade. Never feel fed up trading

Somebody else stated that Forex is not a game but it is a source of income/living. Require a good money management and trading strategy to grow up our capital

What's your opinion on this my friends?

I am serious to forex because I know it will help me to be a successful person in the future because I am new here and still wants to achieve my goals in life though others are just playing forex maybe they got a lot of money in trading that is why they are just think that forex is just a game.

 

Actually forex trading is similar to stock and share. Like George Soros, Warrant B., Jesse Livermore, John Templeton, etc

 
Peter Brandley:
Hello guys!

Is Forex simply a game to you? Or it just a money-making machine for you?

Some people consider trading as a game take it as a challenge . And enjoy trading when ever he get a winning trade. Never feel fed up trading

Somebody else stated that Forex is not a game but it is a source of income/living. Require a good money management and trading strategy to grow up our capital

What's your opinion on this my friends?

Hello, Peter! Your definition of forex is rather interesting. I can add that for many traders forex is both a game and a way of making money. It is not for people who have no patience or problems with nervous system. Usually, when a person starts forex trading the very process begins to engross he or she completely. In many cases it doesn't even matter you make money or lose money. But as I have already mentioned in forex your emotions must stay calm. If you have a good strategy and devote all of your time to forex then it will become a real source of money earning.

 

If it worked, everyone would use/do it and then nobody would make money. Actually, if it worked, it would be a closely guarded secret making a fortune for the person who created it. Same goes for robots and a whole list of phony baloney good time rock and roll BS.

 
jigsaw:
Hello, Peter! Your definition of forex is rather interesting. I can add that for many traders forex is both a game and a way of making money. It is not for people who have no patience or problems with nervous system. Usually, when a person starts forex trading the very process begins to engross he or she completely. In many cases it doesn't even matter you make money or lose money. But as I have already mentioned in forex your emotions must stay calm. If you have a good strategy and devote all of your time to forex then it will become a real source of money earning.

Yes, in order to trade well you need to control your emotions and be patient always or else you will be in the hospital and all you money will went to hospital bills hahaha... just be serious in trading and don't treat it as a game

 

Forex is known as a market in which currencies are traded. In a process of Forex, exchange and conversion of one currency to another is done easily. It is a big market and usually called global market. Forex market is helpful in trading between countries and allows an opportunity for risk seeking investors. In simple words Forex market is a process where buyers and sellers conduct foreign exchange transaction. Moreover, according to estimation $4 trillion goes through foreign market each day.

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