Without fail, one of the first comments people would make was,. Firstly, there are a number of Forex traders who are able make consistent returns from trading the FX markets. The reality is that successful Forex trading is a highly skilled business that is not like betting at all. So why do some people manage to maintain an edge in gambling, or an edge in trading? It is how you respond to profit that is more important. If it was, then the whole stock markets would become obsolete and the people who can see what will happen will be multi-billionaires. His imagination is big just as mine so I belived every process, I realised we make a lot of profit but we end up in loss in the same position.
yes I still think forex trading is gambling, I tried it before though I did not understand much of what I was taught and loosing a lot of money made me realize I was just like a punter in a different platform of betting.
All of these factors mean a higher probability that this trade will make us money, and it did. We can learn something from casinos.
Then wait for the strange look they give you. Do you think trading is gambling? Just as many other asset classes such as equities, debt etc. So, although Forex is not gambling, just as any other asset class, one could gamble in forex - definitely not recommended: No forex is not at all gambling.
Well to the uneducated person or the inexperienced forex trader, it would appear to be very easy to arrive at this conclusion, particularly if you start watching the chart of any currency pair and observe how it moves in a seemingly random fashion.
However many large financial institutions around the world, and indeed individual traders, make consistent profits from trading forex markets, so you can be pretty sure that they're not gambling away huge amounts of money every day at random.
There are of course many different ways you can give yourself an edge trading forex. The main way is of course through technical analysis. This is basically the study of charts and technical indicators to identify trading patterns and help you find potentially high probability trading positions. They work so well because traders all over the world watch the same charts and the same technical indicators and see the same patterns repeating themselves over and over again. This allows them to take positions knowing that the price will most probably behave the same in this instance as before.
Very interesting question, definition of gambling is where your win or loss totally dependent on luck. I studied about forex for six months straight, then I simultaneously traded a demo account and continued gaining knowledge for two more years, then I thought I am ready to trade forex, my first investment was to just get my feet wet then gradually I increased my account and converted it into pure businesses.
When I place a trade I do all my homework, I look at my checklist and determine should I trade it, there is solid homework behind any trade on the other hand there is no such background work when you gamble and this is the biggest deference. When I place trade I have strong reasons behind instead of gambling where you are totally dependant on luck. If you trade forex or whatever blindly and depend upon luck then forex also becomes gambling otherwise it's a pure business. This page may be out of date.
Save your draft before refreshing this page. Submit any pending changes before refreshing this page. Ask New Question Sign In. Is forex essentially gambling? Simple options trading guide.
Most options traders lose because they don't know this simple formula. Learn More at prtradingresearch. You dismissed this ad. The feedback you provide will help us show you more relevant content in the future. Hire fundraising experts to prepare for your next round.
Toptal matches top startups with experts in fundraising, financial modeling, forecasting, and more. Start Now at toptal. Is trading forex market anything other than gambling? Why is losing easier than winning gambling, Forex, shares?
Is Forex trading not almost like gambling? Does Forex really work? To risk losing an amount of money in a game or bet To play a game in which you can win or lose money or possessions To risk losing something valuable or important in order to do or achieve something Notice a common theme? Learn to Think in Probabilities It all comes down to putting on trades where the probable win is higher than the probable loss. So is Forex trading gambling?
If you want to become less dependent on stock-based investments, consider the following strategies. Learn More at yieldstreet. I think I made my point. It can be if you have no discipline!!
Forex trading should and can be all about making a smart investment, taking the time to learn a system or strategy, practice and test it.
You can make a living out of trading if you treat it like a business. There are thousand strategies out there that have been tested for years and can produce a lot of money over time if you follow the rules and never let your emotions get on the way. An amazing and proven strategy would be Harmonic patterns, which are geometric patterns that repeat over and over again on any price chart. Search google for it and you will be amazed by the amount of free resources to learn this strategy.
Everything you need to sell tickets and manage registration for any kind of event. Available to over countries worldwide! Is Forex Trading the same as Gambling? I have been asked many times "Is Forex trading the same as gambling?
Yes, it is gambling when one treats the Forex market like a huge Jackpot machine or Roulette table where the hope of winning is dependent on nothing else but pure luck. The problem with casino gambling is that the odds are stacked heavily against the gamblers. Trading "blindly" in the Forex market with no plan or strategy will cause the Forex gambler to lose money just like any game of chance.
The consequence is worsen when the Forex gambler does not apply stop losses in his trading. No, it is NOT gambling when one treats the Forex market like any other business or profession where opportunities can be seized and risks can be mitigated. The difference between the Casino and the Forex market is that, most are games of chances with the former vers u s a contest of strategy for the later.
Unlike a game of chance, the Forex trader can rely on price patterns and analysis to decide on the opening and closing a position with a probability of winning in his favor. One of the main issues with gambling, is that it is addictive. Gamblers step into casinos with nothing but their hope to make money. When they lose money, the desire to recover losses will lead them to gamble more, and often more aggressively. A Forex trader can easily become a Forex gambler when he lets his emotions dictate his actions to trade impatiently and illogically.
Unlike gambling, trading is much more than just betting on an outcome. A good trader has and adheres to a trading plan that gives him the statistical edge of w inning. He monitors the trades in progress and trail his stops to maximize his profits and minimize his losses. Automating his profitable trading plan will give him the added advantages of freeing him the time to trade around the clock and without the emotional ups and downs that can cause many good trades to turn bad and bad ones to become worse.
The buying and selling of currencies is no difference from the trading of goods which we try to buy at a lower price and sell them off at a higher price to make a profit.
The entry barrier is low. A trader doesn't need a University degree and years in practice to trade. The daily swings of a hundred PIPs or more for the major currency pairs offer the astute traders ample and unmatchable opportunities to ride the trends or to take the profits.
The earning potential is unlimited and the freedom to work for yourself is priceless for those who care to master the skills of trading. A good trader is like a successful surgeon or business owner. The pre-requisite is for them to master their skills before they can start to earn a good living for themselves. The Holy Grail in trading is no different from good practices adopted and perfected by these professionals and businessmen. They adhere to proven principles and adjust their approaches to changing market conditions to stay ahead of their competitions.
Forex is Gambling or Lottery ?
Is there a difference between forex trading and gambling? I have been asked this question on more than one occasion and it is a good one as it can make the difference between failing and having a. Forex is not gambling at all. The definition of Gambling: Gambling is the wagering of money or something of material value (referred to as "the stakes") on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods. Is Forex trading really just gambling? which suggests for skilled traders FX is not akin to gambling. If it’s possible to make a legitimate distinction between Forex and gambling, why are there so many people who insist that Forex is simply gambling in disguise? There seems to be a number of reasons why this idea of Forex as a type of.