johnnykanoo, you responded to my thread, but it was removed by a moderator.
Here is the message that has just been posted:
greg your idea of why forex isnt gambling is because there is no controlled influence over it?
what influences the dice to land on snake eyes or total 7?
forex is gambling at least somewhat heres why?
*You have to risk money to make money
You can’t possibly know the outcome*
having said that I will say a smart and savvy trader can stack the odds in there favor just like the casinos do
Coz the casinos don’t know the outcome either but they play on probabilities. As a trader you must also play on high probabilties.
Also another benefit which can be a double edged sword is leverage. Leverage allows you to trade more money than you have so you can earn and win faster or you can lose faster.
At the end of the day trading is a speculation but if you practice money management and look for high probability trades you can succeed at it.
. . . .
It looks like you have an opinion, and there is nothing wrong with that. I find it difficult to agree with you, not because you are wrong, but because you don’t have a source. What are your sources? Feeling argumentative? Putting a veil on your insecurity by making a statement that doesn’t agree with something someone else said – and believing it?
Forex is a money market. It is not a designed game. Whenever one enters a position, they create an investment The outcome of this investment depends not on chance and fortune, but on the trader’s understanding of the dynamics and condition of the World economy. This requires a tremendous amount of knowledge and skill.
Could forex be gambling? Of course. But is it gambling? It’s not. And my article makes a point that explains why it is not considered gambling. On the contrary, casino games are gambling in all cases without exception - a game of roulette or black jack cannot be an investment under any circumstances. Above that, some of the people who begin learning about trading forex feel the thrill, and some continue trading just because of that thrill. The entire casino industry is based on that same feeling and it usually serves as the motivation for people to enter gambling games. The whole flashing-light extravaganza is a visual ramification of that emotion.
Wikipedia:
Investments are usually not considered gambling, although some investments can involve significant risk.
Many risk-return choices are sometimes referred to colloquially as “gambling.” Whether this terminology is acceptable is a matter of debate, but generally the following activities are not considered gambling:
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Securities derivatives, such as options or futures, where the value of the derivative is dependent on the value of the underlying asset at a specific point in time (typically the derivative’s associated expiration date)
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Foreign currency exchange (forex) transactions
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Prediction markets
There are reasons for this.
The player of a casino game has no choice over hitting a jack-pot or winning money consistently because he or she has limited control over the game (and in some games - the one-hand bandit, the player has 0% influence or control). One of the most obvious examples how gambling is different from investing would include:
The roulette player [B]must[/B] enter a game, or a bet. Whereas a trader makes a decision whether to enter a “game”, when to enter, and [I]why[/I].
The odds are [B]intentionally[/B] stacked against the player of a roulette which makes it IMPOSSIBLE to win over a long period of time, it is just not possible. On the other hand, In any type of investment, forex or not, the odds are not stacked against the investor [I]intentionally[/I].
Having exceptional intellect will help make money in forex over a period of 10 years. But it will not help you win a series of casino games for a period of 10 years.