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

[Resplendent]

Forex is not gambling, why? Because, forex wholly depends on your strategies and practice, whereas gambling is directly proportional to LUCK. In gambling, there are no tools or methods to minimise losses and risk but in forex you can control your losses with risk management strategies.

 

[Absterge]

Gambling is like betting which does not involve any kind of analysis. Traders who trade without analysing the market are actually gambling. True trader conducts his/her technical and fundamental analysis before making any trading decisions.

 

[diabolique]

Because the outcome is unpredictable, many people believe forex trading is similar to gambling. Forex trading, on the other hand, is carried out with great caution. Unlike gambling, forex trading has its own set of rules and regulations to follow. Gambling is completely dependent on luck.

 

[Capitation]

I think the major difference between gambling and forex trading is that gambling is purely based on luck while a forex trader can decide their fate by educating themselves. A forex trader applies their knowledge to make the right decisions which results in profits. Your skill level will determine your profitability in forex. There is a lot of calculations and analysis behind every trading decision. A forex trader works hard to manage the risk and adopts a strategy that guides them. A gambler is nothing like that. Forex trading is a noble profession that rewards you on the basis of your skills. Thank you for this insightful post. And I hope that people will stop disregarding the hard work of forex traders by comparing them to gamblers.

 

[Outflow]

In reality forex is not gambling. If we want to differentiate forex from gambling we can talk about risks. In gambling there is no method to overcome and minimise risks but you can do it in forex.

 

[WalletInvestor]

In reality forex is not gambling. If we want to differentiate forex from gambling we can talk about risks. In gambling there is no method to overcome and minimise risks but you can do it in forex.

I totally agree, the biggest difference is definitely the amount of control you have over your risks and therefore your overall gains.

 

[Theresa Duron]

I hate it when someone compares forex trading with gambling. I mean what makes you call some other source of income a fun activity when they have spent years learning and getting better at it. You have to analyse the market before placing a trade to make profits. You also have to apply your trading strategies to enter and exit the market at the right time. But when you wish to gamble, it’s just a button that you have to press and it will decide your results.

 

[Arithmogram]

Gambling is based on luck, whereas forex trading is based on strategies. You can’t compare the two. But yes, any forex trader who trades without any strategy is just gambling. That’s where the similarities between gambling and trading ends.

 

[Sacralgia]

I think it’s a useless topic to discuss. Traders are already well-versed with the hard work they have been putting in and gamblers don’t have much to say about effort.

 

[Retropulssion]

A gambler is always uncertain of their chances of winning, and unless they are using foul play, they always tend to believe the odds are stacked against them. Gamblers are usually dependent on luck. Whereas, a forex trader tries to come up with different trading strategies that will shift the odds in their favour. They can use different analysis tools to predict market trends and open a position that is bound to be profitable for them. They are certain that they are bound to come up with a profitable overall position after some skilful trading patterns.

 

[Symphony]

Gamblers have no clue what’s going on in the market. They open positions based on their “instincts.” Traders are the opposite of gamblers. They take time to understand the market, study it, and then take a course of action.

 

[Statoscope]

Basically gambling is all luck and little to no skills, while trading is all skills and little to no luck. But these days we can encounter many gamblers in the forex market too. Except that forex trading is not gambling for most of us.

 

[Curtate]

Your attitude defines whether you’re gambling or trading. A real trader pays attention to all his/her markert moves. On the other hand, a gambler cares only about making money, even if he has to throw and risk all of his money to get there.

 

[PriceNTime]

Trading or gambling are both only profitable if you understand how to identify value. Blindly placing trades or bets will likely just lead to your account emptying very quickly.

 

[Paramedian]

I agree that for some traders, gambling and trading have a lot of similarities. But I believe that it is up to the trader to decide what he wants to do with his money. While gambling, you don’t need to learn at all to put your money at risk. But while trading, you will be required to do a lot of hard work and get an understanding of the market. In gambling, there won’t be any particular reason for your loss but in trading, you will be able to find every reason behind your loss if you are serious.

 

[mansuriabubakar7474]

People often think that forex trading is similar to gambling because the outcome is unknown. Forex trading, on the other hand, is done very strategically. Unlike gambling, forex trading has rules and regulations that must be followed.

 

[Heirloom]

Gambling does not involve risk management or strategy. But professional traders always follow a strategy and manage the risk well for earning profits. Forex trading is not a gambling game. Trading is a skill that needs to be developed with learning and practice unlike gambling which is all about luck.

 

[Alricfischer]

Forex trading is not about random trading at all. Most people paint forex and gambling with the same brush, which is the wrong thing to do. There is nothing like chance or luck in the forex market. The only things that one needs to succeed in the forex market are knowledge, experience, and expertise. I have never heard of ‘learn to gamble online’, ‘gambling robots’, or ‘high leverage gambling’. These might sound funny because even you might not have heard them. Gambling is illegal in many countries, while forex is legal in most countries of the world.

 

[forum.forex]

Forex trading is not about random trading at all. Most people paint forex and gambling with the same brush, which is the wrong thing to do. There is nothing like chance or luck in the forex market. The only things that one needs to succeed in the forex market are knowledge, experience, and expertise. I have never heard of ‘learn to gamble online’, ‘gambling robots’, or ‘high leverage gambling’. These might sound funny because even you might not have heard them. Gambling is illegal in many countries, while forex is legal in most countries of the world.

Hi,
Thanks for your reply. Please share your real trading experience and knowledge with our members. Which will be more helpful for our traders. Please do not post any useless massage.

Thanks.

 

[Verves]

Imo, forex trading can also be referred to as gambling if the trader is making trades without any prior knowledge or analysing the marker.
They are also unable to limit their risk like gamblers.