Gambling type of forex games? Is that true?

EbonyJones posted:
No. I don't think so. Forex is not like gambling.

Forex itself is not, binary options kind of are.

Forex trading is not gambling in any way. It needs a person to be knowledgeable to earn in forex trading.

I wonder if it's more difficult than a regular casino? I've got experience with something like that so should I know the basics of forex?

I think that if a person has never dealt with this before, then for him it is completely a gamble. In order to profitably earn on this, you need to constantly be aware of what is happening in the market, take into account the state of the company, its plans and opportunities. Also, do not forget that binary options trading is not safe if you use a broker. Even if you get a bona fide broker, the chances of losing money are greater than earning, because the potential loss on each transaction is higher than the potential profit. To protect yourself from fraud and serious losses, it is better not to use questionable tools, especially when there are alternative, more reliable options for earning money.

I think it is a big misconception that forex can be equated with gambling, this is a job that requires maximum effort and knowledge.

Forex could be a gambling game for those who participate only to feel the adrenaline rush generated by the uncertainty of the result. Participating in forex with a mindset of expecting long-term results can be a good starting point for viewing forex trading as serious business.

Not at all a fan of binary options to be honest. No strategy can work there.

But for some, this option is very convenient and good, because they make a profit there.

Exactly.
Forex seems gambling only to those who want to become rich overnight. But the forex market is not a get-rich-quick scheme. It demands time and patience if looking for consistent profitable trades.

Not really a fan of binary options and I really don’t think gambling is in any way related to forx. They’re both different avenues.

Who learns, develops skills and puts hard work into gambling? I doubt there's anyone. Forex demands all of these and there's hardly any success in forex without them, so what's the point comparing the two.

Forex requires a lot of effort and work from us, and in gambling, the main thing is luck and luck.

Most traders look for 80 to 100% winning strategy. But this type of strategy doesn't exit. Don't do gambling. Even a small consistent percentage can bring you a fortune in trading. We should focus on consistency.

Forex requires lots of work, knowledge, and patience if you want to succeed

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.