Captain_Walker
Education

Can you go to a casino and not gamble?

FX:EURUSD   Euro / U.S. Dollar
Of course you can! Studies on so-called professional gamblers show that they are not actually gambling like the average punter. They are fearless, have an organised system, and take their losses like a fine breeze. These are the people most hated by casinos but loved by others.

There isn't a proper term I've come across to separate so-called professional gamblers from the 99% of ordinary gamblers. So, sadly they are still classified as 'gamblers'. Look, if you went to a casino, wouldn't you like to have their skill? Yes you would - let's not kid about it.

So what have they got that you haven't? How did they get it? We're they just born with a skill for gambling? Of course not. Read up about it. These were ordinary people who practised for years to gain a particular skill.

There are no hard studies on what percentage of traders are consistently profitable. Estimates vary from 1% to 10%. It has also been estimated that only about 15% of hedge funds are actually profitable consistently (reputable source in a youtube video). But that never stopped people from joining hedge funds i.e. people may prefer to gamble their money in hedge funds because they think it's a safer bet.

Here's the bottom line: If you wanna become a brain surgeon, a pilot, a top class lawyer - anything like that - it's hard work. You will have spent thousands of hours getting there - and you will suffer losses getting to ''the promised land"!! So too if you wanna become an expert trader you gotta do the same. Sorry - you just can't read the manual, attend a few courses, apply some technical indicators and go make millions. If you think so, you have a nasty surprise waiting for you.

Success means persistence, dedication, hard study, learning from mistakes, developing sound strategies which have been shaped by you for you over many years - and most importantly conquering your inner enemies.
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