Are You Gambling or Trading? Think about this.

Maverick

Master Trader
Apr 3, 2014
454
7
79
Bournemouth UK
The decision whether to trade or spreadbet is IMO down to your location ... Spreadbetting is only available in certain countries ... I reside in the UK where it is allowed (Thank you, Gordon Brown)

Why would you pay taxes on your profits if you don't have to ?
 
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Maverick

Master Trader
Apr 3, 2014
454
7
79
Bournemouth UK
Remember what happened to AL Capone ... Jailed for Tax Avoidance
 
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fargana

Active Trader
Nov 14, 2022
163
23
29
34
Gambling implies you understand that long-term odds are not in your favor but you still want to try your luck. Also in gambling you tend to bet on unlikely outcomes expecting huge gains. In trading you can fine-tune how much risk you take using leverage, position size and stop orders.
 
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Ara

Active Trader
Apr 24, 2023
131
25
39
34
If you really want to make consistent money in the forex market, your methods had better be professional and extremely disciplined.No guess work

Smart trading involves executing a plan. Do you have a plan? If not, then the hard truth is you are gambling.

Gambling is nothing more than buying or selling with the hope that you are right. So in my opinion, it is very very important that you trade smart. Have a plan and execute that plan.

Every trader must learn to recognize which is which. In your trading style, are you gamling? Or Are you trading smart?:)
Absolutely, having a solid plan and sticking to it is crucial in forex trading. I've learned that discipline and a professional approach are non-negotiable if you're aiming for consistent success. You're right; without a plan, it's essentially gambling, relying on luck rather than strategy. My trading style revolves around rigorous analysis, risk management, and following a well-thought-out plan. It's about making informed decisions based on data, not just a hunch. This mindset shift from hoping to strategizing has been a game-changer for me. So, to answer your question, I'm definitely trading smart, not gambling.
 

Phill88

Trader
Dec 17, 2023
88
12
14
Germany
Well, technically, aren't we all just playing a really intense game of "Financial Chess"? But seriously, it's all about strategy, discipline, and calculated risks, not just rolling the dice and hoping for the best.
 

Hase

Trader
Oct 7, 2021
2
0
17
35
gambling on forex only xd no chance to win, only longplay 1:1 can be a win startegy
*but news trading can be profitable
 

Amy4

Trader
Mar 15, 2023
51
8
19
29
Gambling implies you understand that long-term odds are not in your favor but you still want to try your luck. Also in gambling you tend to bet on unlikely outcomes expecting huge gains. In trading you can fine-tune how much risk you take using leverage, position size and stop orders.
Definitely! Trading allows for much more control over risk.
 

andersonTT

Banned
Apr 29, 2024
2
0
1
29
To profit consistently in forex trading, professionalism and discipline are key. Without a clear plan, trading becomes akin to gambling, relying on hope rather than strategy. Smart trading involves having a well-defined plan and adhering to it. Determine whether your approach is based on strategy or gambling.
 

Amy4

Trader
Mar 15, 2023
51
8
19
29
To profit consistently in forex trading, professionalism and discipline are key. Without a clear plan, trading becomes akin to gambling, relying on hope rather than strategy. Smart trading involves having a well-defined plan and adhering to it. Determine whether your approach is based on strategy or gambling.
Absolutely agree. well said
 

jomina

Banned
May 5, 2024
8
0
2
26
Hi, I do not think forex is gambling as long as you have strategy. I have friends who are making money from forex trading.
 

Ara

Active Trader
Apr 24, 2023
131
25
39
34
Hi, I do not think forex is gambling as long as you have strategy. I have friends who are making money from forex trading.
Of course! I agree. Making profits from forex trading is possible for individuals who use smart strategies and market analysis.
 
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jomina

Banned
May 5, 2024
8
0
2
26
Of course! I agree. Making profits from forex trading is possible for individuals who use smart strategies and market analysis.
Absolutely! It's all about having the right approach and staying informed about the market trends.