Is forex like a gambling game?

[Babar222]

Forex trading is a real business in all over the world not gambling. It is gambling for those who have no knowledge about trading and if someone has good market knowledge then forex trading is great business for them to earn good profit everyday.

 

[MaTa]

This is a interesting question that almost every friend had asked me. When I started forex trading I also thought it to be like gambling, but this manner of thought was caused by lack of knowledge about forex trading. In life there is every decision what you take like gambling. When you'll start your own business the percentage getting failed is much higher than 50/50. If you want to change anything in your life you have to take risks - this is my motto.

 

[budado]

For me forex is a gambling. We do gamble our money in here. We can end up losing every thing. Unlike other forms and ways to make money. In forex trading we can end up having so many loses. I do recommend that we study analysis first to minimize the risk of losing. But still if we don't know 100% for sure that we make money then we gamble.

 

[MaTa]

We don't know nothing in this life 100% for sure - so everything is in your opinion like gambling.

 

[sindarin]

Forex in a sense is business with gambling element, trying to make uncertainity become more certain by using analysis and proper risk management to avoid risk. What makes it different that forex has its own market while gamble is own by the host and it could be manipulated easier, but in forex this thing is very hard and even need more resources(read: money), even for those big bankers.

 

[budado]

Its gambling in the sense that we can loss every thing. But in my part I don't think I consider forex trading as gambling anymore. I only base my trade on my analysis. So its more I'm gambling with my analysis. If my analysis is good then I can earn great.

 

[Decub]

But then, here, it is a gamble with a plan and also a risk prevention plan as well. It isn't like sitting on the gamble table and lose out when you lose. One thing I like about Forex is that it's not a winner takes it all thing. At least, it gives you a chance to still protect your account.

 

[TenkoFX]

we could have been like gambling if we are trading in forex trade without any knowledge and just rely on luck only, just click buy and sell without doing analysis. We should be able to understand knowledge well to be able to trading well too and get profit consistently

 

[budado]

Forex is not a gambling game. We can make good income in here if we know how to trade. So far so good that I do earn great amount of money. I'm really focus right now in making one good earning. I'm so interested to see myself having so much profit in here right now but I do it because I do analysis.

 

[sindarin]

Of course, forex trading is not gambling. Try to use demo account to start trading in forex. And demo account will give us trading experience to make us be better in forex.

For general it is same but to be specific, forex and gamble are different things. The difference from my own glance is the risk management which is very different, aside from that the analysis of Forex and Gamble are different, and forex has market while gambling is not.

 

[David Cameron]

If you take it Gamble, its gambling. Fate is fixed but by systematic way of hard working it can be changed. That means if I have no deep knowledge, no deep thinking, no practicing demo, no trying hard to acquire experience about Forex, then I will have to count 50/50 lose or profit. One is lost, at the same time another is gained. Its reality and it happens for all of the equation.
1.(one) Who is the best experienced
2(another) Who is better experienced

 

[TenkoFX]

Forex trading or investing in the financial market comes under speculation. Gambling relies purely on luck where as success in speculation can be achieved through proper analysis and risk mitigation techniques. With proper planning, a trader can successfully make consistent gains where it is not so with gambling. No amount of experience or knowledge can guarantee profit in gambling. Years of practice and dedication can lead a trader in the path towards financial success where as it is not so in the case of gambling.

 

[Johnson]

No way. Forex is a professional market with Billions of Dollars in the Forex Market on daily basis and also there is a plan behind every trade execution, so we cannot compare Forex market with Gambling Market due to different Dynamics.

 

[sindarin]

But gambling is a big business here too so you still can compare it to certain extent. In my own opinion gambling has some parts which is similiar to forex. The difference is only from basis of prediction, we are guessing in gambling while forex we have indicators for sure.

 

[Johnson]

But there are 2 different dynamics of the Forex and Gambling and that's why I said it earlier as well that Forex is a business that people treat in entirely different way as compared to the Field of Gambling.

 

[sindarin]

Forex in few parts do like gambling, and many people admit it too. And what do you mean as different dynamic? You mean the movement or what? Forex for sure are different for people who want to speculate and make a prediction or gambling for someone who want to guessing.

 

[CahCuncun]

Forex in few parts do like gambling, and many people admit it too. And what do you mean as different dynamic? You mean the movement or what? Forex for sure are different for people who want to speculate and make a prediction or gambling for someone who want to guessing.

Right, because forex is not as simple as like that. Because we must really understand market movement,characteristic of forex market to make us be more better when trading. And then we also must have good trading psychology

 

[sindarin]

Forex is definitely different from the thing like Gambling, because in the Forex Market there are many professionals and they are working really hard to find out the best way to get some profits in the market.

How about in gambling, there are some experts there that continously getting money and receive money from others. Forex is not gambling because this is basically different things where we exchange something in forex which we called as trading.

 

[budado]

I will give you an example of the thing i tried .. To make you convince that luck is included in forex. When i was very new to forex. I remember the first or second order i made 50$ from just 5$. And after that when i day by day understand the basics of forex and learn some signals and strategy, i failed to get any profits. Even with the help of some indicators installed like the CANDLES indicator, i failed to hit that much.

First and second you made 50 dollars out of 5 dollars trading capital only? Can you elaborate? What pair did you trade and what lot size and what leverage and what price did you open a position and what price did you close your position. Because even if you going to trade the biggest lot size using the highest leverage. I doubt that theirs any pairs that has high volatility and breakout that can result for 50 dollars earnings out of 5 dollars trading capital.

 

[CahCuncun]

Forex is a sort of business which require attention and also a bit of research so that you can achieve success in the market, so the best this is that you need to separate Forex with the Gambling and treat it professionally.

Yes, we also must have good skills, both in controlling, analyzing and managing money. Try to use small amount first to hone our skills in controlling, analyzing and managing money. If it can survive, we can trade with larger amount