Is Forex Gambling?

[Crest]

I don’t think I should be here but…

I am “religious”.

I do not accept the above.

I believe gambling is a sin and, if you can prove to me, beyond all reasonable doubt that forex is gambling, then I will quit tomorrow!!

But you cannot!!

I also believe it is high time that a clear demarkation was made between [B]risk [/B]and [B]gambling[/B].

If I return here sometime, I may start the ball rolling.

Tymen,
This is not a personal attack or an attack on your religion. However, your statements aboves are at odds with some history of yours involving the casino in Perth.

Didn’t you declare in a gambling forum that you were a regular at Perth casino and even had developed methods to predict the path of roulette ball?

I am just trying to understand your position when you say gambling is a sin, not trying to upset you, OK.

I am thinking that your constant changing of systems in Forex / equities / roulette is part of your psychological makeup. You are someone who is always striving to create a perfect technical system to beat what is a probability based game of chance.

This constant striving for technical perfection is a good thing. One day I hope you reach you goal.

[almalik77]

i will give secnarios please give me your feedback.you see a girl in the club finest thing eyes can look at shes down to go back to your pad and let you knock her back out, does she have aids you dont know, you use a rubber what if the rubber breaks,is this gambling let me know.you go to collage get in debt 50000 to 100000 what is the certainty you will get a job was this a gamble and when i say job i mean what you went to school for not working at starbucks or walmart.we drive a car everyday what is the certainty regardlesss of how careful you are that some other drunk driver wont slam into you a possibly kill you were you taking a gamble by getting in your car driving today.all of us get on airplanes are you sure that ,that plane wont crash while you are 38000feet in the air how can you really be sure would this be a gamble i could go on and on but i will stop here your feedback please

[almalik77]

So… In fact, for housing market participants, there was risk.

So, if you and I happen to wind up on opposing E/U trades, you buy, I sell, and price goes up, did I just get a rotten end of the deal by chance? Or did I get a rotten deal because you took me to the cleaners? Or maybe I get a rotten deal because at that moment because George Soros sold a billion USD short?

If you profited, are you prophetic? Or did you just HAPPEN to be in the trade the right way at the time?

If Mr. Kiyosaki bought anything 5 years ago, was he at rock bottom? Or is he buying now trying to average up a bad open trade on those houses?

Just because land is an asset doesn’t mean it can’t be used as a speculative vehicle. It is used as such all the time.

DO NOT confuse games of chance such as slot machines, keno, the lottery or any other random number generator type, with games in which one can manage risk, or size of wager.

Games such as craps, roulette,poker, horse racing, sports betting, or any other activity that log results, can be proven winners if one follows money management, and plays odds and probabilities.

Real estate investments, equities, commodities, and forex, as well as any other business ventures fall under that criteria.

For instance, if you have 100K to open a restaurant, and you have a number of tables, and a menu, with hard costs planned, you can reasonably project earnings.

The only thing you can’t project, is how the food will be accepted, and how many customers will walk through the door daily.

Hence the risk factor.

The cold hard truth is, the words risk, speculation, and gamble are interchangeable, from a monetary standpoint. You are using money for no other reason than to turn a profit.

Use whichever one allows you to sleep best a night.

what you dont understand is when i buy or sell a currency the person onthe other end of that price can be anybody in the world it could be a corporation it could be somebody traveling from japan to usa currency are bought and sold everyday mainly for trade and commerce speculation cannot dominate the fx market because everybody on earth has to do some form of currency exchange its to many fundamental variables involved in one currency rising in value to another currency lets say i came here with 1000000 british pounds i cant spend those pounds in usa i have to exchange them how much would give me in us dollars for those 1000000 british pounds well that would be whatever the market sets as the value of dollars to pounds now you could give me your own price but if its not the market price or close to the market price you have no deal currency values are based on agreement of two parties whether individuals or govermants currency traders trade off of these agreements that made in the free market if the market agrees that euros are more valued than dollars than euro rises in value in relation to the dollar thats all it is

[qwertymyfx]

what you dont understand is when i buy or sell a currency the person onthe other end of that price can be anybody in the world it could be a corporation it could be somebody traveling from japan to usa currency are bought and sold everyday mainly for trade and commerce speculation cannot dominate the fx market because everybody on earth has to do some form of currency exchange its to many fundamental variables involved in one currency rising in value to another currency lets say i came here with 1000000 british pounds i cant spend those pounds in usa i have to exchange them how much would give me in us dollars for those 1000000 british pounds well that would be whatever the market sets as the value of dollars to pounds now you could give me your own price but if its not the market price or close to the market price you have no deal currency values are based on agreement of two parties whether individuals or govermants currency traders trade off of these agreements that made in the free market if the market agrees that euros are more valued than dollars than euro rises in value in relation to the dollar thats all it is

You ever heard of punctuation?

