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Forex Trading and Gambling - Are they the same thing?

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  • #16
    If someone said forex is gambling, so for other business and lif aspect in our life is gambling.

    Coffe shop, who knows your coffe product would be sold in profit or even goes bankrupt for next few days?

    Used car sales, who knows the car would be sold in profit or even lost by burglary next few hour?

    So does pips count who knows it will going south or north next few minutes?

    All is done by our skill, experienced and statistic probability, but nothing in this world is sure.

    No, it aint gambling forex is business just like other usual business!


    Sent from my iPad using Tapatalk HD

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    • #17
      Originally posted by bismillahwd View Post
      If someone said forex is gambling, so for other business and lif aspect in our life is gambling.

      Coffe shop, who knows your coffe product would be sold in profit or even goes bankrupt for next few days?

      Used car sales, who knows the car would be sold in profit or even lost by burglary next few hour?

      So does pips count who knows it will going south or north next few minutes?

      All is done by our skill, experienced and statistic probability, but nothing in this world is sure.

      No, it aint gambling forex is business just like other usual business!


      Sent from my iPad using Tapatalk HD
      Well said, i totally agree.
      Trade the market, not the trader

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      • #18
        Originally posted by bismillahwd View Post
        If someone said forex is gambling, so for other business and lif aspect in our life is gambling.

        Coffe shop, who knows your coffe product would be sold in profit or even goes bankrupt for next few days?

        Used car sales, who knows the car would be sold in profit or even lost by burglary next few hour?

        So does pips count who knows it will going south or north next few minutes?

        All is done by our skill, experienced and statistic probability, but nothing in this world is sure.

        No, it aint gambling forex is business just like other usual business!


        Sent from my iPad using Tapatalk HD
        HI Bismillarhwd,

        A spirited argument, however I have to completely disagree.

        Comparing forex trading to a tangible businesses that provides direct benefit to their customers in return for payment is a real stretch.

        Let me come at it in a different way - Would you agree that forex is similar to a game where all the participants are trying to predict the short and long term future of a currency?

        Currency doesn't move just because a nation makes a big ticket purchase, it takes weeks/months for that kind expenditure to wash through the underlying value of the currency. However it does move very very quickly if a nation talks about doing it (think of QE). This quick movement is a result of all the players in the game taking a view on what this announcement is going to do for the short, medium and long term future of that currency. My point here is that the market is being moved by speculators.

        By placing these trades these speculators are effectively betting against other traders with opposing views.
        Click here to check out the most popular forex channel on YouTube

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        • #19
          You can't say Forex is gambling because then it's impaling that you trade for fun, not to make money (of course trading can be fun, but it's primary goal should be to make money).

          For me gambling is first of all for fun. What casinos are about? Primary it's to have a good time. Of course you can say that there are people that can live off from gambling, but it doesn't change the fact that it's primary goal is to amuse people's life (enjoyment).

          You can of course stretch this definition (but you shouldn't) and see your whole life as gambling, it's all about point of view.

          You won't see commercials saying... "Come trade with us, it's fun!" it's rather about making money, investment.

          We can all here agree that Forex is about making money, not for fun (thus is not gambling).

          Forex is trading, not gambling (that's my view).

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          • #20
            Let's meet in the middle and call it "An Exercise In Calculated Risk Taking"...hehehehe

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            • #21
              To me, the distinction between trading and gambling is more to do with the expected outcome than anything else. The traders on this site have shown over long periods that their expected return from each trade is >0 which shows they are traders rather than gamblers.
              It's also possible to gamble with forex (as shown by my own attempts to trade!) where I apparently have no idea which direction the market will move and any profits could be put down to mere luck.

              To me, the same can be said for gambling vs sports betting (a very thin line for most people I'm sure). If I bet on the Melbourne Cup that's most certainly a gamble, however I have several mates who consistently make money from horse racing, NBA, NFL using mathematical models etc. Even though each wager will not win, the expected outcome over a long period of time is positive. To me this is also not gambling

              P.S. I'm referring here to mathematical expectation not a personal opinion of what you expect to occur

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              • #22
                Originally posted by pearcey2 View Post

                I'm referring here to mathematical expectation not a personal opinion of what you expect to occur
                Perhaps that's the key difference. One is scientific, the other is just a hunch
                Click here to check out the most popular forex channel on YouTube

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                • #23
                  I think Forex is indeed gambling when you take trades based on no reasons besides what others do or recommend. But like many here, I do that all the time and I go into those trades with the intent of it being a gamble but I have a small amount of my funds dedicated to those type of trades and to be honest, those are sometimes the most exciting trades.

                  When I take trades based on reasons then it is more of a strategic or scientific trade and at least in my opinion is not essentially a roll of the dice.
                  When I position trade or long term trade then its far from a gamble and if you have a good combination of strategies then you can "gamble" quite successfully.

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                  • #24
                    May not be the best place to post

                    May be most of you are already aware

                    But useful ( i feel)

                    http://www.dukascopy.com/fxcomm/fx-a...on=read&id=590
                    Trade the market, not the trader

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                    • #25
                      I know i do better with my trading than i do at casino!

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                      • #26
                        Has anyone here heard of the Broker OctaFx before these two new members started promoting it? If there is truly something unique and beneficial about that brokerage it would be good to put it in the brokerage section.

                        I frankly find it difficult to believe that it is so outstandingly different from other brokers that it's name belongs in a comparison of Forex trading and gambling.

                        Cheers,
                        Rod

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                        • #27
                          i don't believe its gambling. If we create good a plan to enter and exit based on news or indicators, it increases our chance of winning the trade.
                          For me gambling is 50/50 chance.

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                          • #28
                            Is counting cards in blackjack gambling? Cause it's more like that

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                            • #29
                              For me it is gambling.

                              If you know how to gamble, you can increase you odds of winning just like if you know how to trade, you can as well increase your odds of winning.

                              As an example, cockfighting is a very popular form of gambling or recreation in the Philippines. If you know how the rooster was trained or who the trainer is, then you can pick which rooster you will bet to win.

                              Another example will be the upcoming fight of Pacquiao and Mayweather. Who do you think have the edge?

                              I'm just bored in this Sunday morning, so I try to give my 2 cents.

                              Cheers,
                              FxTurtle

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                              • #30
                                Wow Turtle, good going man! You look pretty bored.

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