Is forex like gambling?

If you want to apply that argument to random trades then I’m in complete agreement. However you’ll generally want to be exploiting an edge in which case, this is an extremely dangerous assumption to make because the statistics you are calculating are based on a non stationary timeseries.

Doesn’t matter if I wont jump before my stop-loss/take-profit in actual trading, but see that the myriad possibilities in a 1:3 40pip stop trade are spread across all those pip points, making the 2% (or 1% or any) just a guideline towards evaluating maximum risk probability. Not using it wont nullify the fact?

Looking at it in terms of a 140pip swing trade, I just might apply total discretion (though I still refuse to contemplate a stopless trade, lol!) in such situation where its wide enough for price to play sideways without hitting it, I come in with a lousy mood and trade didn’t pan out I relieve some by closing it even before stop or target. Or where I use other correlated charts or two brokers and pilot chart turns suddenly after 1-2 hours 15 seconds ahead of the one with trade, hell I’ll jump off to regroup. Or a reversal bar forms 13 pips from target. Or turning off take-profit because its going so good. So yeah its practical still.

So I think your post supports trading outcomes’ probab could well be not fixed like in gambling.

May the OP kindly have the honors to provide ideal definition of the terms, before someone says real-estate is a gamble??? But even without that we all have a general notion of a gambling game.

Absolutely in agreement. The probabilities are not fixed, they are constantly changing and this is one of the reasons why trading can be so difficult.

Just like life then, a gamble all the way.

OP wasn’t trying to start a serious thread. He was lamenting the fact that these stupid threads keep getting made :stuck_out_tongue:

The devil made me do it! LOL

besides, it’s the weekend, time for a little entertainment.

The problem is, some people think wrasslin’ is real.

:stuck_out_tongue:

Oh! Ma bad.

Oink!

Wait! you mean it’s not?!
:eek:

Eh? This is news to me.

Still easier than gambling!

Hmmm, some would probably argue that, given how much there is to learn…

Most of the pro gamblers I know are pretty smart guys, I wouldnt say gambling, full time for a living was particularly easy.

One thing I have noticed with the 4 or 5 pro gamblers that I know is that the varience in their returns is much higher than most of the traders that I know. They also seam to have far greater intuition.

It’s the weekend again, maybe one more gamble before I shut up shop.

Depends on whether you can win long term or not…

No it doesn’t.

From this point-of-view FX is like Poker. You have to practice, practice, practice and practice some more. Until you get some sense in what’s happening. Afterwords, you start developing your strategy. Your personal, since as you at some point understand, that all the ones you have read in the forums and books, don’t really work. You have your strategy, time to start working on discipline and psychology. After you are done, it’s gonna be as easy, to trade Forex as it is to gamble poker online. Since 95% of the people are clueless of what’s happening, although they are thinking vice versa

:slight_smile: no trading for me today. NFP, now That Is gambling!

If trading the NFP is gambling, then the gods were on my side… I did great! :smiley:

congratulations Master Tang, you’re braver than me! :slight_smile: I quit trading on Tuesday. Will start back up again on Monday.