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Forex Trading and Gambling - Are they the same thing?

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  • firsly
    replied
    If to compare, I'd say that binar options are quite similar to gambling. The other thigs not

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  • Iluminatis
    replied
    Well, there are similar feelings when you do gambling and trade on forex, because you want to earn more and more every time, but it is not the smae thing. Trading needs economical knowledges. But gambling doesn`t. Of course some types of gambling need some skills. As one of my favorite-poker. I play it on https://score88poker.bid. I think it forex in the world of gambling.

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  • Mahbub Kafi
    replied
    Never and ever! Forex trading business is the keen definition of business, there is no connection with luck and others without knowledge and skill! On the other hand, gambling is totally different issue! I follow proper money management rules in my live trading! That means, I never use over lot and over trade positions in my live trading account!

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  • srk121
    replied
    Wow Turtle, good going man! You look pretty bored.

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  • fxturtle
    replied
    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

    Leave a comment:


  • Zuttasoxx
    replied
    Is counting cards in blackjack gambling? Cause it's more like that

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  • garrett
    replied
    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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  • nwboater
    replied
    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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  • optionmagic
    replied
    I know i do better with my trading than i do at casino!

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  • SmartTrader
    replied
    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

    Leave a comment:


  • TucsonTDR
    replied
    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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  • Nick
    replied
    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

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  • pearcey2
    replied
    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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  • Turtle Forex
    replied
    Let's meet in the middle and call it "An Exercise In Calculated Risk Taking"...hehehehe

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  • Daniel
    replied
    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).

    Leave a comment:

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