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There are, of course, a involving traders marketplace who are selecting much cleverer strategies than "Buy and Pray". Frequently use charts and technical analysis and work their trades on moving averages, Fibonacci lines, Bollinger bands and etc. They might go short occasionally to benefit from an expected downward move, but the "gambling" element is there - weigh up which direction the stock most likely move in, and have a position on that basis.
However, even with the best foreign exchange trading strategies, a Forex investor can also make losses due towards the lack of discipline. The analogy, even though everyone is aware that we should stop once the traffic light turns red and only go once the light turns green, but there are still many people who try to strike the traffic light by driving past quickly in the event that the light is reddish colored. Similarly, many Forex traders, especially beginners, would be tempted to trade, even when the signals are not right. Aggressiveness is the # 1 losing factor for many Forex speculators.
