A Trader is a Gambler
It is a well known fact that in any business, one will be presented with both risks and a certain, occasional amount of luck. All types of trading, especially in business ventures such as that of a Forex investor, can be highly comparable to a gambler who places high-risk wagers in order to earn a bigger profit.
A trader can oftentimes start out naïve, not knowing exactly what to do, just as a gambling beginner may make choices, be it right or wrong, and rely heavily on luck. Although, similar to how a gambler may slowly learn from his mistakes and learn to play his cards right, making bets at the correct moment, such too, is the way of a Forex trader! As he gains more experience, he learns to read, study, and understand the charts and gets the knack for the flow of how the market works.
A gambler can take a good amount of time learning and perfecting his craft and improving his skill in game play, and such a mindset is highly comparable to the Forex trader seeking success, wherein time and experience plays an important factor in improving his skill, knowing that there are no shortcuts, nor exact formulas to learn. A lot is to do with how one can develop his trading skills, and this can only be done by gaining more experience and putting in more time and effort into learning the flow of the market.
A forex trader may sometimes experience the fear of taking losses, and backing out of trades far too early than is necessary, just as a gambler would during a game of poker for instance. Both may fear failure, and the thought of incurring even more losses could be a blow to their ego. However, both may subscribe to the exact opposite as well! Instead of fearing losses, they would want to add on to losing positions or double down, in the hope that their losses may be recovered. They are amazingly similar are they not?
In gambling, a player can take it to the next level and become a compulsive gambler. In Forex trading, the investor ventures on with the same psychological flaws. He can be engulfed in the excitement of trading in the market, making him feel the need to be part of the "game".
A certain amount of luck, coupled with strategy are the weapons of both the trader and the gambler, which is why a clear mind and a good amount self-control are very much important to both. Both the Forex trader and the gambler realize the high-level risks they have to take and thrive on them. And that is why there remains a gambler in the heart of every trader!