At first I argued in another thread that speculation was a form of gambling because you were wagering on random events.
Until I read this:
‘Speculation is often misunderstood as being the same as gambling, when in fact it is just the opposite… Gambling involves creating a risk that otherwise would not exist trying to profit from it… while speculation is coping with an inherent risk in such a way as to minimize it and leave it to be borne by whoever is best equipped to bear it.’
This makes perfect sense because risk management is such a huge part of trading if not even all of it.
What are your thoughts on speculation vs gambling? What about things like binary options or index trading?
PS The quote is from the excellent book Basic Economics by Thomas Sowell.
Had you conducted a basic search before initiating this one you’d have discovered there’s already at least one thread up & running on this ridiculous topic.
It’s quite a contentious subject on here, as you’ll undoubtedly find out if this latest hot cake takes off.
There must be a good half dozen threads dealing with this topic.
Trading/Speculating vs. Gambling really has been discussed exhaustively on this forum.
It is a good topic. But, it has been talked, and argued, and debated, and ridiculed to death — for several years.
If you want to become a “lightning rod” on this forum (or any other forex forum), just bring up that particular topic.
Forex vs. gambling is right up there with politics and religion, when it comes to generating contentious cat-fights.
In the future, you can get a quick summary of the past discussion on almost any topic by using the [B]Search[/B] feature on this forum. Go to the top of this page (or any forum page) and type a keyword into the Search box.
Babypips Search isn’t quite in the same league with Google Search, but it’s pretty useful.
To see how the forex vs. gambling topic has been fought over in the past, type “gambling” into the box, and you’ll find lots to read on this subject.
Sorry for the duplication.