Isn't trading a gambling
- Thread starter Rozers55
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Victorial
Active member
Well, to begin with, you heard wrong. Trading is not gambling and it can never be a scam unless you fall into the wrong hands of those who promised to give you high money in return after you'd have made deposits. You can learn forex on your terms. It might be slow but slow and steady wins the race. My journey of forex trading has not been smooth but I know things better than before and I can make profits with some good moves.
You can read materials online from the best brokers there are. FBS has some materials you can read. You can watch Youtube videos and apply them. I learned how to set up my chart via a video. Trading is lucrative but not without risk. It is not a game of luck like gambling
You can read materials online from the best brokers there are. FBS has some materials you can read. You can watch Youtube videos and apply them. I learned how to set up my chart via a video. Trading is lucrative but not without risk. It is not a game of luck like gambling
Kingstone
Active member
Please quit saying forex trading is gambling because it never is. If you want to lose your money without the tiniest margin of control, just gamble. If you want to control your funds, trade with care. It is often compared with each other because of the risk involved. Mind you, all businesses have two outcomes and two options. It is either you make a profit or losses. With trading, you are provided to analyze your charts with technical tools and fundamentally analysis on the background. So you can know when to place a buy or sell trade. With gambling, there is no right time to win. It is a game of luck.
0In gambling, you have no control over the situation. Let’s take poker as an example, you don’t get to choose your own cards, so you can only hope that your cards are better than others. Whereas in trade, you have control over what you put your money in, and how long you wish to keep it. Let’s take forex trading as an example, you can easily check the market trends before placing a trade and increase your chances of winning. Moreover, you can place stop-losses and NBP to safeguard your capital, but in gambling, once you place a bet, your money is gone if you lose.
While gambling, you can take risks on the basis of your hope and the capital you have in your pocket. But when you are trading, you have to analyse the market before taking any risks. Moreover, to analyse the market, you will have to learn and practice. When there is so much to do to trade, I don’t understand what makes people compare trading with gambling.
Rozers55
New member
Usually when the market is very active and has a huge trading volume, scammers will always be there trying to make money from the people who are interested in trading but this doesn’t make it gambling. If you want to avoid falling into such traps, it’s better that you set realistic goals. This won’t let you believe anything that’s too good to be true. Educate yourself so that you can be rational unlike gamblers.
That’s not true! Forex trading is a legit market where not only retail traders, but banks, hedge funds, big companies, and other financial institutions exchange currencies. There are skills required to become a forex trader. That includes the knowledge of fundamental and technical analysis, risk management, psychology, and money management. People call it gamabling or scam because forex is highly risky, and not everyone makes money.
Typically, those who refer to trading as gambling mean that a trader is not following any system or method but rather is placing bets with no idea about what they are doing except for "speculating on the rise and fall of prices". It is believed that gambling involves taking a substantial risk of loss in order to gain a disproportionately large amount of money. This is the exact opposite of Forex trading, where you are actually making calculated risks with your money.
Sotherefore
VIP Contributor
Based on my experience and understanding of the volatile market I can said that forex trading is a gambling , yes only when you do not understand what to do in the volatile market . but if you have a better understanding of the volatile market and how to predict analyse it perfectly then it is not a gambling .
Even though you are an expert in the market but do not expect to constantly be on the winning side but there are some situations that you may not be able to predict the market accurately and you will always lose ..
To understand if you are a good experts or not the rate of iEarning will always be higher than the rate of losing.. when people don't really understand about the volatile market they are likely to lose their money if they are interested to trade on their own...
There are a lot of YouTube content that can be able able to help a newbie get started in their forex journey but even with this some YouTube content may not be able to give you accurate training on how to be an expert in the volatile market , that is why it is the best for you to go for a paid class or a course on Udemy.
Even though you are an expert in the market but do not expect to constantly be on the winning side but there are some situations that you may not be able to predict the market accurately and you will always lose ..
