However distant such activities as the Forex trading and alcohol consumption may seem at a first glance, at a second one it’s possible to notice some weird similarities that draw parallels between the currency speculations and drinking. Some rules of drinking work perfectly in the
- If you trade Forex too much or drink irresponsibly, without stop you’ll end up in trouble. For the foreign exchange it will be an account balance wiped by overtrading, while for drinking it can result even in more serious problems. Don’t forget that you decide how much you drink or trade, not your friends or the market.
- Same as with alcohol, when approaching to Forex trading, you should be very careful deciding where to trade (market conditions), what to trade (currency pairs) and with whom you trade (your broker). Otherwise, it may end up wrong for your positions like it would end up for your health and
- One of the most important rules that the Forex traders usually learn too late is never to trade when you are tired or hungry. Look at your drinking buddies — they’d never drink on empty stomach or when they are already feeling dizzy from the lack of sleep. So remember that the foreign exchange market shouldn’t deprive you of your normal sleep and food consumption habits or the market will deprive you of your money.
- Try it first before you decide to taste more — it’s a good rule that works fine for beverages and at the same time is essential for the currency traders (especially the new ones). Always test new strategies, methods, brokers, trading instruments, etc. on demo; switch to real account only when you are sure that you like the results.
Of course, this all shouldn’t be considered too seriously. The similarities were drawn just for fun. But always remember never to “Drink and Trade”. Of that I’m talking seriously. If you have some comments or know other fun similarities between Forex trading and whatever else, please, reply via the commentary form below.