Due to high risks, forex trading is often compared with gambling. Is it right? I think its not right. Trading is completely different from gambling if you are incorporating the right strategy after doing a proper analysis of market.
Oh good lord, here we go again…hahahaha
Regular as clockwork, another gambling thread bubbles & splutters to the top of the pot.
It’s ok, there’s no stigma involved in accepting & embracing what it is you’re [B]actually[/B] involved in. Quit fretting, chill out & enjoy a punt on the stock & currency markets.
You’re not going to get arrested or ridiculed for placing bets on your favorite instrument.
Man up, stop stressing about irrelevant nonsense & just get on with it.
The sun will still rise tomorrow morning!
The irritating thing about this is that new member’s posts are apparently subject to screening by a moderator prior to inclusion onto the forum.
So how come they don’t practice efficient thread/topic management by simply slotting this guy’s comments onto the end of one of the existing & currently active gambling threads instead of starting yet another pointless topic?
It makes no sense whatsoever to allow yet another mirror thread to exist when there’s a plentiful supply of this rubbish clogging up the forum already. It’s not as though it offers a totally fresh perspective on the subject, it’s just raking over the same tedious old coals.
Come on moderators, use a bit of common sense.
It’s very common instances such as this amplifies the argument as to whether newbies to the forum should be allowed to start threads before they have a minimum amount of posts to their name.
There’s a minimum 50 post barrier in place for private messages, & it would probably benefit the forum as a whole if novices/newbies were encouraged to utilize the search facility first before simply starting threads & making comments/asking questions that have been answered multiple times on current & live threads.
After all….research skills, initiative & common sense are attributes that will certainly be required if they wish to stay alive in this game for any length of time.
I would totally agree that forex trading is exactly the same as gambling.
In both situations you are looking to get an edge over the market/house but in the end of the day all you can do bet you money and roll the dice.
The main difference is depending on your strategy your odds in forex trading are better than at the casino
[QUOTE=“rindoan;690113”]I would totally agree that forex trading is exactly the same as gambling. In both situations you are looking to get an edge over the market/house but in the end of the day all you can do bet you money and roll the dice. The main difference is depending on your strategy your odds in forex trading are better than at the casino :)[/QUOTE]
There is no mathematical way to obtain an edge over a slot machine or a lottery ticket.
There is a mathematical way to obtain an edge in Forex.
I don’t have to hope. I just apply my trading methodology repeatedly and the numbers work themselves out. That simply is not the case at the casino.
It’s got sweet sod all to do with casino or any other comparisons, neither does it matter how much or what quality of analysis you perform. The fact remains you’re speculating or betting on the movement of one currency v/s another. That denotes it as gambling.
If your speculative order was a nailed on certainty you would have no need or requirement to protect that order or your capital in the event of a possible loss.
But you do. You also employ risk management & that defines it as a bet, punt or gamble.
To make yourself feel better or ease your psychological anxiety you can call it whatever you like. Unfortunately it doesn’t hide or mask the reality of what you’re engaged in.
It’s so funny & not at all unsurprising that the only outlet you see this weird debate unfolding is on retail trading boards.
or as Bono would say;
[I]“only in america”[/I]
Gambling requires hope. I believe the word hope is actually included in the definition.
When you have solidified an edge, that negates any hope. From there it’s a pure numbers game where the more you roll that die or draw a card or pick a stock, you will come out ahead.
Forex allows for that. The stock market allows for that.
Casinos have constructed the games that they will always maintain the edge. That’s why they can payout 97% of what they take in and still make billions. They have an edge.
Therefore is a casino gambling against you when you sit at a blackjack table? Of course not.
Likewise, when I sit in front of my chart and place a trade I know I’ve already won. It’s only a matter of having as many opportunities I have to exploit that edge.
What is the difference between forex trading and opening a clothing store?
What is the difference between forex trading and opening a Chinese Restaurant?
What is the difference between forex trading and riding a motorcycle?
What is the difference between forex trading and Christian ministry?
Better line of questions: What is the most moral business? Immoral? How about the most beneficial industry to society?
You’re obviously bored & attempting to whip up a little controversy & mischief because someone who has been around this game as long as you would know exactly what you’re engaged in & wouldn’t be churning out embarrassing novice like statements such as that.
But then again……
[QUOTE=“cator;690130”] You’re obviously bored & attempting to whip up a little controversy & mischief because someone who has been around this game as long as you would know exactly what you’re engaged in & wouldn’t be churning out embarrassing novice like statements such as that. But then again……[/QUOTE]
It’s only novice to a novice.
Placing money at risk for a return is not inherently gambling.
If we flipped coins and each time heads came up you’d win 45 cents, but each time tails come up you’d pay me 55 cents, who’s the gambler?
Heads could come up 20 times in a row, but does that mean you have an edge? I maintain the edge. I will always win given enough flips of the coin.
He who has the edge need not gamble. Period.
What you are doing is the same as everyone else whcih is applying your method and then hoping you will make money over a longer period of time.
You have build this upon the premise that past results can predict future returns which has no mathematical basis.
Show me some mathematical proof that would support your trading system and I could agree with you but we all know that is not possible.
As I said previously what we all do is hope our system which has worked in the past will work in the future (because it worked in the past) and we ‘roll the dice’.
Can you win 33% of the time? If so, have your take profit twice that of your stop loss. Has worked for me for years.
Gamble? I think not. But past results certainly validate my edge.
Casinos have risk too. Economic risk. Legal risk. Moral risk. There’s no guarantee their edge will sustain in the future. But all the same we say they have an edge and they are not gambling. And we are certain they will always have an edge because human nature is predictable.
My risks: Economic risk. Legal risk. The market would essentially have to cease to exist to remove my edge. And then I guess we have worse problems in the world at that point than my success in Forex.
Risk does not equate gambling.
I take a risk when I get in my car and drive. Therefore I’m gambling?
Do we gamble when we have children? They could die.
Do we gamble when we drink water? It could be poisonous.
The gas line in my house could explode.
My neighbors dog could bite me.
Risks surround us. We either assume risks, avoid risks, or transfer risks.
But at no point do we describe the common acts of daily living as gambling.
This all just come down to how you define gambling and clearly we do not define it the same way.
To me gambling is when you bet money on anything where the outcome is not certain and hence I define forex trading as gambling.
Your clearly define is a different way.
[QUOTE=“rindoan;690164”]This all just come down to how you define gambling and clearly we do not define it the same way. To me gambling is when you bet money on anything where the outcome is not certain and hence I define forex trading as gambling. Your clearly define is a different way.[/QUOTE]
So gambling only is if there is money involved? That’s a very specific definition. One can’t gamble their life? Their character? Their career?
It’s all a matter of semantics at this point. Call it gambling all you want. Certainly then you have to admit there are odds and probabilities with each gamble.
There are also certainties one has when the probability is so great in their favor. One might feel so confident in that certainty that it doesn’t feel like risk at all.
If Forex is gambling to you I would venture that’s q reflection of your outcomes gambling in Forex. It need not be that wa.
I am not going to bother arguing the definition of gambling with you.
I told you how I define it and to be honest I couldn’t care less how you define it.