Gambling type of forex games? Is that true?

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

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.

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

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.

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.

In order to predict the situation in the forex market, you need to work out some points and have some knowledge.

Such financial instruments as binary options have acquired really bad reputation. Judging by the fact that now I don't see the ads about binary options, I think that nobody really trades them.

Sounds weird...

Forex is not gambling. Some people make it like gambling. When you do not have enough skills and knowledge, you start gambling in the forex market.

rinegills posted:
Sounds weird...

Forex trading and gambling are not the same things. I think that it is worth understanding the line that separates these two sides. Forex is a longer-lasting investment that helps you generate passive income, and that's a good thing. Gambling is divided into several compartments and can make an active income but in a shorter time frame. This is what attracts me to this business. I think this is a great system that helps you improve your financial condition if you use the right and reliable platforms.

rinegills posted:

rinegills posted:
Sounds weird...

Forex trading and gambling are not the same things. I think that it is worth understanding the line that separates these two sides. Forex is a longer-lasting investment that helps you generate passive income, and that's a good thing. Gambling is divided into several compartments and can make an active income but in a shorter time frame. This is what attracts me to this business. I think this is a great system that helps you improve your financial condition if you use the right and reliable platforms.

Maybe for some traders but for others (especially scalper). Forex is seen as quick and targeting short term gains

rinegills posted:

rinegills posted:
Sounds weird...

Forex trading and gambling are not the same things. I think that it is worth understanding the line that separates these two sides. Forex is a longer-lasting investment that helps you generate passive income, and that's a good thing. Gambling is divided into several compartments and can make an active income but in a shorter time frame. This is what attracts me to this business. I think this is a great system that helps you improve your financial condition if you use the right and reliable platforms.

I agree with you too. Forex is a long time investment. Where trade can be opened with 95% probability. It can never be gambling.

croisssan posted:
As for me, this is completely different. This is more of a game than an income and it is worthwhile to clearly understand it.

People do not really consider trading forex to be gambling. There are people who gamble instead of trading. When we aren't sure how markets work and we are unable to understand the market, we gamble.

Well, I guess that binary options is just a type of trading which is much more difficult than forex trading, that's why there are lots of traders who believe that it's easier, and they as a rule lose all their accumulations. The matter here is that binary options require another approach. If we speak about forex trading, then we have to comply with several rules and such things as risk management practices and money management, while binary options require the same, but in another form. There are plenty of techniques how to become successful due to binary options, however traders don't like to explore these techniques, they prefer forex predominantly.