My point is words doesnt matter… at the end of the day, its earning and being in profits that counts… many here refuses to call it gambling because they have been taught not to gamble, its bad, you always lose, addictive, for stupid people and stuff… others that believe it can be call gambling saw the similar traits in gambling n speculating… then call it gambling.
what actually happen: speculation(guessing the future) causes people to gamble, invest, trade…
future is unknown and regardless of what happens in the past will only serve as a pattern that the user may for may not capitalise on their future bet/investment/trade.
investment/trade I called it worse than gambling because without proper knowledge its more dangerous with you handling loan/leverage. the house will never give you a loan/leverage to play poker. You play with what you have to lose. thus the risk management is easier. the problem with most trader is playing “scared money”(poker term)… thus a quick loser by letting loser run. or always premature closing of winner.
The only real difference in a gambling speculation and a trading speculation is that in gambling, a newbie in gambling wins more often than a newbie trader.
Forex trading is very high risk short term financial trading and is perfectly suited for gamblers… and for them is gambling. However for those with lots of fx financial trading experience and large bankrolls it is not gambling… thats because it really is financial trading, where skill and knowledge can prevail.
The reason there are so many comparisons between gambling and financial trading is because of the Forex brokers that provide fx trading in a retails package to people that are not equipped to deal with it… and it is often promoted like gambling too. Lets face it a gambler with no trading skills let loose on wall street would be considered a gambler… but an experienced wall street trader is considered, well, a trader. …and thank god they dont just let anyone on wall street for “retail” trading.
Yes i agree just like other business we should take a risk in forex trading ,thats why risk management is important to learn in forex to avoid or limit our risk taking.
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.
Aside from the fact that gambling is risk created for the fun of it and Forex is an actual market of commerce, it has been my experience that gambling is easy compared to Forex.
Poker and Blackjack have set odds and simple systems can be used to get a winning edge any time you sit at the table. You can count cards and you can play only the top hands, but trading has way more variables. In short, gambling has a guaranteed percentage return for the house or the gambler who counts over time, but in Forex sometimes the whole deck seems to change.
I think so! Traders need strong psychological power with enough technical and fundamental knowledge! In addition, the success ratio is around only 10%, but till now Forex is the number one business because of its flexibility!
Forex is definitely not gambling if done correctly.Correctly in the sense with proper knowledge of reading charts and doing business in the market.
Those who don’t have both the skills definitely look at it as an option to make money like quick rich scheme and try to become a millionaire (definitely for them forex is termed as Gamble)
There is no connection with gambling! So definitely, which traders are trying to follow shortcut way of money making here, beyond doubt they will lose their money! Forex trading is all about, concentration, determination and hard work!
I remember answering this question a long time back.
Over time, I’ve come to rearrange my thoughts on this topic. I’d be very much inclined to suggest that trading is indeed gambling, at a professional level. It’s certainly not a mirror image of what we know as true gambling in the sense of going to a Casino - but with that being said, trading/speculating is and always has been a ‘game’ of probabilities. You can never ever predict in this industry, what you can do though is form an edge over time with a large sample size of trades.
As I always say to others who ask what I do - You are only as good as your bankroll.
Master_Tang, I think you’re a little over the top in your criticisms of “retail forex”.
These days, pricing is accurate and brokers are not betting against clients; all
of that is in the past.
ECN’s are “fair”. But, let me quickly point out that there’s nothing really “fair"
about entities with nearly limitless funds, as against the individual trader who
usually is not able to sustain significant “price adversity”. Yes, the ECN’s are
"fair” but is it fair when you are wrestling an “800 pound gorilla” even if both
contestants are playing by the same “fair” rules?
My point, I hasten to clarify here, is that the individual trader must understand
that the “big gorillas” which are the large global trading operations, are
definitely manipulating market pricing, and retail players must take that into
account.
This does not mean Forex trading is reduced to “gambling”. But it DOES
mean that unless you have a significant Technical or Fundamental "edge"
that you are merely guessing and, therefore, you are merely gambling.
The Forex market has unique “internal constraints” which make “calculation
of an edge” easier than in some other markets. For example, Currency Strengths
and Weaknesses can be calculated in a straightforward manner. On an
appropriate timeframe, this can provide the trader with an “edge” sufficient
to make a “business” out of the “gambling”.
We say that forex is not a gambling but most of the traders deal with it as gambling as they had not proper plan and strategy for trading. Just enter in market as they see trading platform. No experience of risk taking and management will make forex as we are using our money for gambling.
I never think forex is gambling it is quite different from gambling. In forex you have to decide at every step what to do and how to do . However if you are not having knowledge and practice of trading you will use your capital as gamblers do .
Forex does remind me of gambling but it isn’t really gambling at its core. I believe that it definitely has its issues and I can see how it can be taken as gambling, but by that logic all investment is gambling.
Always keep these considerations in mind, that forex trading is not gambling. When you accept this, you’ll find that your decision-making improves, and you’ll be able to learn how to construct lucrative trading techniques. Forex trading is not the same as playing a slot machine.
