Is forex Gambling??

[dhoee476]

i think forex is not gambling. forex needs a lot of knowledge to learn and there are many many systems out there. while gambling doesnot require any knowledge and you can start gambling in seconds.e-g to play on roulette table you dont need to master any strategy or skill just place your bets on the table and if you are lucky your number will come up.

we should not compare froex with gambling. its a genuine business. if forex was a gambling why there are many indicators out there. why not people just buy or sell currency randomly instead of following technical or fundamental analysis.

those people who think forex is gambling they are treating forex like that. they are playing it like gambling and loosing everythime.

but those people who think this is genuine business they respect it like a business and use skills and strategies needed to do it.

[crosshairs]

There's already a current discussion pivoting around this subject doing the rounds on this section of the forum called "is it worth forex trading" which you are already contributing to.

Why the need to replicate it & fragment/repeat the discussion all over again?

[dhoee476]

There's already a current discussion pivoting around this subject doing the rounds on this section of the forum called "is it worth forex trading" which you are already contributing to.

Why the need to replicate it & fragment/repeat the discussion all over again?

bcz there the headline of thread is "is it worth forex trading" and here the headline is " is forex gambling"

so lots of people will not know without going inside the thread what is going on.

[crosshairs]

Then had you not thought about maybe contacting the Admin via e-mail or the 'report post' facility & asking them whether they would be so kind as to transfer the comments from post #23 on page 3 of the other thread across to this one so you could ensure the subject matter flowed?

There are 30 odd posts on that other thread which form the basis of this new contribution.
It's not rocket science to use ones initiative & request that the pertinent posts be picked up & dumped to this one in order that the theme of the subject matter merges & continues to run smoothly.

[witsnpips]

gambling is luck - trading is skill. BIG difference.

[dhoee476]

[QUOTE=crosshairs;214706]Then had you not thought about maybe contacting the Admin via e-mail or the 'report post' facility & asking them whether they would be so kind as to transfer the comments from post #23 on page 3 of the other thread across to this one so you could ensure the subject matter flowed?

There are 30 odd posts on that other thread which form the basis of this new contribution.
It's not rocket science to use ones initiative & request that the pertinent posts be picked up & dumped to this one in order that the theme of the subject matter merges & continues to run smoothly.[/QUthe

the qusetion in last thread was totally different " is it worth forex trading"

and the question here is entirely different " is forex gambling"

[this barb]

gambling is luck - trading is skill. BIG difference.

Nah.

Gambling does not have to only equate to luck. Card counting requires skill. Even straight poker requires skill. Opening your own business is akin to gambling.

In every scenario above, you're betting on uncertain, but NOT equally distributed, odds. Your money goes in, and more money may or may not come out.

[johnnykanoo]

My best friend plays Texas Hold'em. He is really good because he practices, he has refined his techniques. He can read people. It is most certainly a skill that he has developed over the years.

My mom used to be a card counter who was kicked out of more than one casino for playing blackjack. She played her whole life and was the best blackjack player I have ever known. It took her years and years to refine her skills to a point where she was at a champion level.

Is forex gambling? This is not a cut and dry answer. Because something requires skills does not define weather it is gambling or not. Do you put up money to make money? Is the outcome/result something that you are"betting" on or "speculating" on? The fact is even though it is hard work, and even though it is a refined skill it is gambling. That is my opinion. We like to be refined and call it speculation but it is the same thing. The only difference here is we can test our approach, and get our odds well above 50/50.

We don't know the outcome
we put up our own money to earn money
When we win we are taking from other participants in the market
Yes I call this gambling

[TalonD]

gambling is when you bet on something that has a random unpredictable outcome.

in a casino, roulette is a gamble for the customer. It is not a gamble for the casino. Because the game is rigged in the casino's favor. 5.25% in the case of the even money bets.

Games of skill like poker or blackjack are a gamble if you do not have skill. They are not a gamble if you do have skill because the long term outcome is certain. If you develop the necessary skills then you can put the odds in your favor.
The outcome of each hand is still random, but you gain an advantage in the long run.

Actually the argument could be made that even roulette is not gambling because the long term outcome is certain. If you play it long enough you are certain to have less money than you started with. It becomes gambling when you think that you can play it without loosing.

Forex is a game of skill.

And actually forex prices are definately not random. They are chaotic but not random, there is a big difference.

well that's my opinion anyway...

edit:
well here's an interesting animal study on gambling.
FuturePundit: Monkeys Prefer Gambling Risk To Sure Reward
And here we are a bunch of hairless ape decendents...

[simbafx]

why not people just buy or sell currency randomly instead of following technical or fundamental analysis.

Thats exactly what I do, buy and sell randomly.

Its probably not the most efficient entry, but it makes an easy 100% return per annum with very low risk.

Forex is gambling. Generally speaking, those who think its a skill tend to lose, and those who realise the truth of the situation, tend to win. There's a lesson there if you want to learn it.