Forex is not like gambling

Nov 30, 2020 at 07:28
3,702 Views
77 Replies
Member Since Apr 03, 2021   470 posts
Aug 17, 2021 at 23:18
Forex trading is buying and sell transaction, this is a real business, but usually, traders that come to join in forex want to speculate in the market, but forex is not gambling, this is a high-risk high gain trading business, anyone trader that doesn't accept the risk, better stay away from forex because this maybe not suitable for them.
Member Since Dec 28, 2020   187 posts
Aug 20, 2021 at 06:42
Oktaviani posted:
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.
Exactly, trading can’t be compared with gambling, these two are way different things. Trading can not be done without proper knowledge and plan whereas we do not need any strategy and any plan for gambling.
Member Since Mar 28, 2021   617 posts
Sep 04, 2021 at 13:07
Yes forex isnot like gambling. It's currency trading. Ro make money eee you need enough skills and experience. Otherwise you won't be able to make any money.
Member Since Jul 19, 2020   751 posts
Sep 04, 2021 at 13:49
@Akasuki yes you are right. Trading is not like gambling. But some people make it like gambling. They trade without any rules.
Member Since Sep 25, 2021   3 posts
Sep 28, 2021 at 20:35 (edited Sep 28, 2021 at 20:36)
You are absolutely right! Gambling and casinos are just a game, yes for money, but it is a game, there are rules in these games, and there is no competition. Everything depends only on your skills in this game and on luck. In trade, everything is completely the opposite. There must be an ability to analyze what is happening in the world. There are fundamental rules and everything, in fact, you have a huge field with a crop in front of you and what to do with it is up to you. It's not like playing [url=https://13.113.122.156/]Togel[/url] or anything like it, it's a real business. If you came into trading with the mindset of a casino player, then you will fail, you must think coolly and without hesitation, then you will succeed!
Member Since May 27, 2021   57 posts
Sep 29, 2021 at 11:20
According to me, forex trading is taken as gambling by those who consider it a quick money making machine while there is nothing like gambling in the forex market, the only thing which works here is knowledge and skills.
Member Since Jul 19, 2020   751 posts
Sep 29, 2021 at 13:40
@croisssan Yes. Also they do not have necessary knowledge and skills. If a person has enough knowledge about Forex trading, he won't treat it like gambling.
Member Since Jul 20, 2020   399 posts
Sep 29, 2021 at 14:49
CocoChannel posted:
According to me, forex trading is taken as gambling by those who consider it a quick money making machine while there is nothing like gambling in the forex market, the only thing which works here is knowledge and skills.

Agree with this but also its probability with the math in our favour. We have a statistical edge once it is played out over a number of trades we will be up. Similarly big betting companies arent 'gambling' they know in the long run they will be profitable due to statistics
Member Since Jun 16, 2020   57 posts
Oct 01, 2021 at 06:33
Anyone can go to a casino and play with their money on their luck. While trading requires strategizing and complete market research, without which trading is impossible.
Member Since Jul 20, 2020   399 posts
Mar 03, 2022 at 08:13
Casinos are a game were the edge of probabilities are in the 'House's' favour. In forex once you stick to rules and management that edge is in your favour. That distinction means everything
Member Since Oct 02, 2014   909 posts
Mar 03, 2022 at 08:35
Depends how you look at it I guess. I just saw the Carl Icahn movie on HBO. The guy said it's all gamble in the markets. You can't really be sure you gonna get the desired outcome. Soros says you have to rely on your instincts and more or less guess what's gonna happen.
Positivity
Member Since Mar 08, 2022   15 posts
Mar 11, 2022 at 03:56
Absolutely not, but it can be easily mistaken that way if there is not proper knowledge on what you are doing in forex trading.
Member Since Jan 06, 2022   19 posts
Mar 11, 2022 at 07:14
Keep in mind that trading in the Forex market can be dangerous. There are several threats to be aware of, all of which can result in financial ruin. Trading strategies that are meticulous and well-planned, on the other hand, will produce positive outcomes and assist you in becoming a professional over time. You shouldn't base your entire strategy on short-term goals and objectives, and you'll become better with practice. Keep these factors in mind at all times, and remember that forex trading is not a game of chance. Your decision-making skills will improve as a result of accepting this, and you'll be able to learn how to create effective trading methods. Playing slot machines/gambling is not the same as trading forex.
Member Since Feb 16, 2022   67 posts
Mar 19, 2022 at 07:26
Forex is how you are using it for. If you like to gamble, it’s up to you because you can do this. But, if you are here for professional trading, you can also do that. There are several other strategies like scalping, long time trading, hedging etc. So sketch out your own strategy before getting into trading.
Member Since Mar 11, 2022   18 posts
Mar 22, 2022 at 06:49
Forex is not pure speculation. There are skills that traders have to build before placing a trade. Fundamental & technical analysis, trading psychology, risk & money management are some of the few skills among many others. The more the traders know about these skills, the more they can increase their chance of winning trades.
Member Since Feb 15, 2022   183 posts
Mar 22, 2022 at 11:21
FXOday posted:
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.
To be honest, Money Management is very much important! There is no way to make quick money in Forex! On the other hand, which traders try make quick money here, end of the day they lose their full capital!
Member Since Nov 06, 2018   83 posts
Mar 23, 2022 at 09:51
UweMoench posted:
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.
But you can stick to a system the same as you do with gambling and you either win or lose. Same with trading.
Member Since Mar 11, 2022   51 posts
Mar 24, 2022 at 07:59
Forex is not gamabling because to become a successful trader you need a trading plan and skills. However, that is not the case with gambling.
Member Since Mar 11, 2022   38 posts
Mar 24, 2022 at 09:43
SteveFx11 posted:
FXOday posted:
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.
To be honest, Money Management is very much important! There is no way to make quick money in Forex! On the other hand, which traders try make quick money here, end of the day they lose their full capital!
Traders can use strict money and risk management strategies while trading to mitigate the risks involved in trading. Whereas in gambling people either win the whole amount or lose the whole amount.
Member Since Feb 04, 2022   9 posts
Mar 24, 2022 at 11:04
Forex is only different from gambling if you believe that forex price movement is predictable. If you cannot predict the price movement accurately then you are just gambling
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