It’s easy to see the comparisons and I would say is a bit of gambling. If you don’t know the result you are gambling on it going the right way
Think people think.
Wikipedia tells us that gambling is “the wagering something of value (“the stakes”) on an event with an uncertain outcome with the intent of winning something else of value .”
Another online resource tells us that it is the act of taking risky action in the hope of a desired result.
Now after reading that how in heaven’s name could anyone with even a half a brain conclude that forex trading is anything BUT gambling? Why do YOU trade forex…to lose or just for fun? Whether we like it or not …FOREX TRADING IS GAMBLING!!!
As a matter of fact even people who participate in the activity of farming are gambling. They are expending money to buy inputs and pay for labour in the HOPE (not certainty… they are taking a chance) that thieves wont steal their crops, drought or floods wont wipe them out, pests dont destroy it and the price will be high when they are ready to reap. This is so simple and basic I have to really wonder how is it that everyone seems to be struggling with it and coming up with all sort of garbage reasoning to justify what is obviously a flawed position. These are the same people who glibly tell us about RISK REWARD RATIO, lol. What does the word risk tell you???
In the same way that people do their homework and have a good idea of where price will end up in the next hour and place a winning trade accordingly, there are people (who are called gamblers) who also do their homework and know that Shelly Ann Fraser Pryce is going to leave the highly overrated Shaccari Richardson in her wake when next they grace the running track and place their wagers accordingly.
Please think people think… and cut out the mindless follower sheep business.
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I especially like the use of the word “wagering” in the definition you have used.
I tell people private retail forex trading is betting, for which wagering is another perfectly good word. They don’t believe me on that one either.
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I have just started to use the Ignore For Ever function on babypips. which means I have not been perturbed by the last three BS automaton replies on this thread.
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You just made me realize that I can mute all these users so thank you. For people who are tired of spam replies with no point I would recommend to use the Ignore function on these users: @MithcelRobert @waltoncharles @RosiePalmar @StankaVitanova
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Yes, appreciate your statement that Forex isn’t gambling. Some people are greedy so they adopt gambling tactics.
Forex isn’t gambling but some people rely on gambling to make large amount of profit.
I really wish I could give this post 20 likes. Nothing short of truly brilliant!!!
Brutal and true. Rather than worrying about what is gambling, it’s better to learn from the attitudes and methods of successful longer-term traders/gamblers to avoid being one of the many Forex casualties.