hi guys
just wanna ask isn’t forex more like gambling?
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It can be but does not have to be.
If you have a system and trade mechanically it is not like gambling.
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Hi sameer whether or not u treat forex like gambling is upto u. if u enter into a trade without knowing why u entered it and just entered it bcos u thought that the trade will go ur way then i think u wud treat it as gambling sort of. u might win a few that way as u still have a 50% chance but i think its not the way to trade. in my opinion u cud treat forex as above or u cud treat it as speculative which is not gambling or u cud treat it as an investment. there is risk involved no doubt in the above as well but then there is risk in business as well but one wudnt call doing business as gambling would he?
What in life isn’t gambling?
… trading is not gambling in the stereotypical fashion.
Trading is not like gambling at all.
Read “The Disciplined Trader: Developing Winning Attitudes” by Mark Douglas. He is a widely respected trader. His book is acknowledged as one of the most important works on the topic of trading, and especially trading psychology.
Douglas provides a detailed analysis demonstrating why trading is not at all like gambling. This is worth understanding for long-term success.
Also read Douglas’ book “Trading in the Zone”. Very helpful.
Hi there,
I have similar opinion from a friend about forex saying its like gambling. Those who says that is a people who invest money into something they don’t know and hoping it will go their way. This is the kind of hope from a losser.
In gambling, you won’t have technical analysis. Even if they are, it’s not like forex which I would say will have 50-60% chances of accuracy. Forex is more systematic than gambling. You can approach forex with stop loss to limit you losses, but in gambling you don’t have that.
Even in real business world, you can only forecast you sales/income without knowing the actual result. If you say business is gambling, then even our everyday life is gambling.
Hey Pipgod,
So are you saying following fundamentals and making assumptions from that makes forex more of a gamble?
Adam
Its gambling if you don’t have a game plan you follow :mad: .
Its an enterprise if you have a plan that is well thought-out and followed consistently 
well the answer isn’t so cut and dry. Take poker for instance. There are successful professional poker players, and they have a plan, money management, and discipline and they make a nice stake. However, slots and roulette are gambling, yet those are almost always a sure loss. I know someone who plays blackjack at the casino and makes consistent profits. This is not luck, this is through a well thought out plan. It depends on the game, if you associate gambling with tossing a coin or throwing a die then not they are not alike but there are some ways to gamble and make consistent profits. There are even better money management websites for gambling rather then trading. It is possible to make profit from forex with a well thought out plan if that’s what you want to know. Anyways I just thought I’d throw that in there because forex is like poker which [B][U]is[/U][/B] gambling. But again alot of work goes into it, it’s not just throw your chips on the table and hope for the best. Take it easy eh, have a good one.
Gambling (wikipedia): Gambling (or betting) is any behavior involving risking money or valuables (making a wager or placing a stake) on the outcome of a game, contest, or other event in which the outcome of that activity depends [U]partially or totally upon chance[/U] or upon one’s ability to do something.
Risk (wikipedia): In finance, risk is the [U]probability[/U] that an investment’s actual return will be different than expected. This includes the possibility of losing some or all of the original investment. It is usually measured by [U]calculating[/U] the standard deviation of the historical returns or average returns of a specific investment.
Investment (wikipedia): Investment or investing is a term with several closely-related meanings in business management, finance and economics, related to [U]saving or deferring consumption[/U]. An asset is usually purchased, or equivalently a deposit is made in a bank, in hopes of getting a future return or interest from it.
Speculation (wikipedia): Speculation, in the narrow sense of financial speculation, involves the trading of any valuable financial instrument to [U]profit from fluctuations in its price[/U] as opposed to buying it for use or for income via methods such as dividends or interest.
Forex is simply an instrument. Your thoughts and core beliefs about money, risk, and principles of behavior are greater factors in success as a trader than your education, intelligence, or ability to apply a method or system. You may label your market activities as you wish, but be certain that the label you apply is consistent with your personal constitution.
Poker is very popular right now. Good players and professional players know the tables of odds cold. They know when to push and when to lay one down. They also know when there is value in the pot. Some of these things are �mechanical�; some are learned through experience at the tables. Why then do we all not win at poker? We can all memorize the odds, or learn quick math tricks to approximate our chances. We all know which starting hands have +EV. We can read books, watch videos, or hire a mentor. What makes the elite players different?
The elite players see the game itself differently. Their approach takes into account the �mechanics�, but adds a very different level of understanding about the game into the decision making process. Elite players know how to read a table and an opponent. Sometimes the cards in their hand do not matter. They have developed an understanding of the metrics and the dynamics of non-cooperative multiplayer contests. Their thinking has progressed beyond asking, �What are the odds of that?� And I bet they didn�t read it in a book.
(There are holes in this big enough to drive a truck through. 
Please share your ideas!)
No, just one example.
You may post what you think will take the gamble out of fx trading.
For the record, I don’t do fundamentals.
All is good.
well for me is forex definitely not a gambling after my 12 years experiences in a gambling of all kinds.in gambling if you do mistake your money is gone and you can�t say to a dealer bcoz he gave you a wrong cards ok man i stop and want 80% of my stake back and the same is with betting on horses or soccer or anything else if you place your stake and all goes wrong you can�t stop your loss and take some of your stake back but you can do it in forex if you place wrong entry you can stop your loss and wait for next entry and maybe make some money but you are managing your loss and profit so forex is not a gambling in gambling is this not possible you either win or lose.
I see. I am by no means trying to argue. I see your results everyday posted with your ROI strategy. It is interesting to me how different people view the forex market. Have a good one.
Adam
That’s cool, I don’t usually argue.
More importantly than how one views the market, how does one view one’s self?
Does one believe one deserves to receive money?
How does one view money?
All is good.
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