Are You Gambling or Trading? Think about this.

[Maverick]

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 ?

 

[Maverick]

Remember what happened to AL Capone ... Jailed for Tax Avoidance

 

[fargana]

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.

 

[Benjifxfreak8696]

If you don't know what's up, you are gambling.

 

[Ara]

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]

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]

gambling on forex only xd no chance to win, only longplay 1:1 can be a win startegy
*but news trading can be profitable

 

[Thaddeus Finch]

knowing the difference between making informed choices and just gambling with your money is crucial for successful trading.

 

[Antho]

Discipline and a clear strategy are key to ensuring you’re trading, not gambling.

 

[Amy4]

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]

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]

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]

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]

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.

 

[jomina]

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.

 

[Milo_fx]

Hi, I do not think forex is gambling as long as you have strategy. I have friends who are making money from forex trading.

Absolutely agree! Forex is all about having a plan and sticking to it. With proper risk management and a solid strategy, it’s a skill-based thing, not a gamble. I’ve seen consistent results when I stay disciplined.

 

[Zerologic]

Every trader bets in forex trading, but how a trader bets may vary according to his market approach and knowledge. Trading without analysis and money management in my view is gambling, because it relies purely on luck.

 

[ChelseaR]

If we’re talking about analysis and money management, has anyone tried the Monte Carlo simulations for risk management?

 

[NoShowBrooks]

Every trader bets in forex trading, but how a trader bets may vary according to his market approach and knowledge. Trading without analysis and money management in my view is gambling, because it relies purely on luck.

Agreed!

 

[David79]

Every trader bets in forex trading, but how a trader bets may vary according to his market approach and knowledge. Trading without analysis and money management in my view is gambling, because it relies purely on luck.

Completely agree with your statement. Did you during you initial days?