30% trading is gambling.

[ForexVerified]

Shhh.... don't ruin the surprise.

For those who don't like surprises like this, it's not just massive price spikes. Weekend gaps can be large and if your SL is exceeded, you'll be filled at the next available price. So, until you have established a comfort level with the markets, it's safer to close all trades an hour or two before trading ends on Friday and then re-evaluate and reopen (where appropriate) the next week. Yes, this will cost you a few pips, but it could save you a lot more pips.

Indeed. And weekend gaps happen more often than unusual price spikes.

 

[emma342]

If there's a massive spike the price can jump over your stop loss and execute at the closest price. It can be hundreds of pips away. You control your exits most of the time, but occasionally you'll be surprised.

I never seen such move (I checked 50 years of Fx history) which was Resistant to Resistant or Support to another support. Yes, market gap could happen but not hundreds of pips. And you can control it before the weekend if such event remain ahead of weekend.

Trading news in short time-frame is gambling for new traders. But you can prevent it learning a better strategy.
New comers most often gamble by taking huge risk and not following risk management.

Forex Trading is not gambling it is few traders who are gambler.

 

[emma342]

Indeed. And weekend gaps happen more often than unusual price spikes.

A 20-50 pips gap is not the difference between a day and night unless you are a Day Trader.

A swing trader don't care such gap as they keep following the price action in higher time frame (Mostly D1).

 

[ForexVerified]

I never seen such move (I checked 50 years of Fx history) which was Resistant to Resistant or Support to another support. Yes, market gap could happen but not hundreds of pips. And you can control it before the weekend if such event remain ahead of weekend.

Check CHF pairs in January 2015. Also JPY pairs tend to have similar moves (May 2010 when Procter and Gamble stock error made the stock market tumble in a few minutes). There are many similar examples. If you stay long enough on the Forex markets you will get to see such moves.

 

[ForexVerified]

A 20-50 pips gap is not the difference between a day and night unless you are a Day Trader.

A swing trader don't care such gap as they keep following the price action in higher time frame (Mostly D1).

20-50 pips aren't much. But we leave in turbulent times, everything can happen during the weekend and move the price more than that.

 

[nahiyar]

If you [plan for low pips with 30% risk it is possible you can make safe profits. But it also need to handle trades with care and skill . Otherwise traders with less experience can loose much with this% of risk taking in forex trading.

 

[Jeff Martinez]

Compare a professional gambler who plays the odds with a casual gambler who hopes to make money if he gets lucky and measure the results. Similarly, there is a difference between a professional trader who relies on a systematic approach, discipline and prudent money management with a trader who relies on luck as much as skill to stay afloat. Of course, there is a gray area in between these two extremes where many retail traders reside.

 

[nahiyar]

People who not care for results they treat forex as gambling . 30% risk is really a gambling for me. I will take highest risk of 5% . Market had unexpected and unusual moods how one can dream just for profit. When wee realize loss we are careful , take small risk that we will handle.

 

[Desacete]

To be honest, I kinda agree that, to some extent, forex is a question of luck. It's a game of chance in a way)

 

[Beldavash]

In a sense, any kind of investment is gambling - including forex, CFDs, stock market, even buying a house or opening a savings account at your bank. For me the real question is what steps can we - and do we - take to minimize the "gamble" of trading. The analysis we use, how much we are willing to to invest, when to open and close a position, or which assets to avoid like the plague. Nothing is a guarantee, but there are things we can do when trading to give ourselves an edge