This forex trading looks more like gambling

So is this forex trading thingy more like investing or much closer to gambling? It seems that the forex market is at random, and it is a zero sum game (no product is produced, no business is created). The only winners here are the brokers.

For the traders the odds are against our favor, there is the overnight rollover rate which deducts our account everytime we leave it open every night. There is also the risk that a broker would close shop and/or not return our money. Or not return our money at all.

And then again, if everybody looks at the same chart and have the same interpretation on a chart, it just means the market will just keep on adjusting by itself. A system that wins today, or this month ,has a more probability of losing by next month, because the market is adjusting and changing.

And the spreads are just terribly off the chart. This is more like 25% commission per trade. Try to observe how much is deducted on your account for every trade. Say you invested $2, you will see -50 cents on your account already.

We have to be aware of all these things.

Would you wonder why there are so many brokers and so many advanced and state of the chart services and charting? Its because good money can be created here.

4)[I]Always people will look for easy options and always someone will be happy to take advantage[/I]

wow what pairs are you trading the british pound vs the lost city of atlantis’s dollar? :stuck_out_tongue:

[QUOTE=profitforextrader;160642][QUOTE=pipsodent;160640]

And the spreads are just terribly off the chart. This is more like 25% commission per trade. Try to observe how much is deducted on your account for every trade. Say you invested $2, you will see -50 cents on your account already.

wow what pairs are you trading the british pound vs the lost city of atlantis’s dollar? :stuck_out_tongue:

Maybe GBP/Martian dollars

i dont think its even forex his trading, maybe endangered species?

or maybe his adding the spread, tax, electricity costs and even his food bill to it?

LOL
what broker trades TIGER/DODO ?

the same one that trades the atlantis and martian dollar :stuck_out_tongue:

Probably an Icelandic broker then

Gambling is good if you own the casino, and that’s what you have to do with forex. find the trades that put the odds in your favor. and they are out there.

4pip spread if you have a 20pip take profit is a 20% cost. but if you have a trade that runs to 100 or 200 pips that cost % becomes less.

would you rather have 75% of a million or 100% of nothing?

Those who fail in business almost always look for someone else to blame for their deficiency.And the easiest thing to do is to blame someone for our problems.The same thing that causes someelse to fail is the same thing that causes someone else to succeed.So,It is not a gamble.It is a trade and in trade you can either win,break even or lose.
Good luck.

Only an ECN/STP broker would charge commission, but at the same time you are getting institutional spreads. If this is not the case, then you are getting scammed, obviously. I don’t know of many (any?) ECN brokers that allow you to use nanolots, either.

I don’t like to hear people complaining like they have years of experience in trading business, as I’m a noob I get confused and they’re only more newbies trying to blame everybody else!

ALL trading, investing, speculation IS gambling. You are without a doubt making a bet that one set of circumstances will occur over another. You will gain if you are right, you will lose money if you are wrong.

The differences between good gambleing and bad gambling are the same for trading. You combine high probability winning set ups with money managment, with the understanding that you will sometimes lose no matter what.

Make no mistake, “investing,” “trading,” “speculation,” are different words for the same thing. And yes they are all gambling. There is no guarantee any one of them will work out for you profitably AND there is no one who can predict where the price of any market will go with certain accuracy.

The difference between people who can do it profitably and consistently is if they are good gamblers, or just the type who would walk into a casino and blindly play slot machines and hope.

P.S. as far as if many traders look at a chart and see the same thing…that is a good thing, more people in the same direction at momentem to the move and make it more powerful.