However distant such activities as Forex trading and alcohol consumption may seem at first glance, a detailed looks lets you notice some weird similarities that draw parallels between the currency speculations and drinking. Some rules of drinking work perfectly in the online Forex market.
- If you trade Forex too much or drink irresponsibly, without stop, you will 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. Do not forget that you decide how much you drink or trade, not your friends or the market.
- Same as with alcohol, when approaching 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 badly for your positions like it would end up badly for your health and well-being with drinking.
- One of the most important rules that Forex traders normally learn too late is never to trade when you are tired or hungry. Look at your drinking buddies — they would never drink on empty stomach or when they are already feeling dizzy from the lack of sleep. So, remember that the foreign exchange market should not deprive you of your normal sleep and food consumption habits, or else the market will deprive you of your money.
- Try it first before you decide to taste more — it is a good rule that works fine with beverages and, at the same time, is essential for currency traders (especially new ones). Always test new strategies, methods, brokers, trading instruments, etc. on demo first; switch to a live account only when you are sure that you like the results.
Of course, this all should not be taken too seriously. The similarities were drawn just for fun. However, always remember never to "drink and trade". And this is a serious advice.
If you have some comments or know other fun similarities between Forex trading and whatever else, please let other traders know via our forum.
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