Wager Mage
Wager Mage
Photo: Pixabay
There are three common types of gambler, the professional gambler, the social gambler, and the problem gambler. Be aware that the problem gambler will often believe themselves to be, or pretend to be, a social or professional gambler.
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Read More »There are three common types of gambler, the professional gambler, the social gambler, and the problem gambler. Be aware that the problem gambler will often believe themselves to be, or pretend to be, a social or professional gambler. Professional gamblers are the rarest form of gambler and depend on games of skills rather than luck to make money. They have full control over the time, money and energy they spend on gambling. Social gamblers consider gambling to be a valid form of recreational activity and maintain full control over the time, money and energy they expend on gambling. They consider the cost of gambling to be payment for entertainment. Problem gambling involves the continued involvement in gambling activities, despite negative consequences. Gamblers can have a problem without being totally out of control. Problem gambling is any gambling behavior that disrupts your life. If you’re preoccupied with gambling, spending more and more time and money on it, or gambling despite serious consequences, you have a gambling problem. Gambling addiction is an impulse-control disorder in which sufferers cannot control the impulse to gamble despite the fact that it is causing problems in their lives and the lives of their loved ones. All gambling addicts are problem gamblers, although not all problem gamblers have a gambling addiction. While there are no obvious symptoms or physical signs of gambling addiction as there are in other types of addictions such as drug and alcohol, there are some red flags that signal a problem:
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Read More »We can create Fibonacci retracements by taking a peak and trough (or two extreme points) on a chart and dividing the vertical distance by the above key Fibonacci ratios. Once these trading patterns are identified, horizontal lines can be drawn and then used to identify possible support and resistance levels.
The golden ratio of 1.618 – the magic number – gets translated into three percentages: 23.6%, 38.2% and 61.8%. These are the three most popular percentages, although some traders will also look at the 50% and 76.4% levels. 50% is not a Fibonacci number, but has proved to be a generally popular number when correcting a primary or secondary price move. For now, we will focus on the 50% and the two more popular Fibonacci percentages of 38.2% and 61.8%. These are then applied to the chart to try and figure out potential hidden levels of support or resistance in the market. When the market drops back to 38.2% of its previous rise (the first major Fibonacci retracement), traders will check to see if any buyers come in. If this 38.2% level gets broken, then the expectation is for the 50% retracement to be the next target. If the market slides through that 50% retracement level, then traders will look to see if the market finally stops its decline when it has retraced 61.8% of the prior move. For most Fibonacci followers, if it breaks through that 61.8% level, it means that the market direction is going back to where it started. We can create Fibonacci retracements by taking a peak and trough (or two extreme points) on a chart and dividing the vertical distance by the above key Fibonacci ratios. Once these trading patterns are identified, horizontal lines can be drawn and then used to identify possible support and resistance levels.
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