(7) Taking a Chance !

This post could have been called the difference between gambling and setting odds in your favour, but it seemed a bit long. Or you could say gambling is like being taken for a ride, whereas the techniques here is like taking control of a slippery situation! I do hope you are appreciating the pictures, they are not random. This one is the remarkable Brad Patton one shot he is being 'Taken for a Ride' and in the other pic he is 'Taking Control of a Slippery Situation'. Now gambling is being taken for a ride really, but just like we see here it can be a very pleasureable experience! Getting stiffed can give you a stiff! Personally i do like to gamble a bit, if you have ever had a problem with drinking steer clear of drink if you gamble away all your money steer clear of gambling but if like me you like a flutter then keep within your limits and enjoy it. When we play the Forex, like ice skating you have got to learn the tricks of staying still, moving fast or slow, cutting your losses when the risks are too great, turning, twisting and going with the flow,etc, you have got to learn that you can do this and enjoy this and it is not such a risk as it looks to the observers. Gambling is playing the lottery, which i enjoy doing, buy a ticket and enjoy the thrill of seeing if a number comes up. By the way only ever buy one lottery ticket per draw as statistically it is pointless to buy more unless you buy around 20,000 tickets only then do you really start to improve your chances of winning big, so just buy one ticket per draw on any one lottery you do - do the maths you will see i am right ! There are in fact over 50 big lotteries worldwide, i play most of them with a ticket and rarely win anything but love it anyway. If you live in UK you can buy Premium Bonds (check the Links) - here you keep your stake and instead of earning interest, the interest is paid out as winnings for lucky bonds that are drawn randomly - again i love this. In UK there are funny betting laws, the advantage is that all gains from winnings are tax free the downside is that if a betting firm takes your bet they cannot be forced to pay you your winnings! I use betfair online as everyone is online putting their money there on what they are betting on, say a race to win or even to lose etc, so if you do win you do get your money, i like this also you can work out your own strategies and play them if you like, so if you have figured out a system give it a try online. The advantage of all this is that there are various forms of chance taking and mainly gambling, but when we play the Forex it must be approached seriously like any other job you are not being stiffed for fun you are skating on ice! The advantage of Forex trading is that for tax purposes in UK all profits are tax free but also you are covered if you use a trading/spread betting company authorised and regulated by the FSA (Financial Services Authority). But hey getting stiffed can be fun just regulate what you are doing, i always find that if i gamble a little and paly lotteries it fixes in my mind that that is gambling and when i play the Forex it is a serious business i go about it in a very different way!