[Master_Tang]

what you dont understand is when i buy or sell a currency the person onthe other end of that price can be anybody in the world it could be a corporation it could be somebody traveling from japan to usa currency are bought and sold everyday mainly for trade and commerce speculation cannot dominate the fx market because everybody on earth has to do some form of currency exchange its to many fundamental variables involved in one currency rising in value to another currency lets say i came here with 1000000 british pounds i cant spend those pounds in usa i have to exchange them how much would give me in us dollars for those 1000000 british pounds well that would be whatever the market sets as the value of dollars to pounds now you could give me your own price but if its not the market price or close to the market price you have no deal currency values are based on agreement of two parties whether individuals or govermants currency traders trade off of these agreements that made in the free market if the market agrees that euros are more valued than dollars than euro rises in value in relation to the dollar thats all it is

And you assume I don’t understand that?

How about you go re-read my post.

I’m pretty sure I have a grasp on the situation mentally…

[SDC]

i will give secnarios please give me your feedback.you see a girl in the club finest thing eyes can look at shes down to go back to your pad and let you knock her back out, does she have aids you dont know, you use a rubber what if the rubber breaks,is this gambling let me know.you go to collage get in debt 50000 to 100000 what is the certainty you will get a job was this a gamble and when i say job i mean what you went to school for not working at starbucks or walmart.we drive a car everyday what is the certainty regardlesss of how careful you are that some other drunk driver wont slam into you a possibly kill you were you taking a gamble by getting in your car driving today.all of us get on airplanes are you sure that ,that plane wont crash while you are 38000feet in the air how can you really be sure would this be a gamble i could go on and on but i will stop here your feedback please

Why do you need to ask this here now? Did you even read the rest of this thread before you posted that ?
The subject of what is gambling and what is not and why has been analysed to the extreme on this thread, to the point of exhaustion, the definition of gambling has been explored, explained, with examples and descriptions several times over.
Even if you did not read the thread before you posted do you not have access to an online dictionary, a regular book dictionary or wikipedia ?
If you look up the applicable definitions of gambling, understand those definitions then decide if the scenarios you describe fall under the definition of gambling or not, your questions would easily be answered.

[homeostasis68]

I am a newbie and was wondering what is the difference in risk factor in regards to Forex versus stocks. Some people freaked when I told them I start with Forex. As I said, I am a newbie and it seems i can start with not much money, don’t really have to think much what stock I buy, and i can test and learn indicators while trading with a minimum.

Any thoughts on that? Or should i start out eith stocks rather than forex?

Cheerio
Elk

Somebody closed this thread before I don’t know who and why

So I am starting this again. Feel free to post whatever you like.

i think forex is not gambling. forex needs a lot of knowledge to learn and there are many many systems out there. while gambling doesnot require any knowledge and you can start gambling in seconds.e-g to play on roulette table you dont need to master any strategy or skill just place your bets on the table and if you are lucky your number will come up.

we should not compare froex with gambling. its a genuine business. if forex was a gambling why there are many indicators out there. why not people just buy or sell currency randomly instead of following technical or fundamental analysis.

those people who think forex is gambling they are treating forex like that. they are playing it like gambling and loosing everythime.

but those people who think this is genuine business they respect it like a business and use skills and strategies needed to do it

[WildChancer]

I am a newbie and was wondering what is the difference in risk factor in regards to Forex versus stocks. Some people freaked when I told them I start with Forex. As I said, I am a newbie and it seems i can start with not much money, don’t really have to think much what stock I buy, and i can test and learn indicators while trading with a minimum.

Any thoughts on that? Or should i start out eith stocks rather than forex?

Cheerio
Elk

Complete preference mate, there is no easy answer. Easiest way to decide is to give it a shot yourself on demo. Nothing ventured and nothing gained and all that.

Personally I see the 2 as slightly different things. Stocks are more of an investment to me (middle to long term) whilst I look to trade forex intra day. Due to the nature of forex, I believe it offers more possibilities for profit in the short term.

[vosterfxandy]

You ever heard of punctuation?

lol, doesn’t look like it.

[ThePhoenix]

I am a newbie and was wondering what is the difference in risk factor in regards to Forex versus stocks. Some people freaked when I told them I start with Forex. As I said, I am a newbie and it seems i can start with not much money, don’t really have to think much what stock I buy, and i can test and learn indicators while trading with a minimum.

