Is Forex Trading Gambling

I suppose there is a difference between trading with a gambling mentality, and trading a statistical edge correctly whilst knowing that this is classed as gambling activity.

From what I’ve seen and listened too, professional traders have no problem with the industry being classed as a day to day gamble. Lets not forget that there is also a fine line between ‘smart’ and ‘reckless’ gambling.

If a person is taking it like a gamble then it is gambling for him. He might get huge profit in one day but other days can be devastating for him. On the other hand, a trader will manage risks and will be there to trade next day as well.

You’re right. Personally, I don’t understand the gambler’s mentality. I guess they find it thrilling? To me it’s just a waste of time and money.

There people saying as long as anything involved with money. It gambling… We are gambling everyday. We gambling with our life every single day. So what u think guys?

Its kinda like gambling , is either up or down.
But I would say that if you have skills and knowledge,
you can minimize the risk much greater than you can imagine.
Just like poker players, is all about skills and poker face

No, it’s not possible to be a consistent trader by gambling! Only professional Forex traders are consistent here! Gamblers make sudden huge profit!

I am sure that there are plenty of amateurs who are also consistent in their profits. It’s not just professional traders. It’s just that those amateurs view it as trading, not gambling.

It depends what you mean by “amateurs”.

If you’re referring to people not looking to trading for their primary income, then what you say is probably true. But given the tiny proportion of people who ever become “consistent in their profits” it could be argued that that criterion alone actually makes people “professional” rather than “amateur”.

To me amateur is someone who uses forex trading for additional, rather than primary income. But you are making a great point and I’ll have to reconsider.

People always say how much have you bet? I always correct them and say nothing, however I have risked £xxx. So for me the argument if it is Gambling or not is irrelevant. Unless for some peoples religious or personal beliefs (which i understand). There are 1000’s of professions where an asset is purchased or an option to purchase is arranged based on someone speculating in the asses increasing or decreasing in value. Trading is no different and I guess each individual will know if they are gambling or not. Also the classification of gambling allows the huge tax benefits for most retail traders who make money. Ironically the retail traders who are misguided/ not educated and do find themselves literally gambling in the market, is one of the reasons Spread Betting it is classified as gambling. HMRC would be in trouble if 90% of retail traders could offset their FX losses against income tax.

Yours is the best comment on this thread. When your betting on sports, or play Russian roulette, then you are gambling. Forex is a Trade that involves currencies. You can choose to gamble by predicting price trend without prior knowledge about the currency and the economy surrounding it or you can get your facts right and trade like a professional.

Forex is a Business, but you can choose to gamble your money away as you embark on it.

In my opinion, if you view Forex as gambling you’ll lose money. If not in the short term, then in the long term for certain.

Gambling or not… This qns hv been going on n on n on. It really hard for us to say it gambling or not. Cos everyone hv different opponent about this qns. It true depend on how we look at it, which angle we look at it. Like mlawson say, if u view forex as gambling u lost money. This sentence I recall someone told me b4… I know someone who is a professional gambler which his making money machine is roulette. I ask him… U love to gamble on roulette? He say no, it not gambling, if u see roulette as gambling u lost money… He earn 200sgd everyday n he stop. He told me he don place on number. He only place the outside. examples: if it comes out 4 odd number in a row, he will buy even on the 5th round… U hv to know how the game is play n know it well in order to earn money from it. No matter how the roulette ball jump. It eventually will hit an even number once… When I think back… Same like forex… When we know the forex well kn how market works, it our investment it our making money machine. So… Is it gamble or not… To mi it not important, most important is we must know how forex works kn market well … N earn money from it n not lost money. Agreed?

I would really rather trade Forex than gamble on a roulette, regardless of how one views the roulette.

Yes agreed, that y I’m still in forex. Lol

its a no win argument it relative to the individual

Its not the gambling we think. It doesn’t involve any games, dice, or bets we played at casino sites . For me, its a kind of gambling of higher risk, high returns kind of thing. Gambling on what’s the best decision to do, knowing where to buy less, sell more and etc. Its more on mental game and analysis.

This was the 1st question that was asked to me by the interviewer when I first entered the Financial markets. :slight_smile: hahah

These are completely different industries that are kept far from each other because it is a big business. I understand this, and that’s why I started to focus on only one direction, which is gambling. It turned out to be the most interesting for me, so I started to develop my skills in this business, trying to make a big profit. I succeeded perfectly with W88 so that you can achieve the same result without any problems. There are no limitations in this business.

It would be gambling for you if you played with real money without sufficient knowledge! But for savvy traders, it’s all about the money! Because they are really confident in their trading activity! They even trade with a high probability ratio! Forex trading is more than just buying and selling; to be a regular performer, traders must have a strong understanding of technical and fundamental analysis! There is no link between luck and success!