The question is whether any currency trading can be regarded as more than just a gamble.Forex is not gambling. Due to the fact that, indeed most users will consider Forex trading as a luck game it’s no surprise that the results are anything but spectacular. So, in all respects, going for the money market with such a view will not benefit your system, you can even consider it like a lottery if you don’t have the necessary knowledge. The margin for success is also debatable. You would therefore consider that the 50-50 equation is quite equitable but let’s not forget the sums that go in as broker fees. If you add these to the calculation the margins can be said to erode, even more if you consider human error in the process.
You may consider the Forex paradigm as a means of riding a wave. The impact of individuals on the system is limited, so to better the chance, to make the balance tilt in our favor we have to make informed choices all the time. Knowing the trends and the way they might change in the foreseeable future is the way to go. Never underestimate the power of knowledge and only then you will be able to have a better chance than 50/50. Which is what you should stride for. The Forex market is influenced by a number of macro economical factors. The prices of oil and other goods is taken into consideration, the overall value of events ranging from political to the employment laws and regulations, even disasters and other unforeseeable factors they all contribute to the uncertainty element in trading. Those can be said to influence the market the most but in which way is not necessary easily predictable. This is due to the fact that a currency is viewed from a number of points, each having it’s certain disposition and appeal. Working on your trade by following some indices like unemployment indexes or some other economical graphs is clearly a speculative maneuver, having it’s dose of uncertainty and possible good income. Another way of seeing the system involves a more technical approach. It utilizes the so called signal, that is gathering information about certain pairs and using it only to the point of reversal, maximizing the wins. If you were to compare it to any other system this one can yield results as good as 60% to a max of 80% but is also labor intensive and involves a clear cut knowledge of the market. By using automated signaling techniques you will be able to profit from those trends even if you are not sufficiently versed in noticing every aspect of the whole business. Even more, the better you are at using this mechanized technique you will be able to automate it and reduce the number of time spent on the browsing of charts. You can even let it work by itself with just a few corrections made from your part.
Forex is not gambling or game where you need to predict what will happen. Forex trading is real full time job, where traders need to make analysis, monitor trades, make decision, wait opportunities.
