Is forex gambling?
May 10, 2013 at 09:29
IS Forex trading gambling? If you're trading on the roll of a dice, with no risk to reward awareness, no strict strategy and no clear risk management then Yes and I'm afraid it is.
In other terms, spread betting trading accounts are considered gambling whereas forex, ecn or cfd accounts are not, especially in the eyes of the government despite them allowing you to do, effectively, the same thing.
In other terms, spread betting trading accounts are considered gambling whereas forex, ecn or cfd accounts are not, especially in the eyes of the government despite them allowing you to do, effectively, the same thing.
When you lose, don't lose the Lesson
May 11, 2013 at 08:33
moerwadi posted:
FOREX is not an gambling act, but could fall to gambling when the perpetrator does not understand how to trade FOREX, either did not understand graphs, curves, indicators, trends, economic conditions, etc.
Forex can be said to be gambling if we open a position without first analysis, this is called 100% chance.
This is my opinion
I 'm consent with your idea...
May 11, 2013 at 21:09
(editado May 11, 2013 at 21:11)
You only can win with money, and more money.
Start with a small money and small risk.
If you show a big DD, move more money to the account.
Close only when in profit !!!!!!!!!
Be patience!!!
After a DD session, remove the moved money and start with a small capital and small risk again.
Every time your account need money, give it the needed money!.
So you win, and not loose.
Forget indicators and all what you learned to understand the forex market.
Thats the secret of forex.
All another is gambling jiddish vs gojim.
Thats all what you need to know!
Start with a small money and small risk.
If you show a big DD, move more money to the account.
Close only when in profit !!!!!!!!!
Be patience!!!
After a DD session, remove the moved money and start with a small capital and small risk again.
Every time your account need money, give it the needed money!.
So you win, and not loose.
Forget indicators and all what you learned to understand the forex market.
Thats the secret of forex.
All another is gambling jiddish vs gojim.
Thats all what you need to know!
Wir schlage den ForexMillioaer
May 11, 2013 at 21:35
JoeDorman posted:
You only can win with money, and more money.
Start with a small money and small risk.
If you show a big DD, move more money to the account.
Close only when in profit !!!!!!!!!
Be patience!!!
After a DD session, remove the moved money and start with a small capital and small risk again.
Every time your account need money, give it the needed money!.
So you win, and not loose.
Forget indicators and all what you learned to understand the forex market.
Thats the secret of forex.
All another is gambling jiddish vs gojim.
Thats all what you need to know!
I'm sorry but that is some of the worst advice I have ever heard.. Have you ever heard of the Nick Leeson case? the old trader that bankrupt barrings bank with that mentality... Don't dig yourself a hole you cant get out of when trading. Cut losses and let profits run.
"The propensity to truck, barter, and exchange one thing for another is common to all men, and to be found in no other race of animals." -Adam Smith
Membro Desde Apr 14, 2013
402 posts
May 12, 2013 at 16:47
Hisams posted:I would not agree on letting profits run. Only, because in a market which doesn't have more then a 2000 pip range. The fact is a plus 150 pip trade can turn into Break even on a Friday. Not to mention the fact, that your taking a position based on 1 moment in time. Once your in your position so many things can/do occur which should cause you to change your position. Bias is the evil of forex. Which is why no one can honestly make consistent profit.JoeDorman posted:
You only can win with money, and more money.
Start with a small money and small risk.
If you show a big DD, move more money to the account.
Close only when in profit !!!!!!!!!
Be patience!!!
After a DD session, remove the moved money and start with a small capital and small risk again.
Every time your account need money, give it the needed money!.
So you win, and not loose.
Forget indicators and all what you learned to understand the forex market.
Thats the secret of forex.
All another is gambling jiddish vs gojim.
Thats all what you need to know!
I'm sorry but that is some of the worst advice I have ever heard.. Have you ever heard of the Nick Leeson case? the old trader that bankrupt barrings bank with that mentality... Don't dig yourself a hole you cant get out of when trading. Cut losses and let profits run.
Focus on pip-drawdown
Membro Desde Apr 18, 2011
45 posts
May 17, 2013 at 11:18
Forex can be a gamble depending on how you trade the market, it is gambling if you just click buy and sell 'HOPING' it goes to you favor, but it's not a gamble if you analyze the market, use the correct money management, once you are sure where to go, hit the BUY or SELL button.
Membro Desde May 06, 2013
11 posts
May 23, 2013 at 06:06
In my opinion the only definition of Forex as Gambling is the one applied by the relevant taxation department. In my case the Aus Tax Office offers options including taxing as a capital gain or this one...
'The $250,000 balance election, very broadly, enables you to disregard specified foreign currency gains and losses on certain foreign currency denominated transactional or credit card accounts (called qualifying forex accounts) with low balances (generally no more than the equivalent of A$250,000 in total).'
