Random guess on GBP

Discussion in 'Trading' started by farmerjohn1324, Feb 4, 2020.

  1. I mentioned trying to trade based on hunches I have about the economy. So a few hours before Brexit a few days ago, I put about $10,000 of fake money in 16 currency pairs betting on the GBP. (Total $160,000). So far I'm losing on every single one, but it's only been a few days. I'm down about $47,000 of the $160,000.

    Despite how random this seems. There's something about this kind of "trading" that seems more real to me than analyzing indicators. But I'll do what works (if anything).
     
  2. danielc1

    danielc1

    This kind of trading is called gambling.
     
  3. How is it any more gambling than day trading?

    For all I know, I could end up being correct if I wait. But in real money, I would never have that amount of money to tie up like that on a hunch.
     
  4. danielc1

    danielc1

    Any kind of trading without the work and a plan is gambling.
     
  5. Work? I've educated myself about the economy for years. That's why it's still so frustrating that my odds are still no better than a coin toss.

    Looking more closely, GBP had a run up leading up to Brexit, then fell after.

    It's not like there's a school you can go to to learn about this.
     
  6. danielc1

    danielc1