Gambling is about luck and forex trading is about strategies and skills to trade.
Gambling is a zero-sum game of playing the available odds, whereas trading is completely different.
Trading is betting.
Forex trading involves a degree of risk, but it also requires knowledge, skill, and discipline to manage that risk effectively.
Gambling, on the other hand, is often characterized by a lack of control over the outcome and a reliance on luck.
I see very little resemblance in them
Both gambling and trading are two different concepts.Trading in the stock markets is not like a dice game, while gambling is a zero-sum game of playing the available odds.
Forex trading is different from gambling in a sense that you conduct a thorough market analysis and make decisions based on your research. However, there are times when you are not sure what to do since the market condition seems obscured. During this period, you have to act in accordance with your intuition, which is why often Forex trading is associated with gambling.
How is forex trading different from gambling?
Wikipedia tells us that gambling is âthe wagering something of value (âthe stakesâ) on an event with an uncertain outcome with the intent of winning something else of value .â
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 heavenâs name could anyone with even a half a brain conclude that forex trading is anything but gambling? Why do YOU trade forexâŚto lose or just for fun? Whether we like it or not âŚFOREX 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 they grace the running track and place their wagers accordingly.
The post immediately above mine by Investfox states thisâŚâForex trading is different from gambling in a sense that you conduct a thorough market analysis and make decisions based on your research.â Apparently he believes people who wagered that Messi and Argentina would win the world cup didnt do any similar analysis or research but just placed their bets because they like the kit the team was wearing or liked how the word Argentina sounds. Now how could I take anything this person says going forward seriously?
Think people think and cut out the mindless follower sheep business.
Everything in life is gambling. Walking to the bathroom is a Gamble, you might not make it in one piece. Driving to the store is a Gamble, you might get run over by a cement truck.
From the time that you deposit your money into your account, until the time that you withdraw it successfully, your money is at risk.
I have made close to $40,000 of deposits and my account equity is just under $300.
Is forex gambling? Yup.
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At least your honest ,you can choose your âoddsâ trading, roulette the odds are always fixed . Simple anology
Please if i want to calculate for the risk management for gold using pips, I need guide on how to do that using pips and lot size
What I am working on is pure gambling, but I am trying to find a mathematical edge.
I am down $-12,419.xx
Thatâs too hard on yourself. Surely you are not doing âpure gamblingâ. You are betting. And betting is a game of probabilities, the outcome of which can be affected by known or assumed factual data. Pure gambling would be roulette: we are not playing roulette.
I really like the concept of gambling, but I like gambling like how the MIT card counting team played blackjack. Some would say they had a system, others would say they cheated, but I just say that they won.
Iâve been working on one single trading bot for currency for 18 very long years, and just maybe maybe Iâm sliding into home plate.
Thereâs one thing different that I do compared to other trading bot developers, I do not use the standard basic indicators because they do not work they are broken and similarly I do not ever use a moving average for anything because it does not work.
I have been writing computer programs for almost 40 years now and Iâve been writing metatrader code since 2005 when it was released to the general public. When I started programming meta trader, I had already been programming C language code for 14 years, and metatrader code is pretty much straight C language code with trading functions. So I had that advantage over everybody that had to learn programming I already had 14 years of hardcore C programming under my belt.
C language is my language of choice, it is one step up from assembler yet it is a high level language that is readable and is portable amongst many different machines.
Following are the images of my current position as I believe I may have fixed my bot. Finally. Fingers crossed.
Since the beginning of this project, my goal has been to learn how to do martingale trading and to learn how to identify a trend including where does it begin and where does it end.
I am still looking for a capable mentor, with preferably a masterâs or PhD in finance and law.
I think forex differs from gambling in that forex requires more skill than luck, while gambling requires more luck than skill.
In gambling you rely on luck and your gut feeling. Forex is more complicated and the things mentioned above are not enough. You need to understand the market mechanics and manage your risks. For example, you should set a rule for yourself that you shouldnât lose more than 400 points for a trade if the market goes against you.
I see Forex trading as closer to playing blackjack at the casino rather than simpler activities like poker machines and roulette wheels. With skill it is possible to have a positive return over time. The professional gambler takes a more systematic approach to winning rather than the average punter. Some of that applies to trading as well.
Any game with risk (i.e. where money is involved) can be turned into gambling if you donât follow money management, i.e. if take profit or stop loss are not defined. Forex is not an exclusion.
For those interested in the similarities and differences check out the film: âThe Card Counterâ for a systematic approach to casino blackjack playing. Also the film has a reference to something like prop firm funding.
First of, gambling doesnât have a system unlike forex trading. Gambling is more about luck as there are no instruments to foresee what will happen in future.
Secondly, gambling is disastrous for people cause adrenaline and their enthusiasm doesnât let them to stop when they gamble. A thirst to potential big sums of money makes them go crazy.
Forex is more about systematic activity where price changes are predictable even taking into account analysis complexity. You may earn a lot, but such thing requires big deposit or big leverages which often lead you to deposit drain. So, on forex you gain money little by little developing skills and getting knowledge.