Jun 22 2021 at 02:05
Forex requires lots of work, knowledge, and patience if you want to succeed
Jun 22 2021 at 02:05
Forex requires lots of work, knowledge, and patience if you want to succeed. You can't make money and become rich overnight because of it. It's a matter of time and patience here. Gambling on the other side, it's about how lucky you can get and some strategies up your sleeve. I made money from gambling but most of the time just because I was lucky enough. but in the end, strategy is on the second scale (not saying that it's not extremely necessary in gambling lol).
Binary Options are known as scam and gambling types so most of the traders likely to prefer forex trading.
How can a business that requires knowledge, skills, effort and time be called as gambling? To me forex is a business that is completely dependent on the efforts we put in.
Forex is not gambling but many traders make it like gambling. When you do not have necessary skills and experience, you will end up gambling. That's why skills are important in trading.
Forex requires lots of work, knowledge, and patience if you want to succeed.
Jul 23 2021 at 04:42
Gambling should not be confused with forex trading. Gambling is just for fun and entertainment but forex trading is a type of business. It requires knowledge about the forex market, its working, lots of planning, patience, and discipline to succeed.
Forex trading is not gambling unlike what some tend to think. Trading requires analysis and careful evaluation, and you need to be knowledgeable. Gambling is only about luck.
Forex is about risks and taking the right ones in order to make profit. It is closer to gambling on sports where you can get an edge with extra knowledge but it is not like casino gambling which is just stupid
Jul 23 2021 at 12:32
michaelshah posted:
Forex requires lots of work, knowledge, and patience if you want to succeed
Yes. Most traders lose their money because of their low knowledge and skills.
I don't personally think that trading activity should be considered as gambling, mostly because these two activities absolutely different. Of course, one can note that in casion as well as on the forex market people always lose money and it turns out as a system. Nevertheless, I don't quite agree with such statement. Gambling has already admitted as the dangerous mental disease which destroys people, while trading can't bring any harm to human's mental health. Of course trading activity also implies some risks which are connected with money losses, however it's real to earn money there in comparison with gambling.
Sep 02 2021 at 07:06
There is a definite difference between trading and gambling. The industry is massive there is no way most would be in it if there was no rhyme or reason. It is important to have a plan and stick to it for sure though
Sep 02 2021 at 12:41
I don’t understand why people compare trading to gambling. I’ve never seen any gambler working on strategies or trading plans. Neither there is any fundamental or technical analysis involved.
@Willowerno Actually people do not cpmpare trading forex with gambling. There are some people who do gambling instead of trading. When we don't know how the market works, we end up gambling.
I believe that these two industries should be separated in general, at least in my mind. These are two completely different options for the job.
Willowerno posted:
I don’t understand why people compare trading to gambling. I’ve never seen any gambler working on strategies or trading plans. Neither there is any fundamental or technical analysis involved.
Both are different. But people don't have proper knowledge that they can differ trading from gambling.
Trading and gambling don't have much in common but some people may confuse these types of activities.
Well, they have smth in common but I don't think that gambling and forex are the same. For example, many people confuse forex trading involving crypto with gambling which is absolutely wrong. While investing it's important to have a lot of knowledge and have a strategy, gambling is much more about luck than strategy. Honestly, I don't recommend people who can't control themselves to gamble and to invest as well. They will lose all their money.
Binary options have earned terrible reputation of being scams. Even the brokers are crystal clear, it is next to impossible to predict where the price will go in ultra short moments. So, I also think that it is more about gambling rather than trading.