Any thoughts on that? Or should i start out eith stocks rather than forex?

Cheerio
Elk

To make any real money with stocks you need a minimum of 100K to be a serious trader. Because you have to buy multiple shares to make any money.

Also, stocks aren’t as liquid, have all sorts of rules for going short, don’t trend as well and technical analyis doens’t work as well.

Also, with forex you can trade your own size per point.

With stocks if a stock is going at say $30 dollars a share, you have to pay $30 for one share. To make one dollar it has to go up to $31 a share. So, if you wanted to make $100 off of a one point movement you’d have to buy 100shares… …$3000 on the line to make $100 per point.

[ForexFrontier]

Whoa this thread seems to have turned into quite the affair, but @ Almalik77 I would have to say that you could justify just about any instant in life as some form of gambling. I’m going to take that assumption and run with it for a second…

If all of life is gambling than present in that life (that gambling session) are odds, some are with you and some are against but there are odds nonetheless. Based on these odds you can make the right or wrong decision but the fact remains it IS a numbers game. To ignore the fact that one situation has a greater probability of occurring than another is I daresay foolhardy.

I’ll use the EUR|USD as an example, for weeks now the EUR hasn’t had much of a stick to shake but recently (per the odds) it has gained some momentum. US Marketsare still coming back but there is a method to the madness. You just have to willing to see it first.

[FX4Sure]

I’ve read in a book that Gambling is when you have the odds against you i.e. lottery, casino.

So you’re trading when the odds are with you, otherwise you’re gambling.

[Master_Tang]

I’ve read in a book that Gambling is when you have the odds against you i.e. lottery, casino.

So you’re trading when the odds are with you, otherwise you’re gambling.

If there are odds at ALL one is gambling.

[mirrowsea]

Short term Intraday trading could be gambling…because you don’t know which way the market would go next…Some even see 4hrs as full of spikes and noises talk more of 1hr, 15 mins, 5mins, 1 min.

Ok,what’s the point of making 150 pips today and loosing it all after 2 or 3 days?

Is it not better to join the trend once and set 2-8 profit targets and one general stop loss?
If it hits your SL then you wait for another opportunity. With ‘breaking- even’ ,you might get to loose out like 2 or three times in one year.

[Synergistik]

There is always an element of chance in every investment one makes. I don’t see how forex is so different from any other type of investment. Even with the lower time frames, which might be based more on technical analysis rather than fundamentals.

Unless one opens a trade on a whim without any analysis and understanding of directionality.

[Synergistik]

To make any real money with stocks you need a minimum of 100K to be a serious trader. Because you have to buy multiple shares to make any money.

Also, stocks aren’t as liquid, have all sorts of rules for going short, don’t trend as well and technical analyis doens’t work as well.

Also, with forex you can trade your own size per point.

With stocks if a stock is going at say $30 dollars a share, you have to pay $30 for one share. To make one dollar it has to go up to $31 a share. So, if you wanted to make $100 off of a one point movement you’d have to buy 100shares… …$3000 on the line to make $100 per point.

I love trading stocks. They are less volatile, and allow me to sleep at night. I find PA and S&R work well for the stocks I trade. And I have been more profitable with stocks than forex, though my equity in forex is lower, and I’m still new to forex.

Synergy

[mirrowsea]

Well, I must admit that I don’t really care if it is gambling or not. I enjoyed playing poker for many years before I started trading, and successfully too. So maybe it is.

However, I do not argue from an idealistic point of view. In fact I do not argue at all. All I look for is an activity where I can swing the odds in my favor. I did this when I went to university, then post-grad school, in order to reduce the odds of becoming redundant in the workplace. Anyone who just leaves school with the “hope” of finding and keeping a good job is gambling, in my book anyway.

When I started my own business many years ago, I took a gamble, but I knew I could swing the odds for success in my favor once again, and I did.

When I started trading, I did everything I could to swing the odds in my favor once again, and I did. Works for me.

On the other hand, going to a casino and playing slots/roulette/whatever, where you cannot swing the odds in your favor, you may call gambling.

I call it stupidity.

This guy is making sense…

[shane123]

I know dreamtime, I can really feel it, and it feels fantastic. Congrats on your manifesting too

[FX4Sure]

If there are odds at ALL one is gambling.

Your opinion.

Casino’s owners are not gamblers, they have a business, the odds are in their favor.

[Master_Tang]

Your opinion.

Casino’s owners are not gamblers, they have a business, the odds are in their favor.

I live in a town full of casinos.

They close all the time.

The odds didn’t help them, they are gamblers too.