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Is forex gambling?

JC (johncarrus)
Jan 02 2014 at 07:37
42 posts
I say it's a 55/45 chance lol.. slightly better odds than gambling

When the waves are good- Ride them, If they are not, wait for the next set
Ali Zainal Abidin Bil Fagih (Cleeon)
Jan 03 2014 at 03:59
31 posts
just opinion, please, I do not try to make an offense post here.

more important than this discussion for Our forex trading is keep profits, except continue making post there give profitable value for You, better wait and see :)

Helas
Jan 16 2014 at 11:06
2 posts
Ironman posted:
Well, a few things need to be corrected at once.

1. There is no God... Not of any kind. If there was, why would he/she/it let the world be the way it is. Forget it. You'll do yourself a huge favour. According to religions there are over 2000+ gods. One more or less will not make any difference.

2. You will NEVER know in what direction a specific market will go. NEVER. If you enter a trade, it can go EITHER WAY. Period.

So, why isn't this gambling?
If you have a good system, try it for 200 trades. (Some will, of course, disagree with this number.) A good system will, on a Risk/Reward-ratio of 1:1 win 55-80% of the trades. (80 is a LOT.)
If your trial gives you anything lower (on a 1:1 RR), leave it be, and try another.

So, about the gambling...
When you look at it on just one trade, it is gambling. But if you have trialled your system correctly, you'll know that when you set a trade, you'll still win about 60 of 100 trades in the long run, but for that one trade, you have no idea. EVER. ;)

No matter what any system seller tells you...


So, why go Average Joe tell you it is gambling when you ask him? Because he has no clue.
If you want to do some trading, trust your own judgement. The average person will have no idea what you talk about.

Cheers and good luck.

/Tomas



I have read your post and found it really nice and interesting. I am totally agree with you and would like to say thanks to you that you share this post here with us.

Market Analyst
marketanalyst
Jan 16 2014 at 20:45
116 posts
i believe that if you enter/exit trade without proper analysis and don't know how to trade profitable continuously then it is gambling.

skaboy
Jan 16 2014 at 20:46
39 posts
You can either go long or go short, so it's basically gambling.
Can you attempt to improve your odds of winning?
Sure you can. Like read the trends like the card readers do.
Like draw them fancy charts.
You are still gambling.
Gambling.
Gambling, yeah.

aleku82
Jan 16 2014 at 20:47
2 posts
ArdiFX (ahuruglica)
Jan 16 2014 at 21:23
852 posts
@aleku82

It is a 'good gambling strategy' 😝

Ironman
Jan 16 2014 at 21:33
70 posts
Aleku82: No, to Martingale your way through anything is hardly good money management.
(Or any variation of Martingale...)
Keep it up and let me know when it goes bust. ;)
If you win on level trading, then you are winning.


The OP in this thread wanted to know if Forex trading was gambling according to his religious beliefs.
And, yes it is... That's why some brokers have special accounts for muslims.


ArdiFX (ahuruglica)
Jan 16 2014 at 21:57
852 posts
@Ironman

Some brokers offer accounts for muslims not because forex is gambling or not, but because those type of accounts are swap-free.

Interest is not allowed on islam religion.

JoeDorman
Jan 16 2014 at 23:27
26 posts
aleku82 posted:
https://www.myfxbook.com/members/aleku82/aleku-gkfx/780174
What do u tihnk guys? Is this gambling or a good strategy?


Discribe your strategy please.
I think, all strategies whiere makes more than 10%/month, is high risk and will bust.
Some young traders have a very good time, but not for long.
They comes, and bust here accounts, fewer or later. This type of traders are much, here and anywhere.
Whatever, this traders we show in the mass of traders, who continious loose.

Whats your strategy?

Good luck
Joie

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