Forex is not like gambling
Mitglied seit Jun 28, 2021
1 Posts
Mar 24, 2022 at 13:27
Forex can be gambling if you want it to be gambling. But then results will be similar to what you can expect in a casino. House always wins (in the end). I did gambling in forex for many times. Especially during those hard times when I lost faith in my strategy. Only to be knocked down on the ground. And then to be beaten even harder when I witness how much I could have earned if I was disciplined and patient enough to actually execute my strategy.
I remember one evening I was taking picture with my camera in the streets. I was approached by a stranger and he asked me what I was doing. He listened to me with interest and humbleness. And then he told me that he was a casino addict and that he was waiting for the court the next day. Because he was in debts. He had lost everything - his money, assets, wife, family... His friends abandoned him and the only friends he now had was the casino pals. Guys in the same boat as him. Broke and addicted.
He said to me: what you're doing is beautiful. Don't you ever end up like me.
And he walked away.
Well. I didn't go to a real casino yet. But I went to forex. And I did my part of gambling there. Now I'm learning to trade professionally.
If I ever go to casino - I will go when I'm rich and I'll drive there with my Maserati. Just for the fun. :)
I remember one evening I was taking picture with my camera in the streets. I was approached by a stranger and he asked me what I was doing. He listened to me with interest and humbleness. And then he told me that he was a casino addict and that he was waiting for the court the next day. Because he was in debts. He had lost everything - his money, assets, wife, family... His friends abandoned him and the only friends he now had was the casino pals. Guys in the same boat as him. Broke and addicted.
He said to me: what you're doing is beautiful. Don't you ever end up like me.
And he walked away.
Well. I didn't go to a real casino yet. But I went to forex. And I did my part of gambling there. Now I'm learning to trade professionally.
If I ever go to casino - I will go when I'm rich and I'll drive there with my Maserati. Just for the fun. :)
Professional FX Trader & Capital Manager. I Help Traders Get Professional Exposure, Grow Income And Create Lasting Legacy using Forex Market.
Mitglied seit Aug 10, 2021
178 Posts
Mar 25, 2022 at 02:18
Forex trading is not exactly gambling, and they are not the same thing. Trading forex can always be profitable if you have good skills in predictive analysis. To make money, you must study past and present events and have a good understanding of the forex market.
Mitglied seit Feb 16, 2022
119 Posts
Mar 26, 2022 at 07:05
Forex is not gambling but those who gamble here, Forex is a gambling for them. Greed is the worst human nature that leads a person to gambling. People can hardly benefit from gambling because it’s an illusion. So, come to real time leaving gambling.
Mitglied seit Aug 05, 2021
401 Posts
Apr 04, 2022 at 16:40
Trading seems a bit more secure than gambling once one factors in charts and other data that they are basing their decisions off of; however, we are basically betting money based on what we think will happen.
Mitglied seit Feb 16, 2022
63 Posts
Apr 07, 2022 at 07:45
Forex is a legit business but some dishonest people use it in illicit way to derive higher return from it. Forex is a risky business and so you can apply different techniques to earn more and more money from there but gambling isn’t a proper way of earning. So, trade Forex in the right way.
May 03, 2022 at 06:29
Forex is a speculative market, but that doesn’t mean you will make money with pure guesswork. Forex trading demands skills and hours of practice and study. It requires a method, which certainty is not the case with gambling where everything is a fluke. Hence, they both are different.
Mitglied seit Jun 28, 2022
24 Posts
Jul 13, 2022 at 06:19
See gambling is a pure chance. But it is not the case with forex trading. It requires logic, mental strength and a bit consistency. All in all we can say it requires proper learning before implementing.
Mitglied seit Jun 22, 2022
21 Posts
Jul 15, 2022 at 07:13
Forex trading requires skills, knowledge, experience, and a research–oriented mind. However, gambling is mostly a game of luck. In the forex trading market we trade international currencies and compete against the market's odds and place trades based on technical and fundamental analysis. Those traders who trade live without any prior preparation are the ones who’re gambling.
Mitglied seit Jul 20, 2020
399 Posts
Jul 15, 2022 at 15:24
Gambling is when you don't have the edge in your favour. Backtesting is where you identify the edge
Mitglied seit Jul 23, 2020
869 Posts
Jul 16, 2022 at 07:02
Forex is challenging and that’s why people can hardly survive in Forex. Traders can hardly understand the market flow and as a result of this they cannot make any progress from trading easily.
Aug 17, 2022 at 19:45
This is a big problem.
I mean, a lot of people think that Forex trading is some kind of casino. I'm talking about friends and relatives.
Agree that there are traders whose parents and friends do not believe in Forex and think that this is roulette.
Sad... But there's nothing you can do about it.
I think that every trader must learn to explain people what Forex and CFD trading is. Then more people will understand that Forex brokers are serious financial institutions.
I mean, a lot of people think that Forex trading is some kind of casino. I'm talking about friends and relatives.
Agree that there are traders whose parents and friends do not believe in Forex and think that this is roulette.
Sad... But there's nothing you can do about it.
I think that every trader must learn to explain people what Forex and CFD trading is. Then more people will understand that Forex brokers are serious financial institutions.
Mitglied seit Aug 17, 2022
80 Posts
Aug 18, 2022 at 10:06
To trade in forex, one must examine fundamental analysis and technical analysis . Trading is a skill unlike gambling which is just a matter of luck.
Mitglied seit Jul 26, 2022
52 Posts
Aug 18, 2022 at 12:07
Forex needs a good amount of knowledge on how to place your trades in order to survive in market. It is nothing like gambling.
Aug 23, 2022 at 08:09
Gambling is when you take financial risks and hope that your luck works for you. But when you are talking about trading forex, you are talking about a skill that you need to learn and practice before you are ready to take any kind of financial risk.
Mitglied seit Aug 19, 2021
245 Posts
Sep 28, 2022 at 12:22
Oh I agree with those who prefer to say Forex is business. Because it really does. You can burst and not withstand the competition, or take off and be rich. It is important how developed your management skills are, how quickly you adapt to stress and the ability to quickly process information.
Sep 29, 2022 at 01:08
Forex is real business, buying and selling currency using another currency called pairs. Gambling relying upon luck and is fully speculative. Trading forex needs knowledge and understanding the psychological market. Forex is not gambling but high risk high gain business.
