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Forex is not like gambling

Nov 30, 2020 at 07:28
2,989 Views
75 Replies
Member Since Jul 19, 2020   751 posts
Nov 30, 2020 at 07:28
Forex is not like gambling. I have taken trading as a business and a business isn't a betting it is about speculation. Different traders intentionally or unwittingly consider trading to be betting. Thusly they wind up losing their cash. We should see it as a business.
Member Since Aug 17, 2020   123 posts
Nov 30, 2020 at 09:26
You are right. Many people come to trading with the mindset of a gambler and then claim forex isn't profitable because they lost. But speculation is something that requires skill and a kind of mental strength, it is a lot more nuanced than gambling.
Member Since Nov 02, 2020   36 posts
Nov 30, 2020 at 11:04
Of corse! Forex trading involves identification of patterns and trends and is based on logic whereas gambling is just luck.
Member Since Jul 19, 2020   298 posts
Nov 30, 2020 at 11:37
Yes trading is not gambling. But unfortunately many traders treat it like gambling. They are not willing to develop skills. They trade mostly blindly. As a result they lose money all the time.
Member Since Jul 23, 2020   869 posts
Nov 30, 2020 at 14:19
Gambling is for short time success. You need skill and strategy for long time success.
Member Since Mar 17, 2021   536 posts
Jul 08, 2021 at 13:47
LyudmilLukanov posted:
Gambling is for short time success. You need skill and strategy for long time success.
I agree with you. You need proper knowledge to survive in this market.
Member Since Apr 24, 2016   16 posts
Jul 08, 2021 at 18:03
no not gambling .... u have to have the right indicators working on a good time frame .... trust me
ridarida1158@
Member Since Apr 03, 2021   470 posts
Jul 08, 2021 at 23:29
Yes, forex is business and not gambling, but depending on yours as an account holder, if want to work as a gambling trader you can bet in the forex market based on luck only, and forex trading is not based on luck, it required experience, knowledge patience, forex trading is high-risk business but not as gambling.
Member Since Jul 07, 2021   41 posts
Jul 09, 2021 at 05:16
Forex trading is not gambling, despite the common misconception some people have. Yes there is money involved, and tehre are losses from time to time. But traders know the importance of taking things seriously, try to understand the market and see what is happening in terms of trends, evaluate risks, and have a plan. It also relies a great deal on building your knowledge and while a little luck might be there, in truth it is all about a trader's experience, great care, knowhow and patience too.
Member Since Mar 16, 2021   477 posts
Jul 31, 2021 at 00:08
The forex market is not a gamble. Discipline and plan are required to make a profit.
Member Since Jul 19, 2020   751 posts
Aug 05, 2021 at 14:13
@LukeRachel Yes forex is not gambling but many treat it like gambling. As a result, they do not able to make regular profit. They lose more than they win.
Member Since Mar 16, 2021   477 posts
Aug 11, 2021 at 01:38
UweMoench posted:
@LukeRachel Yes forex is not gambling but many treat it like gambling. As a result, they do not able to make regular profit. They lose more than they win.
Forex trading depends on the investment mindset. The stronger the mindset, the better the profit can be made by analysis.
Member Since Mar 17, 2021   536 posts
Aug 15, 2021 at 08:36
LukeRachel posted:
UweMoench posted:
@LukeRachel Yes forex is not gambling but many treat it like gambling. As a result, they do not able to make regular profit. They lose more than they win.
Forex trading depends on the investment mindset. The stronger the mindset, the better the profit can be made by analysis.
But you also need proper knowledge and skills.
Member Since Mar 16, 2021   477 posts
Aug 15, 2021 at 12:03
SteveHanks posted:
LukeRachel posted:
UweMoench posted:
@LukeRachel Yes forex is not gambling but many treat it like gambling. As a result, they do not able to make regular profit. They lose more than they win.
Forex trading depends on the investment mindset. The stronger the mindset, the better the profit can be made by analysis.
But you also need proper knowledge and skills.
Skills and knowledge are a must in trading. How to manage discipline without trading skills.
Member Since Mar 16, 2021   477 posts
Aug 16, 2021 at 13:27
SteveHanks posted:
LukeRachel posted:
UweMoench posted:
@LukeRachel Yes forex is not gambling but many treat it like gambling. As a result, they do not able to make regular profit. They lose more than they win.
Forex trading depends on the investment mindset. The stronger the mindset, the better the profit can be made by analysis.
But you also need proper knowledge and skills.
Proper knowledge and skills are required. Moreover, it is not possible to make a profit in trading.
Member Since Aug 10, 2021   177 posts
Aug 17, 2021 at 01:32
Forex is not gambling. It mostly depends on patterns and techniques and you can not succeed in it without knowledge and skills.
Member Since Aug 17, 2021   9 posts
Aug 17, 2021 at 10:06
Yes but are the movements of those patterns etc. just random and we see patterns that are not really reliable
Member Since Jul 26, 2021   26 posts
Aug 17, 2021 at 11:33
Yes, different
but I would say that there is something similar to poker game, where you need to have skills and knowledge in order to calculate possible combinations.
The market offers a much more extensive set of combinations, if I can write so. And so planning your trade and using proven 'combinations' is some way to streamline the trading.
Member Since Aug 14, 2014   1 posts
Aug 17, 2021 at 14:47 (edited Aug 17, 2021 at 14:48)
In a nutshell, trading forex is putting the odds(if u will) in your favor same as being able to count cards at the card table, and if you get caught (and you will sooner or later) you will be escorted out and your picture will be on the board in many Casinos. The line is not thin between Forex and Gambling. Ask yourself, does the Casino ever allow you to put the odds in your favor to win or Beat the House? I don't think so!!! 'Drop the Mike'
Member Since Dec 13, 2019   22 posts
Aug 17, 2021 at 19:47
Trading definetely shouldn't be betting. Successful trading cannot be betting, it is just impossible to guess right all the time to make consistent profits.
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