Is Forex Gambling?

to be honest it totally depends on how you trade.

And I am sure that this has been said before in previous incarnations of this thread, but there are other things that involve an element of luck that are not seen as gambling, many sports spring to mind. So the fact that we need to stay lucky does not mean that luck is the principal factor so does not mean that we are just gambling.

Well, maybe Iā€™ve been lucky all my life then!

The better I get at trading the luckier I get :slight_smile:

Guys havenā€™t debunked the notion of differing risk between gambling and trading: for trading one can vary the risk even in the middle of the bet, but in gambling the risk is essentially static.

I cant believe you guys started (and ended) the ā€˜gambling is predictionā€™ thing without me?

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Lesson to be learnt from recent forum developments:

Regardless of number of stripes zebra is zebra, cheer-up noob!

Sooooā€¦ Lemme get this straight.

Because you can change lot sizes midstream of a trade, itā€™s no longer an unpredictable outcome?

You can exit at any time.

As for changing bets in gaming terms:

You can play craps, and let it ride for a bit, still be winning and take some chips off the table. Until you roll a bad number, you can increase, or decrease as you see fitā€¦

Your ante size changes in poker, and itā€™s up to you how big it gets.
Or you can fold, and lose minimallyā€¦

You can double down in one hand of BlackJackā€¦

Not seeinā€™ your logic here.

In true games of chance, itā€™s one pay per one play, yes.
Slot machines/video poker come to mind. Keno as well.

Sorry you missed the prediction thread.

Just off the cuff here, what were your thoughts?

lucky man!

so youā€™re basically saying the two go hand in hand?

Getting it straight is one cant vary lot size in the middle of a trade, you know.

Correct me if Iā€™m wrong, I think in the above gambling examples there comes points in the game where one cant touch his stake whether to up or lower it? Like in craps once you take your action/turn one canā€™t change the risk once dice hit the air. I wouldnā€™t know how to play blackjack right now (I can beat someone at poker since highschool, cant find ā€˜Kenoā€™ in my no-trippin big book?), but I suppose that you canā€™t up your bet now, then the next guy does his thing and the very next second you want to lower it - one has to wait for his next hand? Anyway, in trading commodities one can vary stops & takes and contemplate exiting within a few seconds after placing the trade without waiting for a next round. There is a mathematical statement of this paragraph ā€¦

Also in gambling one (or all) have to loose so the other(s) can gain. That isnā€™t the case in commodities trading (DD/NDD/ECN/STP notwithstanding). In markets, there is demand and supply forces (plus the fed to throw spanners at the works in the background, and banks to bury the dying & take the blame).

In trading one can use technical & fundamental analysis to predict markets on H4 and D1 timeframes with closer accuracy than the weatherman, while in gambling it just wouldnā€™t work that much without luck (& prayer, oops), and still the gambler cant make it like me?

Strictly off the cuff, I was going to attach eurocharts showing my current predictions in support of the sideshow arguementā€¦ but someone came in with soiled shorts, so again the joint was closed for public health reasons?

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I quit my job for forex - tell him to quit his for blackjack!

Admission to the school of gambling, limited slots remaining, hurry now!

:smiley:

thatā€™s funny !

Do you really believe there is a massive underlying difference between being a winner in this and being a winning pro poker player? I personally donā€™t and both could be labeled gamblers in my eyes

Yep, public healthā€¦ Itā€™s a shame when people donā€™t know how to have differing viewpoints and still be civil. Thanks for being so! :slight_smile: And it would be really cool to see you post up the charts. It still fits in context of this thread I thinkā€¦

Okay, hereā€™s my thoughts on the rest of your post.

At the retail level most all of us work at, yes, one must lose for another to gain. That was the whole idea of market makers, or bucket shops.
Whether that loser is another trader, or the house/broker, depends on your broker.

The rest of your post I would liken to sports betting. Injury reports, weather reports, home field advantage, starting lineups, pitching rosters. Home record v away record, momentum, strength of schedule. I can go on and on. Those are the fundamentals, and they are studied mercilessly by proven sports betting winners. There is even a spread on the score. And in the middle of the game, a key player can get injured, or someone can make a mistake that changes the flow of the game.

I donā€™t think that forex belongs in a casino, but itā€™s a gamble based on an unpredictable outcome.

Risk=Gamble

Hmm, even the rnd function in mql is not really random, but pseudo random. How can that be gambling if I let trade my bots? :wink:

Since youā€™ve programmed your bots to see the same setups that you see visually, the only thing missing would be a discretionary element of you not manually taking the trade.

And anything you program in MT4 is not the market, the market is itā€™s own entity, and therefore the random part;)

How is ya bro:)

Hey, how are you doing Master Tang? :slight_smile:

Well, the markets are not random, as ppl do not trade randomly (I hope so, lol). The markets are chaotic. If the market would be really random, we could not get consistent profits, right? :wink:

My manual trading is c**p so I stopped that finally but my own coded robots trade like a charm and they will probably make me rich. 60% profit the last 2 months isnā€™t that bad. My first robot looks in real life like in backtest over the last 6 months since I used that. I just play with the settings. Good profit and no loss at all over 60 trades / 3 years or higher profit and a risk of 20% drawdown with 1 to 2 loss trades out of 90 trades / 3 years.

My fresh second robot looks very good in backtest and also made real profit, but I am not convinced it will do that forever. Right now it has 2.5% relative drawdown where the maximum in backtest is 4.5%. So I am just checking it with a rather small lot size and a few bucks. My second robot ist rather like a scalper. Thatā€™s why backtest is not the real deal here. The outcome is at least based on single pips. However, if that is working I will make huge amounts in a couple of months. Right now it looks not bad. From 1000 bucks to millions in 2 years with around 1000 trades and less than 15% drawdown. But we will see ā€¦

As my first robot is consistent profitable I can experiment now with other systems. Because my first robot brings me the money I can lose with experiments, lol. :wink:

So, how is it going at your side?

Hello to all of you! Iā€™m new here.
Ok, if you want, life its-self is a gamble, itā€™s a gamble game! :slight_smile:
Depend on what ever you consider it is, the forex, the poker game, the life. If you treat the forex like a gamble then itā€™s a gamble. If you treat it like a serious business itā€™s a business.
But on the other hand, gambles like poker and others can be played seriously, with profesionalism or can be played like fools.
I trade on forex, on a demo account, as I have said on other topic here, by 3 weeks and Iā€™ve learned about my-self more than I have learned until now in my life.
The forex is all about psichology. If you are strong onugh to fight your greed and to stick to a program you will make money, if not, not.

I think it depends from many factors. When you trade with some martingale system it is of course gambling but when you follow clear trading rules, use proper money management it have nothing to do with gambling.

At least that is my point of view.

hi

i belive that forex without understanding of the market is gambling. Iā€™ll explain why:
the fx market doesnā€™t have the same rules (functioning on) as a gambling play

the behavior of individual trader which trades with big leverage is pretty the same as a gambler IF he push buy or sell bottom randomly

so, the answer for this topic big question can be found in every individual trader approach about fx market.

best

Forex cannot be gambling. Itā€™s like saying buying a table or a TV is gambling. Ofcourse stupid decisions make us lose alot of money like buying a 2nd hand car then realising theirs no engine. At the end of the day we are buying a commodity so it cannot be considered gambling.

Do you ever buy a currency with the sole intent of taking delivery of the actual currency you bought?

Or are you playing a trade to increase your account balance only?

Speculation=Risk=Gamble.