Do any of you Gamble?

[fx7q]

I feel like any other casino game or slots or even sports betting is at best 51vs49 (in favor of the house)

[forexcrisp]

Every trader who don’t have any strategy is actually gambling in the market. If you are following a strategy then using a high lot at times is not gambling.

[davidcraigson]

Yup… I walk outside and drive in Eastern European traffic nearly every day. If that’s not gambling, I don’t know what is!

[fx7q]

forexcrisp: 100% agreed

[Panache1]

I don’t consider FX as a form of gambling for a number of reasons.

1. You can get out of a trade when you like either manually, or with a pre-determined stop loss. If you betted on a horse race, or a football game you cant minimise your loss before the end of the game or race. If your team is down 10-0 or your horse is at the back of the field, that’s it, your money’s more than likely gone. You can’t go to the booky and say ‘can I have 50% of my money back now, because things aren’t turning out as I expected’. I suppose binary options are a bit like a horse race, I would consider binary options as gambling.

Yeah I’d agree with you both ST and Kingkev, I think the flutter I’d felt was more the fact a strategy i’d worked on was coming to fruition and was working, but you’re right it’s dangerous and making it a mechanical process is the best thing you can do. It’s interesting to hear different views and opinions on whether it is gambling or not, and KingKev I actually think you’re points have swayed me more towards your view, i’d definitely agree that Binary Options seem more of a gamble, not going near those anytime soon.

Binary Option might have the excitement of gambling but it’s not. Gambling is associated with a probability about what proportion of time an outcome should occur. [B]A binary option is quite different as the trader can effect the probability of winning.
[/B]

All the best

John

'To expect the unexpected shows a throughly modern intellect" Oscar Wilde

I don’t know a great deal about them… but from what i can gather it becomes quite the gamble because of manipulation by the brokers, i’ve heard some shady stories recently, and threads popping up, much like this one here on babypips:

301 Moved Permanently

I’ll be staying away from them for now

Some binary options brokers (GOptions and NADEX for example) have a buy out feature where you can sell the option back to the market maker (GOptions) or the market exchange (NADEX) if price goes against you before the end of the expiry (or if you just want to take profit early). In that respect, it’s possible to control risk with BOs. But yeah, there’s plenty of bucketshop white label market maker-style brokers. They’re just like all the shady FX bucketshops.