So I will be asking my accountant which one best suits me as I consider it a greater gamble than horse racing which is generally exempt. Except for Zelko and David Walsh anyway.
'The $250,000 balance election, very broadly, enables you to disregard specified foreign currency gains and losses on certain foreign currency denominated transactional or credit card accounts (called qualifying forex accounts) with low balances (generally no more than the equivalent of A$250,000 in total).'
So I will be asking my accountant which one best suits me as I consider it a greater gamble than horse racing which is generally exempt. Except for Zelko and David Walsh anyway.
May 23, 2013 at 11:25
If you like to gamble, forex can be the right place to do it. After all you have 50% chance (minus spread) to be right.
If you want to analyse, manage risk, ect.....you can do it too, and I dont think It will be gambling. This is why technical and fundamental analysis exist.
Regards
If you want to analyse, manage risk, ect.....you can do it too, and I dont think It will be gambling. This is why technical and fundamental analysis exist.
Regards
May 24, 2013 at 07:07
jmlforex posted:i agree with you, technical and fundamental analysis because without it you will go bankrupt..
If you like to gamble, forex can be the right place to do it. After all you have 50% chance (minus spread) to be right.
If you want to analyse, manage risk, ect.....you can do it too, and I dont think It will be gambling. This is why technical and fundamental analysis exist.
Regards
Membro Desde Jan 10, 2013
286 posts
May 25, 2013 at 01:37
50% chance - (minus spread) = <50% (in turn = No chance unless you have improved the chance mathematically)
May 25, 2013 at 07:29
Let me know if you can go to any racetrack in the country,place your $2.00 bet. Then go watch the race, you see your horse just does not feel like running today. Go to the cashier that took your $2.00 wager and tell him or her you want half your bet back $1.00 . Which in Forex that might be called a stop loss. I don't have to tell you what the answers would be. Now that is gambling. Forex is no where near gambling no more than th stock market. Case closed.
Membro Desde May 11, 2013
45 posts
May 25, 2013 at 07:33
Anyone who asks me if forex trading is gambling I say well if it is, i am a damn good gambler!
GiftedFx
Membro Desde Jan 10, 2013
286 posts
May 25, 2013 at 09:18
chrish9070 posted:
Anyone who asks me if forex trading is gambling I say well if it is, i am a damn good gambler!
If you were a good gambler you wouldn't be here would you? You would be spending all your winnings rather than waste time on here.
Membro Desde Jan 10, 2013
286 posts
May 25, 2013 at 09:28
franka posted:
Let me know if you can go to any racetrack in the country,place your $2.00 bet. Then go watch the race, you see your horse just does not feel like running today. Go to the cashier that took your $2.00 wager and tell him or her you want half your bet back $1.00 . Which in Forex that might be called a stop loss. I don't have to tell you what the answers would be. Now that is gambling. Forex is no where near gambling no more than th stock market. Case closed.
Your scenario leads us to believe you have no clue about making money in forex lol
Let me make things clear your SL puts you in a $2 losing position. If you didn't have the SL you would lose your entire life earnings the speed you lose it at would rely on the leverage you use.
That's why brokers make money and 98% of so called traders make brokers rich lol
If you made money they would lose money.... it's a balance i.e they don't mind losing small amounts to gain BIG amounts where they can.
Put it this way either you make money or the liquidators of the brokers make money. So who will it be?
Go research the software they use to scam you out of your money... especially the company's that make them the software.
I can give you a headstart straight to one of the software developers that help brokers make you broke lol
Membro Desde May 11, 2013
45 posts
May 25, 2013 at 16:13
Well actually thats not true at all, I run a live trade room with a partner giving between 8 - 12 hrs of my time each day so they can make the same money and trades I take right in front of their eyes. Actually trade for a US hedgefund managing over 10 million dollars. Just some people like to give something back and help others who are struggling. Iv had a few people quit their jobs and become full time traders after being with me for a while. Realise there is alot of scams out there and its sad I know but there are some people who do like to help!
GiftedFx
Membro Desde Jan 10, 2013
286 posts
May 25, 2013 at 19:27
Let me guess you been doing this for less than 2 years right?
Membro Desde Jan 10, 2013
286 posts
May 25, 2013 at 22:51
chrish9070 posted:
Well actually thats not true at all, I run a live trade room with a partner giving between 8 - 12 hrs of my time each day so they can make the same money and trades I take right in front of their eyes. Actually trade for a US hedgefund managing over 10 million dollars. Just some people like to give something back and help others who are struggling. Iv had a few people quit their jobs and become full time traders after being with me for a while. Realise there is alot of scams out there and its sad I know but there are some people who do like to help!
I tell you what why not start a PAMM account and let us invest in it for free since you give back so much lol....
