Is forex like gambling

Is forex like gambling

Buying funds or stocks can also be gambling. Some people buy stocks according to their personal preferences like buying BMW when driving a BMW. It’s also possible to gamble while trading currencies. But it’s possible to make money trading Forex and that’s why you can’t state it’s a “game” of luck The short answer is NO, forex trading is not gambling, however, there are certain aspects of forex trading that may resemble gambling to some. It really comes down to the trader and how they are trading, predicting currency swings, and watching trends – if they are trading without proper estimation, then forex may very well be a gamble for them In conclusion, Forex Trading can be gambling if you treat it like gambling. If you have no plan, no strategy, or no systematic approach to the market, and you rely solely on luck, then the outcome will always be a loss because you are trading against the big guys

Is Forex like gambling? | Find out their differences here

To answer the question, is Forex trading gamblingwe have to break it down by the very definition of what it is to gamble.

But before we do that, I want to share a brief outline of the way I used to think about trading and gambling. I remember when I first started trading Forex back in latea little more than 6 years ago. Without fail, one of the first comments people would make was.

Being the naive trader I was at the time, I would get a little defensive and respond with something like. Fast forward to today…boy was I WRONG about that statement. Make no mistake about it folks, trading is gambling! Notice a common theme? Because they want to sell you their product, of course. Because gambling is a bad thing, right? The truth may surprise you. Get Instant Access to the Same "New York Close" Forex Charts Used by Justin Bennett!

What is the truth? It all comes down to putting on trades where the probable win is higher than the probable loss, is forex like gambling. In other words, stacking the odds in your favor. In a previous lesson, I wrote about price action and confluence. Forex trading is the ultimate form of gambling. We get to review past price action before putting on a trade. The key is finding the right Confluence Factors that stack the odds in your favor. All of these factors mean a higher is forex like gambling that this trade will make us money, and it did.

We can learn something from casinos. Then wait for the strange look they give you. Do you think trading is gambling? Save is forex like gambling name, email, and website is forex like gambling this browser for the next time I comment.

You can argue that people who do not have those skills, and there are many of them are gambling. But the few that have acquired the skills and know what they are doing are NOT gamblers. So you are not credible as a trader. I am sorry. You should not be trading. Sorry you feel that way, Justin. Wagering of money on an event with an uncertain outcome with the primary intent is forex like gambling winning money — that sounds like trading to me.

Every business gambles to some degree, not is forex like gambling the trader. Hey Justin, If you think that way, you can say parents looking after their children and providing them with everything in theire capacity believing children would look after them in return when they will be needed and when the children ditch their parent to be in old age homes, the parent were gambling.

An entrepreneur who confidently relies on his hunch and abilities to grow a business is forex like gambling gambling. The investors who invest in companies and shares are gambling. Nonetheless the very individual who is working hard to get a dream job is gambling because most of the time the aspirant does not end up with dream job or to make things worse even jobless.

All of these people know nothing more than the history known to them and they are gambling with their time, money, resources. When I started Forex trading, i started with demo accounts and I traded without doing any analysis. I ended up blowing my full account. I was gambling. It s been 2 years now and I am still in the process of learning, because I dont want to gamble, is forex like gambling.

How do I do that. Not trading based on emotions, trade purely based on facts, get news updates constantly, follow mentors, research, back test. And I am able to make profit now. Those who think it is a serious business or investment venture and do everything necessary for its success, your success is guaranteed.

Good luck folks. So why do some people manage to maintain an edge in gambling, or an edge in trading? Well said, is forex like gambling, Dakao. But folks, if you can loose, it is a gamble, period! I am surprised that we are arguing over this. Tell me. If you are a trader, tell me if your is forex like gambling have improved from the last time we had this exchange. You see, to become a good doctor, students are required to go to school is forex like gambling almost 10 years.

Well, why do people think that trading, which when done well can make you a billionaire, does not require any formal training? In fact it does, but nobody will provide that training because once you are good at it, you keep the knowledge to yourself, is forex like gambling. And if you were right then all the investment banks that have trading desks are also gambling.

Is that what you think? How do you not realize that any human endeavor at which one can become better over time is not gambling? If you have not, please do. And once you have.

Sit down, get yourself a good computer and start learning to read price movements. Get familiar with Elliott Wave theory. Develop some good common sense. If you are really serious about it, is forex like gambling, you will soon develop a different mindset. Until you do though, I am afraid you will continue to lose your hard earned dollar because in fact before you get a serious training you are nothing else but a gambler. And those who are not in it to gamble will take your money.

money changer is gambling? buy and sell of currency is gambling? there is a lot of difference between Forex and gambling. Investing, is forex like gambling, trading, to me is not gambling, as you own shares in the company concerned.

You put your money in a Bank or Building Society and get a fixed rate of interest. You invest in the stock market hoping to make more than in a Bank or Building Society knowing that you are taking on greater risk. Investing in a share one takes into account the fundamentals of the company, how well it is run etc. Gambling is like E G throwing a dice or a game of roulette, where you have no control at all. If we did not have Banks and private people investing in companies, our civilisation would not be so far advanced.

Alex, is forex like gambling, this post is about trading, not investing. Those are two very different things, especially when referring to fiat currency. hie Justinwhat Alex is simply trying to tell you is : gambling is done on the basis of probability whilst forex trading is done on the basis of facts [technical and fundamental analysis.

Is there anyway around this? I have one important question regarding Forex Trading. Elias, the point of this post is that you need to trade like the casinos by stacking the odds in your favor. Trading is not gambling, it is possible to make money in the market, is forex like gambling, only those who know the market how it is moving.

the market always not work in the same way some time you have to away from market. i know that, I done that, I made money. It seems you missed the point of the post, which is to trade like a casino by stacking the odds in your favor.

I agree with you Justin. This is a great post. Easy to understand even for the layman. Thank you. Is forex like gambling similarity to gambling is that the outcome of one individaul trade is unknown and ramdom. You can try to increase proabilities with more confluencies, but it is still ramdom. Serious traders make money via a series of trades with proper Risk Reward.

Absolutely true article. There is no way to guarantee your trade will be a profit. if some body open a restaurant. and he expect people to come to him.

is he gambling,if he is. it is means every thing in our life is gambling. forex needs skills so its akind of a jop.

Is Trading Gambling?

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Is Forex trading gambling? The answer might shock you! - FTMO®

However, there is one small difference with what people commonly refer to as gambling and forex trading Buying funds or stocks can also be gambling. Some people buy stocks according to their personal preferences like buying BMW when driving a BMW. It’s also possible to gamble while trading currencies. But it’s possible to make money trading Forex and that’s why you can’t state it’s a “game” of luck /08/18 · Is Forex trading like gambling? No, in the sense that in gambling the odds are slightly against you or even, while good Forex traders know how to trade when the odds are on their side. Yes, in the sense that any single trade might end in a blogger.com: Hillel Fuld