To understand if you are a good experts or not the rate of iEarning will always be higher than the rate of losing.. when people don't really understand about the volatile market they are likely to lose their money if they are interested to trade on their own...
There are a lot of YouTube content that can be able able to help a newbie get started in their forex journey but even with this some YouTube content may not be able to give you accurate training on how to be an expert in the volatile market , that is why it is the best for you to go for a paid class or a course on Udemy.
Onetech
Banned
E
eldavis
Guest
There are lots of persons who actually consider trading as gambling simply cause of the risk factor involved. They feel since both are risky then it can be also classified as gambling. The major difference between trading and gambling is the luck factor. Trading is not all about luck, there are actually strategies and trading plans needed for trading unlike gambling that has no strategy or plan, it's just based on luck. Another major difference is that gambling is more accessable, anyone can just decide to go into gambling without any real idea of gambling, trading on the other hand requires skills you would have to learn.
Skysaint
Verified member
Well, many people actually do have the mindset that trading is actually gambling with your money and they ignorantly spread this idea to more people. I wouldn't blame them though as they are kind of similar but still do have their differences.
In gambling, you just have to make and investment and hope for the best. I mean, you can't possibly alter the outcome of a gamble once you have placed the bet so it's just a game of luck. But this is not the case with trading, because although their is a chance of you to either lose or gain, there are known ways one could follow to alter the outcome of a trade. For this, we have the trading indicators, the use of stop loss and the likes which will serve more like a guide to boost the chance of your trade turning out a success.
Setho
VIP Contributor
If you are going to look at the both of them comparatively you are going to understand at the end of everything is that you will have to correctly predict where prices going to go or a particular outcome is going to be before you can be able to make money. This in itself is gambling but there is actually a lot of dynamics between the both of them because when it comes to sport betting you are actually at the risk of losing a lot of money within a short time frame and with the right risk management you might be able to conserve money in the forex market.
What do you mean by gambling? It’s probably taking risks and wishing that you make money.
What is trading? You put your money at risk in accordance with your knowledge and strategy. You analyse the market to make your moves.
I can’t see any similarities between the two. Can anyone?
What is trading? You put your money at risk in accordance with your knowledge and strategy. You analyse the market to make your moves.
I can’t see any similarities between the two. Can anyone?
Chibson
VIP Contributor
There is a clear difference between trading and gambling and those that are into trading can definitely tell you the same. Whether you are talking about forex trading or cryptocurrency trading or any type of trading, it requires some level of knowledge for you to become successful while in gambling there are some skills you will use but it largely depends on luck. If you are lucky you will become somewhat successful in gambling but the money you have made or acquired from one game you played can definitely vanish within a day if you do not manage it well. Many people see gambling as something evil because it is very addictive and if you become addicted to it you can lose your life savings. Luck usually place a lot of role because gambling anything can happen, I have personally seen people who become depressed because they lost all their money to gambling and the worst part is that they are still addicted to it. I can remember when I ventured into gambling some time ago and I was not interested in any other thing apart from it. It blindfolded me from discovering a whole lot of opportunities but today I am definitely very free from it.
If you really want to excel at forex trading, you will have to change your mindset because a wrong mindset is worse than making a wrong trading decision. Start on a positive note and determine the truth. Don’t go by what some failed traders have to say about trading. Gain experience before you develop a notion of forex trading.
Forex trading is associated with gambling because a trader speculates the price to either go up or down. But that doesn’t mean that trading is purely guesswork. That’s so because traders have to analyse the market before executing buy/sell orders. For that, it is necessary for traders to have understanding of technical and fundamental analysis. The better your analysis, the better you get at trading. And thus, it is not gambling, but hard work.
Ivo Zetticci
Verified member
No, Forex isn’t gambling. Your trading will go astray if you don’t follow the market trend. Always try to avoid trading in confusing zones because it is risky for traders. Keep developing your strategies and run market innovation. Eurotrader allows traders to apply all trading strategies on their platform.
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