Difference Between Forex Trading And Gambling, You need to Know?

[Gorm]

I agree with you. It should be noted that there are a lot of such players on the market.

 

[PintoFire]

Forex trading is done with great care. There are rules and regulations that must be observed when trading forex. Gambling, on the other hand, is entirely dependent on fate.

 

[Bumblebee]

The first and the most prominent difference between the two is that - forex trading is a legalised trading as per the government, and the exchanges working as centres for currency exchange also come under the Central Bank of most countries. On the other hand, gambling is illegal in most parts of the world, and in order to gamble you need to have a licence issued from the government.

 

[Homostone]

There is no denying the fact that there are several gamblers in the forex market who are constantly trying to make gains regardless of knowing what they are doing or are supposed to do as traders. But it doesn’t make the whole process of trading a fun gambling game. Trading requires a trader to be educated and skilled.

 

[Implumou]

If you start trading with the wrong mindset, you are bound to make losses. You must know that trading is not just about making money but also about protecting it. If you overlook the importance of protecting your capital, you are not a trader but a gambler.

 

[TildaTilt]

If you keep expecting your luck to work for you in forex trading and don’t build a strategy to follow, you are a gambler. It’s your knowledge and the effort you put in that help you make money.

 

[Gorm]

Luck in the market is also needed, as in any other business. But of course, you cannot rely only on luck in the forex .

 

[finance girk]

People who aren't educated about forex trading may see it as gambling, but mindset trader will different to them, the trader will learn how to protect the account from high risk. This is challenging business and not all people suitable to deal with forex are suited for the job. Best Free Forex Signals Online

 

[Polakandil]

Forex is a legal business in the world, there are regulatory agencies in every country working to regulate all companies that want to operate in the financial market, gambling in many countries is an illegal business and prohibited by the government, however, forex can be used gambler because is a speculative investment.

 

[BinarySumo]

Nah! They both are different in several key ways. Forex trading involves the use of analysis and strategy to make informed decisions, while gambling is typically based on chance or luck. Also, have you seen gamblers using various tools and techniques to manage risk?
Also, real forex traders can potentially generate profits over the long term through careful planning and execution, while the long-term prospects for success in gambling are generally much lower. Everything gamblers win is luck by chance.

 

[Jason]

"Everything gamblers win is luck by chance".

This is not necessarily true. I have a professional gambler acquaintance who has made millions by beating the system based on probabilities. Being a maths genius and statistician helps!

Agreed, but I truly believe most peole can win ongoing profits in the forex market if they control their leverage & risk continuously

 

[somrat4030]

Spot on in my view

Absolutely agree regarding Forex. I make on average 50 - 60% a year trading FX markets. It's all about consistency and discipline with your chosen strategy. Best wishes for 2023.

 

[Lakmuss]

You're spot on about the differences between forex trading and gambling! Forex trading relies on analysis and strategy, while gambling is often about luck. It's like comparing apples and oranges. And you're absolutely right, forex traders use various tools to manage risk.
In the long run, forex trading can yield profits with careful planning, whereas gambling's success rate is typically much lower. Gambling is more of a roll of the dice, so to speak.
Speaking of gambling, I recently came across an online casino bonus, but it's not really my thing.

 

[borzy]

Though there are many difference I would also bring your attention to similarities. Both gambling and trade outcomes likely have no correlation with past events. In other words if you gambled and lost 5 times in a row or had a bad streak of 5 losing trades it doesn't in any way affect your chances to gain in the future. This is known as gambling fallacy, it seems to me that it can be equally applied to forex trading.

 

[FXOpen Trader]

Though there are many difference I would also bring your attention to similarities. Both gambling and trade outcomes likely have no correlation with past events. In other words if you gambled and lost 5 times in a row or had a bad streak of 5 losing trades it doesn't in any way affect your chances to gain in the future. This is known as gambling fallacy, it seems to me that it can be equally applied to forex trading.

If we are using a trading based system that is easy to understand then we can get more profits from such trades.

 

[VasilTodorov]

i think the risk management can be the key
if you do not manage your risk then you are gambling!

 

[Fin_Trader]

In addition to risk management, I would also add that to make a profit you need a trading strategy. It is the strategy that makes it clear when you need to enter the market and when to wait, and not just play like in a casino whenever you want.

 

[BillieWillson]

You've hit the nail on the head with your insight into risk management being the key differentiator between forex trading and gambling. It's all about how you navigate and mitigate risks in the ever-fluctuating market. Without a solid risk management strategy, trading can indeed resemble a game of chance more than a calculated investment.
If you're keen on delving deeper into risk management strategies in forex trading, you can find more info and resources on this topic. Keeping yourself informed and continuously learning is essential for navigating the complexities of the financial markets.