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 /4/13 · Forex is completely gambling as like you are doing it in Casino, but Casino is better than forex because Casino is based on your luck but forex is man made machine which want you to loose only. (hungry of SL and opposite trend to your order)!Reviews: 94 Forex trading is generally not like gambling although sometimes, people can use Forex as a method of gambling by not using the proper risk management strategies and/or trading recklessly. In order to trade profitably, Forex traders must take adequate precautions and learn to trade the market before participating in blogger.comted Reading Time: 4 mins
Is Forex Trading like Gambling? | Forex Broker Reviews
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 is forex like gambling 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. In other words, stacking the odds in your favor. In a previous lesson, is forex like gambling, I wrote about price action and confluence. Forex trading is is forex like gambling ultimate form of gambling.
We get to review past price action before putting on a trade. Is forex like gambling key is finding the right Confluence Factors that stack the odds in your favor. All of these factors mean a higher probability that this trade will make us money, is forex like gambling, 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 my name, email, and website in 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 of winning money — that sounds like trading to me.
Every business gambles to some degree, not just the trader. Hey Justin, If you think that way, you can say parents looking after their children and providing them is forex like gambling 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, is forex like gambling. 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.
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, 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 results have improved from the last time we had this exchange.
You see, to become a good doctor, students are required to go to school for 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 is forex like gambling are good at it, you keep the knowledge to yourself. 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 is forex like gambling sense. If you are really serious about it, 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. is forex like gambling changer is gambling? buy and sell of currency is gambling? there is a lot of difference between Forex and gambling. Investing, 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, is forex like gambling. 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, this post is about trading, not investing. Those are two very different things, is forex like gambling, especially is forex like gambling 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 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. The 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 forex like gambling.
Trade Like a Casino for Consistent Profits by Adam Khoo
, time: 16:53Is Forex Just Gambling? - A Trade Game of Skill or Pure Luck
/6/8 · Trading Forex isn’t gambling - Here’s why Unlike gambling, there is no “house” in Forex trading. Your competitor on the market is another trader who has his/her own interests. In short, trading Forex is more like a zero-sum game where some people win and Yes, it is gambling when one treats the Forex market like a huge Jackpot machine or Roulette table where the hope of winning is dependent on nothing else but pure luck. The problem with casino gambling is that the odds are stacked heavily against the gamblers /11/26 · Quick answer is; yes it is the way most people trade. Many traders like to see themselves as professionals or business people. Most Forex traders do not see themselves as gambling when they are trading. Many of these people are business people or industry professionals outside of trading and have high power job blogger.comted Reading Time: 7 mins
No comments:
Post a Comment